VANCOUVER, Canada, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO, OTCQB: ORRCF) (the “Company” or “Oroco”) is pleased to announce that it has mobilized a diamond drill rig to its Santo Tomás copper project, located in northwestern Mexico, to commence drilling intended to support the upgrade of the mineral resource classifications in the project’s South Zone. This mobilization represents the practical start of Oroco’s Phase 2 on-site work program following the Company’s recent financing ...

Core Insights - Oroco Resource Corp. has granted 7,050,000 incentive stock options to its directors, officers, employees, and consultants at an exercise price of $0.85 per share, subject to TSX Venture Exchange approval [1] - The company aims to initiate its Phase 2 drill program at the Santo Tomas Project and continue work on a Pre-Feasibility Study following a recent financing led by Canaccord Genuity [2] - The Santo Tomas Project encompasses a total area of 9,034 hectares, with the company holding an 87% interest in the Core Concessions and an 80% interest in surrounding mineral concessions [3] Company Developments - The total outstanding incentive options now amount to 14,185,000, representing 4.4% of the currently issued shares of Oroco [1] - The Phase 1 drill program conducted by Oroco from 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [3] - A revised Mineral Resource Estimate (MRE) and updated Preliminary Economic Assessment (PEA) were published in August 2024, available on the company's website and SEDAR+ [4] Project Location and Infrastructure - The Santo Tomas Project is located 170 km from the Pacific deep-water port at Topolobampo, accessible via highway and rail, with supporting infrastructure including power lines and natural gas [5]

Core Points - Oroco Resource Corp. has successfully closed a bought deal public offering of 60,526,340 units at a price of C$0.38 per unit, raising approximately C$23 million in gross proceeds [1] - Each unit consists of one common share and one-half of a common share purchase warrant, with the warrants allowing the purchase of additional common shares at C$0.53 until January 15, 2029 [2] - The offering was led by Canaccord Genuity Corp. as the lead underwriter and included a cash commission of 6.0% on the gross proceeds, reduced to 3.0% for certain purchasers [3] Offering Details - The offering was completed via a prospectus supplement dated January 9, 2026, and was available in all Canadian provinces except Québec, as well as to qualified institutional buyers in the U.S. [4] - The net proceeds from the offering will be used to fund the commencement of a Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental and permitting work, and for general corporate working capital [5] Company Overview - Oroco holds an 87.0% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares of surrounding mineral concessions [8] - The Santo Tomás Project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [9] - The project is well-serviced, located within 170 km of a deep-water port and accessible via highway and rail [10]

Core Points - Oroco Resource Corp. has announced a "bought deal" public offering, filing a prospectus supplement to qualify the distribution of 52,631,600 units at a price of C$0.38 per unit, aiming for gross proceeds of approximately C$20.0 million [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional common share at C$0.53 for 36 months [2] - The offering is led by Canaccord Genuity Corp. and includes an option for underwriters to purchase an additional 7,894,740 units within 30 days of closing [3] - The expected closing date for the offering is around January 14, 2026, pending regulatory approval [4] Company Overview - Oroco holds an 87.0% interest in the Core Concessions of The Santo Tomas Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares of surrounding mineral concessions, totaling 9,034 hectares [7] - The Santo Tomas Project is located in northwestern Mexico and is known for significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [7] - Since 2021, Oroco has conducted a drill program at Santo Tomas, totaling 48,481 meters drilled in 76 diamond drill holes [8] - The project is strategically located within 170 km of the Pacific deep-water port at Topolobampo, with access via highway and rail [9][10]

Core Insights - Oroco Resource Corp. has increased its bought deal public offering to approximately C$20.0 million due to strong investor demand [1] - The offering will consist of 52,631,600 units priced at C$0.38 per unit, each unit comprising one common share and one-half of a common share purchase warrant [1][2] - An over-allotment option allows underwriters to purchase an additional 7,894,740 units, potentially raising total gross proceeds to approximately C$23.0 million if fully exercised [3] Offering Details - The offering will be completed via a prospectus supplement to the Company's short form base shelf prospectus filed in all provinces of Canada, excluding Québec [4] - The units may also be offered in the United States to qualified institutional buyers and accredited investors under specific regulations [4] Use of Proceeds - The net proceeds from the offering will be used to fund the commencement of Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental and permitting work, and for general corporate working capital [5] Closing Information - The closing of the offering is expected around January 14, 2026, subject to customary closing conditions and regulatory approvals [6] Company Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [7] - The project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [7] - A drill program initiated in 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [7][8]

