Orogen Royalties signs deal to sell Ecru gold project

Mr. David Patterson reports OROGEN ROYALTIES CREATES A ROYALTY ON THE ECRU GOLD PROJECT IN NEVADA, USA Orogen Royalties Inc. has signed a purchase and sale agreement with Quebec Nickel Corp. (Canadian Securities Exchange: QNI) whereby Quebec Nickel can acquire a 100-per-cent interest in the Ecru gold project, Nevada, United States. Under the terms of the agreement, Quebec Nickel can acquire a 100-per-cent interest in the Ecru claims from Orogen for an aggregate consideration of $540,000 in cash and shares of Quebec Nickel, subject to regulatory acceptance of the Canadian Securities Exchange, and payable as follows: $250,000 cash on closing of the acquisition, $25,000 of which has already been received; One million consideration shares of Quebec Nickel issued on closing, at a price of 16.5 cents per share, representing the permitted discount to the closing price of Quebec Nickel's common shares on Feb. 26, 2026; Within six months of closing, the issuance to Orogen of $125,000 of consideration shares at a price per share equal to the 10-day volume-weighted average price of the common shares of Quebec Nickel on the Canadian Securities Exchange at the date of the issue. Quebec Nickel will also grant a non-buyable 2-per-cent net smelter return (NSR) royalty to Orogen. Closing of the acquisition is expected to be completed within the next 30 days. Paddy Nicol, chief executive officer of Orogen, commented: "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." About the Ecru gold project The Ecru project is located on the northeast margin of Nevada Gold Mine's Cortez trend land position (the Cortez complex) within the larger Battle Mountain-Eureka trend. The property consists of 112 lode mining claims 100 per cent owned by Orogen and two leased sections. The project lies immediately adjacent to Nevada Gold Mines' 2.4-million-ounce Robertson reduced intrusion-related gold deposit. Two main target areas are located on the property and demonstrate the potential for both Carlin- and Robertson-style mineralization. The shallower intrusive target is defined by a two-kilometre diameter area of multiple magnetic highs and adjacent gravity lows, interpreted to reflect intrusive bodies and associated alteration within upper-plate siliciclastic rocks. Multiple intrusive phases are present on the property, both at surface and in historical drill intercepts. These multiphase intrusives and the surrounding rock exhibit characteristics and geochemical signatures analogous to the Robertson deposit. A potential Carlin-type system is defined by an untested, prominent gravity high target interpreted to be a region of structurally uplifted lower plate carbonates near-surface, under pediment cover. Nearby historical drilling has identified anomalous gold and pathfinder geochemistry in upper plate stratigraphy which supports the potential for a mineralized, lower plate carbonate window at Ecru. Quebec Nickel plans to evaluate the potential for both deposit types on the property. Qualified person statement All new technical data, as disclosed in this press release, have been reviewed and approved by Laurence Pryer, PhD, PGeo, vice-president of exploration for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101. Certain technical disclosure in this release is a summary of previously released information, and the company is relying on the interpretation provided by the relevant company. About Orogen Royalties Inc. Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The company's royalty portfolio includes the Ermitano gold and silver mine in Sonora, Mexico (2.0-per-cent net smelter return royalty), operated by First Majestic Silver Corp. The company is well financed with several projects actively being developed by joint venture partners. We seek Safe Harbor.