Developing the Santo Tomas - Oroco Resource Corp

INVESTOR PRESENTATION OCTOBER 2021

Developing the

Santo TomasPORPHYRY COPPER PROJECT

TSX-V: OCO Frankfurt: OR6 U.S.: ORRCF

Forward Looking Statement

This presentation contains certain forward-looking statements that reflect the current views and/or expectations of Oroco Resource Corp.(“Oroco”) with respect to its business and future events including statements regarding Oroco’s business and exploration plans. Forwardlooking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the mineralproperties, business and the markets in which Oroco operates. Investors are cautioned that all forward-looking statements involve risksand uncertainties, including: the inherent risks involved in the exploration and development of mineral properties; the uncertaintiesinvolved in interpreting drill results and exploration data; the uncertainties respecting historical resource estimates; the potential for delaysin exploration or developmentactivities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results willnot be consistent with Oroco’s expectations; accidents, equipment breakdowns, title and permitting matters, labour disputes or otherunanticipated difficulties with, or interruptions in, operations; fluctuating metal prices; unanticipated costs and expenses; uncertaintiesrelating to the availability and costs of financing needed in the future; commodity price fluctuations; regulatory restrictions, includingenvironmental regulatory restrictions; Oroco’s ability to identify, complete and/or finance additional acquisitions; or any failure to integrateacquired companies and projects into Oroco’s existing business as planned. These risks, as well as others, including those set forth inOroco’s filings with Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers shouldnot place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, orthe material factors or assumptions used to develop such forward-looking information, will prove to be accurate. Oroco does not undertakeany obligations to release publicly any updates or revisions to any voluntary forward-looking statements, except as required by applicablesecurities laws.

TSX-V: OCO Frankfurt: OR6 U.S.: ORRCF 02

Technical Information

In this presentation, results from historical studies by Bateman Engineering (1994, 2003) and John Thornton (2011) are cited. The mostrecent Technical Report is titled "Geology, Mineralization, and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, with aneffective date of August 22, 2019, by D. Bridge, P. Geol.” (“Bridge, 2019”). In that report, Bridge states that the mineral resource estimateby Thornton (2011) is a Historical Estimate as defined under NI 43-101 of the Canadian Securities Administration (“NI 43-101”). Neither theQualified Person, nor Bridge have done sufficient work to classify the Thornton 2011 Historical Estimate as current mineral resources ormineral reserves, and Oroco is not treating the Historical Estimate as current. The reader is cautioned not to rely upon any of the historicalestimates, cut-off grade analyses, or the historical scoping of mining plans derived from them. The historical estimates and scoping arepresented herein as geological information only, as a guide to follow-up technical work, and for targeting of confirmation and explorationdrilling.

Qualified Person

Paul McGuigan, P. Geo., a Qualified Person under NI 43-101, is a senior consulting geoscientist to the Company and has approved the technical disclosures in this presentation.


Oroco Resource Corp. (TSX-V:OCO), founded in 2006, is a Canadian mineral

exploration company with a history of and expertise in the development of resource

opportunities in Mexico.

Oroco is led by a management team with significant experience in exploration,

discovery, development and operations in the mineral sector.

• Craig Dalziel - CEO and Director

• Ian Graham - President and Director

• Stephen Leahy - Director

• Robert Friesen - Director

• Steve Vanry - CFO

• Ian W. Rice - Director

• Adam Smith - Business Development/Corporate

Finance

• Paul McGuigan and Dane Bridge - Qualified Persons

Capital Structure (October 21st, 2021)

Shares Issued:

Share Purchase Warrants:

Incentive Stock Options O/S:

Fully Diluted:

Insider and Associated Investors Ownership:

Cash Position/Debt:

192,573,843

12,233,462

8,715,000

213,522,305

~25%

~$18M/$0

About Oroco


• Rare opportunity to invest in a very large, outcropping porphyry copper deposit

• 73.2% ownership interest in the core concessions can be increased up to an 85.5% interest with

exploration expenditures, and a 77.5% interest in surrounding concessions

• Extensive historical work has defined a very large copper resource with current deep, three-

dimensional, Induced Polarization (“3DIP") geophysical survey strongly corroborating. Historical work

included metallurgical testing, resource calculation and the completion a historical Prefeasibility Study

