Oroco Announces Private Placement

November 20, 2023 News Release

OROCO ANNOUNCES PRIVATE PLACEMENT

VANCOUVER, CANADA, November 20, 2023 – Oroco Resource Corporation. (“ Oroco” or the “ Company”)

(TSXV: OCO; OTCQB: ORRCF, BF: OR6) is pleased to announce a non-brokered private placement to raise

gross proceeds of up to $ 2,500,000 (the " Private Placement") through the issuance of up to 6, 250,000 units

(each a "Unit") at a price of $0. 40 per Unit. Each Unit is comprised of one common share in the equity of the

Company (each, a “Share”) and one share purchase warrant entitling the holder to acquire one additional S hare

for a period of 18 months from the closing date for $0.65.

The Company intends to use the net proceeds of the Private Placement for working capital to advance its Santo

Tomas project and for general corporate purposes. The Company may pay finder’s fees consisting of cash, share

purchase warrants and Shares to certain qualified indiv iduals in accordance with the policies of the TSX -V

Exchange and applicable securities laws.

Closing of the proposed private placement is subject to obtaining all required approvals, including the approval of

the TSX-V and any other regulatory approval. All securities issued pursuant to the Private Placement will be

subject to a hold period of four months from the closing date. The securities have not been, and will not be,

registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered

or sold within the United States except pursuant to exemptions therefrom. This press release does not constitute

an offer to sell or a solicitation to buy any securities in any jurisdiction.

ABOUT OROCO:

The Company holds a net 85.5% interest in those central concessions that comprise 1,173 hectares “the Core

Concessions” of The Santo Tomas Project, located in northwestern Mexico. The Company also holds an 80%

interest in an additional 7,861 hectares of mineral concessions surrounding and adjacent to the Core Concessions

(for a total Project area of 9,034 hectares, or 22,324 acres). The Project is situated within the Santo Tomas District,

which extends up to the Jinchuan Group’s Bahuerachi Project, approximately 14 km to the northeast. The Project

hosts significant copper porphyry mineralization defined by prior exploration spanning the period from 1968 to

1994. During that time, the P roject area was tested by over 100 diamond and reverse circulation drill holes,

totalling approximately 30,000 meters. Commencing in 2021, Oroco conducted a drill program (Phase 1) at Santo

Tomas, with a resulting total of 48,481 meters drilled in 76 diamond drill holes. In October of 2023, the Company

announced the results of a preliminary economic assessment w hich included an updated mineral resource

identifying Indicated and Inferred resources of 561 Mt @ 0.37% CuEq and 549 Mt @ 0.34% CuEq, respectively.

The Santo Tomas Project is located within 160 km of the Pacific deep-water port at Topolobampo and is serviced

via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of

Los Mochis to the northern city of Choix. The property is reached, in part, by a 32 km access road originally built

to service Goldcorp’s El Sauzal Mine in Chihuahua State.

Additional information about Oroco can be found on its website at www.orocoresourcecorp.com and by reviewing

its profile on SEDAR at www.sedarplus.ca.

For further information, please contact:

Richard Lock, CEO

Oroco Resource Corp.

Tel: 604-688-6200

Email: [email protected]

www.orocoresourcecorp.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward- looking information” within the meaning of applicable Canadian securities

legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking

information involves risks, uncertainties and other factors that could cause actual events, results, performance,

prospects and opportunities to differ materially from those expressed or implied by such forward- looking

information. All statements other than st atements of fact included in this document constitute forward- looking

information, including, but not limited to, objectives, goals or future plans, statements regarding anticipated

exploration results and exploration plans, Oroco’s expectations regarding the future potential of the Santo Tomas

deposits, its plans for additional drilling and other exploration work on the Santo Tomas deposits and the potential

to advance or improve the PEA study.

Forward-looking information is not, and cannot be, a guarante e of future results or events. Forward- looking

information is based on, among other things, opinions, assumptions, estimates and analyses that, while

considered reasonable by the Corporation at the date the forward- looking information is provided, inherent ly are

subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events

to be materially different from those expressed or implied by the forward-looking information.

Factors that could cause actual results to differ materially from such forward- looking information include, but are

not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of

metallurgical test results; delays in obtaining or failures to obtai n and comply with required governmental,

environmental or other Project approvals; uncertainties relating to the availability and costs of financing needed

in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of

the Project; COVID -19 and other pandemic risks; those other risks involved in the mineral exploration and

development industry; and those risks set out in the Company ’s public documents filed on SEDAR at

www.sedarplus.ca.

Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption

prove incorrect, actual results could vary materially from those expressed or implied in the forward- looking

information. Accordingly, you should not place undue reliance on forward- looking information. Oroco does not

assume any obligation to update or revise any forward -looking information after the date of this news release or

to explain any material difference between subsequent actual events and any forward-looking information, except

as required by applicable law.

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 ade quacy or accuracy of thi s news release. No stock

exchange, securities commission or other regulatory authority has approved or disapproved the information

contained herein.