Orecap Announces Intent to Spin Out Gold Assets in Kirkland Lake

Toronto, Ontario--(Newsfile Corp. - April 29, 2025) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) ("Orecap" or the "Company") is pleased to announce plans to spin out some or all of its high-quality gold exploration and development assets into newly formed subsidiary companies.

This initiative may focus on Orecap's gold projects in the Kirkland Lake area, as well as separate opportunities originated by the Company. These strategic spin-outs are designed to unlock currently underrecognized value for Orecap shareholders and are aligned with the Company's business model as an investment issuer, and not a driller or developer of physical land assets.

Orecap is currently trading at approximately the book value of its equity portfolio, with little to no value being attributed to its gold assets, particularly those in the Kirkland Lake District. In addition to its current holdings, Orecap may continue to originate and develop new investment opportunities, as it has successfully done with Awalé, American Eagle, Cuprum, Mistango, Kintavar, and others.

Orecap is an investment issuer with a proven track record of identifying overlooked and undervalued geological opportunities, financing them, installing high-quality management teams, and advancing projects to create shareholder value. Orecap is planning for and anticipating a broad re-rating within the metals sector and intends to position its shareholders with deep-value opportunities ahead of this expected shift.

Unlocking Value from Physical Assets

• McGarry — Located in Virginiatown, Ontario spanning 2.4km of one of the world's most prolific gold structures, Cadillac Break, McGarry hosts an indicated resource of 447,000 tonnes @ 8.57 g/t Au (123,000 oz) and an inferred resource of 157,000 tonnes @ 5.83 g/t Au (30,000 oz). Significant underground mining infrastructure is in place, including a headframe, hoist and electrical substations. McGarry is contiguous with the prolific Kerr Addison deposit, which produced 11 million ounces @ 9 g/t Au.
• Mirado — Located 35km southeast of Kirkland Lake, Mirado is a PEA-stage asset with current indicated mineral resource of 559,000 tonnes @ 2.61 g/t Au (46,900 oz), and inferred resource of 382,000 tonnes @ 2.66 g/t Au (32,700 oz) within just the Mirado South Zone Open Pit. PEA showed 158% IRR, $20.5M NPV5% at US$1,300/oz Au.
• Knight — Located in Shining Tree, Knight is contiguous with Aris Mining's Juby Gold Project (2.26 Moz Au, Indicated and Inferred). Knight has multiple zones, including Minto—which showed some of Canada's highest gold intersections (18.2 g/t Au over 65.7 metres), and Tyranite—which has in place mining infrastructure.

Each new subsidiary would be structured to raise dedicated capital independently, advancing projects without causing dilution to existing Orecap shareholders.