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Oroco Resource Corp. Announces Private Placement


October 8, 2010

VANCOUVER, BRITISH COLUMBIA – (October 08, 2010) – Oroco Resource Corp. (TSX VENTURE: OCO) (“Oroco” or “the Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 2,000,000 units at a price of $0.20 per unit to raise gross proceeds of $400,000. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months at a price of $0.30 per share.

The proceeds of the Private Placement will be used for completion of the Company’s preliminary economic assessment of its Cerro Prieto Project and for general working capital. The Private Placement is subject to TSX Venture Exchange approval.

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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