Orogen Royalties Participates in BHP's 2025 Xplor Accelerator Program

Rhea-AI Summary

Orogen Royalties (TSX.V:OGN)(OTCQX:OGNRF) has been selected as one of eight exploration companies to participate in BHP's 2025 Xplor program for generative exploration in western North America. The company will receive a US$500,000 non-dilutive grant along with in-kind services from BHP and industry experts.

The program, established in 2023, aims to accelerate exploration supporting the energy transition. Through this six-month initiative, Orogen will gain access to BHP's global expertise, networks, and partnerships, while BHP benefits from Orogen's experienced exploration team with a proven discovery track record in western North America.

Orogen's portfolio includes the Ermitaño gold and silver mine in Sonora, Mexico (2% NSR royalty) operated by First Majestic Silver Corp. and the Expanded Silicon gold project (1% NSR royalty) in Nevada, being developed by AngloGold Ashanti NA.

Positive

• Secured US$500,000 non-dilutive funding through BHP Xplor program
• Selected as one of eight companies from hundreds of applicants
• Gained access to BHP's expertise and industry networks
• Recognition of exploration capabilities by major mining company BHP

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / January 6, 2025 / (TSX.V:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce the Company has been selected to participate in the BHP 2025 Xplor program for generative exploration in western North America.

Program Highlights

• Orogen is one of eight exploration companies selected by BHP from hundreds of applicants to participate in the 2025 BHP Xplor program

• The transaction provides Orogen entry into a new area for generative exploration while gaining access to BHP's global expertise, networks and partnerships

• BHP will gain exposure to Orogen's talented exploration team with a track record of exploration discovery in western North America

• Orogen will receive a one-off, non-dilutive grant of approximately US$500,000 and in-kind services with BHP and other industry experts and investors

• Funding will enable both parties to jointly build out geological concepts and design programs to accelerate exploration

Orogen's CEO, Paddy Nicol commented, "BHP's participation in our generative programs is an exciting opportunity for Orogen and a strong endorsement of our exploration team. We have always sought to operate as a concept-based and data-driven explorer, and it is pleasing to be recognised for our approach by BHP. We look forward to working with BHP Xplor team on this exciting initiative."

BHP's Head of Xplor, Marley Palin congratulated Orogen, saying: "The field of applicants for BHP Xplor was extremely strong this year. Successful applicants had to demonstrate not only that their critical-mineral projects were highly prospective but also that they were committed to pushing industry boundaries in their geological concepts and data-gathering, testing and processing to realise the project. Orogen more than met these criteria and we look forward to partnering with them."

About the BHP Xplor Program

The Xplor program was established in 2023 to support promising minerals explorers to accelerate the exploration needed to support the energy transition. Over a six-month program period, BHP Xplor targets development of technical, business and operational excellence within participating companies. It is expected Orogen's participation in Xplor will expedite the build-out of geological concepts and the exploration timeframe.

About Orogen Royalties Inc.

Orogen Royalties Inc. is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver mine in Sonora, Mexico (2% NSR royalty) being mined by First Majestic Silver Corp. and the Expanded Silicon gold project (1% NSR royalty) in Nevada, USA, being advanced by AngloGold Ashanti NA. The Company is well financed with several projects actively being explored under joint ventures.

On Behalf of the Board

OROGEN ROYALTIES INC.

Paddy Nicol
President & CEO

To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President, Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.

Orogen Royalties Inc.
1015 - 789 West Pender Street
Vancouver, BC
Canada V6C 1H2
info@orogenroyalties.com

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Although the Company believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Orogen Royalties Inc.

View the original press release on accesswire.com

FAQ

What is the value of the grant Orogen Royalties (OGNRF) received from BHP's Xplor program?

Orogen Royalties will receive a one-off, non-dilutive grant of approximately US$500,000, plus in-kind services from BHP and other industry experts.

How many companies were selected for BHP's 2025 Xplor program alongside Orogen (OGNRF)?

Orogen is one of eight exploration companies selected by BHP from hundreds of applicants for the 2025 Xplor program.

What royalties does Orogen (OGNRF) currently hold in its portfolio?

Orogen holds a 2% NSR royalty on the Ermitaño gold and silver mine in Mexico and a 1% NSR royalty on the Expanded Silicon gold project in Nevada.

How long will Orogen (OGNRF) participate in the BHP Xplor program?

The BHP Xplor program runs for a six-month period, during which Orogen will receive support to develop technical, business, and operational excellence.