Oroco Resource Corp. Announces Closing Of Private Placement

July 23, 2009

VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 23, 2009) – Oroco Resource Corp. (“Oroco” or “the Company“) is pleased to announce the closing of the first tranche of 5,800,000 units of a non-brokered private placement (the “Private Placement”) at a price of $0.15 per unit. Each unit consists of one common share and one transferable common share purchase warrant exercisable into one additional common share for a period of nine months at a price of $0.25 per share. All securities issued in this financing will be subject to a hold period which for this tranche will expire on November 17, 2009.

The Company has determined that it will limit the total offering to 6,500,000 units and intends to close on the remaining 700,000 units for which subscription agreements have been executed, upon receipt of final funds.

In connection with this tranche of the Private Placement, the Company is paying the following finders fees: General Research GmbH – 150,000 “Finders Units,” wherein each Finders Unit is comprised of one common share of the Company and one warrant exercisable for one year at $0.40; Warner Payton Investments Inc. – 90,000 Finders Units; 0719639 B.C. Ltd. – $1,800 cash and 16,200 Finders Units; Canaccord Capital Corporation – 12,000 Finders Units; and PI Financial Corp. – $2,700 cash.

For further information, please contact: 
Mr. Ken Thorsen, 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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