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Oroco Resource Corp. Announces Closing Of Private Placement


October 10, 2010

VANCOUVER, BRITISH COLUMBIA – (October 10, 2010) – Oroco Resource Corp. (TSX VENTURE: OCO) (“Oroco” or “the Company”) is pleased to announce the closing of the non-brokered private placement (the “Private Placement”) of 2,000,000 units at a price of $0.20 per unit announced on October 8, 2010. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable into one additional common share for a period of eighteen months at a price of $0.30 per share. All securities issued in this financing will be subject to a hold period which will expire on February 16, 2011. Proceeds of the Private Placement will be used by the Company for general working capital and for expenditures related to the Preliminary Economic Assessment of Oroco’s Cerro Prieto Project in Sonora State, Mexico. There are no finder’s fees being paid in association with the Private Placement.

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.

Contacts:
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
604-688-6200
604-688-6260 (FAX)
www.orocoresourcecorp.com

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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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