American Marconi Wireless News - Orogen Royalties Sells the Los Coyotes Silver-Gold Project to Fresnillo

To acquire a 100% interest in the Los Coyotes project, Fresnillo will pay Orogen US$118,000 on signing (received) and US$1 million on the commencement of commercial production. Orogen will retain a 1% net smelter return ("NSR") royalty.

Paddy Nicol, CEO of Orogen commented, "Los Coyotes is an undrilled silver-gold rich poly metallic project that was part of Orogen's larger and un-optioned Suanse porphyry copper project. This transaction brings in Fresnillo, the world's leading silver producer, with strong geological and regional expertise to focus on exploring the precious metal potential at Los Coyotes. Orogen will keep its upside exposure to Los Coyotes though its retained royalty without any further capital contribution. We look forward to the next rounds of exploration at Los Coyotes with Fresnillo."

About the Los Coyotes Silver-Gold Project
The Los Coyotes property consists of six claims covering over 600 hectares located approximately 180 kilometres northeast of Hermosillo in Sonora Mexico. The property lies within the prolific Laramide porphyry copper belt, between Mexico's two largest copper mines, Cananea and La Caridad. and within the Sierra Madre Occidental Gold and Silver Belt proximal to multiple producing Eocene precious metal vein systems including the Santa Elena, Ermitaño, Las Chispas and Mercedes mines. (Figure 1).

Mineralization on the Los Coyotes property has been mapped in multiple sub parallel northeast striking sub-vertical mineralized structures and as replacements within a limestone unit interbedded within the Andesites. The mineralized structures, which can be traced across the property for over five kilometres, are undrilled but contain several historical workings. Channel sampling of these structures at surface has returned up to 1.4 metres at 6.81 grams per tonne (g/t) gold and 927 g/t silver (Figure 2 and Photo 1).

Mineralization is hosted within dacitic to andesitic composition volcanic rocks interpreted to be part of the Laramide-age Tarahumara Formation.

Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo. VP Exploration for the Company. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.

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
[email protected]

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. Forward-looking information in this news release includes: the timing of the delisting of the common shares of Orogen from certain stock exchanges and the subsequent listing of shares of Orogen SpinCo on proposed exchanges; the expected benefits, timing and proceeds of the exploration alliances, business objectives and plans of Orogen SpinCo and the timing of the finalization of the alliance contracts. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent the companies' expectations, estimates and projections regarding possible future events or circumstances.

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.

1. https://orogenroyalties.com/news-releases/orogen-royalties-options-llano-de-nogal-to-riverside-resources/

SOURCE: Orogen Royalties Inc

View the original press release on ACCESS Newswire

L.Mason--AMWN