• Top tier mining jurisdiction, with outstanding local infrastructure available to support large scale

mining activities and a strong local mining culture and highly supportive community

• Extensive exploration upside as demonstrated with successful 3D IP survey

• Strong liquidity path – High demand for copper assets, established valuation metrics

Oroco Investment Highlights

05

Santo Tomas Mineral Concessions

The Santo Tomas Core Concessions comprise 1,172.9 ha. Thesurrounding Peripheral Concessions total 7,807.9 ha. Together,the Company controls 8,980.8 ha (22,192 acres or 34.7 sq. miles)of contiguous concessions.

The Santo Tomas Properties lie within the Laramide porphyrycopper province, which is the second largest such province in theworld. “The Laramide porphyry copper deposits ofsouthwestern U.S. and northern Mexico are one of the greatconcentrations of porphyry deposits, rivaling the Tertiary agedeposits in the southern Andes or the Philippine Islands.”(USGS Porphyry Copper Assessment of Mexico, ScientificInvestigations Report 2010–5090–A)


Santo Tomas Location

• Located on the fringe of the Sierra Madre mountain range, on the "La Entradaal Pacífico” corridor, a federal Mexican-USA multimodal trade &transportation link between the Port of Topolobampo and Texas.

• Strong local mining culture and highly supportive community.

• Highway, mainline rail lines, the NW Mexican power transmission grid, and the670 MMcf/d El Encino-Topolobampo high pressure gas pipeline (WesternTexas to Topolobampo port) all proximal to Santo Tomas.

• Proximal to regional population and commercial centers.

• Deep-water Port of Topolobampo and the international airport of Los Mochisare located 160 km to the southwest.

• Significant potential Capital Expenditure (CAPEX) and OperatingExpenses (OPEX) advantages accrue from Santo Tomas’ favourablelocation.


Serviced by the

Chihuahua Pacific

railway and a 50-wagon

rail loop.

Huites Dam (Luis Donaldo

Colosio Dam) is a flood

control, irrigation, and

hydropower facility

proximal to Santo Tomas.

TC Energy’s new

natural gas pipeline

(670 million cubic

feet/day). High pressure

gas can be potentially

tapped directly to fuel

power generation at

Santo Tomas.

Port of Topolobampo,

has sidelong berths

with 12 m depth.

Infrastructure

08

Mining in Mexico


Mining contributes 8.3% of Mexico's industrial GDP *

The sector supported 380,000 direct jobs and nearly 2 million

indirect jobs in 2018 *

In 2018, Mexico’s mining production amounted to US$12.57 billion*

Mexico is the world’s fourth-largest recipient of foreign direct investment (FDI)

for mining, with Canada as the leading foreign investor **

In comparison to 2010, the Mexican annual copper production has almost tripled, making it the ninth-

largest producer in the world in 2020 *** and Mexico hosts the 5th largest in situ resources of copper

and the world’s 5th largest copper producer (Buenavista, 432K Tonnes in 2020, avg. Grade 0.32%)

* https://www.statista.com/statistics/738507/mexico-copper-production/

** International Trade Administration website https://www.trade.gov/knowledge-product/mexico-m-mining-and-minerals

**** https://worldpopulationreview.com/country-rankings/copper-production-by-country

Santo Tomas Project

Mexico: A Mining Giant

World’s #1 Silver producer #5 Lead, #5 Molybdenum, #6 Zinc, #8 Gold, #9 Copper


The Santo Tomas project development plan considers exploration through to development, while striving for sustainable economic

advancement. We are committed to promoting the best interests of the local community by:

Investing in

community initiatives

and infrastructure

Maintaining responsible

stewardship of the land

where we operate

Respecting the local

values and culture

Hiring local workers

Corporate Citizenship Strategy


Santo Tomas Exploration History

After approximately 30,000 meters of diamond and RCdrilling in >100 holes, completed between the 1970s and1994, Santo Tomas was positively scoped at a(Historical*) Pre-Feasibility level for an operationproducing approximately 125k tonnes of copper in a28% Cu concentrate per annum*. No design risks wereidentified and it was further concluded that the resource atSanto Tomas is “likely to increase in grade and tonnagewith additional exploration.”

