VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/09/11 -- Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to announce that a cumulative total of 2,943,600 share purchase warrants, with an exercise price of $0.30, issued in connection with a November 2009 financing, have been exercised. Proceeds to the Company were $883,080.
Additionally, the Company has granted to two individuals, an officer of the Company and a consultant to the Company, a total of 420,000 stock options at an exercise price of $0.35 per share. The option grants are subject to TSX Venture Exchange approval.
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 Oxide Gold Project in Sonora State, Mexico. In late 2010, Oroco received a positive Preliminary Economic Assessment for the Project. The Cerro Prieto Project consists of the San Felix, San Francisco, Elba and Cerro Prieto concessions, totaling 2,729 ha, and the contiguous 4,224 ha Argonauta 6 concession.
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.
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO