TSX-V: OCO.V 0.64 OTCQB: ORRCF 0.48 BF: OR6 0.44

News

Presentations

Oroco Announces Warrants Exercised


May 6, 2010

VANCOUVER, British Columbia – (May 6, 2010) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that 2,548,000 warrants issued as part of the July, 2009 private placement of units of the Company, have been exercised at a price of $0.25 per warrant share, for total proceeds of $645,000. The warrants were held by eight individuals and investment groups, all of whom are arms length to the Company.

The Company has entered into an agreement with Thorsen Consulting Ltd., a company owned and controlled by Ken Thorsen, the Chairman of the Board of Directors of the Company, to settle $17,500 of fees accrued by Thorsen Consulting Ltd. for Mr. Thorsen’s services as President and Chief Executive Officer of the Company during the period December, 2008 through June, 2009, for 70,000 common shares of the Company at a deemed value of $0.25 per share. The settlement is subject to the acceptance of the TSX Venture Exchange.

About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto project in northern Sonora State, Mexico. The Cerro Prieto Project consists of the 100% owned San Felix, San Francisco and Cerro Prieto concessions, totalling 2,723 ha, and 4,120 ha of the connecting Argonauta 5 Fraccion 1 concession to which the Company holds an option to purchase a 100% interest.

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.

Subscribe for Updates

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.

Please signify your understanding:

I Agree