Orogen Royalties Reports Increased Gold Resources at Merlin Deposit

Orogen Royalties Inc. announced a significant update on the Merlin deposit within the Expanded Silicon project in Nevada. AngloGold Ashanti NA, project owner, confirmed a 34% rise in inferred gold resources, now at 12.1 million ounces, a separate entity from the Silicon deposit's 4.22 million ounces.

Orogen benefits from a 1% net smelter return royalty covering this project, which exposes them to 16.31 million ounces of gold. The Merlin deposit's new resource suggests a 25% rise in tonnage and a 7% improvement in gold grade, following extensive drilling activities that total 132 kilometers within the Merlin area last year.

Further exploration is ongoing, aiming to enhance the resource model and support a pre-feasibility study planned for the latter half of 2025. The Chairman expressed satisfaction with the increased reserves, noting future drilling to refine the resource.