Orogen Royalties Updates on Ermitaño's Navidad Portal Construction

Vancouver-based Orogen Royalties Inc. has announced that permits have been granted to First Majestic Silver Corp. for the portal construction at the Navidad deposit. Orogen holds a 2% net smelter return royalty on this deposit, which is part of the Santa Elena/Ermitaño mine. Significant infill drilling results have been showcased, indicating promising gold and silver intercepts.

First Majestic has committed an additional US$12 million to initiate portal construction at both the Navidad and Santo Niño deposits. This investment aims to provide underground access, develop infrastructure, and advance hydrogeological studies. The drilling program at Navidad shows potential for extending mine life due to the conversion of inferred resources to indicated resources.

In the first half of 2026, over 7,700 meters of drilling at Navidad's Winter Vein has been completed, yielding noteworthy results such as a hole grading 23.59 g/t gold and 359 g/t silver over 2.49 meters. Portal construction is anticipated to begin in the latter half of 2026, which would support future mining operations at this key location.