Oroco Resource Corp.

Oroco Resource Corp.

January 26, 2012 09:00 ET

Oroco Announces Receipt of Permits and Acquisition of Right of Way

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2012) - Oroco Resource Corp. (TSX VENTURE:OCO)(FRANKFURT:OR6) ("Oroco" or "the Company") reports that it has reached important milestones in advancing its Cerro Prieto gold and silver project toward production.

Those important achievements are:

  • Receipt of the Environmental Impact Statement / Manifestacion de Impacto Ambiental (MIA) from the Environmental Protection Authorities (SEMARNAT); and
  • Authorization for the Change of Land Use from forestry to mining usage; and
  • Acquisition of a Right of Way across the ranch to the west allowing road and utilities access from the closest public road to the Cerro Prieto site

The authorization for the Change of Land Use can be activated by paying the prescribed environmental compensation fee by February 20, 2012.

The receipt of the MIA and authorization for the Change of Land Use provides the Company with the principal permits necessary to build the plant and operate an open pit, heap leach gold and silver project at Cerro Prieto for a period of 10 years, with a right to renew upon application.

The Company also reports the acquisition of a registered road and utilities right of way over the neighboring ranch to the west of the Cerro Prieto Project. This right of way will allow the direct road and utilities access to the Cerro Prieto Project from the closest public road, a distance of approximately six kilometers.

About Oroco

Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Project. The Cerro Prieto Project consists of a group of 100% owned concessions comprising over 7,000 ha in northern Sonora State, Mexico.

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 release.

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