Oroco Reports Initial Production At Cerro Prieto

January 27, 2014

Vancouver, British Columbia (January 27, 2014) – Oroco Resource Corp. (“Oroco”) (TSXV: OCO;  Frankfurt: OR6) is pleased to report the announcement by Goldgroup Mining Inc. of the completion of its Phase 1 development of the Cerro Prieto Mine in Sonora State, Mexico and the commencement of Cerro Prieto gold production (see Goldgroup Mining news release, dated January 9, 2014, for the details of Goldgroup’s initial production at Cerro Prieto).

Oroco also announces the approval by its shareholders of an amendment to its articles to include advance-notice provisions which will provide shareholders, directors and management of the Company with direction on the procedure for shareholder nomination of directors.  The purpose of the advance-notice provisions is to ensure that all shareholders, including those participating in a meeting by proxy rather than in person, receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner.

The board of Oroco believes that the amendments provide a clear and transparent process for all shareholders to follow if they intend to nominate directors.  In that regard, the amendments provide a reasonable time frame for shareholders to notify the company of their intention to nominate directors and require shareholders to disclose information concerning the proposed nominees that is mandated by applicable securities laws.  The board will be able to evaluate the proposed nominees’ qualifications and suitability as directors, and respond as appropriate in the best interests of the company.

In the case of an annual meeting of shareholders, notice to the Company must be given not less than 30 nor more than 65 days prior to the date of the meeting; provided, however, that in the event that the meeting is called for at a date that is less than 50 days after the date on which the first public announcement of the date of the meeting was made, the notice must be given by the nominating shareholder not later than the close of business on the 10th day following the notice date.  In the case of a special meeting of shareholders which is not also an annual meeting, and is called for the purpose of electing directors (whether or not called for other purposes), the Company must be given notice not later than the close of business on the fifteenth (15th) day following the notice date.  Notwithstanding the foregoing, the board of directors may, in its sole discretion, waive any notice requirement. In no event shall any adjournment or postponement of a meeting of shareholders, or the public announcement thereof, commence a new time period for the giving of the notice.

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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