Mr. Craig Dalziel reports

OROCO ANNOUNCES RESIGNATION OF CEO

Richard Lock has resigned as chief executive officer and a director of Oroco Resource Corp. for personal reasons, effective April 30, 2026.

Mr. Lock commented: "I am grateful for the opportunity to have led Oroco since April, 2022, and for the dedication of the team in advancing the Santo Tomas project and the company's objectives. It has been a privilege to contribute during this important phase of growth and development. I wish the company continued success in the years ahead."

The Oroco board and the company's management team would like to thank Mr. Lock for his service and contributions to the company, and wish him all the best with his future endeavours.

The company has formed a committee to aggressively search for a new CEO and will provide an update regarding the success of such search in due course. In the meantime, the company will continue its current work toward completing its prefeasibility study under the leadership of the board and senior management working with its on-site technical team and leading industry consultants.

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 concessions, 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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