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Oroco Announces Management Changes


August 7, 2009

VANCOUVER, British Columbia – (August 7, 2009) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce an addition to the Board of Directors of the company as well as management changes within the company.

Mr. Ken Thorsen has been appointed by the Board of Directors as the new Chairman of the Board and has resigned as President and Chief Executive Officer. Mr. Thorsen continues to manage Oroco’s exploration and development of the Cerro Prieto project and this new appointment will allow him to devote his time more specifically to this and the company’s other resource projects.

Mr. Craig Dalziel has been appointed to the Board of Directors and will become the new President and Chief Executive Officer. Mr. Dalziel brings over 25 years of financial and investment experience to the company, most recently as President and a Director of ATM Mining Corp., a British Columbia resource management company which founded both Oroco Resource Corp. and Northern Rand Resource Corp. Northern Rand is a TSX-V listed company of which Mr. Dalziel is currently President and Chief Executive Officer.

Mr. Stephen Leahy has resigned his position as Executive Chairman and will remain as a director of and financial consultant to the company.

These changes and additions to management will assist in the execution of the strategy of the company, which remains the accelerated development of the Cerro Prieto precious and base metal resource in northern Sonora, Mexico. As a part of that strategy, the company has recently commenced an 8000 meter drill program with the initial goal of expanding resources to the north of the existing (indicated) resource of 297,000 ounces of oxide gold.

For further information, please contact: 
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200
www.orocoresourcecorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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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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