Orogen Royalties Signs LOI to Option Nevada Gold Project

Orogen Royalties Inc. has announced a binding Letter of Intent Agreement with Toogood Gold for the Table Mountain gold project in Nevada. Within 45 days, Toogood may execute a definitive option agreement to acquire a 100% interest in the project by issuing 16,683,430 shares to Orogen and Altius Minerals Ltd. The shares hold a market value of $2.25 million.

Upon agreement completion, Toogood will grant Orogen and Altius a 3% net smelter return royalty, with specific buydown options. The Table Mountain project features widespread veining and promising precious metal values.

Paddy Nicol, Orogen's CEO, highlighted the project's potential due to its unexplored gold-bearing veins. The acquisition will split proceeds and royalty shares evenly between Orogen and Altius under their generative alliance.