*This statement has been translated by an automatic system.

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

HIGHLIGHTS OF FISCAL YEAR RESULTS:

• Drilling S020 (SZ-46 and -47 plates) discarded 221.7m of 0.45% CuEq
• The hole S021 (Plates SZ-33 and -34) returned 145 m of 0.32% CuEq Y 89m of 0.34% CuEq

Richard Lock, CEO of Oroco, said, “I am very pleased 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 expect this assessment to be further verified with the upcoming release of an updated mineral resource estimate and preliminary economic assessment. who will follow.”

SOUTH ZONE PROGRAM

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

Historical drilling, surface geological mapping and 3D induced polarization survey by Dias Geo have defined near surface mineralization projected 400m below surface over a strike length of 2000m in the South 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 fault zone, Laramide-aged intrusion, hydrothermal breccias and mineralization along the entire two kilometer corridor. . south of drill hole N043 of the North Zone.

• He northern segment of Zona Sur between drill holes N043 and S012, which represents a 500 m long undrilled corridor, will be tested in a future drilling program.
• He middle segment of the South Zone extends from borehole S012 southward to boreholes S002 and S007 (Slides 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.
• He southern segment of Zona Sur it extends south of boreholes S002 and S007 over a length of approximately 800 m to borehole S021. Holes S001, S003 to S004 and S015 to S021 (plates SZ-33 to SZ-47) demonstrate the continuity of good grade mineralization in a south-west chasm zone at least 300 m wide, which is extends from the surface to 200-400 m. thoroughly. As these drill holes are testing an area of ​​the South Zone starting within and extending beyond the historical resource, they potentially add significant tonnage to the mineral resource estimate being prepared to support the Preliminary economic assessment planned (see Figure 1 and Plate SZ-33).

DRILL RESULTS – SOUTHERN SEGMENT OF THE SOUTH ZONE

• The Borehole S019 (Plate SZ-36) returned two mineralized intervals (see Table 1 below).
• Drilling S020 (plates SZ-46 and -47) yielded two mineralized intervals, the most significant of which is 221.7m of 0.45% CuEq .
• The Borehole S021 (SZ-33 and -34 plates) yielded two mineralized intervals of 145m of 0.32% CuEq And 89m of 0.34% CuEq, What understand 25m of 0.81% CuEq.

All drilling tested the deposit approximately perpendicular to its structural attitude. Core intervals are within 10% of actual thickness. Assay results and cross-sections from all Zona Sur, Zona Norte and Zona Brasiles drill holes released to date are available on the Company’s website.

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

cu Equivalent (CuEq)% = Cu% + (Mo%*3.75) + (Au ppm*0.752). The raw material prices (average over 3 years) 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.

West-dipping Laramide-era mineralization and intrusive dykes dominate the north and south zones. In particular, the southern segment of Zona Sur has contrasting geology. The hole intersected a mineralized hydrothermal breccia and a large mineralized vein/fracture zone that overlies previous mineralization in the south to west dipping zone. The slopes 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 Ridge testing the 400 m south of the North Zone, south of the N038 well, at depths of 300 to 500 m below surface. This program, consisting of drill holes N044 to N047, completed three of the four planned wells.

TECHNICAL INFORMATION AND QUALITY CONTROL / QUALITY GUARANTEE

The historical drill data used in this exploration program has been subject to the data verification procedures cited in the current technical report. Additional drill collar checks have been completed as part of the current program, and collar locations closely match the 2021/2022 survey check. Appropriate QA/QC protocols governed logging, core sampling, sample preparation, testing, and safety during the ongoing program, including quality checks with duplicates, standards, and blanks . The samples were sent to the Mexican division of ALS Limited in Hermosillo, Mexico for preparation of pulp samples. Pasta samples are then sent to ALS Canada Ltd. to Vancouver, Canada for analysis. Total copper and molybdenum contents are determined by four-acid digestion with AAS finish. Gold was determined by fire assay of a 50 gram charge or, alternatively, a 30 gram charge (1 ton test).

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, has reviewed and approved the technical information contained in this press release. The Company strictly adheres to CIM best practice guidelines when conducting, documenting and reporting exploration activities on its projects.

ABOUT OROCO

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

The Santo Tomás project is located less than 160 km from the Pacific deepwater port at Topolobampo and is serviced by a highway and proximal railroad (and parallel corridors of natural gas and main power lines) through the city from Los Mochis to the northern city of Choice. 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 contact:

Richard Lock, CEO

Oroco Resources Corporation.

Phone: 604-688-6200

Email: info@orocoresourcecorp.com

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 fact included herein, including, without limitation, statements regarding 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 by such 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 with respect to these matters. Oroco undertakes no obligation to update forward-looking statements in the event of a change, except as required by law.