VANCOUVER, Canada, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Vancouver, CANADA. - August 14th, 2025 - Oroco Resource Corp. (TSX-V: OCO; OTCQB: ORRCF) ("Oroco" or "the Company") extends its congratulations to Hudbay Minerals Inc. ("Hudbay") for its agreement with Mitsubishi Corporation ("Mitsubishi") announced on August 13th 2025, whereby Mitsubishi will acquire a 30% interest in Hudbay's Copper World project in Arizona for consideration of US$600 million, structured as US$420 million at closing for a 30% equity interest, and $180 million as a matching contribution within 18 months of closing.
Hudbay's transaction with Mitsubishi underscores the strategic importance and market appetite for large, high-quality North American copper projects supported by robust technical studies. Mitsubishi's acquisition of an interest in the Copper World project, which benefits from a September 8, 2023 Pre-Feasibility Study ("PFS"), demonstrates the value of advancing open-pit copper deposits through this critical stage of technical and economic definition.
"We congratulate Hudbay and Mitsubishi on this significant transaction," said Craig Dalziel, Chairman of Oroco Resource Corp. "The resulting US$1.4 billion project valuation and the calibre of the partnership are validation that high-quality copper projects with strong technical underpinnings and a well-executed PFS can attract world-class purchasers and development partners. This further supports Oroco's decision to advance Santo Tomás to the Pre-Feasibility Study stage. Santo Tomás shares many important characteristics with Copper World: a large-tonnage, open-pit copper porphyry deposit close to infrastructure, with the potential to be a long-life, low-cost producer. For this reason, we invite interested readers to compare the Copper World and Santo Tomas project metrics as found on their respective corporate websites."
Oroco is advancing the Santo Tomás copper project toward completion of its own PFS, building on the drilling and metallurgical programs that have resulted in the publication of an August 20, 2024 Preliminary Economic Assessment study. The Company believes that a well-supported PFS will position Santo Tomás as a premier development opportunity in the global copper sector at a time of strong demand for critical minerals.
ABOUT OROCO
The Company holds a net 85.5% interest in those central concessions that comprise 1,173 hectares "the Core Concessions" of The Santo Tomas Project, located in northwestern Mexico. The Company also holds an 80% interest in an additional 4,948 hectares of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 6,121 hectares, or 15,125 acres). The Project is situated within the Santo Tomas District, which extends up to the Jinchuan Group's Bahuerachi Project, approximately 14 km to the northeast. The Project hosts significant copper porphyry mineralization initially defined by prior exploration spanning the period from 1968 to 1994. During that time, the Project area was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Commencing in 2021, Oroco conducted a drill program (Phase 1) at Santo Tomas, with a resulting total of 48,481 meters drilled in 76 diamond drill holes.
Subsequent to the drilling at Santo Tomas, the resource estimates and engineering studies led to a revised MRE and an updated PEA being published and filed in August of 2024, which studies are available online at the Company's website at www.orocoresourcecorp.com and by reviewing the Company profile on SEDAR+ at www.sedarplus.ca.
The Santo Tomás Project is located within 170 km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached, in part, by a 32 km access road originally built to service Goldcorp's El Sauzal Mine in Chihuahua State.
Additional information about Oroco can be found on its website and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
For more information, please contact:
Craig Dalziel, Chairman
Oroco Resource Corp.
Tel: 604-688-6200
Email: info@orocoresourcecorp.com
www.orocoresourcecorp.com
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including, without limitation, statements relating to future events or achievements of the Company, and the use of funds from the Offering, are forward-looking statements. There is no assurance that the proceeds of the Offering will be expended as contemplated. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.
