Orogen Royalties Establishes Firenze Gold Project Royalty

Orogen Royalties Inc. has entered into a purchase and sale agreement with Altitude Minerals Ltd., resulting in Altitude acquiring the Firenze gold project in Nevada, USA. As part of the agreement, Altitude will pay US$430,000 and grant a 3% net smelter return (NSR) royalty, with an option to buy back 1% for US$1.5 million.

The proceeds from this transaction will be evenly split between Orogen and its partner Altius Minerals, each receiving US$215,000 and a 1.5% NSR royalty. The Firenze project, an exploration-stage site, has not been drilled despite displaying historic high gold and silver values.

Orogen's CEO, Paddy Nicol, expressed enthusiasm over the potential of the project, noting it is the third royalty project generated with Altius. The project covers a 740-hectare area featuring epithermal veins with notable mineral grades, situated 170 kilometers east of Reno.