Mr. Craig Dalziel reports

OROCO INCREASES ACTIVITY AT SANTO TOMAS

Oroco Resource Corp. has provided an update on the phase 2 drill program currently under way at its Santo Tomas copper project in northwestern Mexico.

Highlights:

• A second diamond drill rig has been mobilized and is now active in the South zone.
• Six holes have been completed to date, with two more currently in progress.
• Core from two holes has been submitted for assay.
• Drilling continues to target areas identified in the phase 2 plan in support of an updated mineral resource estimate (MRE) and prefeasibility study (PFS).

Second rig mobilization

Oroco's executive chairman, Craig Dalziel, commented: "Adding a second rig is an important operational milestone and keeps us on pace toward an updated MRE and a prefeasibility study. Every metre we drill increases the value of one of the largest undeveloped copper porphyry projects in the Americas."

Further to the company's news release dated Feb. 24, 2026, a second diamond drill rig has now been mobilized to the Santo Tomas South zone and is operating along with the first rig. The addition of the second rig allows the company to maintain drilling cadence in support of its targeted timeline to an updated MRE and PFS.

Core from drill holes STPH2-22 and STPH2-23 has been logged, sampled and submitted for assay. Assay results will be reported once received, validated and compiled in accordance with the company's disclosure standards.

Purpose of the phase 2 program

The phase 2 drill program is designed to support the upgrading of the classification of the mineral resource in the South zone through a combination of infill and confirmation drilling. This work is being advanced in parallel with complementary PFS-level workstreams, including hydrogeological, geotechnical and metallurgical programs.

These programs are designed to produce the inputs required for an updated mineral resource estimate and, ultimately, a prefeasibility study on the Santo Tomas project, building on the revised MRE and updated preliminary economic assessment filed in August, 2024.

About the Santo Tomas project

Oroco holds a net 87.0-per-cent interest in the 1,173-hectare core concessions and an 80-per-cent interest in surrounding concessions at Santo Tomas, a copper porphyry project in Sinaloa state, Mexico. The project was tested by historical drilling from 1968 to 1994 and Oroco's Phase 1 program, which totalled 48,481 metres in 76 diamond drill holes and supported the revised mineral resource estimate and updated preliminary economic assessment filed in August, 2024.

The August, 2024, MRE, prepared by SRK Consulting (U.S.), Inc., outlined an indicated resource of 540.6 million tonnes at 0.37 per cent copper equivalent (0.33 per cent Cu) and an inferred resource of 530.3 million tonnes at 0.35 per cent CuEq (0.31 per cent Cu) across the North and South zones. The updated preliminary economic assessment, prepared by Ausenco Engineering USA South Inc., contemplates a staged open-pit operation ramping from 60,000 tonnes per day in Year 1 to 120,000 tonnes per day by Year 8 over a 22.6-year life of mine, generating an after-tax net present value (discounted at 8 per cent) of $1.48-billion (U.S.) and an after-tax internal rate of return of 22.2 per cent. Both studies are available on Oroco Resource's website and on SEDAR+.

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