Orocan Resource Corp.

Orocan Resource Corp.

May 30, 2011 13:13 ET

Orocan Terminates Letter of Intent to Purchase the Shares of ARNEVUT Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 30, 2011) -Orocan Resource Corp.("Orocan" or the "Company") (TSX VENTURE:OR) announces that it has terminated the letter of intent with ARNEVUT Resources Inc. ("ARNEVUT ") originally announced on March 3, 2011.

The primary asset of ARNEVUT is its option to acquire up to a 75% interest in the Island Mountain Gold Property (the "Property"), in Elko County in the Jerritt Canyon Trend of northeast Nevada. Orocan has reviewed technical information in respect of the Property and does not accept the resource estimate previously prepared on the Property. However, Orocan is still very interested in the exploration potential of the Property and wishes to pursue negotiations with ARNEVUT for an option to acquire ARNEVUT's interest in it.

At this time no agreement has been reached with ARNEVUT. You are cautioned not to assume the parties will ever reach an agreement and, if they reach an agreement, you should not rely on the resource estimate in respect of the property previously announced by Orocan.


Chris Bogart, President & CEO


The foregoing information may contain forward-looking statements relating to the future performance of Orocan Resource Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Orocan Resource Corp.'s filings with the appropriate securities commissions.

Neither the 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 release."

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