Mr. Richard Lock reports

OROCO COMPLETES FINAL CLOSING OF NON-BROKERED PRIVATE PLACEMENTS

Oroco Resource Corp. has closed a non-brokered private placement raising net proceeds of $1,028,000 through the sale of 2.57 million units at a price of 40 cents per unit. Each unit consists of one share and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one share at the price of 65 cents per share for a period of 18 months from closing.

Commenting on the private placement, Richard Lock, chief executive officer, stated: "In completing our recent series of private placements, we are very pleased to have exceeded our overall funding goal of $5-million, despite the highly adverse market conditions. We see this as a positive indication of the significant value that the Santo Tomas project holds for Oroco."

The company intends to use the proceeds of the private placement to continue improving various underlying aspects of the company's preliminary economic assessment, including those relating to the Santo Tomas mine plan, together with property maintenance and corporate overhead.

The company will pay 75,000 shares to an agent as finder's fees in connection with this financing. Those shares and any other shares issued, or warrants exercised pursuant to the terms of the private placement, are subject to a hold period expiring June 17, 2024. The private placement was carried out under prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

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.

We seek Safe Harbor.