Orogen Royalties signs deal to sell Ecru gold project

Executive Summary

• Orogen Royalties Inc. has entered into a purchase and sale agreement to sell a 100% interest in the Ecru gold project in Nevada, USA, to Quebec Nickel Corp.
• The total consideration for the transaction is $540,000, payable in cash and shares of Quebec Nickel, with an additional 2% Net Smelter Return (NSR) royalty granted to Orogen.
• The Ecru project is located in the prolific Cortez trend in Nevada, adjacent to the Nevada Gold Mines Robertson deposit, and targets both Carlin- and Robertson-style mineralization.

Key Details

• Transaction Structure: Orogen Royalties sells 100% interest in the Ecru gold project to Quebec Nickel Corp.
• Total Consideration: $540,000 in cash and shares, plus a 2% non-buyable NSR royalty to Orogen.
• Payment Terms:
  • $250,000 cash on closing (of which $25,000 has already been received).
  • 1,000,000 consideration shares of Quebec Nickel issued on closing, valued at $0.165 per share (representing a permitted discount to the closing price on Feb. 26, 2026).
  • Within six months of closing, issuance of $125,000 worth of consideration shares at a price equal to the 10-day volume-weighted average price (VWAP) of Quebec Nickel common shares on the Canadian Securities Exchange at the date of issue.
• Regulatory Condition: Subject to regulatory acceptance of the Canadian Securities Exchange.
• Closing Timeline: Expected to be completed within 30 days.
• Project Location: Northeast margin of Nevada Gold Mine's Cortez trend land position (Cortez complex) within the Battle Mountain-Eureka trend.
• Project Assets: 112 lode mining claims (100% owned by Orogen) and two leased sections.
• Geological Context: Project lies immediately adjacent to the 2.4-million-ounce Robertson reduced intrusion-related gold deposit.
• Target Areas:
  • Shallower Intrusive Target: Two-kilometre diameter area of magnetic highs and gravity lows, interpreted as intrusive bodies and alteration in upper-plate siliciclastic rocks. Multiphase intrusives exhibit geochemical signatures analogous to the Robertson deposit.
  • Carlin-Type System: Untested, prominent gravity high target interpreted as structurally uplifted lower plate carbonates near-surface under pediment cover. Historical drilling identified anomalous gold and pathfinder geochemistry in upper plate stratigraphy.
• Qualified Person: Laurence Pryer, PhD, PGeo, VP of Exploration for Orogen.

Notable Quotes

• "The Ecru gold project, staked by Orogen's generative team, is favourably located in the prolific Cortez trend in Nevada, immediately north and adjacent to Nevada Gold Mines Robertson deposit. We look forward to following the progress of the Quebec Nickel team at Ecru." — Paddy Nicol, CEO of Orogen