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.
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO