|By Marketwired .||
|February 7, 2014 08:30 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/07/14 -- Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to announce that the Federal Tribunal of Mexico has granted the Company's appeal of the decision of the lower Federal District Court and has ordered that all aspects of the 2011 Guerrero State Court auction (the "Court Auction") of a 50% interest in the Celia Gene and a 100% interest in the Celia Generosa concessions (collectively, the "Camacho Interest") be set aside. The decision of the Federal Tribunal confirms that the Company's subsidiary, Minera Xochipala, S.A. de C.V., is the sole registered owner of 100% of each of the Celia Gene and Celia Generosa concessions (the "Xochipala Property") and terminates the competing claim of Mr. Avinadain Bautista ("Bautista") arising from the Court Auction of the Camacho Interest.
The Federal Tribunal also dismissed the appeal by Bautista which sought to enforce his claim to the Camacho Interest. Upon granting the Company's amparo and setting aside the entire Court Auction process, the Federal Tribunal determined that Bautista had no legal claim or interest in the concessions and thus had no legal standing to petition the courts.
The decision of the Federal Tribunal is final, with no appeal available. For further detail on the background of this matter, see the Company's news release of June 4, 2013 and its most recent Management Discussion and Analysis, which is 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.
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO