Orogen Royalties Establishes New Royalty on Si2 Gold Project

Orogen Royalties Inc. has announced a new purchase and sale agreement with K2 Gold Corporation for the Si2 gold project in Nevada. Under the agreement, K2 acquires 100% interest in the project by paying C$250,000 in cash or shares, with Orogen retaining a 2% net smelter return royalty. This agreement replaces a previous option made in 2022 that involved cash payments and exploration expenses exceeding C$2.3 million.

The Si2 project, located north of Tonopah, Nevada, features significant geological alterations suggestive of gold potential. In 2023, K2 conducted a drilling program that revealed gold-bearing potential through broad anomalous gold intercepts.

The project shares geologic similarities with the multi-million ounce Expanded Silicon Project in Nevada, where Orogen holds a 1% NSR royalty. Orogen's CEO expressed optimism about K2's capability to advance the project amid challenging market conditions for junior exploration firms.