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Drilling continues at both the North Zone and Brasiles. The program is enjoying the benefits of a more proximal water source owing to the arrival of the rainy season, which is characterised by monsoonal downpours. Our 2021 experience and some investment in road equipment (grader, small excavator) and the construction of stone storm walls by a community team during the dry season has helped minimise the impact of the rains and to keep 24/7 drilling operations continuing smoothly thus far.

At the North Zone, focus remains on drilling the west flank at hole N021: however at drill hole N022 we have commenced with some shallower angle drilling from a collar on the east slope. Hole N022 was collared following the completion of Hole N020, the southernmost holes yet drilled by Oroco in the current program. Both drill holes are proceeding well.

At Brasiles the drilling of hole B007 continues to test the northward continuation of Brasiles west below the limestone cover. The hole steps 400m northward of previous Oroco drilling on the Brasiles West Zone. 

The Company has expanded the core sawing facility at Ranchito in preparation for the August mobilization of additional drilling capacity.

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These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

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