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Oroco Announces Private Placement


November 8, 2011

VANCOUVER, British Columbia – (November 8, 2011) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 4,000,000 units at a price of $0.25 cents per unit to raise gross proceeds of up to $1,000,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months at a price of $0.40 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.

The proceeds of the private placement will be used for the continuing development of Oroco’s Cerro Prieto Project in Sonora State, Mexico and for general working capital.

About Oroco

Oroco is a Canadian-based mineral exploration company with its primary focus on the development of the gold-bearing oxide zones of its Cerro Prieto Project in northern Sonora State, Mexico.

For further information, please contact:

Mr. Craig Dalziel, President and CEO Oroco Resource Corp.
Tel: 604-688-6200

www.orocoresourcecorp.com

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.

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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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