*This statement is translated by an automated system.

Vancouver, Canada, March 29, 2023 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “Company”) announced the results of testing drill holes S019 to S021 (drill 1,553 m) of the South Zone drilling program on the Santo Tomás property (” Property “) is located in northwestern Mexico (see Table 1, Figure 1 (Figure 3 on the Company’s website) and the Southern Zone section, attached). To view an interactive 3D model that includes the Zona Sur results announced today, use the following link: https://vrify.com or visit the Oroco website: orocoresourcecorp.com .

DRILL HIGHLIGHTS:

• Drill hole S020 (SZ-46 and -47 plates) were thrown 221.7m of 0.45% CuEq
• Hole S021 (SZ-33 and -34 plates) return 145 m of 0.32% CuEq Y 89m of 0.34% CuEq

Richard Lock, CEO of Oroco, commented: “I am very pleased to say that the entire Santo Tomas 2022-2023 drilling program has validated my decision to join Oroco about a year ago. This project clearly lives up to my expectations as a very attractive acquisition target and I look forward to this assessment being further verified with the forthcoming release of the Updated Mineral Resource Estimates and Preliminary Economic Assessment that will follow.”

SOUTH AREA PROGRAM

The Company has now completed a current drill program of 21 holes in the South Zone (12,154 m) designed to confirm and test the structure of the South Zone mineralization, with all results published.

Historical drilling, surface geological mapping and 3D induced polarization surveys by Dias Geo have determined projected near-surface mineralization to 400 m below surface with a strike length of 2000 m in the South Zone.

While the current drill program has only partially tested the South Zone, historic drilling and the 2022-2023 drill program conclusively define the NNW to NNE fault zones, Laramide-aged intrusions, hydrothermal breccias and mineralization along the two-kilometre long corridor. . south of North Zone drill hole N043.

• He northern segment of the Sur Zone between drill holes N043 and S012, which represent a 500 m long undrilled corridor, will be tested in a future drill programme.
• He the middle segment of the South Zone extending from drill hole S012 south to holes S002 and S007 (Slides SZ-49 to SZ-63). Drilling revealed a zone of medium grade shallow mineralization at depths of 200 to 400 m below surface with a strike length of approximately 700 m. Additional drilling is required to ensure continuity in this area.
• He the southern segment of the Sur Zone it extends south of drill holes S002 and S007 for a strike length of approximately 800 m to drill hole S021. Drill holes S001, S003 through S004 and S015 through S021 (Plates SZ-33 through SZ-47) show good grade continuity of mineralization within a 300m-wide southwestern sinkhole zone extending from surface to 200-400m. overall. As these drill holes testing an area of ​​the South Zone starting within and beyond the historic resource, they have the potential to add significant tonnage to the mineral resource estimate being prepared to support the planned Preliminary Economic Assessment (see Figure 1 and Plate SZ-33).

DRILLING RESULTS – THE SOUTH SEGMENT OF THE SOUTH ZONE

• Drill hole S019 (Slate SZ-36) returns two mineralized intervals (see Table 1 below).
• Drill hole S020 (SZ-46 and -47 plates) resulted in two mineralized intervals, the most significant being 221.7m of 0.45% CuEq .
• Drill hole S021 (SZ-33 and –34 plates) yielded two mineralized intervals of 145m of 0.32% CuEq And 89m of 0.34% CuEq, That including 25m of 0.81% CuEq.

All holes tested the deposit approximately perpendicular to their structural attitude. The core interval is within 10% of actual thickness. Test results and cross sections of all the Zona Sur, Zona Norte and Zona Brasiles drill holes published to date are available on the Company’s website.

Table 1: Significant test intervals in the 2021-2023 program, drilling S019 to S021:

cu Equivalent (CuEq) % = Cu % + (Mo %*3.75) + (Au ppm*0.752). Raw material prices (3 year average) used are in US$: $3.20 Cu/lb, $12.00 Mo/lb and $1650.00 Au/troy oz. Ag values ​​are not used in CuEq calculations.

