Orogen Royalties Enters into Agreement to Sell the Slaughterhouse Copper-Gold Project to Seabridge Gold

VANCOUVER, BC / ACCESS Newswire / October 13, 2026 / (TSXV:OGN)(OTCQX:OGNNF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that it has signed a purchase and sale agreement (the "Agreement") with a subsidiary of Seabridge Gold Inc. ("Seabridge") whereby Seabridge will acquire a 100% interest in Orogen's Slaughterhouse Iron-Oxide-Copper-Gold ("IOCG") project in Wyoming, USA.

Under the terms of the Agreement, Seabridge will pay to Orogen US$300,000 cash on closing and milestone payments of up to US$2.55 million. Orogen will retain a 2.5% net smelter return ("NSR") royalty, subject to certain buydown provisions, on the Slaughterhouse project, and a 0.5% to 1% NSR royalty on a regional 2,400 square kilometre area of interest ("AOI") surrounding the Slaughterhouse claims.

"The Slaughterhouse project is the culmination of investigative and generative exploration using external and in-house knowledge, and regional exploration datasets over several exploration seasons," commented Orogen CEO Paddy Nicol. "The regional AOI represents a district scale opportunity providing Orogen broad exposure to discovery. Seabridge has one of the most successful exploration track records in our industry as demonstrated by its reserves and resources, and we welcome their expertise on the Slaughterhouse project.

About the Slaughterhouse Project

The Slaughterhouse project covers a twelve kilometre long mineralized trend host to hematite-dominated Iron-Oxide-Copper-Gold (IOCG) mineral targets with strong analogs to the deposits of the Gawler Craton in South Australia. The Gawler Craton is the world's premier IOCG province hosting systems including the supergiant Olympic Dam, Prominent Hill, Carrapateena and the recently discovered Oak Dam.¹ The IOCG systems in Wyoming and the Gawler Craton are both hematite dominated, a rare category that indicates preservation of the shallowest levels of these Paleoproterozoic systems.²

At Slaughterhouse, the observed mineralization occurs with ubiquitous hematite as breccias, fracture coatings, and dustings. Alteration includes chlorite, calcite, ankerite-siderite, and sericite. Observed iron sulphides include minor pyrite with chalcopyrite, chalcocite, and bornite. Gold values vary (up to 12 grams per tonne ("g/t") gold in grab samples) but correlate strongly with copper (up to 7% in grab samples). Elevated Heavy Rare Earth Elements (HREEs) occur in select areas.

The observed mineralization at Slaughterhouse occurs within a larger footprint of iron rich metasomatism extending across several hundred square kilometres. The region is underpinned by the Cheyenne belt, a major Proterozoic deformation zone separating the Archean Wyoming Craton to the north from Proterozoic supracrustal rocks to the south.

Regional occurrences, and the targets developed at Slaughterhouse, have seen historical mining but no systematic modern exploration based on the IOCG mineral system framework.

The principal target defined to date is Proud Peak that features an over two kilometre long density anomaly underlying high level iron rich alteration. The scale and tenor of the anomaly is analogous to the geophysical signature that led to the discovery of Prominent Hill in Southern Australia.³

Figure 1: Approximate location of the Slaughterhouse project in Wyoming

Transaction Details

Under the terms of the Agreement, Seabridge will acquire a 100% interest in the Slaughterhouse project subject to the following payments (US dollars):

• $300,000 on closing of the transaction;
• $300,000 on completion of 10,000 metres of drilling on the Slaughterhouse project and/or the surrounding AOI;
• $750,000 upon publication of a mineral resource estimate on the Slaughterhouse project and/or the surrounding AOI; and
• $1,500,000 upon commencement of commercial production, which will be deemed to be an advance minimum payment of the royalties payable to Orogen.

Orogen will retain a 2.5% NSR royalty on the Slaughterhouse project subject to a 0.5% NSR buydown for $5 million. Orogen will also retain a 0.5%-1% NSR on any project generated by Seabridge in the surrounding AOI, subject to certain conditions. Completion of the transaction remains subject to customary conditions of closing.

Qualified Person Statement

All technical data, as disclosed in this press release, has been reviewed and approved by Laurence Pryer, Ph.D., P.Geo., VP Exploration for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.

About Orogen Royalties Inc.

Orogen Royalties 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 (2.0% NSR royalty) operated by First Majestic Silver Corp. The Company is well financed with several projects actively being developed by exploration partners.

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 of 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

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.

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.

1. https://www.bhp.com/what-we-do/global-locations/australia/south-australia
2. https://www.sciencedirect.com/science/article/pii/S0169136821005953
3. https://www.researchgate.net/publication/247864637_Prominent_Hill_A_Hematite-Dominated_Iron_Oxide_Copper-Gold_System

SOURCE: Orogen Royalties Inc