Oroco Provides Corporate Update

November 21st, 2024 News Release

Oroco Provides Corporate Update

VANCOUVER, CANADA, November 21st, 2024 – Oroco Resource Corp. (“Oroco” or the “Company”) (TSXV:

OCO; OTCQB: ORRCF, BF: OR6) is pleased to repor t its ongoing corporate activiti es, including preparations

for the Phase 2 technical work on the Santo Toma s Project. This update builds upon the August 20 th News

Release and Subsequent August 26th filing announcements that highlight the compelling economic case for Santo

Tomas provided in its updated PEA, which case demonstrates a 22.6-year Life of Mine copper-molybdenum-gold-

silver project featuring post-tax economic metrics supporting a US$1.48 billion post-tax NPV.

Since the release of the updated PEA, Oroco has focused on the following:

 Monitoring and interpreting the recent legal decisi ons of the Supreme Court of Mexico which limit the

application of the 2023 amendments to the Mining Law, thereby providing additional certainty to the first

instance “amparo” decisions obtained by the Co mpany which confirmed the preservation of the

Company’s previously existing rights in its Santo Tomas Project mineral concessions.

 Monitoring closely the political and regulatory environment relating to open pit mine development in

Mexico under the Federal administration of its new President, Claudia Sheinbaum.

 A detailed examination of the new administration’s socio-economic aims and targets for rural communities

located in areas where new and expanded mining projects exist or may exist, with the specific goal of

securing continued local, state and federal support for the Company’s future permitting activities.

 Defining and expanding the direct community invest ment opportunities complementary to the continued

development of local social and political support for the future mine development at Santo Tomas.

 Defining the scope and activities of a Phase 2 pr oject technical program that would underpin an updated

Mineral Resource Estimate (MRE), specifically including elevated resource classifications and an

expanded Indicated Resource at South Zone sufficient to support a PFS-level technical report.

 Identifying and pursuing strategic fi nancing relationships tailored to increasing enterprise valuation and

financing of the planned Phase 2 work and project support programs.

 Identifying and resourcing an expanded and signific antly more diversified distribution and wide-band

shareholder engagement program, which will be based upon:

o new forms of content, comprising enhanced detail and wider types of presentation;

o additional platform utilization with varied and targeted media relating to the technical and

community merits of the Santo Tomas Project.

Commenting on these post-PEA initiatives, CEO Richard Lock stated:

“Since releasing the updated PEA in Augu st 2024, we have focuse d on Mexico’s regulatory transition to the

Sheinbaum administrative policies while carefully defining our Phase 2 technical and social targets and programs.

We are very pleased with our current assessment regardi ng our outlook for the project. With the opportunity to

focus more on certain considerations external but necessary to the technical development of the project, we have

gained a highly positive view regarding the future social and technical initiatives for the Company. Santo Tomas

is proving to be one of the most capital-efficient, large-scale, low-cost copper projects in the world.”

About OROCO

The Company holds a net 85.5% interest in those centra l 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 initially defined by prior exploration spanning the period from

1968 to 1994. During that time, the Project area was test ed 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.

The drilling and subsequent resource estimates and engineering studies led to a revised MRE and updated PEA

being published and filed in August 2024. The revised MRE released with the updated PEA included an Updated

Mineral Resource for the North and So uth Zones of the Santo Tomas Project, identifying Indicated and Inferred

resources of 540.6 Mt @ 0.37% CuEq and 530 Mt @ 0.35% CuEq respectively.

The Project is located within 170 km of the Pacific de ep-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 prop erty 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 informat ion” 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 factor s that could cause actual ev ents, results, performance,

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

information. All statements other than statements 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 gua rantee 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, inherently 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 signifi cantly from estimates; the preliminary nature of

metallurgical test results; delays in obtaining or fail ures to obtain 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 t he mineral exploration and

development industry; and those ri sks set out in the Company’s publ ic 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 fr om those expressed or implied in the forward-looking

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

assume any obligation to update or revise any forward-look ing 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 resp onsibility for the adequacy or accuracy of this news release. No stock

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

contained herein.