Orogen Acquires Three Royalties in Africa and Creates One Royalty in Mexico

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[{"type":"text","content":"Orogen Acquires Three Royalties in Africa and Creates One Royalty in MexicoVANCOUVER, BC / ACCESSWIRE / June 9, 2022 / (TSX.V:OGN) (OTCQX:OGNRF) Orogen Royalties Inc. (\"Orogen\" or the \"Company\") is pleased to announce it has signed an agreement (the \"Agreement\") with Advance Lithium Corp. (\"Advance\") to purchase 3% net smelter royalties on three prospective mineral licenses (the \"Royalties\") in the Lake Victoria Gold Fields (\"LVG\") in western Kenya. Upon closing of the Agreement, Orogen will pay Advance US$120,000 for the Royalties and transfer its interest in the Sarape Gold project to Advance. Orogen will retain a 1.5% net smelter return royalty on the Sarape project.\"Identifying royalties on high-quality early-stage exploration opportunities forms part of Orogen's strategy of royalty creation and acquisition,\" commented Paddy Nicol. \"Using the Sarape project in the transaction is a creative solution that demonstrates the ability of Orogen's hybrid prospect generation and royalty business model. Advance Lithium, a Mexican based lithium and gold explorer, is seeking exposure to the highly prospective Rio Sonora Valley, that hosts the Santa Elena/Ermitaño Mine, the Mercedes Mine and the Las Chispas deposit as well as Sarape.\"About the Western Kenya RoyaltiesUpon closing of the Agreement, Orogen will hold a 3% net smelter royalty on the Rosterman, Sigalagala, and Bukura licenses located in the Liranda Corridor, a structural zone within the northern-most greenstone belt in the LVG. The licenses collectively cover approximately 19.75 square kilometres of ground within a larger land package known as the West Kenya Project held by Shanta Gold Limited (\"Shanta Gold\"). Shanta Gold is an AIM-listed gold producer with operations in Tanzania and western Kenya. The three royalties were created in February 2022 from a joint venture between Shanta Gold and Gold Rim Exploration Kenya, a wholly owned subsidiary of Advance. Two licenses (Sigalagala and Bukura) are located approximately four kilometres east and two kilometres northwest of the Isulu and Bushiangala deposits, respectively, that are currently being advanced by Shanta Gold (see figure 1). Indicated resources of 378,000 ounces gold grading 11.70 grams per tonne (\"g/t\") and inferred resources of 739,000 ounces gold grading 10.80 g/t gold at Isulu and Bushianga...

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