Oroco Signs Definitive Cerro Prieto Surface Rights Agreement
Published : June 27, 2011
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Keywords :   G Mexico | Gold | Market | Mexico | Us Gold |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2011) - Oroco Resource Corp. (News - Market indicators) ("Oroco" or "the Company") is pleased to announce that it has executed a definitive agreement securing the surface rights in relation to its Cerro Prieto Oxide Gold Project in Sonora State, Mexico. This agreement, between Minas de Oroco Resources, S.A. de C.V. ("MOR"), the Company's wholly-owned Mexican subsidiary, and the owner of the surface rights, provides for the lease of 1,000 hectares for an initial term of seven years, with MOR having a right of renewal for two consecutive five year terms. The Cerro Prieto Project is situated within a privately owned ranch, approximately 28 km southeast of the town of Magdalena de Kino, Sonora State, Mexico. 

Upon execution of the surface rights agreement Oroco completed an initial payment to the landowner. Funds for the payment were provided by way of a bridge loan from the New York based institutional investor with whom the Company has recently entered into an indicative term sheet in regard to an $18-million (U.S.) gold prepayment agreement (see Oroco News Release dated June 17, 2011). Repayment of the bridge loan will be made from proceeds from the gold prepayment agreement at the time its closing, currently anticipated to occur in late August, 2011.

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 Oxide Gold Project in Sonora State, Mexico. 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. A Preliminary Economic Assessment relating to the Cerro Prieto Project, filed by the Company on January 29, 2011, cited a Capital Cost (including working capital) of US $22.2 million, an IRR of over 90%, and a Payback Period of less than one year at $1,000 per ounce gold.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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
604-688-6200
604-688-6260 (FAX)
www.orocoresourcecorp.com
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Oroco Resources

EXPLORATION STAGE
CODE : OCO.V
ISIN : CA6870331007
CUSIP : 687033 10 0
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Oroco is an exploration zinc and lead company based in Canada.

Its main exploration properties are XOCHIPALA and CERRO PRIETO in Mexico.

Oroco is listed in Canada. Its market capitalisation is CA$ 35.5 millions as of today (US$ 26.8 millions, € 24.3 millions).

Its stock quote reached its highest recent level on March 20, 2008 at CA$ 0.75, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Oroco has 77 947 405 shares outstanding.

