Oroco Resource Corp. announces assay results from drill holes S001 through S003 (2,052 m of drilling) of its drilling program in the South Zone of its Santo Tomas property. The South Zone 2022 drill program is designed to confirm and expand the historical South Zone resource and define shallow seated mineralization along strike with the North Zone.

A total of 12 drill holes have now been completed in the South Zone, with results pending for S004 through S012. Drill holes S001, S002, and S003 targeted the south-central area of the South Zone. All three holes identified significant intervals of mineralization of a similar tenor to that of the North Zone, with mineralization starting at less than 30 m in each hole.

Drill hole S003, the most southerly of the three holes, lies approximately 1,400 m south of North Zone, extending the strike of mineralization in the North Zone and South Zone (south of the Fuerte River) to a total of approximately 3,200 m. Drill hole S003, which was drilled at the south-central area of the historical South Zone, confirms that the zone is open for extension to the southern area of the historical zone, providing an additional 500 m of drill targets. In aggregate, historical and current drilling combined with a broad 3D IP anomaly (comprised of High Chargeability and Low Resistivity), confirm that the South Zone mineralization extends for 2,100 m along the surface and to a depth of up to 400m below surface. All drill holes tested the South Zone deposit perpendicular to its structural attitude.

Core intervals are within approximately 10% of true thickness. Drill hole S001 (Plate 34) returned 271 m of 0.37% CuEq starting at 27m from surface. Drill hole S002 (Plate 49) returned three main mineralized intervals, starting at 23 m from surface, the most significant of which is 140 m of 0.28% CuEq.

Drill hole S003 (Plate 43) returned 5 main intervals of mineralization, starting at 13 m from surface, with the most significant being 277.4 m of 0.39% CuEq. The Company has now completed 41 drill holes (27,004m of drilling) in its 2021-2022 North Zone drilling program designed to confirm and expand the 2009 Gradeshell model of Cu >0.30% derived from the historical drilling described in the Company's 2019 Technical Report, delineate higher grade, near-surface mineralization amenable to open-pit mining methods, while reducing the amount of historic waste rock stripping required. To date, the program has confirmed good grade mineralization along 1,200 m of strike at surface in a westward dipping panel with consistent grades down-dip to about 400-500 m depth below the ridge, bottoming at about sea level.

Results of drill holes N001 through N031 have been released. Historical drilling has sparsely tested an additional 600m of North Zone strike length south of N020, which is the most southerly North Zone drill hole for which the Company has assay results. Four drill holes have been completed in this extension and assays are pending.

The program is nearing completion with the remainder of the program focussed on expanding the shallow seated mineralized zone on the hanging wall along the south-west side of the Gradeshell with the goal of increasing the resource in this newly identified zone.