OROCO ANNOUNCES RESIGNATION OF CEO

Rhea-AI Summary

Oroco Resource Corp (OTC: ORRCF) announced that Chief Executive Officer and director Richard Lock will resign for personal reasons, effective April 30, 2026. The Board thanked Mr. Lock for his service and formed a committee to search for a new CEO.

The company said it will continue work to complete its Pre-Feasibility Study under Board and senior management with on-site technical teams and industry consultants, and will provide updates on the CEO search in due course.

Positive

• CEO resignation announced with a clear effective date: April 30, 2026
• Board formed a search committee to replace the CEO
• Pre-Feasibility Study work will continue under the Board and senior management

Negative

• Departure of CEO creates near-term leadership transition risk
• Uncertainty over successor timeline until the committee reports results

VANCOUVER, Canada, March 30, 2026 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or the “Company”) announces the resignation of Richard Lock as Chief Executive Officer and a director of the Company for personal reasons, effective April 30, 2026.

Mr. Lock commented: “I am grateful for the opportunity to have led Oroco since April 2022 and for the dedication of the team in advancing the Santo Tomás Project and the Company's objectives.  It has been a privilege to contribute during this important phase of growth and development.  I wish the Company continued success in the years ahead.”

The Oroco Board and the Company’s management team would like to thank Mr. Lock for his service and contributions to the Company and wish him all the best with his future endeavours.

The Company has formed a committee to aggressively search for a new CEO, and will provide an update regarding the success of such search in due course.  In the meantime, the Company will continue its current work towards completing its Pre-Feasibility Study under the leadership of the Board and senior management working with its on-site technical team and leading industry consultants.

ABOUT OROCO

The Company holds a net 87.0% interest in those central concessions that comprise 1,173 hectares "the Core Concessions" of the Santo Tomas Project, located in northwestern Mexico. The Company also holds an 80% interest in an additional 7,861 hectares of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 9,034 hectares, or 22,324 acres). Following an assessment of one of the non-Core Concessions, the Company filed an application to reduce the area of that concession, with the result that the additional concessions will total 4,948.24 hectares, for a total Project area of 6,121.11 hectares or 15,124.47 acres. The Project is situated within the Santo Tomas District, which extends up to the Jinchuan Group's Bahuerachi Project, approximately 14 km to the northeast. The Santo Tomas Project hosts significant copper porphyry mineralization initially defined by prior exploration spanning the period from 1968 to 1994. During that time, the Santo Tomas Project area was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Commencing in 2021, Oroco conducted a drill program (Phase 1) at Santo Tomas, with a resulting total of 48,481 meters drilled in 76 diamond drill holes.

The drilling and subsequent resource estimates and engineering studies led to a revised MRE and an updated PEA being published and filed in August of 2024, which studies are available at the Company's website www.orocoresourcecorp.com and by reviewing the Company profile on SEDAR+ at www.sedarplus.ca.

The Santo Tomas Project is located within 170 km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached, in part, by a 32 km access road originally built to service Goldcorp's El Sauzal Mine in Chihuahua State.

Additional information about Oroco Resource Corp. can be found on its website at www.orocoresourcecorp.com and by reviewing its profile on SEDAR at www.sedarplus.com.

For more information, please contact:

Mr. Craig Dalziel, Executive Chairman
Oroco Resource Corp.
Tel:  604-688-6200
www.orocoresourcecorp.com

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

Cautionary Note Regarding Forward-Looking Information

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including, without limitation, statements relating to future events or achievements of the Company, and the use of funds from the Offering, are forward-looking statements. There is no assurance that the proceeds of the Offering will be expended as contemplated. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.

Christy Fabros
Oroco Resource Corp. 
(604) 688-6200
info@orocoresourcecorp.com

FAQ

What did Oroco (ORRCF) announce about its CEO on March 30, 2026?

Oroco (ORRCF) announced that CEO Richard Lock will resign for personal reasons, effective April 30, 2026. According to the company, the Board thanked Mr. Lock and formed a committee to search for a new CEO while operations continue.

Who will lead Oroco's Pre-Feasibility Study after Richard Lock's resignation (ORRCF)?

The Board and senior management will lead the Pre-Feasibility Study after Mr. Lock's departure. According to the company, on-site technical teams and leading industry consultants will continue execution during the CEO transition.

When is Richard Lock's resignation effective for Oroco (ORRCF)?

Richard Lock's resignation is effective April 30, 2026. According to the company, he stepped down for personal reasons and the Board has initiated an aggressive CEO search to identify a successor.

How is Oroco (ORRCF) handling CEO succession planning after the March 30, 2026 announcement?

Oroco has formed a committee to aggressively search for a new CEO and will provide updates in due course. According to the company, interim leadership responsibilities rest with the Board and senior management.

Does Richard Lock's resignation (ORRCF) affect ongoing project work at Oroco?

The company says Pre-Feasibility Study work will continue under Board and senior management oversight. According to the company, on-site technical teams and consultants remain engaged to maintain project continuity.