That study* was conducted by Bateman Engineering(subsequently bought by Tenova) in 1994, following whichthe decline in copper prices to 2001, and following that alegal title dispute, prevented further advances at SantoTomas. Oroco and associated entities successfullyresolved that dispute after a >10-year process concluding inJanuary of 2020.

Oroco now controls Santo Tomas, with a 73.2% interest inthe core concessions, that can rise to 85.5% with project-related expenditures, and a 77.5% interest in surroundingconcessions.


*Under NI 43-101 of the Canadian Securities Administration (“NI 43-101”) the 1994 BatemenPFS is considered “Historical.” Oroco is not treating the Historical report as current. Thereader is cautioned not to rely upon any of the historical report, cut-off grade analyses, or thehistorical scoping of mining plans derived from them. The historical estimates and scopingare presented herein as geological information only, as a guide to follow-up technical work,and for targeting of confirmation and exploration drilling.

Historical* M, I & I resource in North and South Zone

• Repairs to main access road to the Santo Tomas North Zone and

construction of Twenty-two person exploration camp

• Fieldwork and collection of 14 sq km 3D Induced Polarization survey

data and interpretation

• Completed 14 km2 of deep, three-dimensional, Induced Polarization

("DCIP") geophysical survey by Dias Geophysical

• Commencement of exploration drilling – July 2021

UPCOMING: Q3 2021 -2022Environmental baseline study, EIA, and the study of a water strategyand permitting studiesCommunity engagement and ESG initiative expansion

COMPLETED• Field structural geological mapping

• Confirmation of tabulation of historical mineral resource estimate

• Update and validation of 2009 3D Modelling based on historical

drilling and 2019 structural data

• Validation of 3D “2009 Gradeshell Cu > 0.30%”

• Community outreach and social programs throughout the period

• Publication of Technical Report "Geology, Mineralization, and

Exploration of the Santo Tomás Cu-(Mo-Au-Ag) Porphyry Deposit”,

August 22, 2019

Technical Work 2019-2022


• Commenced in Q3 2020, with results now complete and reported for 14 km2 of deep, three-dimensional, Induced Polarization ("DCIP") geophysical survey

• Survey undertaken by DIAS Geophysical of Saskatoon, SK (“DIAS”) utilizing the DIAS32Direct Current Resistivity and Induced Polarization (“DCIP”) system using a rolling layoutof transmitter locations and a large receiver array

• The survey has demonstrated a strong correlation between chargeability features andhistorical drill results and has revealed an extensive area of strong chargeabilityresponse that encloses the known South and North Zone deposit, including theHistorical drill defined 0.30% Cu cut-off grade shell, and extends beyond the historicaldrilling to the north, to the Brasiles Zone, the west - a collective distance of at least 5km by a width of 1-3 km - and to depth to the limits of the survey’s range,representing a substantial increase in the width and depth of the mineralization in allareas

• Inferred mineralization remains open on the western fringe, the NE and SE extremity, and todepth.

• Results of the 3D IP survey will be integrated with the Company’s 3D geological andstructural model to guide upcoming drilling programs.

Current Technical Program: 3D Induced Polarization Survey


DCIP Chargeability Draped on the Orthophoto Base, Looking NNW

3D INDUCED POLARIZATION SURVEY

15

South Zone: • Chargeability-high and resistivity-low response spanning 1,000

m wide by 1,200 m long in horizontal plan view. Open at depth.

• Correlates well with the 10 widely spaced historical drill holes.Indicates continuity at depth and laterally.

North Zone and Brasiles:• Modelling indicates the North and Brasiles Zones are a

contiguous exploration target spanning an average of onekilometer in width and a minimum of ~3 km along strike at the100 m level elevation.

