The Conversation (0)
Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) ("Oroco" or "the Company") announces that pursuant to the Company's Stock Option Plan and subject to approval by the TSX Venture Exchange, it has granted a total of 7,050,000 incentive stock options to 25 directors, officers, employees and consultants of the Company at an exercise price of $0.85 per share, with a term of 3 years. Of that total option grant, 3,425,000 incentive options have been granted to officers, directors, and senior management of the Company. All options will vest in 4 installments, with one-quarter vesting on the grant and thereafter upon each of the 4, 8, and 12-month anniversaries of the grant. The Company now has 14,185,000 incentive options outstanding, equating to 4.4 percent of the currently issued and outstanding shares of Oroco.Commented Oroco Chairman, Craig Dalziel, "The closing of our recent financing led by Canaccord Genuity presents the opportunity to initiate our Phase 2 drill program at Santo Tomas and to continue our work toward a completed Pre-Feasibility Study for the project. It is, therefore, the appropriate time to provide the necessary financial incentives to every level of Oroco's organization. We are sincerely grateful to the many members of our management and staff who, being so important to our future success, have maintained their commitment to our company and its assets over the recent period of site inactivity. We look forward to continuing the development of Santo Tomas on its path to prominence as a major copper resource." 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 Concession, 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.For further information, please contact:Mr. Craig Dalziel, Executive ChairmanOroco Resource Corp.Tel: 604-688-6200www.orocoresourcecorp.comNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Christy Fabros Oroco Resource Corp. (604) 688-6200 info@orocoresourcecorp.com
