Oroco Resource Corp. announced assay results from an additional 2,668 m of drilling from Holes N027 through N031 of its drilling program in the North Zone and 1,456 m of drilling from holes B006 and B007 in the Brasiles Zone of its Santo Tomas property (Property) located in northwestern Mexico. The 2021-2022 North Zone drill program is continuing to confirm and expand the 2009 Gradeshell model of Cu >0.30% (the “Gradeshell”) derived from the historical drilling described in the Company's 2019 Technical Report.

A total of 38 holes (24,850 meters of drilling) have now been completed in the North Zone, spanning approximately 1,400 meters of strike length, with intersections of good-grade mineralization returned in all holes for which the Company has received assays. All North Zone drill holes tested the deposit perpendicular to its structural attitude. Core intervals are within approximately 10% of true thickness.

Core intervals cited for Brasiles Zone drill holes B006 and B007 are near true width. Assay results and cross-sections through the first thirty-one North Zone drill holes (21,379 m of drilling) and the first seven Brasiles Zone drill holes (5,116.36 m) are available at the Company's website. Drill holes N027, N028, N030 and N031 continued the Company's plan of targeting shallow-seated mineralization of the North Zone along its length, with the goal of confirming and expanding the generally higher-grade historical results in this section of the zone.

The program has confirmed good-grade mineralization in a gently north-plunging panel along the Santo Tomas ridge, extending 1,200 meters along the strike at the surface. Drill hole N027 (Plate 57) returned 195.2 m of 0.45% CuEq starting at 17m from the surface, and 117 m of 0.25% CuEq starting in the Gradeshell and extending below it. Mineralization is shown to exist across the entire thickness of the Gradeshell and extends on both flanks.

Drill hole N028 (Plate 68) returned 132 m of 0.46% CuEq, extending across the entire thickness of the Gradeshell. Drill hole N030 (Plate 55) returned two main intervals: 211.6 m of 0.47% CuEq starting at 52.5 m and extending through the Gradeshell, and 133 m of 0.19% CuEq starting below the Gradeshell and extending to depth. Drill hole N031 (Plate 50) returned two intervals, with the main interval being 159.6 m of 0.37% CuEq starting from 125 m and extending across and slightly below the Gradeshell to 284.6 m, and 34.4 m of 0.28% CuEq starting at 292.0 m. The Company has continued its strategy of testing the hanging wall side of the deposit to the west of the Gradeshell.

Drill hole N029 (Plate 59) returned three mineralized intervals outside the Gradeshell, with a main interval of 106.1m of 0.36% Cu. The Company now has assays for eight drill holes along the hanging wall side of the deposit confirming good grade mineralization at higher elevations along 750 m of strike length to the west of the Gradeshell. Drill holes B006 and B007 continued the Company's testing of the western fringe of the Brasiles West Zone, which has strong geological similarities to the North Zone.

The Brasiles West Zone lies beneath a blanket of limestone in a westerly dipping, NE-trending zone of faulting and monzonite intrusion. Drill Hole B006 did not test the trend and returned 17.9 m of 0.35% CuEq. Cross-sections have not been provided as the Company's knowledge of the geology of the Brasiles Zone is not yet sufficiently advanced for them to be meaningful.

Drill Hole B007 returned 228.0 m of 0.37% CuEq, in a geological setting similar to the North Zone. Extensions of Brasiles West Zone are open to the NE. From B005 in the south, B003 in the center and B007 at the current northern extension of the Brasiles drill program, the Company has identified significant intervals of good grade mineralization in a NNE trending Brasiles West zone along a strike length of 800 m. North Zone Program: The Company's focus in the North Zone for the rest of 2022 is threefold: to continue expanding the mineralized zone on the hanging wall to the west of the Gradeshell along the length of the deposit to potentially increase the resource and reduce the amount of waste rock stripping required; to continue targeting the shallow-seated mineralization along the central axis (on the eastern flank of the ridge) of the North Zone to continue to confirm the higher grade shallow-seated mineralization along the length of the deposit; and to drill the relatively untested 600 m North Zone extension to the south of holes N015 and N017.

This area of the North Zone was sparsely drilled in historical drill programs and is prospective of greater width and depth than outlined in the historical modelling. The Company intends to drill with regular spacings to establish a mineral resource estimate in this area. South Zone Program: The Company has now mobilized three drills to confirm and expand the South Zone deposit, with four drill holes completed to date with assay results pending.

Historical drilling, surface geological mapping, and the Dias Geo 3D Induced Polarization survey have defined near-surface mineralization projected to 400 m below the surface along 2,500 m of strike length. Brasiles Zone Program: Drill holes B003 to B007 have confirmed the excellent potential of the Brasiles Zone, with the expectation that further exploration will delineate a significant mineralized deposit similar in nature to the North Zone. The Company has temporarily suspended the program on the Brasiles Zone to focus on completing the drilling in the North Zone and South Zone to provide a mineral resource estimate for the upcoming Preliminary Economic Assessment.