VANCOUVER, May 29, 2019 /CNW/ - Oroco Resource Corp.
(TSX-V: OCO) ("Oroco" or "the Company") is
pleased to announce that Mr. Ian
Graham has been appointed as Vice-President of Exploration
of the Company. Mr. Graham is an accomplished mining
professional with over 20 years of experience in the development
and exploration of mineral deposits, mostly gained with major
mining companies Rio Tinto and Anglo
American, including as Chief Geologist with the Project
Generation Group at Rio Tinto. Mr. Graham has been involved
with evaluation and pre-development work on several projects in
Canada and abroad, including
Resolution Copper (Arizona, USA),
Diavik Diamond Mine (Northwest
Territories, Canada), Eagle Nickel (Michigan, USA), Lakeview Nickel (Minnesota, USA) and Bunder Diamonds
(India).
The Company has granted Mr. Graham 300,000 incentive stock
options at a price of $0.55 per
share, expiring on May 28, 2022,
which will vest in three equal tranches over the next year.
The options are subject to TSX Venture Exchange approval.
Of the appointment of Mr. Graham, Oroco's CEO Craig Dalziel said: "We are very pleased to have
been able to secure the services of Ian
Graham as the formal head of our exploration team. In
his time consulting to the Company, he has demonstrated himself to
be an exceptional contributor with expertise that are well suited
to the development of a project like Santo Tomas."
ABOUT OROCO:
The Company currently holds an irrevocable option to acquire 100
percent of Altamura Copper Corp., a private B.C. company which
holds a 50 percent interest in Compania Minera Ruero, S.A. de C.V.,
the registered owner of the Santo Tomas concessions, and an option
to acquire the other 50 percent interest. The Santo Tomas
concessions are a contiguous group of seven mineral concessions
located in Sinaloa State, Mexico. Altamura Copper Corp. also
holds a 66.7 percent interest in Xochipala Gold, S.A de C.V., the
owner of a net 85 percent unregistered contractual interest in the
Santo Tomas concessions. The Company and Altamura Copper
Corp. are pursuing the registration of the Santo Tomas concessions
to Xochipala Gold, S.A de C.V. for reason of its preferable
ownership and investment structure relating to those concessions
(see the Company's most recent MD&A available on SEDAR).
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.
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, are forward-looking statements. There can be no
assurance that such forward-looking statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated or implied in such statements.
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.
SOURCE Oroco Resource Corp.