West-dipping Laramide-era intrusive mineralization and embankments dominate the North and South Zones. In particular, the southern part of the Sur Zone has contrasting geology. The drilling intersected mineralized hydrothermal breccias and an extensive vein/fracture zone of mineralized stocks extending beyond the previously west-dipping South Zone mineralization. Values ​​are comparable and locally larger in width than in the North Zone.

NORTH REGIONAL PROGRAM

The company continued to drill horizontally from the base of the Santo Tomas ridge testing 400 m south of the North Zone, south of well N038, at a depth of 300 to 500 m below surface. The program, which consists of drill holes N044 to N047, has completed three of the four planned wells.

TECHNICAL INFORMATION AND QUALITY CONTROL / QUALITY ASSURANCE

Historical drilling data used in the current exploration program is the subject of the Data Verification procedure cited in the current Technical Report. Additional drill collar inspections were performed in the current program, and the collar locations closely match the 2021/2022 survey inspections. Proper QA/QC protocols govern logging, core sampling, sample preparation, testing and security during the current program, including quality checks with duplicates, standards and blanks. Samples were sent to the Mexican division of ALS Limited in Hermosillo, Mexico, for pulp sample preparation. The pulp samples were then sent to ALS Canada Ltd. in Vancouver, Canada for analysis. The total copper and molybdenum content was determined by four acid digestion with an AAS solution. Gold is determined by fire testing a 50 gram load, or alternatively, a 30 gram load (1 ton test).

QUALIFIED PERSON

Mr. Paul McGuigan, P.Geo., of Cambria Geosciences Inc., “Qualified Person” (as defined in NI 43-101 – Mineral Project Disclosure Standards ) and the senior geoscientist consultant for the Company, have reviewed and approved the technical disclosures in this press release. The company strictly adheres to CIM’s Best Practice Guidelines when conducting, documenting and reporting exploration activities in its projects.

ABOUT OROCO

The company has a net participating interest of 85.5% in the Santo Tomás Project’s collective Basic Concession of 1,172.9 ha in northwestern Mexico. The company also has an 80% working interest in 8,154.3 ha of mining concessions around and adjacent to the Main Concession (for a total project area of ​​23,048 hectares). The project is located in the District of Santo Tomás, which stretches from Santo Tomás to the Bahuerachi Grupo Jinchuan project, about 14 km to the northeast. Santo Tomás harbors a significant porphyry copper deposit determined by prior exploration covering the period 1968 to 1994. During that time, the property was tested with more than 100 reverse circulation and diamond drill holes, totaling approximately 30,000 meters. Based on the data generated by this drilling program, Bateman Engineering Inc. completed a landmark Pre-Feasibility Study in 1994. The company is close to completing its 2021-2023 drilling program at Santo Tomas with a total of approximately 49,000 meters drilled in 76 diamonds. drill holes to date.

The Santo Tomás project is located within 160 km of the deep sea Pacific port at Topolobampo and is served by a highway and proximal rail (and a parallel corridor of natural gas lines and power grids) through the city from Los Mochis to the northern city of Choix. The property is reached via a 32 km access road originally constructed to service Goldcorp’s El Sauzal mine in the state of Chihuahua.

For more information contact:

Richard Key, CEO

Oroco Resources Company.

Telephone: 604-688-6200

Email: info@orocoresourcecorp.com

orocoresourcecorp.com

Neither TSX Venture Exchange nor its Regulatory Service Providers (as such term is defined in the TSX Venture Exchange policies) are not responsible for the adequacy or accuracy of this release.

Note Concerning Forward-Looking Information

This press release includes certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities laws. All statements, other than statements of historical fact included in this document, including, without limitation, statements regarding future events or achievements of the Company, are forward-looking statements. There is no guarantee that such forward-looking statements will prove accurate, and actual results and future events could differ materially from those anticipated or implied by such statements. Many factors, both known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by such forward-looking statements. Readers should not rely unduly on the forward-looking statements and information contained in this press release with respect to this matter. Oroco does not have any obligation to update any forward-looking statements if they change, except as required by law.