Oroco Resource Corp. Announces Private Placement

March 1, 2011

VANCOUVER, British Columbia – (March 1, 2011) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that, further to a price reservation previously filed with the TSX Venture Exchange, it has received subscription agreements for a non-brokered private placement (the “Private Placement”) of 3,541,334 units at a price of $0.30 per unit to raise gross proceeds of $1,062,400.  Each unit consists of one common share and one-half of a transferable common share purchase warrant. Each whole warrant will be exercisable into one additional common share at an exercise price of $0.45 per share for a period of eighteen months from the date of closing of the Private Placement.

The Company is also pleased to announce that the TSX Venture Exchange has approved amendments to the Company’s 2007 Rolling Stock Option Plan (the “Plan”) which allows for exercised options to be made available for subsequent grant.  The revised Plan is consistent with prior disclosure by the Company which has indicated that the Plan is a “rolling” plan.

On Behalf of the Board of Directors of
Oroco Resource Corp.
“Craig Dalziel”
Mr. Craig Dalziel,
President and CEO
Oroco Resource Corp.
Tel: 604-688-6200

Neither the 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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