Oroco Resource Corp.
TSX VENTURE : OCO

Oroco Resource Corp.

November 10, 2008 18:49 ET

Oroco Resource Corp. Shareholders Approve Shareholder Rights Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2008) - Oroco Resource Corp. ("Oroco" or the "Company") (TSX VENTURE:OCO) reports that, further to its news release dated October 2, 2008, its Shareholder Rights Plan Agreement (the "Rights Plan") dated September 29, 2008 has been adopted and approved by the Company's shareholders at its annual shareholders' meeting held on October 30, 2008. The Rights Plan has a term of 3 years.

The Rights Plan has been adopted to ensure the fair treatment of all Oroco shareholders in connection with any possible take-over bid for the outstanding common shares of Oroco. If a take-over bid should occur, the Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess a take-over bid without facing undue pressure. The Rights Plan also provides the Board with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. The Rights Plan is not designed to prevent take-over bids that treat Oroco shareholders fairly.

Pursuant to the terms of the Rights Plan, any bid that meets certain criteria intended to protect the interests of all shareholders are deemed to be "Permitted Bids". A Permitted Bid must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and, in addition to certain other conditions, must remain open for a minimum of 75 days. In the event a take-over bid does not meet the Permitted Bid requirements of the Rights Plan, the rights issued under the Rights Plan will entitle shareholders, other than any shareholder or shareholders involved in the take-over bid, to purchase additional common shares of Oroco at a significant discount to the market price of the common shares at that time. The Board is not currently aware of any pending or proposed take-over bid for Oroco.

Ken Thorsen, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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