Mr. Richard Lock reports

OROCO FILES PEA TECHNICAL REPORT FOR SANTO TOMAS

Oroco Resource Corp. has filed an independently prepared preliminary economic assessment (PEA) technical report for its Santo Tomas project in Sinaloa, Mexico.

The report, dated Oct. 11, 2023, and titled "Santo Tomas Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment," has been prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Results of the PEA were previously announced in the company's news release dated Oct. 17, 2023. There are no differences in the report from those results previously reported.

The report is available on the company's website and on SEDAR+ under the company's issuer profile.

About Oroco Resource Corp.

The company holds a net 85.5-per-cent interest in those central concessions comprising 1,173 hectares of the Santo Tomas project located in northwestern Mexico. The company also holds an 80-per-cent 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 kilometres 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 metres. Commencing in 2021, Oroco conducted a drill program (phase 1) at Santo Tomas, with a resulting total of 48,481 metres 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 million tonnes at 0.37 per cent copper equivalent and 549 Mt at 0.34 per cent CuEq, respectively.

The project is located within 160 km of the Pacific deepwater 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.

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