Orogen Royalties Creates a Royalty on the Firenze Gold Project

Executive Summary

• Orogen Royalties Inc. entered into a Purchase and Sale Agreement with Altitude Minerals Ltd.’s subsidiary to sell its 100% interest in the Firenze gold project in Nevada for a total consideration of US$430,000 (cash or shares) plus a 3% NSR royalty (with an optional 1% buy‑down for US$1.5 M).
• Proceeds from the transaction are split evenly between Orogen and its alliance partner Altius Minerals Corp., giving each party US$215,000 in cash and/or shares and a 1.5% NSR royalty on the project.
• The Firenze property is an exploration‑stage, historic gold‑silver epithermal system with surface grades up to 9.3 g/t Au and 1,250 g/t Ag; historical artisanal samples returned exceptionally high values (up to 44 g/t Au).

Key Details

• Transaction Structure:
• US$30,000 cash paid on signing a Letter of Intent (already paid).
• US$100,000 cash paid on signing the Purchase and Sale Agreement.
• Remaining US$300,000 payable in cash or shares by November 30 2025 (share issuance subject to shareholder approval).
• Royalty Component: Altitude grants a 3% net smelter return (NSR) royalty to Orogen; Orogen may purchase an additional 1% of this royalty for US$1.5 M.
• Proceeds Allocation (Alliance with Altius):
• Each partner receives US$215,000 in cash and/or shares.
• Each partner receives a 1.5% NSR royalty on Firenze.
• Project Description:
• Size: 740 ha (≈1,830 acres) located ~170 km east of Reno, Nevada.
• Geology: Up to 1.5‑m wide epithermal veins over 1.5 km²; surface assays up to 9.3 g/t Au and 1,250 g/t Ag.
• Historical artisanal dump samples: 44 g/t Au/534 g/t Ag; 22.5 g/t Au/1,825 g/t Ag; 17.7 g/t Au/97.8 g/t Ag.
• Veins hosted in Oligocene tuff of Elevenmile Canyon; potential for disseminated gold at depth beneath alluvium.
• Qualified Person: Technical data reviewed and approved by Laurence Pryer, Ph.D., P.Geo., VP Exploration, Orogen (NI 43‑101 qualified).

Notable Quotes

“Firenze is an exploration-stage gold project that was made available under the National Defense Authorization Act in 2022… We are excited to partner with Altitude and look forward to the results of their upcoming exploration program.” – Paddy Nicol, President & CEO, Orogen Royalties Inc.