• 3D IP preliminary inversion modelling delineates a NNE striking,west-dipping, chargeability-high response extending from theNorth Zone to the prominent gossan of the Brasiles Zone andbeyond to the SE corner of the survey grid. These resultsdemonstrate a shallow-seated, chargeability-high responsebeneath the Brasiles limestone horizon, similar to the NorthZone.

• The final dataset indicates a substantial continuation of SantoTomas chargeability along strike and to depth, inferring that themineralized system is much more extensive than was definedhistorically. In addition to the strike continuity, chargeabilityfeatures at South Zone and Brasiles protrude east of theiranticipated distribution, and a distinct feature of intermediatechargeability is developed westward below a mapped limestonebluff at Brasiles.

Head Office1201 - 1166 Alberni Street

Vancouver, B.C. V6E 3Z3

Canada

Phone: (604) 688-6200

Fax: (604) 688-6260

www.orocoresourcecorp.com

[email protected]

TSX-V: OCO

Frankfurt: OR6

U.S.: ORRCF

Contact Information

16

Appendix

A

17

Investing in Copper

A1TSX-V: OCO Frankfurt: OR6 U.S.: ORRCF

The value of copper consumed in 2020 was well in excess of US $150 billion with demand expected to double in the coming decades

Porphyry copper deposits are the Tier One assets of the mining industry:

• Providing the majority of mined copper and significant quantities of gold

• Capable of many decades of mine life

• Carry mining companies across commodity cycles

• Life-of-mine revenues in the tens of billions of dollars with low costs of production

• Currently producing assets aging, average grade declining, and rate of discovery plummeting

Strong fundamentals underpin the copper market, with a compelling supplyand demand case

The value of copper consumed in 2020 was well in excess of US $150 billion with demand expected to double in the coming decades

Porphyry copper deposits are the Tier One assets of the mining industry:

• Providing the majority of mined copper and significant quantities of gold

• Capable of many decades of mine life

• Carry mining companies across commodity cycles

• Life-of-mine revenues in the tens of billions of dollars with low costs of production

• Currently producing assets aging, average grade declining, and rate of discovery plummeting

Strong fundamentals underpin the copper market, with a compelling supplyand demand case

Investing in Copper, a Future Facing Metal


“Sustained growth in copper demand is expected to continue because copper is essential to economic activity and even more so to the modern technological society” (International Copper Study Group)

“The Key to unlocking the energy transition is made of copper”…It’s a multi-faceted, multi-regional, structural bull story” – Saad Rahim, Trafigura, December 2020

"Of all the metals used in the generation, transmission, storage, and consumption, copper remains the common denominator…..Electricity generation, transmission infrastructure, energy storage, and consumption all require copper - Stifel Financial Corp., January 2021

“To keep pace with these mega trends, copper production will have to double over the next 30 years” - Tariq Salaria, Vice President for sales and marketing at BHP, December 2020

Investing in Copper: Multiple Positive Vectors


Copper: Challenges to new supply


…..mine pipeline at historical lows. Relative to the past, development projects generally have lower grades, are smaller scale, and are located in more challenging locations and jurisdictions.

Historically low rates of discovery, and…..

Copper: Challenges to new supply


Copper: Structural deficits in copper supply


Underpinning copper prices into the future are structural deficits in copper supply that are likely even with 100% of probable project pipeline.

• Potential acquisitors in “better financial shape”

• “… project pipelines of many of these companies is diminished”

• “… a number of companies … will have to participate in M&A in the near term”

• “… the number of opportunities is limited for them … the number of late-stage development

projects with resources of >3.0 MT that we believe are likely candidates to be acquired is

limited to just five.”

• “This lack of opportunity looks set to raise the stakes for those assets that are available.”

RFC Ambrian Research: Copper & M&A

TSX-V: OCO Frankfurt: OR6 U.S.: ORRCF A6

RFC Ambrian Research, Copper M&A, The Cupboard is Nearly Bare, November 2018

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INVESTOR PRESENTATION October 2021

Developing the

Santo TomasPORPHYRY COPPER PROJECT

TSX-V: OCO Frankfurt: OR6 U.S.: ORRCF

Developing the Santo Tomas - Oroco Resource Corp

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