Orocan Resource Corp.
TSX VENTURE : OR.P

Orocan Resource Corp.

June 15, 2010 14:29 ET

Orocan Announces Approval of Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2010) - Orocan Resource Corp. (TSX VENTURE:OR.P) (the "Company") is pleased to announce that it has now closed its qualifying transaction.

The Company has an option to acquire a 70% undivided interest in the TJ Ridge property, located in the Skeena Mining Division of British Columbia, Canada from Roxgold Inc. (TSX VENTURE:ROG), an arm's-length company. The Company has paid $25,000 and issued 100,000 common shares to Roxgold Inc.

The Company has also closed the non-brokered private placement of 4,000,000 units at a price of $0.25 per unit, for aggregate gross proceeds of CDN$1,000,000.

The Company will commence trading as a Tier 2 resource issuer, following the issuance of the final bulletin by the TSX Venture Exchange signifying final approval.

ON BEHALF OF THE BOARD

Chris Bogart, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Orocan Resource Corp. which may cause actual results, performance or achievements to be materially different from the results, performance or expectation implied by these forward looking statements. Such uncertainties include the completion of the acquisition of the Property and the ability of Orocan to finance its participation and earn a resulting interest in the Property.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information