OROCO COMPLETES PHASE ONE DRILL PROGRAM AT SANTO TOMAS - Seite 2

• Drill hole N044 (Plate NZ-47) returned 352.5 m of 0.462% CuEQ
• Drill hole N045 (Plate NZ-47) returned 329.8 m of 0.494 % CuEQ

DRILL HOLE N046 – TESTS  250 M FURTHER SOUTH IN THE NORTH ZONE

Drill hole N046 was pivoted southward from the collar of N044 (Plate NZ-47) and ended 350 m south in significant mineralization.  On average, N046 indicates that the mineralization of N044/N045 extends 250 m further southward at the 400 m elevation (about 300 m below the Santo Tomas ridge).  This area has few historical drill holes, and the Cu >0.30% Grade shell model cited in the Company’s 2019 Technical Report appears to be over two times wider in this area.  These results demonstrate the southward and down dip continuity of the North Zone. 

DRILL HOLE N047 – CONFIRMS THE HANGING WALL EXTENSION OF THE NORTH ZONE

Significantly, N047 intersected mineralization only 100 m below the surface on the western flank of the Santo Tomas ridge.  N047 lies above a broad zone of mineralization in Hole N038 and 100 m north of the better than average grades of Holes N044 & N045.

Modelling and structural analysis of the historical results and the current drilling have successfully delineated good-grade North Zone mineralization in a gently north-plunging panel beneath the Santo Tomas ridge, extending 1,600 meters along the strike and 400 to 800 m downdip below the surface.

Results from N044 and N045, and now, from N046 and N047, indicate the exciting potential of the southern segment of the North Zone at, and south of, Hole N038 (Plate NZ-49).  Whereas the North Zone averages about 300 m wide at grades above about 0.30 Cu, beginning at Plate NZ-49, the average width on the level view is 400 m, double the modelled width of the sparse historical drilling.  These results, taken together, indicate the southern segment is the highest grade and widest portion of the North Zone deposit.  Additional drilling will be required to fully define this area of the North Zone.

TECHNICAL INFORMATION AND QUALITY CONTROL / QUALITY ASSURANCE

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, silver 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).