VANCOUVER, BC / ACCESS Newswire / March 2, 2026 / (TSX.V:OGN)(OTCQB:OGNNF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that the Company and a wholly owned subsidiary of alliance partner Altius Minerals Ltd. ("Altius") (collectively the "Alliance Partners") have signed a binding Letter of Intent Agreement (the "LOI") with Toogood Gold (TGC) ("Toogood") to option the Table Mountain gold project ("Table Mountain") in Nevada.
Under the terms of the LOI, Toogood will have an exclusive 45-day period to conduct due diligence and execute a definitive option agreement (the "Option Agreement") whereby Toogood can acquire a 100% interest in Table Mountain by issuing 16,683,430 Toogood shares to the Alliance Partners as follows:
1,000,000 shares within three days of signing the definitive agreement (the "Effective Date");
3,500,000 shares within six months of the Effective Date;
5,500,000 shares within one year of the Effective Date; and
6,683,430 shares within two years of the Effective Date.
Based on the market price of Toogood's shares as of February 27, 2026, the aggregate market value of the share consideration is $2.25 million.
Upon completion of the Option Agreement, Toogood will grant a 3% net smelter return ("NSR") royalty to the Alliance Partners subject to the following buydown provisions:
0.5% NSR royalty buydown for US$5.0 million up to the fourth anniversary of the exercise of the Option Agreement; and
0.5% NSR royalty buydown for US$15 million for up to 120 days after the completion of a National Instrument 43-101 Prefeasibility Study.
Pursuant to the terms of a generative alliance between Altius and Orogen (previously announced September 12, 2022), proceeds from the Option Agreement and royalty grant will be split evenly between the Alliance Partners whereby each party will receive 8,341,715 shares and a 1.5% NSR royalty upon completion on the Option Agreement.
Paddy Nicol, CEO of Orogen commented, "The multiple outcropping gold bearing veins at Table Mountain represent one of the most compelling and simple targets the Orogen generative team have identified in the last few years. It's been very exciting to discover gold bearing veins at surface with no evidence of historical drilling, trenching or even prospecting in an overlooked part of Nevada. We are excited to bring in Toogood whose team, we believe, will rapidly advance and test the property."
About the Table Mountain Project
The Table Mountain project consists of 184 lode claims located forty-five kilometres north of the town of Pioche within the Oligo-Miocene Indian Peak Caldera complex (Figure 1) in eastern Nevada. The claims are located on ground managed by the BLM with rough road access.
The property is focused on a four by two-kilometre alteration cell composed of kaolinite and weakly crystalline illite consistent with the high levels of epithermal systems (Figure 2). The alteration cell is notable for the absence of historical work including drilling, prospect pits and legacy claim posts.
The property is cut by widespread veining with vein widths locally exceeding three metres and returning anomalous precious metal values of up to 2.62 g/t gold and 49.7 g/t silver. The multiple outcropping veins display textures including crustiform-colloform fine-grained quartz and coarse silica after platy calcite typical of low-sulphidation epithermal veins (Photo 1).
Figure 1: Location of the Table Mountain project in relation to the caldera fields of Eastern Nevada and to World Class epithermal deposits. Adapted from, Best et al., 2013. Towns shown by black squares.
Figure 2: Gold in rocks and mapped alteration cell from airborne spectral survey at the Table Mountain project.
Photo 1: Vein material from outcropping veins at Table Mountain displaying an epithermal texture consisting of fine grained quartz rich bands.
Qualified Person Statement
All new technical data, as disclosed in this press release, has been reviewed and approved by Laurence Pryer, Ph.D., P.Geo., 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. Additional information can be found on the links in the footnotes or on SEDAR+ (www.sedarplus.ca).
Summary of Analytical Method
The assay results reported from the Table Mountain property represent first pass reconnaissance samples typically "grab" or "select" in nature. They do not represent the true width or grade of the veins. All rock samples were analyzed by ALS Geochemistry via Au-ICP21 (Au 30g FA ICP-AES Finish), Hg-MS42 and ME-MS61. The samples were processed at ALS Reno and ALS Vancouver. Orogen does not insert any standard, blanks or duplicates during first pass reconnaissance rock sampling.
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 Ermitaño gold and silver Mine in Sonora, Mexico (2.0% NSR royalty) operated by First Majestic Silver Corp. The Company is well financed with several projects actively being developed by joint venture partners.
On Behalf of the Board
OROGEN ROYALTIES INC.
Paddy Nicol
President & CEO
To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President, Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.
Orogen Royalties Inc.
1015 - 789 West Pender Street
Vancouver, BC
Canada V6C 1H2
info@orogenroyalties.com
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Orogen Royalties Inc.
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