Oroco Resource Corp.
TSX VENTURE : OCO

Oroco Resource Corp.

March 01, 2011 19:13 ET

Oroco Resource Corp. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Oroco Resource Corp. (TSX VENTURE:OCO) ("Oroco" or "the Company") is pleased to announce that, further to a price reservation previously filed with the TSX Venture Exchange, it has received subscription agreements for a non-brokered private placement (the "Private Placement") of 3,541,334 units at a price of $0.30 per unit to raise gross proceeds of $1,062,400. Each unit consists of one common share and one-half of a transferable common share purchase warrant. Each whole warrant will be exercisable into one additional common share at an exercise price of $0.45 per share for a period of eighteen months from the date of closing of the Private Placement.

The Company is also pleased to announce that the TSX Venture Exchange has approved amendments to the Company's 2007 Rolling Stock Option Plan (the "Plan") which allows for exercised options to be made available for subsequent grant. The revised Plan is consistent with prior disclosure by the Company which has indicated that the Plan is a "rolling" plan.

On Behalf of the Board of Directors of Oroco Resource Corp.

Mr. Craig Dalziel, President and CEO

Oroco Resource Corp.

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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