Core Points - Oroco Resource Corp. has entered into an agreement with Canaccord Genuity Corp. for a bought deal offering of 39,474,000 units at C$0.38 per unit, aiming for gross proceeds of approximately C$15.0 million [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional common share at C$0.53 for 36 months [2] - The underwriters have an over-allotment option to purchase an additional 5,921,100 units, potentially increasing total gross proceeds to approximately C$17.25 million if fully exercised [3] Use of Proceeds - The net proceeds from the offering will be used to fund the commencement of Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental and permitting work, and for general corporate working capital [5] Project Overview - The company holds an 85.5% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [7] - The project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [7] - Oroco has conducted a drill program since 2021, totaling 48,481 meters drilled in 76 diamond drill holes [7][8] Logistics and Accessibility - The Santo Tomás Project is situated 170 km from the Pacific deep-water port at Topolobampo and is accessible via highway and rail [9]

Core Insights - Oroco Resource Corp. has successfully closed the second tranche of its non-brokered private placement, issuing 2,500,000 units at a price of US$0.20 per unit, resulting in gross proceeds of US$500,000 [1][2] - The total gross proceeds from both tranches amount to US$2,030,999, with a total of 10,154,995 units issued [1][2] - The funds raised will support the Phase 2 drill program at the Santo Tomas Project, aimed at advancing towards a Pre-Feasibility Study [2] Company Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomas Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [3] - The Santo Tomas Project is located in northwestern Mexico and is known for significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [3] - The company has conducted a Phase 1 drill program since 2021, totaling 48,481 meters drilled across 76 diamond drill holes [3][4] Project Details - The Santo Tomas Project is strategically located 170 km from the Pacific deep-water port at Topolobampo, with access via highway and rail [5] - The project area is serviced by infrastructure including power lines and natural gas, enhancing its logistical advantages [5]

Core Insights - Oroco Resource Corp. has successfully closed an initial tranche of its non-brokered private placement, raising gross proceeds of US$1,530,999 through the sale of 7,654,995 units at US$0.20 per unit [1][3] - Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of one share at US$0.30 for 24 months [1][3] - The financing was primarily subscribed by Mexico-based investors, including new independent director Faysal Rodriguez, who subscribed for 5 million units [2][4] Financial Use - Proceeds from the private placement will be utilized to advance the Santo Tomas Project towards its planned Pre-Feasibility Study and for general corporate purposes [3] - The closing of this financing is subject to final acceptance by the TSX Venture Exchange, with shares and any shares issued on the exercise of warrants subject to a hold period expiring on March 6, 2026 [3] Project Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomas Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [5] - The project is located in northwestern Mexico and hosts significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [5][6] - A drill program initiated in 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [5][6] Strategic Importance - The Santo Tomas Project is strategically located within 170 km of the Pacific deep-water port at Topolobampo, with access via highway and rail [7] - The project area is serviced by infrastructure originally built for Goldcorp's El Sauzal Mine, enhancing its logistical advantages [7]

Core Viewpoint - Oroco Resource Corp. is proceeding with a non-brokered private placement financing of up to 18,000,000 Units at a price of US$0.20 per Unit, aiming for gross proceeds of up to US$3.6 million, with a minimum of US$2.0 million anticipated [1][2] Financing Details - Each Unit consists of one common share and one-half of one common share purchase warrant, with each whole Warrant allowing the purchase of one common share at US$0.30 within 24 months [1] - The financing is designed to attract local strategic investors for the advancement of Oroco's Santo Tomas Project in Northern Sinaloa, Mexico [1][2] - The first tranche of the financing is expected to close early next week, with completion no later than November 13, 2025, subject to regulatory approvals [2] Project Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomas Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [3] - The project is located in the Santo Tomas District, near the Jinchuan Group's Bahuerachi Project, and hosts significant copper porphyry mineralization identified through extensive prior exploration [3] - A drill program initiated in 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [3][4] Infrastructure and Accessibility - The Santo Tomas Project is situated 170 km from the Pacific deep-water port at Topolobampo, with access via highway and rail, as well as power and natural gas infrastructure [5]

Core Points - Oroco Resource Corp. announced a non-brokered private placement of up to 18,000,000 units at a price of US$0.20 per unit, aiming for gross proceeds of up to US$3,600,000 [1][3] - Each unit consists of one common share and one half common share purchase warrant, with the whole warrant allowing the purchase of one common share at US$0.30 within 24 months [2] - Faysal Rodriguez, a new board member, will participate in the offering by purchasing 5,000,000 units for US$1,000,000 [3] - Proceeds from the offering will be used for the advancement of the Santo Tomás Project in Mexico, as well as for working capital and general corporate purposes [3] - The offering is subject to regulatory approvals, and the securities will have a hold period of four months plus one day post-issue [4] Company Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [6] - The Santo Tomás Project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [6] - A drill program initiated in 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [6][7] - The project is strategically located 170 km from the Pacific deep-water port at Topolobampo, with access via highway and rail [8]