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Annual reports of Oroco Resources
2007 Annual Report
Financings of Oroco Resources
2/5/2013CLOSES $1 MILLION NON-BROKERED PRIVATE PLACEMENT
9/11/2012Applies to Extend Term of Warrants
6/9/2011Announces Exercise of Warrants
5/25/2009RESOURCE CORP. ANNOUNCES PRIVATE PLACEMENT
Nominations of Oroco Resources
4/27/2010Appointment of Chief Consulting Engineer
Project news of Oroco Resources
1/27/2014(Cerro Prieto)REPORTS INITIAL PRODUCTION AT CERRO PRIETO
10/22/2012(Xochipala)Resource Corp.: Xochipala Amparo Filed
9/21/2012(Xochipala)Announces Commencement of Exploration at its Xochipala Proje...
5/14/2012(Cerro Prieto)REPORTS ON SOUTH EXTENSION DRILLING AT CERRO PRIETO
4/20/2012(Cerro Prieto)ANNOUNCES CERRO PRIETO DRILL RESULTS
1/17/2012(Cerro Prieto)ADDS TO CERRO PRIETO PROJECT
12/8/2011ANNOUNCES START OF DRILLING PROGRAMOROCO ANNOUNCES START OF ...
5/18/2011(Cerro Prieto)Secures Surface Rights for Cerro Prieto Project
1/12/2010(Cerro Prieto)Multiple High Grade Gold Drill Intercepts at Cerro Prieto.
9/30/2009(Cerro Prieto)New and Updated Drill Intercepts
9/17/2009(Cerro Prieto)Second Phase Drilling Verifies 2.0 Kilometer Mineralized Str...
8/11/2009(Cerro Prieto)High Grade Gold Sampled on Additional 900 Meter Strike Lengt...
7/21/2009(Cerro Prieto)Commences Phase Two Drilling at Cerro Prieto
5/14/2009(Cerro Prieto)Signs Property Option Agreement With Yamana Gold
1/27/2009(Cerro Prieto)REPORTS A 25.3 MILLION TONNE INDICATED RESOURCE AND 4.69 MI...
11/28/2008(Cerro Prieto)SURFACE SAMPLING EXTENDS MINERALIZED ZONE AT CERRO PRIETO AL...
9/18/2008(Cerro Prieto)COPPER AND MOLYBDENUM IN ADDITION TO AU-AG-PB-ZN MINERALIZAT...
7/31/2008(Cerro Prieto)Continues its Drilling Success
6/16/2008(Cerro Prieto)Intersects 0.214 g/t Au, 361.8 g/t Ag, 2.40% Pb And 4.76% Zn...
5/21/2008(Cerro Prieto)Initial Drill Holes Intersect Mineralized Structure at Cerro...
4/30/2008(Cerro Prieto)ANNOUNCES FIRST SAMPLING RESULTS FROM CERRO PRIETO NORTH PRO...
Corporate news of Oroco Resources
12/17/2015December 15, 2015 OROCO SETTLES SONORAN LAWSUIT
12/17/2015Oroco Settles Sonoran Lawsuit
11/19/2015Oroco Agrees to Extension of Closing Date
9/29/2015September 28, 2015 OROCO NEGOTIATES PAYMENT OF GOLDGROUP MIN...
9/29/2015Oroco Negotiates Payment of Goldgroup Mining Inc. Notes
9/18/2015September 16, 2015 GOLDGROUP FAILS TO MAKE PAYMENT TO OROCO
9/17/2015Goldgroup Fails to Make Payment to Oroco
9/16/2015August 28, 2015 OROCO RECEIVES 16.5 MILLION SHARES OF GOLDGR...
8/29/2015Oroco Receives 16.5 Million Shares of Goldgroup Mining Inc.
10/2/2014Debt Assignment Agreement Closes
9/23/2014Oroco Enters Into Agreements With Goldgroup
3/31/2014Sonoran Resources LLC. Commences Legal Action
2/7/2014(Xochipala)WINS XOCHIPALA APPEAL
9/3/2013(Cerro Prieto)Announces Completion of the Sale of Cerro Prieto
8/16/2013(Cerro Prieto)and Goldgroup Extend the Closing Date for the Cerro Prieto T...
7/16/2013(Cerro Prieto)and Goldgroup Agree to an Extension of the Closing Date for ...
6/29/2013Receives Demand for Payment
6/25/2013(Cerro Prieto)Obtains Approval for Sale of Cerro Prieto to Goldgroup
6/4/2013Resource Corp.: Amparo Decision Handed Down
4/29/2013Announces Special General Meeting Date
4/10/2013(Cerro Prieto)and Goldgroup Sign Formal Sale Agreement for Cerro Prieto
1/28/2013(Cerro Prieto)SIGNS AGREEMENT TO SELL CERRO PRIETO FOR US $18 MILLION
1/28/2013(Cerro Prieto)Signs Agreement to Sell Cerro Prieto
11/9/2012(Xochipala)Increases Strike Length at Xochipala
6/27/2011(Cerro Prieto)Signs Definitive Cerro Prieto Surface Rights Agreement
6/17/2011(Cerro Prieto)Signs Indicative Term Sheet for Cerro Prieto Construction Fi...
3/15/2011Resource Corp. Announces Closing of Private Placement
3/7/2011Extends Mineralized Zone at Cerro Proeto
10/6/2009Initiation Of Phase Two Metallurgical Tests
6/25/2009Resource Compressed Timeline to Production
6/4/2009Invite for dissemination
5/13/2009General research GMBH to provide european investor...
3/8/2009ANDERSON FINANCIAL MARKETING to provide investor relations ...
11/4/2008Announces Senior Management Assignments
10/2/2008RESOURCE CORP. ADOPTS SHAREHOLDER RIGHTS PLAN
9/9/2008Announces 425 Meter Stepout to Mineralized Zone
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