Mr. Paddy Nicol reports

OROGEN ROYALTIES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $10 MILLION

Orogen Royalties Inc. intends to raise up to $10-million by way of a non-brokered private placement consisting of issuing up to 2,890,274 common shares of the company at a price of $3.46 per common share.

The proceeds from the private placement will be directed toward developing generative exploration initiatives, executing potential royalty acquisitions and strengthening the company's working capital to support its continuing growth strategy.

Certain directors and officers of the company may acquire securities under the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

The company may pay finders' fees in connection with the private placement, as determined by mutual agreement between the company and the finders, and subject to the approval of the TSX Venture Exchange. The finders' fees will consist of a 5-per-cent cash fee for common shares sold to investors introduced by such finders.

All common shares issued pursuant to the private placement will be subject to a four-month hold period under applicable securities laws in Canada and applicable securities legislation hold periods outside of Canada from the closing date. The company anticipates closing of the private placement within approximately three to four weeks from the date hereof and will be subject to receipt of all necessary regulatory approvals, including the approval of the exchange. There can be no assurance that the private placement will be completed as proposed or at all.

About Orogen Royalties Inc.

Orogen Royalties is focused on organic royalty creation and royalty acquisitions of 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 (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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