Mr. Paddy Nicol reports

OROGEN ROYALTIES SIGNS LOI TO OPTION TABLE MOUNTAIN GOLD PROJECT TO TOOGOOD GOLD

Orogen Royalties Inc. and a wholly owned subsidiary of alliance partner Altius Minerals Ltd. (collectively the alliance partners) have signed a binding letter of intent agreement (the LOI) with Toogood Gold (TGC) to option the Table Mountain gold project 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 whereby Toogood can acquire a 100-per-cent interest in Table Mountain by issuing 16,683,430 Toogood shares to the alliance partners as follows:

1. One million shares within three days of signing the definitive agreement;
2. 3.5 million shares within six months of the effective date;
3. 5.5 million shares within one year of the effective date;
4. 6,683,430 shares within two years of the effective date.

Based on the market price of Toogood's shares as of Feb. 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-per-cent net smelter return (NSR) royalty to the alliance partners subject to the following buydown provisions:

1. 0.5-per-cent NSR royalty buydown for $5.0-million (U.S.) up to the fourth anniversary of the exercise of the option agreement;
2. 0.5-per-cent NSR royalty buydown for $15-million (U.S.) 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 Sept. 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-per-cent NSR royalty upon completion on the option agreement.

Paddy Nicol, chief executive officer 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 45 kilometres north of the town of Pioche within the Oligo-Miocene Indian Peak Caldera complex in eastern Nevada. The claims are located on ground managed by the BLM (Bureau of Land Management) 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. 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.

Qualified person statement

All new technical data, as disclosed in this press release, has 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. Additional information can be found on SEDAR+.

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 30 g 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 Ermitano gold and silver mine in Sonora, Mexico (2.0-per-cent NSR royalty), operated by First Majestic Silver Corp. The company is well financed with several projects actively being developed by joint venture partners.

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