Oroco Resource Corp. Announces Closing of Private Placement

October 15, 2010 NEWS RELEASE

FOR IMMEDIATE RELEASE:

OROCO RESOURCE CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

VANCOUVER, British Columbia – (October 15, 2010) Oroco Resource Corp. (TSX-V: 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 nontransferable 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.

For further information, please contact:

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

Tel: 604-688-6200 www.orocoresourcecorp.com

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.

789-999 West Hastings Street, Vancouver, BV V6C 2W2 T: 604.688.6200 F: 604.688.6260 www.orocoresourcecorp.com