Oroco Receives Approval for Whittle Share Payment

Rhea-AI Summary

Oroco Resource Corp. (TSX-V: OCO; OTC: ORRCF) has received TSX Venture Exchange approval for its engagement with Whittle Consulting Ltd. to conduct a Strategic Option Study for the Santo Tomas porphyry copper project. The study, valued at US$570,000, will optimize mine planning and guide pre-feasibility work.

As part of the payment structure, Oroco will issue 1,560,000 common shares at $0.30 per share (worth US$342,000) and grant 780,000 incentive share purchase options at $0.45 per share, exercisable for 36 months. The shares will have a 4-month trading restriction. The study has begun with completion expected in October 2025.

Positive

• None.

Negative

• Share issuance of 1,560,000 shares will cause dilution
• Additional 780,000 shares potential dilution through options

VANCOUVER, Canada, July 29, 2025 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO; OTC: ORRCF) (“Oroco” or the “Company”) is pleased to announce that the terms of the Company’s engagement of Whittle Consulting Ltd. (“Whittle”) have received the approval of the TSX Venture Exchange.  As announced on July 2, 2025, Whittle will undertake to provide a Strategic Option Study (the “Study”) for the Company that is intended to optimize the mine plan and guide the pre-feasibility work for the Company’s Santo Tomas porphyry copper project.  Payment terms for the Study work performed include the issuance to Whittle of 1,560,000 common shares of the Company at a deemed value of $0.30 per share (the “Fee Shares”) in partial payment (US$342,000) of the total fees of US$570,000 for the Study.  The Company will also grant to Whittle 780,000 incentive share purchase options (the “Options”), with each Option entitling Whittle to purchase one common share for $0.45 for a period of 36 months.  The Fee Shares are subject to a 4-month trading restriction from the date of issuance.  The Study has commenced with the final report anticipated in October of this year.

ABOUT OROCO

The Company holds a net 85.5% 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 4,948 hectares of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 6,121 hectares, or 15,125 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 Project hosts significant copper porphyry mineralization initially defined by prior exploration spanning the period from 1968 to 1994.  During that time, the 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.

Subsequent to the drilling at Santo Tomas, the 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 online at the Company’s website at www.orocoresourcecorp.com and by reviewing the Company profile on SEDAR+ at www.sedarplus.ca.

The Santo Tomás 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 can be found on its website and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

For more information, please contact:

Craig Dalziel, Chairman
Oroco Resource Corp. 
Tel: 604-688-6200 
Email: info@orocoresourcecorp.com 
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 is the value of Whittle Consulting's Strategic Option Study for Oroco Resources (ORRCF)?

The total value of the Strategic Option Study is US$570,000, with US$342,000 being paid in shares and the remainder in cash.

How many shares will Oroco Resources (ORRCF) issue to Whittle Consulting?

Oroco will issue 1,560,000 common shares at $0.30 per share and grant 780,000 share purchase options at $0.45 per share.

When will Whittle Consulting complete the Strategic Option Study for Oroco's Santo Tomas project?

The final report is anticipated to be completed in October 2025.

What is the purpose of Whittle Consulting's study for Oroco Resources (ORRCF)?

The Strategic Option Study will optimize the mine plan and guide pre-feasibility work for Oroco's Santo Tomas porphyry copper project.

What are the terms of the share options granted to Whittle Consulting by Oroco?

The options allow Whittle to purchase 780,000 common shares at $0.45 per share over a period of 36 months.