Orogen keeps 1% NSR royalty on Camelot project sale

Executive Summary

• Orogen Royalties Inc. entered a Purchase and Sale Agreement with Prospect Ridge Resources Corp. for the Camelot copper‑gold porphyry project in British Columbia.
• Prospect Ridge will acquire 100 % of the property for a total consideration of $200,000 (cash and/or common shares) payable over six months, subject to TSX Venture Exchange approval.
• Orogen retains a 1 % Net Smelter Return (NSR) royalty and holds an option to acquire an additional 0.25 % NSR royalty for $500,000.

Key Details

• Transaction Structure:
• Total purchase price: $200,000.
• Payment schedule: $25,000 in Prospect Ridge common shares (based on a 10‑day VWAP) payable within five days of regulatory approval; remaining $175,000 in cash or additional shares (same VWAP basis) payable within six months and two days of approval.
• Royalty Retention:
• Orogen keeps a 1 % NSR royalty on all future production from Camelot.
• Option to acquire an extra 0.25 % NSR royalty for $500,000, contingent upon an underlying vendor agreement.
• Project Overview – Camelot (formerly Lemon Lake):
• Location: 2,600 ha in the Quesnel Belt, BC – a region hosting several operating copper‑gold porphyry mines.
• Geology: Late Triassic–Early Jurassic composite Lemon Lake pluton with monzonite porphyry intrusions; strong soil‑copper, magnetic, and chargeability anomalies (up to >25 mV/V).
• Historical drilling:
  • 1974 – 21.3 m @ 0.25 % Cu (no Au).
  • 2022 – up to 0.67 m @ 0.61 g/t Au and 1.45 % Cu in potassically altered monzonite dikes.
• Core of the geophysical target remains undrilled; the project is fully permitted through 2025.
• Regulatory Conditions:
• Agreement subject to approval by the TSX Venture Exchange.
• Qualified Person Statement:
• Technical data verified by Laurence Pryer, PhD, PGeo, VP Exploration (NI 43‑101 qualified person).

Notable Quotes

“The Camelot project contains a fully permitted drill target outlined by the coincidence of anomalous copper in soils, a magnetic high and a strong chargeability anomaly… Orogen maintains its upside exposure to the property through its retained royalty and we are excited to see drill results in the coming months.” – Paddy Nicol, CEO, Orogen Royalties Inc.