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Oroco Announces Private Placement


October 12, 2017

Vancouver, British Columbia – (October 12, 2017) Oroco Resource Corp. (TSXV: 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 8,000,000 units at a price of $0.075 cents per unit to raise gross proceeds of up to $600,000. 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 $0.125 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 intended acquisitions of mineral properties in Mexico.

Cautionary Note Regarding Forward Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward-looking statements relate to future events or the Company’s business prospects or opportunities. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. Forward-looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward-looking information. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.

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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