Oroco Resource Corp. announced the receipt of additional assay results from its drilling campaign at the Santo Tomas property in northwestern Mexico, having received and quality controlled the drill results from Holes N013 and N014 in the North Zone deposit. Assay results through the first fourteen drill holes (10,293 m of drilling) are now received.

A total of 20 holes have been completed in the North Zone to date. The 2021-2022 drill program has now spanned 1100 m of strike length along the core of the North Zone mineral deposit. The drill program is proceeding well with the targeted mineralization intersected at the anticipated depths and intervals in most drill holes.

The Company is pleased that its drilling results continue to confirm the following: Copper grades in holes N009 through N014 are comparable to the historical drilling reported on each related cross-section (see Plates 51-66, on the Company website). Results to date continue to confirm the geological conclusions and the 2009 Gradeshell Model contained in the 2019 Technical Report. Holes N013 and N014 indicate that the Gradeshell remains confirmed in its structural strike and dip.

However, importantly, the hanging wall mineralization is wider and nearer surface than first modelled from historical drilling. Targeting areas westward at shallow depths for the broader response in the 3D IP model under the Santo Tomas ridge is therefore confirmed. Drill Holes N001 to N014 test the North Zone deposit perpendicular to its structural attitude.

Core intervals for those holes are within approximately 10% of true thicknesses, except for N004. Assay results from the first fourteen drill holes (10,293 m of drilling) are now received and quality controlled. Over the span of drilling to date, drill holes N011 southward for 700 m to N010 establish the tenor the higher-grade portion of the North Zone.

Two diamond drill rigs are presently working on the North Zone, testing extensions northward, southward, and down-dip. Northward: Drill hole N013 tests to the northwest and down-dip of drill hole N011. Southward: Drilling has stepped out 350 m south of the previously reported drill hole N010 in an area concealed beneath a blanket of limestone and post-mineralization volcanic beds.

Two drill holes to the south are completed, and a third is in progress. Down-dip: Drill hole N014 tests down dip of N012 and N007. Drill Hole N013 intersected a broad 450 m interval of altered, mineralized andesite and monzonite intrusion at the northern extremity of current North Zone drill program.

That interval includes 128.0 m of 0.32% Copper Equivalent (CuEq), 30 m of 0.38% Cu Eq and 95.0 m of 0.45% CuEq. drill target is the 2009 Gradeshell model of Cu > 0.3% (the “Gradeshell”) of the historical drilling that is described in the Company's 2019 Technical Report. The higher-grade intervals of N013 confirm the Gradeshell.

Notably, outside of the Gradeshell, the hanging wall and footwall in N013 each contain greater than 120 m of altered lithologies with about 0.30 % CuEq, representing a local doubling of the target thickness of the North Zone deposit. The deposit is much closer to surface than our initial targeting implied. Drill Hole N014 intersected a broad 330 m interval of altered, mineralized andesite and monzonite intrusion at the down dip from the good intervals drilled in N012 and N007.

Within that interval, 126.0 m of 0.23 % CuEq was intersected at the bottom of the Gradeshell. The hanging wall of the North Zone in this section has several short 12 to 27 m intervals of promising grade, N014 indicates the North Zone is flattening and thinning down dip on Section 57 which is common in structurally controlled mineral deposits. West of N014 is a lobe of increasingly strong Chargeability response in the Dias Geo 3D Induced Polarization survey.

Notwithstanding the results of N014, this shallow, western geophysical target lies only 100 to 200 m below the flank of the Santo Tomas ridge and is a high priority drilling target.