Mr. Craig Dalziel reports

OROCO CLOSES UPSIZED C$23M BOUGHT DEAL FINANCING LED BY CANACCORD GENUITY

Oroco Resource Corp. has closed its previously announced bought deal public offering of 60,526,340 units of the company at a price of 38 cents per unit for aggregate gross proceeds of approximately $23-million, including the exercise in full of the overallotment option granted by the company. The offering was led by Canaccord Genuity Corp., as lead underwriter and sole bookrunner, and Red Cloud Securities Inc.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of 53 cents until Jan. 15, 2029. The warrants are governed by a warrant indenture dated Jan. 14, 2026, between the company and Computer Trust Company of Canada as the warrant agent. Subject to final approval of the TSX Venture Exchange, the warrants are expected to begin trading on the TSX-V under the ticker symbol OCO.WT and Cusip No. 687033134 as at market open on Jan. 15, 2026. Pursuant to the terms of the warrant indenture, no fractional common shares will be issued on exercise of a warrant, and warrantholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares, and no cash consideration will be paid in respect of fractional shares. Warrantholders are encouraged to read the full text of the warrant indenture, which is available on the company's SEDAR+ profile.

In connection with the offering, the company paid the underwriters a cash commission equal to 6.0 per cent of the aggregate gross proceeds of the offering (including on the exercise of the overallotment option), subject to a reduced cash commission equal to 3.0 per cent in respect of gross proceeds from the sale of units to purchasers included on a president's list provided by the company to the underwriters.

The offering was completed by way of a prospectus supplement dated Jan. 9, 2026, to the company's short form base shelf prospectus dated April 23, 2025, filed in all provinces of Canada, other than Quebec. The units were also offered in the U.S. to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, and to accredited investors pursuant to Rule 506 (b) of Regulation D under the 1933 act, and in certain offshore jurisdictions, in each case in accordance with applicable securities laws.

The company intends to use the net proceeds from the offering to finance commencement of prefeasibility study drilling at the Santo Tomas copper project, to advance baseline environmental and permitting work, and for general corporate working capital.

Copies of the applicable offering documents can be obtained free of charge under the company's profile on SEDAR+. Delivery of the base shelf prospectus, the prospectus supplement and any amendments thereto was satisfied in accordance with the access equals delivery provisions of applicable Canadian securities legislation. An electronic or paper copy of the prospectus supplement and the base shelf prospectus may be obtained, without charge, from Canaccord Genuity by phone at 416-869-3052 or by e-mail at ecm@cgf.com by providing Canaccord Genuity with an e-mail address or address, as applicable.

About Oroco Resource Corp.

The company holds a net 87.0-per-cent interest in those central concessions that comprise 1,173 hectares, the core concessions, 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). Following an assessment of one of the non-core concession, the company filed an application to reduce the area of that concession, with the result that the additional concessions will total 4,948.24 hectares, for a total project area of 6,121.11 hectares or 15,124.47 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 Santo Tomas project hosts significant copper porphyry mineralization initially defined by prior exploration spanning the period from 1968 to 1994. During that time, the Santo Tomas 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.

The drilling and subsequent resource estimates and engineering studies led to a revised mineral resource estimate and an updated preliminary economic assessment being published and filed in August of 2024, which studies are available at the company's website and by reviewing the company profile on SEDAR+.

The Santo Tomas project is located within 170 kilometres of the Pacific deepwater port at Topolobampo, and is serviced by 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-kilometre access road originally built to service Goldcorp's El Sauzal mine in Chihuahua state.

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