Orogen Royalties Updates on Ermitaño Mine Exploration

Orogen Royalties Inc. announced significant progress on the Ermitaño gold mine in Sonora, Mexico, operated by First Majestic Silver Corp. The company holds a 2% net smelter return royalty on the Ermitaño concession, highlighting the mine's potential with recent exploration successes.

Drilling at the Navidad area revealed notable assays: 5.8 g/t gold and 126 g/t silver over 8 meters, and 4.88 g/t gold with 50 g/t silver over 4.6 meters. Meanwhile, resource conversion efforts at the Luna zone confirmed previous modelling and improved geological understanding.

First Majestic's exploration extended mineralization up to 1,200 meters and completed a material handling study for Navidad. An expansion of the processing plant aims to increase capacity to 3,500 tonnes per day.

Orogen CEO Paddy Nicol expressed optimism about the long-term financial benefits and sustainability of the Ermitaño royalty following these developments.