Oroco Announces Favourable Court Decision

May 7, 2019

VANCOUVER, British Columbia – (May 7, 2019) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company“) is pleased to announce that it has been advised by its Mexican legal counsel that the Mexican Federal Appeal Court has rendered an oral decision which materially affects the status of the Santo Tomas concessions (the “Concessions”).  The decision will nullify a 2016 judgement (the “Judgement”) which had resulted from an unwarranted claim to the Concessions by Aztec Copper Inc. (“Aztec”) and its Mexican subsidiary.  The Company is waiting for written confirmation of the appeal court decision prior to the resumption of trading.

The existence of the Judgment, and in particular its related annotation recorded in the Mexican Mining Registry, was an impediment to the registration of the Concession titles to Xochipala Gold S.A. de C.V., a subsidiary of Altamura Copper Corp. (“Altamura”).  Oroco currently owns 13.0 percent of Altamura and holds an irrevocable option to acquire the balance of Altamura (refer to the Company’s news release of October 9, 2018).  Once written confirmation of the appeal court decision has been received, the Company will proceed to register the Concessions in the name of Xochipala Gold S.A. de C.V.

The Company also reports that a criminal complaint against Aztec and Ron Arnold, the President of Aztec, for procedural fraud, in relation to the trial which resulted in the Judgement, has been filed with the Procuraduría General de Justicia de la Ciudad de Mexico.

For further information, please contact:

Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.

Tel: 604-688-6200


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Information

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation.  All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements.  Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters.  Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.

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These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

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