Oroco Completes Final Closing of Non-Brokered Private Placements

February 20, 2024 NEWS RELEASE

OROCO COMPLETES FINAL CLOSING OF NON-BROKERED PRIVATE PLACEMENTS

VANCOUVER, British Columbia – (February 20, 2024) Oroco Resource Corp. (TSX-V: OCO, OTC:

ORRCF) (“Oroco” or “the Company”) is pleased to announce the closing of a non -brokered

private placement (the “Private Placement”) raising net proceeds of $1,028,000 through the sale

of 2,570,000 units at a price of $0. 40 per unit. Each unit consists of one share and one share

purchase warrant. Each share purchase warrant entitles the holder to purchase one share at the

price of $0.65 per share for a period of 18 months from closing.

Commenting on the Private Placement , Richard Lock , CEO, stated: “In completing our recent

series of private placements, we are very pleased to have exceeded our overall funding goal of

five million dollars, despite the highly adverse market conditions. We see this as a positive

indication of the significant value that the Santo Tomas Project holds for Oroco.”

The Company intends to use the proceeds of the Private Placement to continue improving various

underlying aspects of the Company’s Preliminary Economic Assessment, including those relating

to the Santo Tomas mine plan, together with property maintenance and corporate overhead.

The Company will pay 75,000 shares to an agent as finder’s fees in connection with this financing.

Those shares and any other shares issued, or warrants exercised pursuant to the terms of the

Private Placement, are subject to a hold period expiring June 17, 2024. The Private Placement

was carried out under prospectus exemptions of applicable securities laws and is subject to final

acceptance by the TSX Venture Exchange.

ABOUT OROCO:

The Company holds a net 85.5% interest in those central concessions (the “ Core Concessions”)

comprising 1,173 hectares of the Santo Tomas Project located in northwestern Mexico. The

Company also holds an 80% interest in an additional 7,861 hectares of min eral 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 Project 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 a Preliminary Economic

Assessment and Updated Mineral Resource for the North and South Zones of the Santo Tomas

Project, identifying Indicated and Inferred resources of 561 Mt @ 0.37% CuEq and 549 Mt @

0.34% CuEq respectively.

OROCO RESOURCE CORP.

1201-1166 Alberni Street, Vancouver, BC V6E 3Z3

T: 604.688.6200 F: 604.688.6260

www.orocoresourcecorp.com

The 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 Resource Corp. 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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this

release.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain “forward- looking information” and “forward -looking

statements” (collectively “forward -looking statements”) within the meaning of applicable

Canadian securities legislation. All statements, other than statements of historical fact included

herein, including, without limitation, statements relating to future events or achievements of the

Company, are forward-looking statements. There can be no assurance that such forward-looking

statements will prove to be accurate, and actual results and future events could differ materially

from those anticipated or implied in such statements. Many factors, both known and unknown,

could cause actual results, performance or achievements to be materially different from the

results, performance or achievements that are or may be expressed or implied by such forward-

looking statements. Readers should not place undue reliance on the forward-looking statements

and information contained in this news release concerning these matters. Oroco does not assume

any obligation to update the forward-looking statements should they change, except as required

by law.