Oroco Resource Corp. announced assay results from an additional 3,050 m of drilling from holes N015 through N018 of its drilling program in the North Zone of its Santo Tomas property (the "Property") in northwestern Mexico. The program is proceeding well with the results continuing to confirm and expand the 2009 Gradeshell model of Cu > 0.30% (the "Gradeshell") derived from the historical drilling described in the Company's 2019 Technical Report.

A total of 26 holes (18,136 m of drilling) have now been completed in the North Zone, spanning 1,100 m of strike length, with intersections of good grade mineralization returned in all holes for which the Company has received assays. Drill Hole N015 targeted the 2009 Gradeshell at the current southern extremity of the North Zone drill program. The hole returned intervals of 292 m of 0.36% Copper Equivalent (CuEq) and 24 m of 0.25% CuEq.

Drill Hole N015 lies approximately 110 m south of Drill Hole N010, which returned 311 m of 0.42% CuEq, and approximately 210 m south of Drill Hole N008, which returned 328.3 m of 0.45% CuEq. Drill Hole N016 targeted the deposit to the west of the Gradeshell at the current northern end of the North Zone drill program, down dip from Drill Holes 11 and 13. The hole returned three main mineralized intervals: 95.4 m of 0.37% CuEq, 44.7 m of 0.46% CuEq and 88.7 m of 0.31% CuEq.

Additional shorter intervals were returned at depth below the Gradeshell. Drill Hole N017 targeted the deposit to the west of the Gradeshell and downdip from Drill Hole N015 at the current southern extremity of the North Zone drill program. Most notably, good mineralization was identified less than 100 m from surface, with the hole returning two main intervals consisting of 63.8 m of 0.37% CuEq and 159.2 m of 0.28% CuEq.

Drill Hole N018 targeted the deposit at the western edge of the Gradeshell in the center of the strike length of the North Zone drill program. The hole returned several shorter intervals, including 21 m of 0.42% CuEq, 10 m of 0.68% CuEq and 42.3 m of 0.38% CuEq, over approximately 250 m, of which approximately 175 m was outside the Gradeshell. In context, the results of N017 at the current southern extremity of the North Zone drill program, N018 at the center, and N016 at the northern end, demonstrate newly discovered shallow-seated mineralization located westward and in the hanging wall of the main North Zone deposit, indicating a broader North Zone deposit extending further westward and much closer to surface than previously modelled.

The North Zone drilling program is designed to confirm and expand the 2009 Gradeshell model, with the goal of delineating near-surface mineralization amenable to open-pit mining methods and the reduction of waste rock stripping ratios. Drilling to date along 1,100 m of strike length (of which 1,000 m is along the historically indicated 1,600 m strike length of the North Zone deposit) has confirmed the NNE strike and moderately westerly dipping geometry of the deposit. Drill results confirm good grade mineralization contained in a gently north-plunging panel that is expressed at surface along the Santo Tomas ridge and extends consistently to about 400-500 m depth below the ridge, bottoming at approximately sea level.

Drilling in the North Zone to the end of 2022 will focus on supporting a mineral resource estimate by: Extending confirmation of North Zone mineralization southward along the remaining 600 m of historical strike length, with targets between the 100 m and 600 m elevation. Infill definition drilling. Definition drilling of newly discovered shallow-seated mineralization located westward and in the hanging wall of the main North Zone deposit.

Successful drilling of the new hanging wall zone will define mineralized tonnage between the Santo Tomas ridge and the Gradeshell, potentially significantly reducing the amount of waste rock stripping required to access North Zone mineralization. Historical drilling, surface geological mapping and the Dias Geo 3D Induced Polarization survey have defined near-surface mineralization in the South Zone. Historical drilling documents good mineralization that is open to depth at 400 m below surface.

The Company will commence a drill program targeted at testing the South Zone in 2022. The historical drilling data employed in this current exploration program was the subject of Data Verification procedures cited in the current Technical Report. Additional drill collar verifications were performed in the current program and collar locations fit closely to the 2021/2022 survey control.

Appropriate QA/QC protocols governed geological logging, core sampling, sample preparation, analyses, and security during the current program, including quality controls with duplicates, standards, and blanks. Samples were submitted to the Mexican division of ALS Limited in Hermosillo, Mexico, for sample preparation to pulps. Sample pulps are then sent to ALS Canada Ltd. in Vancouver, Canada, for analysis.

Total copper and molybdenum contents are determined by four-acid digestion with AAS finish. Gold was determined by fire assay of a 50-gram charge, or alternately, of a 30-gram charge (1 Assay ton).