Orovero Resources Corp. Announces Completion of Financing

Apr 5th, 2013 - Orovero Resources Corp. (formerly Golden Alliance Resources Corp.) (TSX-V: OVR, Frankfurt: GA0, "Orovero" or the "Company") has received regulatory approval from the TSX Venture Exchange ("Exchange") for the Company's non-brokered private placement originally announced on December 10, 2012, December 14, 2012, and February 7, 2013. Orovero has issued 18,550,000 units at a price of $0.075 per unit for gross proceeds of $1,395,000.

"We are pleased to announce the closing of the financing and to welcome Dicon Gold as the new control person. The combination of Dicon's ability to deal with complex social issues, the history of exploration success at The Grosso Group and our significant property portfolio, establishes a solid basis for growth," stated Mr. Len Clough, President & CEO.

Each unit consists of one common share and one-half common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of $0.15 per share for 24 months from the date of issue of the warrant.

Finder's fees of $6,900 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 92,000 finder's warrants are issuable with each finder's warrant entitling a finder to purchase one common share at a price of $0.15 per share for a period of 24 months, expiring on April 2, 2015.

The securities issued under this private placement are subject to a four month hold period expiring August 4, 2013. The proceeds from the private placement will be used to advance exploration projects in Peru, to settle outstanding debt, and for general working capital.

Orovero also wishes to announce that upon closing of the private placement, as described above, Dicon Gold Inc. ("Dicon") became a Control Person of the Company. Dicon acquired 12,000,000 common shares in the capital of the Company through the private placement pursuant to a subscription of $900,000. The common shares acquired by Dicon pursuant to this transaction represent approximately 44.9% of the total issued and outstanding common shares of the Company on an undiluted basis as of the date of this news release.


About Orovero Resources Corp.

Orovero is a company focused on gold, copper and silver exploration in Peru. The Company has a very strong portfolio of 100%-owned highly prospective projects, totaling 25,000 hectares, and offering multiple opportunities for a significant discovery. Orovero is a member of the Grosso Group, a management company active in the resource exploration industry since 1993, and working in Peru since 1995.


ON BEHALF OF THE BOARD

"Len Clough"
Mr. Len Clough, Chairman, President, CEO and Director



For further information please contact:

Orovero Resources Corp.
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenalliancecorp.com



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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