Oroco Announces Private Placement

November 23, 2011

VANCOUVER, British Columbia – (November 23, 2011) Oroco Resource Corp. (TSXV: OCO) (“Oroco” or “the Company”) is pleased to announce that it has closed a nonbrokered private placement (the “Private Placement”) of 4,772,000 units at a price of $0.25 per unit to raise gross proceeds of $1,193,000. Each unit consists of one common share and one-half of one nontransferable common share purchase warrant. Each whole share purchase warrant is exercisable for a period of eighteen months into one additional common share at a price of $0.40 per share.

All securities issued in this financing will be subject to a hold period which will expire on March 24, 2012. Proceeds of the Private Placement will be used by the Company for exploration drilling intended to extend the southern limits of the mineral resource at the Company’s Cerro Prieto Project in Sonora State, Mexico, as well as for expenditures related to the development of Cerro Prieto and general working capital. There are no finder’s fees being paid in association with the Private Placement.

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.

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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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