Oroco Resource continues its success in the Southern Region with 221.7 million copper equivalent of 0.45%

* This statement has been translated by an automated system.

VANCOUVER, Canada, March 29, 2023 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the Company”) announces the results of drilling inspection drills S019 to S021 (1,553 meters of drilling) from the Southern District Drilling Program on its property in Santo Tomas (” Property “) located in northwest Mexico (see Table 1, Figure 1 (Figure 3 on the company website) and cross-sections of the southern region, attached). To view an interactive 3D model that includes the Zona Sur results announced today, use the following link: https://vrify.com Or visit the Oroco website: orocoresourcecorp.com .

Most notable excavation results:

• Well S020 (SZ-46 and -47 plates) I threw 221.7 million of 0.45% cubic feet
• Piercing S021 (panels SZ-33 and -34) returned 145 μm of 0.32% CuEq Y 89 m from 0.34% cu ft

Oroco CEO Richard Locke commented, “I am very pleased to say that the Santo Tomas 2022-2023 comprehensive drilling program validated my decision to join Oroco about a year ago. The project clearly meets my expectations as a very attractive acquisition target and I expect it to be validated.” This assessment is further expanded with the forthcoming release of the Updated Mineral Resources Estimate and the Preliminary Economic Assessment that will follow.”

Southern District Program

The company has now completed a 21-hole drilling program in the Southern District (12,154m) designed to confirm and test the metal structures of the Southern District, with all results published.

Historical drilling, surface geological mapping, and a 3D induced polarization survey by Dias Geo identified near-surface mineralization expected to reach 400 m below the surface over a 2,000-m range in the southern region.

While the current drilling program is only partially testing the southern region, historical exploration and the 2022-2023 drilling program definitively identify a northwest-northeast-trending rift zone, Laramid-era intrusion, hydrothermal breccias, and mineralization along the two-kilometer corridor. completely. Digging south of the northern region N043.

• he Northern part of Zona Sur between drill holes N043 and S012, which represent a 500-meter undrilled corridor, to be tested in a future drilling programme.
• he Central part of the southern region It extends from hole S012 to the south to holes S002 and S007 (slides SZ-49 to SZ-63). The drilling shows the presence of a moderately mineralized, shallow seating area 200 to 400 meters below the surface along a stroke of approximately 700 metres. Additional drilling is needed to confirm continuity in this area.
• he Southern part of Zona Sur It extends south from holes S002 and S007 with a strike length of about 800m to drill hole S021. Drill holes S001, S003 to S004 and S015 to S021 (flaps SZ-33 to SZ-47) indicate continuity of good grade mineralization within a southwesterly sink area of ​​at least 300 m width, which extends from the surface to 200–400 m. complete. As these drilling rigs test an area of ​​the southern region that begins within the historical resource and extends beyond, it is likely to add significant load to the mineral resource estimate being prepared to support the planned initial economic assessment (see Figure 1 and Panel SZ-33).

Excavation results – the southern part of the southern region

• S019 drill hole (plate SZ-36) returned two mineralization periods (see Table 1 below).
• S020 drill hole (plates SZ-46 and -47) yielded two mineralization periods, the most important 221.7 million of 0.45% cubic feet .
• S021 drill hole (panels SZ-33 and -34) yielded two mineralized periods of 145 m from 0.32% cu ft And 89 m from 0.34% cu ft, that includes 25 m from 0.81% cu ft.

All holes tested sediment approximately perpendicular to their structural position. Core intervals are within 10% of true thickness. Inspection results and cross-sections of all Zona Sur, Zona Norte and Zona Brasiles drill holes published to date are available on the company’s website.

Table 1: Significant Test Periods in the 2021-2023 Program, S019 to S021 Drills:

cu Opposite (CuEq)% = Cu% + (Mo% * 3.75) + (Au ppm * 0.752). Prices for raw materials (3-year average) used are in US dollars: $3.20/lb, $12.00/lb, $1650/oz. Ag values ​​are not used in the CuEq calculations.

The Laramid-period overlapping mineralization in the west and dikes dominate the northern and southern regions. In particular, the southern part of Zona Sur has a contrasting geology. The pits are intersected by a mineralized hydrothermal breccia and a broad stock vein/fracture zone that overshadows the mineralization of the southern pre-inundation western zone. The grades are comparable and locally with a greater width than the northern region.

Northern Region Program

The company continued horizontal drilling operations from the base of the Santo Tomas mountain range to test 400 meters south of the northern region, south of well N038, at depths of 300 to 500 meters below the surface. This programme, consisting of drilling of drilling holes N044 through N047, has completed three of the four planned wells.

Technical information and quality control/quality assurance

The historical drilling data used in this current exploration program has been the subject of the data verification procedures described in the current technical report. Additional drill collar checks have taken place in the current programme, and collar positions closely match the 2021/2022 survey check. Appropriate QA/QC protocols govern registration, basic sampling, sample preparation, testing and security during the current programme, including quality checks with duplicates, standards and blanks. The samples were sent to the Mexican division of ALS Limited in Hermosillo, Mexico for pulp sample preparation. The pulp samples are then sent to ALS Canada Ltd. in Vancouver, Canada, for analysis. Total copper and molybdenum contents were determined by four-acid digestion with AAS termination. Gold was determined by testing a 50-gram charge, or alternatively, a 30-gram charge (1 ton test).

qualified person

Mr. Paul McGuigan, P.Geo. from Cambria Geosciences Inc. , a “qualified person” (as defined in NI 43-101- Standards for disclosure of mineral projects ) and a consulting geologist with the Company, have reviewed and approved the technical disclosures in this press release. The Company strictly adheres to CIM’s best practice guidelines when conducting, documenting and reporting exploration activities on its projects.

About OROCO

The company holds an 85.5% working interest in the 1,172.9-hectare collective core concession for the Santo Tomas project in northwest Mexico. The company also has an 80% working interest in the 8,154.3 hectares of mining concessions surrounding and adjacent to the main concessions (with a total project area of ​​23,048 acres). The project is located in the Santo Tomás district, which extends from Santo Tomás to the Bahuerachi project of Grupo Jinchuan, about 14 km to the northeast. Santo Tomás hosts a large porphyry copper deposit that was identified through previous excavation spanning the period from 1968 to 1994. During that time, the property was tested by more than 100 reverse circulation and diamond drilling boreholes, totaling about 30,000 metres. Based on the data generated from these drilling programs, Bateman Engineering Inc. Outstanding preliminary feasibility study in 1994. The company is nearing completion of the 2021-2023 drilling program in Santo Tomas totaling approximately 49,000 meters drilled. in 76 diamonds. Drill holes yet.

The Santo Tomás project is located 160 km from the Pacific deep-water port of Topolobampo and is served by nearby highways and railways (and parallel corridors of natural gas and main power lines) through the city from Los Mochis to the northern city of Choix. The property is accessed via a 20-mile access road originally built to service Goldcorp’s El Sauzal mine in the state of Chihuahua.

For more information, please contact:

Richard Locke, CEO

Oroco Resources Corporation.

Phone: 604-688-6200

Email: [email protected]

orocoresourcecorp.com

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Cautionary note regarding forward-looking information

This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities law. All statements, other than statements of historical fact made in this document, including, without limitation, statements regarding future events or achievements of the Company, are forward-looking statements. There can be no guarantee that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those projected or implied by such statements. Many factors, known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by these forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this press release with respect to these matters. Oroco undertakes no obligation to update forward-looking statements if they change, except as required by law.