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Oroco Closes $1 Million Non-brokered Private Placement


February 5, 2013

VANCOUVER, British Columbia – (February 5, 2013) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) announces that pursuant to the terms of its agreement with Goldgroup Mining Inc. (“Goldgroup”), announced by news release dated January 28, 2013, Goldgroup has now completed a subscription for five million units of Oroco at $0.20 per unit through a non-brokered private placement.  Each unit consists of one common share and one common share purchase warrant, with each warrant entitling Goldgroup to purchase one common share of Oroco for CAD$0.25 for a period of two years from the date of closing of the private placement.  Proceeds of the private placement are $1,000,000.

In accordance with applicable Canadian Securities Laws, the securities issued in connection with this private placement will be subject to a four-month hold period, which will expire on June 5, 2013.

The proceeds of the financing will be used for general working capital.

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

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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