Oroco Announces Final Drill Results From Phase One Exploration Program

October 31, 2008

VANCOUVER, BRITISH COLUMBIA – (Marketwire – October 31, 2008) – Oroco Resource Corp. (TSX-V;OCO) is pleased to announce the results from the remaining six drill holes completed in phase 1 on its Cerro Prieto Project in Sonora State, Mexico.

Highlights of the current results include:

  1. CP019 intersected 86.0 meters (42.0 meters true thickness) averaging 0.56 g/t Au, 2.1 g/t Ag, 0.46% Pb and 0.90% Zn including 16.0 meters (7.8 meters true thickness) averaging 1.01 g/t Au, 4.5 g/t Ag, 1.37% Pb and 2.17% Zn;
  2. CP021 intersected 95.3 meters ( 64.0 meters true thickness) averaging 0.28 g/t Au, 6.6 g/t Ag, 0.20% Pb and 0.67% Zn including 16.0 meters (10.7 meters true thickness) averaging 0.84 g/t Au, 33.0 g/t Ag, 0.47% Pb and 1.56% Zn;
  3. CP023 intersected 13.0 meters (8.7 meters true thickness) averaging 2.80 g/t Au, 51.5 g/t Ag, 0.24% Pb and 0.50% Zn;
  4. A total of 24 drill holes (5,975 meters) are now completed, of which 22 holes intersected the mineralized shear zone and two holes were lost prior to intersecting the mineralized zone due to poor ground conditions.

The mineralized zone has now been traced at 100 meter intervals along a 600 meter strike length to a maximum depth of 400 meters with a further step out hole (CP023) located 300 meters to the north of the other holes. The mineralized zone remains open at depth and along both strike directions.

CP019 331.0 417.0 86.0 42.0 0.56 2.1 0.46 0.90
incl 356.0 372.0 16.0 7.8 1.01 4.5 1.37 2.17
CP020 63.0 79.0 16.0 10.7 0.03 0.90 0.25 0.46
and 101.0 138.2 37.2 25.0 0.14 3.7 0.44 0.31
CP021 163.0 258.3 95.3 64.0 0.28 6.6 0.20 0.67
incl 183.0 199.0 16.0 10.7 0.84 33.0 0.47 1.56
incl 183.0 189.0 6.0 4.0 1.79 83.5 0.32 1.29
CP022 Hole lost            
CP023 103.0 116.0 13.0 8.7 2.80 51.5 0.24 0.50
incl 104.1 108.5 4.4 3.0 7.72 17.6 0.35 0.66
and 110.0 116.0 6.0 4.0 0.16 93.2 0.19 0.45
CP024 Hole lost            

* AT means apparent thickness
** TT means true thickness

CP020 and CP021 were drilled on Section 750N and intersected the mineralized zone at 80 meters and 190 meters vertically below surface respectively. Holes CP022 and CP024 were two attempts to intersect the mineralized zone 100 meters below CP021, but both encountered and were unable to penetrate a fault zone and were abandoned prior to reaching the mineralized zone. A further attempt will be made at this target from the opposite direction as part of the phase 2 drill program.

Trenching and sampling across the mineralized shear zone has been completed at 50 meter intervals along a 1,000 meter strike length. Complete assays from this trenching program are expected to be available by the middle of November.

The Company has had discussions with a contract metallurgist and will, under his direction, instigate a preliminary metallurgical test shortly. As part of the study, several samples have been collected for petrographic analysis to characterize the mineralogy of the deposit.

The company is pleased with the results from the phase 1 drill program and will be developing a phase 2 strategy over the next few months.

Oroco holds a 100% interest in six mineral concessions in Mexico including the 2,723 hectare Cerro Prieto polymetallic project in Sonora State, Mexico. In April of this year the company commenced the now complete phase 1 drill program at Cerro Prieto on which the mineralized zone has now been drill tested vertically at 100 meter centers along a strike length of at least 600 meters to a maximum depth of 400 meters allowing the calculation of an initial estimation of resources.

Qualified Person
Kenneth R. Thorsen, B.Sc., P. Geo., is a director of the company and is a ‘qualified person’ for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators and has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this news release.

Quality Assurance & Control
The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. Split core is transported to the ALS Chemex laboratory in Hermosillo where it is crushed and pulverized, with pulps sent to the ALS Chemex laboratory in Vancouver, B.C. for assaying. The other half of the core is retained for future assay verification. The QA/QC policy includes the chain of custody monitoring, insertion of blanks, standards and duplicates in the initial samples submitted. The laboratory provides an additional internal control program.

Stephen Leahy

For further information, please contact:
Oroco Resource Corp. Tel: 604-688-6200

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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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