Orogen Royalties Acquires a Copper Royalty in Colombia

VANCOUVER, BC / ACCESSWIRE / May 31, 2023 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce it has signed a purchase and sale agreement (the "Agreement") with Gold Plata Mineral Investments Corp. ("Gold Plata"), to acquire a 1% net smelter return ("NSR") royalty interest in the La Rica copper-gold project in northern Colombia.

Highlights

• La Rica is a 160 square-kilometre land package located in the Mande Batholith, the northernmost segment of the prolific Andean copper belt that extends from Chile through to Panama.
• The royalty Area of Interest ("AOI") contains at least four undrilled copper-gold porphyry targets within a fifteen kilometre long trend of anomalous copper geochemistry on the western margin of the Mande Batholith.
• La Rica contains outcropping chalcopyrite, bornite and gold mineralization related to potassically altered quartz diorite porphyries.
• The namesake La Rica zone is defined by 118 samples taken over a 600 metre by 500 metre area averaging 0.76% copper and 0.47 g/t gold.
• La Rica is currently held by a private exploration company ("Private Company") with land holdings in Colombia.

"The acquisition of a 1% NSR royalty on the La Rica project aligns with Orogen's strategy of using its technical expertise to identify low-cost royalties with significant exploration potential that could provide strong risk-adjusted returns," commented Orogen CEO Paddy Nicol. "La Rica represents a rare opportunity for exposure to an exploration target in the Mande Batholith, an important and underexplored component of the South American Eocene-Oligocene arc that hosts giant porphyry copper districts including Escondida, Chuquicamata, Colluasi and Cobre Panama."

About the La Rica Project

The Mande Batholith (Figure 1) was first identified as prospective for porphyry copper targets by a regional stream sediment survey carried out by Ingeominas (Colombian Geological Survey) and the United Nations in 1970. The La Rica project was one of the priority porphyry copper targets recognized in this study. La Rica occurs on the western margin of the Mande Batholith proximal to the Murindo Fault, a regional-scale arc-parallel fault system that can be traced down the axis of the Mande Batholith (Figure 2). The Murindo Fault is considered analogous to the Domeyko Fault System (West Fissure) of northern Chile that localizes Eocene-Oligocene aged copper deposits.

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