05:52:24 EDT Fri 03 Apr 2026
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Origen Resources Inc
Symbol ORGN
Shares Issued 57,930,154
Close 2026-04-02 C$ 0.08
Market Cap C$ 4,634,412
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Origen firms up deal to acquire two projects in Brazil

2026-04-02 18:43 ET - News Release

Mr. Gary Schellenberg reports

ORIGEN SIGNS DEFINITIVE AGREEMENT AND INCREASES RARE EARTH ELEMENT LAND POSITION IN BRAZIL TO 35,000 HECTARES

Origen Resources Inc. has signed a definitive agreement with Weberte Giovan de Almeida and Associates (the vendor) to acquire a 90-per-cent interest in two REE (rare-earth element) project areas in Piaui state, Brazil. In addition, the company has been granted a right of first refusal over five additional project areas within the state. All of the project areas covered under the agreement were targeted to encompass newly documented REE occurrences reported by the Brazilian Geological Survey or Servico Geologico do Brasil (SGB) in Informe Tecnico Numero 27 in June, 2025.

Key points:

  • Definitive agreement signed with the vendor;
  • Increased land package by staking over 21,000 adjacent hectares;
  • New package covers ground where known mineralization is predicted to extend;
  • Due diligence sampling confirms vendor and SGB results.

Based on initial field observations by Origen during its due diligence and observing that the basin stratigraphy suggested that prospective beds could extend beyond the existing claims, the company made application for an additional 21,650 hectares for rare earths within the district. All the applications have now been granted resulting in Origen controlling over 35,540 hectares of prospective ground within this emerging REE district.

"Based on our initial observations, this project has all the ingredients to turn into something significant and launch this region of Brazil into the REE spotlight. We are excited by the level of confidence and enthusiasm that the field due diligence program has generated, and we will be moving forward to exploit first-mover advantage and solidify a basin-scale land position," states Gary Schellenberg, chief executive officer.

During the fieldwork phase, Origen staff visited both licences covered by the agreement, collecting soil and rock samples at key showings and other outcrops of what are understood to be the prospective strata. During three days on the two licences, 23 rock samples and 16 soil samples were collected at 31 stations for confirmation of the SGB-identified anomalies and characterization of the prospective horizons in preparation for planning exploration. All soils and a selection of rocks were tested using a portable X-ray fluorescence (XRF) spectrometer prior to shipment to SGS Geosol, an analytical laboratory with experience in analysis of geological materials and holding ISO 9001:2015 and ISO14001:2015 certification. All samples were digested by lithium metaborate fusion and finished by ICP-OES/MS. All soil samples and selected rocks were additionally analyzed using an ammonium sulphate leach followed by ICP-OES finishing (lab codes ICP95A, IMS95A, ICM694). All samples were further tested with a radiometric spectrometer, which was also used to characterize outcrops in the field. Laboratory, field XRF and field radiometric analysis confirmed previous results provided by the vendor and published by SGB. Due diligence fieldwork also confirmed that the mineralization is present in specific phosphate nodule bearing beds and in phosphatic sandstone beds. Consequently, acquisition of additional ground where these prospective beds are predicted to continue was warranted. The company now feels they are well equipped to create an exploration plan for permitting and communication with local stakeholders.

The company has retained Coast Mountain Geological Ltd. to provide technical and project management services. Coast Mountain is a company holding 2.9 per cent of the outstanding shares of the company, and of which one of the directors of the company owns 60 per cent of the shares of Coast Mountain.

John Harrop, PGeo, a qualified person as that term is defined in National Instrument 43-101, has supervised the preparation, or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast Mountain Geological where approximately 10 per cent of his time is spent on Origen matters. He is not independent of the company as defined in NI 43-101. Mr. Harrop also holds incentive stock options of Origen. The company does not believe Mr. Harrop's independence is compromised by his role with Coast Mountain and the options of Origen held, and that Mr. Harrop is an independent QP of Origen for the purposes of this news release.

The company and Mr. Harrop are independent of SGS Geosol Laboratory.

Terms of the acquisition

To acquire a 90-per-cent interest, Origen will pay the vendors $50,000 (U.S.) and issue two million shares. Additionally, within two years of the completion of its CSE filing requirements as it relates to the agreement, Origen must incur $1-million of exploration expenditures. After this two-year period, Origen will issue to the vendor a number of shares of the company equal to 15 per cent of the outstanding shares and grant the vendor a seat on the board of directors. The total number of shares that will make up 15-per-cent ownership will include the two million shares issued at the outset (regardless of whether or not the vendor is then a holder of such initial shares). After the 90-per-cent interest is earned, the parties will operate the projects via a newly formed corporate entity.

The vendor also grants Origen a right of first refusal on their five other exploration concessions totalling approximately 9,903 hectares located in Piaui state that are analogous to the two REE project areas announced in this news release.

All shares issued to the vendor will have a hold period of four months and one day from the date of issuance.

Financing

In conjunction with the signing of the agreement, the company has arranged a $500,000 financing comprised of the non-brokered private placement of 10 million units at five cents per unit. Each unit consists of one common share plus one-half share purchase warrant, with each whole warrant exercisable over the next 18 months at a price of 7.5 cents into a common share.

The financing is subject to the company's completion of its filing requirements with the Canadian Securities Exchange. All securities issued under the financing will have a hold period of four months and one day from the date of the closing.

About Origen Resources Inc.

Origen is fully focused on this new Brazilian REE acquisition, while holding a 100-per-cent interest in the Los Sapitos lithium project in Argentina, the Wishbone project in the Golden Triangle of British Columbia, and three other 100-per-cent-owned precious and critical metal projects in Southern British Columbia.

We seek Safe Harbor.

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