Orogen Royalties Acquires Serpent Gold Project in Nevada

Orogen Royalties Inc, a Vancouver-based company focused on organic royalty creation and exploration, has acquired the Serpent gold project in Nevada, USA. The acquisition, made in partnership with Altius Minerals Corporation, is a district-scale, low-sulphidation epithermal gold target located in central Nevada.

The Serpent project covers approximately 18.8 square kilometres, consisting of 225 BLM claims, and is situated 25 kilometres northwest of Rachel, Nevada. It is characterized by a series of gold-bearing structures within an eight-kilometre trend of kaolinite and illite alteration, identified through airborne hyperspectral AVIRIS data. The primary focus of the project is the northeast-striking Cobra structural corridor, a two-kilometre zone displaying a transition from the uppermost portions of a boiling zone to significant chalcedonic and opaline silicification.

Reconnaissance rock sampling in the boiling zone has defined anomalous gold values up to 0.95 grams per tonne (g/t) and also identified anomalous mercury (6 to 10 parts per million, ppm) and silver (37 ppm) in a perpendicular structural trend. Although the property has not been drilled, the exposure of vein sets in the boiling zone suggests the presence of fine-grained saccharoidal silica with abundant platy quartz after calcite and banding textures. The presence of adularia and strong silicification in multiple additional structures north of the Cobra corridor indicates potential for bonanza epithermal mineralization.

Preliminary rock sampling at the Ant Hill Zone, three kilometres south of the boiling zone, returned grades up to 0.4 g/t gold, highly anomalous mercury (6 to 10 ppm), and anomalous silver (37 ppm) from a silicified structure. Assays from these northern zones are pending.

Laurence Pryer, VP Exploration of Orogen, commented, "The Serpent epithermal project contains multiple gold-bearing mineralized structures across an alteration footprint with the size to host a district-scale epithermal system comparable to the nearby Round Mountain or Arthur Gold projects. To discover highly anomalous gold in the preserved upper levels of an undrilled epithermal system in a highly prospective host rock and structural setting validates the work Orogen continue to do with Altius Minerals."

The acquisition of the Serpent project is part of Orogen's ongoing strategy to create and acquire royalties on precious and base metal discoveries in western North America. Orogen's portfolio includes the Ermitaño gold and silver mine in Sonora, Mexico, operated by First Majestic Silver Corp.

The project will be highlighted during Orogen's third annual Project Generator Day on September 16, 2026, at 10:00 AM Pacific Standard Time (1:00 PM Eastern Standard Time). The event will be held as a Zoom webinar and can be registered for via the provided link.

The Serpent project represents a significant underexplored opportunity in a highly prospective host rock and structural setting, offering substantial potential for the discovery of a district-scale epithermal gold system.