The content of this release has been translated using machine translation software.

Vancouver, Canada, March 29, 2023 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the Company”) announces the test results for holes S019 to S021 (1,553 m of drilling) from its South Zone drilling program on its Santo Tomas property (the “Property”) located in northwestern Mexico (see Table 1, Figure 1 (Figure 3 on the company’s website) and the southern zone cross-sections attached). To view an interactive 3D model that includes the South Zone results announced today, please use the following link: https://vrify.com or go to the Oroco website: www.orocoresourcecorp.com.

DRILL RESULTS HIGHLIGHTS:

• Drill the hole S020 (SZ-46 and -47 plates) flipped 221.7m of 0.45% CuEq
• Drill the Hole S021 (SZ-33 and -34 plates) returned 145 m of 0.32% CuEq E 89m of 0.34% CuEq

Richard Lock, CEO of Oroco, said, “I am delighted to say that the overall Santo Tomas 2022-2023 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 look forward to this assessment being further supported by the upcoming release of an updated mineral resource estimate and subsequent preliminary economic assessment.

SOUTH ZONE PROGRAM

The Company has completed its current 21-hole South Zone (12,154m) drill program designed to confirm and test mineralized structures in the South Zone, with all results disclosed.

Historical drilling, surface geological mapping and the Dias Geo 3D induced polarization survey have defined near surface projected mineralization to 400m below surface over a strike length of 2,000m in the southern zone.

Although the current drilling program only partially tests the southern zone, historical drilling and the 2022-2023 drilling program conclusively define a NNO to NNE trending zone of faults, Laramide-aged intrusion, breccias hydrothermal and mineralization events along the entire two-kilometre-long southern corridor. of hole N043 in the North Zone.

• O northern segment of the southern zonebetween holes N043 and S012, representing a 500 m long undrilled corridor, will be tested in a future drilling program.
• O middle segment of the South Zone extends from hole S012 southward to holes S002 and S007 (plates SZ-49 to SZ-63). Drilling demonstrates a zone of moderate grade shallow mineralization at a depth of 200 to 400 m below surface over a strike length of approximately 700 m. Additional drilling is required to confirm continuity in this zone.
• O southern segment of the southern zone extends south of holes S002 and S007 along a vein of approximately 800 m to hole S021. Holes S001, S003 to S004 and S015 to S021 (plates SZ-33 to SZ-47) demonstrate continuous good-grade mineralization in a south-west dipping zone at least 300 m wide, extending from surface up to 200-400 m depth. As these holes test an area of ​​the South Zone that begins within and extends beyond the historical resource, they potentially add significant tonnage to the mineral resource estimate being prepared to support the assessment. Preliminary economic forecast (see Figure 1 and Plate SZ-33).

DRILL RESULTS – SOUTHERN SEGMENT OF THE SOUTH ZONE

• Drill the Hole S019 (SZ-36 plate) returned two mineralized intervals (see Table 1 below).
• Drill the hole S020 (plates SZ-46 and -47) returned two mineralized intervals, the most significant of which is 221.7m of 0.45% CuEq .
• Drill the Hole S021 (Plates SZ-33 and –34) returned two mineralized intervals of 145m of 0.32% CuEq It is 89m of 0.34% CuEq, What understand 25m of 0.81% CuEq.

All drilling tested the deposit approximately perpendicular to its structural attitude. Core deviations are approximately 10% of actual thickness. Test results and cross-sections from all South Zone, North Zone and Brasiles Zone drilling released to date are available on the Company’s website.

Table 1: Significant test intervals for the 2021-2023 program, boreholes S019 to S021:

equivalent of Ass (CuEq)% = Cu% + (Mo%*3.75) + (Au ppm*0.752). Commodity prices (3-year average) used are in US dollars: $3.20 Cu/lb, $12.00 Mo/lb, and $1,650.00 Au/troy oz. Ag values ​​are not used in CuEq calculations.

Intrusive dykes and mineralization of Laramide age, bathed to the west, dominate the North and South Zones. In particular, the southern segment of the South Zone presents a contrasting geology. Drilling intersects the mineralized hydrothermal breccia and a broad zone of mineralized veins/fractures that overlie the earlier west-dipping mineralization of the South Zone. The levels are comparable and locally wider than in the North Zone.

NORTH ZONE PROGRAM

The Company continued its horizontal drilling from the base of the Santo Tomas Range, testing the 400m south of the North Zone, south of hole N038, to depths of 300-500m below surface. This program, comprising holes N044 to N047, completed three of the four planned holes.

TECHNICAL INFORMATION AND QUALITY CONTROL / QUALITY ASSURANCE

Historical drill data used in this exploration program has been subject to the data verification procedures referred to in this technical report. Additional drill collar checks have been performed on the current program, and collar locations closely match the 2021/2022 survey check. Appropriate QA/QC protocols governed geological profiling, core sampling, sample preparation, analysis and safety during the current program, including quality checks with duplicates, standards and whites. The samples were submitted to the Mexican division of ALS Limited in Hermosillo, Mexico for pulp sample preparation. Pulp samples are then shipped to ALS Canada Ltd. to Vancouver, Canada for analysis. Total copper and molybdenum contents are determined by four-acid digestion with an AAS finish. Gold was determined by fire testing a 50 gram load, or alternatively, a 30 gram load (1 test ton).

QUALIFIED PERSON

Mr. Paul McGuigan, P. Geo., of Cambria Geosciences Inc., a “Qualified Person” (as defined in NI 43-101 – Mining Project Disclosure Standards ) and a senior consulting geoscientist of the Company, have reviewed and approved the technical information contained in this press release. The Company strictly follows CIM best practice guidelines in the conduct, documentation and reporting of exploration activities at its projects.

ABOUT OROCO

The Company holds an 85.5% net interest in the 1,172.9 ha central collective concessions of the Santo Tomas project in northwestern Mexico. The Company also holds an 80% interest in 8,154.3 ha of mining claims around and adjacent to the main claims (for a total project area of ​​23,048 acres). The project is located in Santo Tomas district, which stretches from Santo Tomas to Jinchuan Group’s Bahuerachi project, about 14 km to the northeast. Santo Tomas hosts a significant copper porphyry deposit defined by previous exploration spanning the period from 1968 to 1994. During this period the property was tested by over 100 diamond and reverse circulation holes totaling approximately 30,000 meters . Based on the data generated from these drilling programs, a historical pre-feasibility study was completed by Bateman Engineering Inc. in 1994. The company is nearing completion of its 2021-2023 drilling program at Santo Tomas with a total approximately 49,000 meters drilled in 76 diamond drill holes to date.

The Santo Tomas project is located 160 km from the deep water port of Topolobampo in the Pacific and is serviced by road and proximal rail (and parallel corridors of power lines and natural gas) through the town of Los Mochis to to the town of Escolha. The property is accessible via a 32 km access road originally built to service Goldcorp’s El Sauzal mine in the state of Chihuahua.

For more information please contact:

Richard Lock, CEO

Oroco Resource Corp.

Phone: 604-688-6200

Email: info@orocoresourcecorp.com

www.orocoresourcecorp.com

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 adequacy or accuracy of this release.

Caution 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 laws. All statements other than statements of historical facts included herein, including, without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There is no guarantee that these forward-looking statements will be accurate, and actual results and future events could differ materially from those anticipated or implied by these statements. Many factors, known and unknown, could cause actual results, performance or achievements to differ materially 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 press release regarding these matters. Oroco assumes no obligation to update forward-looking statements if they change, except as required by law.