Orogen Reports Strong Q1 2026 Results with 144% Growth in Net Income

About this update from Orogen Royalties Incorporation

VANCOUVER, BC / ACCESS Newswire / May 26, 2026 / (TSXV:OGN)(OTCQB:OGNNF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to report record revenue and after-tax profit for the three-month period ended March 31, 2026. Q1-2026 Highlights All figures are stated in Canadian dollars unless otherwise noted. "We are pleased with our strong start to 2026, building on the momentum established last year with continued growth across our business," said Paddy Nicol, President and CEO. "Net income from operations increased 144% to $4.4 million, supported by higher gold prices and steady production from the Ermitaño mine. Our prospect generation model continued to perform strongly, delivering an 80% increase in net earnings and reinforcing its role as a core pillar of our strategy of organic royalty creation. At the same time, we maintained disciplined cost control, where G&A expenses were reduced by 35% year over year. We ended the quarter with $30 million in working capital, no debt, and strong operating cash flow, positioning us well to advance our portfolio and drive sustainable growth through 2026." For complete details of the Company's financial results, please refer to the condensed interim consolidated financial statements and MD&A for the three-month periods ended March 31, 2026 and 2025. The Company's filings are available on SEDAR+ at www.sedarplus.ca and on Orogen's website at www.orogenroyalties.com. Please also see non-IFRS Measures at the end of this news release. Summary of Results Royalty Revenue - Ermitaño Royalty, Sonora, Mexico The Ermitaño Mine forms part of First Majestic's Santa Elena mine complex, which includes both the Santa Elena and Ermitaño operations. The Company's royalty area of interest applies solely to the Ermitaño concessions. For the three-month period ended March 31, 2026, the Company recorded $3.4 million (2025 - $2.1 million) in royalty revenue generated from the Ermitaño mine. This represents 519 GEOs (2025 - 497 GEOs), a 5% reduction from last quarter and a 4% increase from 2025, based on an average price of US$4,873 (2025 - US$2,860) per ounce. Production in Q1-2026 included 284,236 tonnes of ore were processed, representing a 5% increase compared to Q1-2025. The average silver and gold head grades were lower during the current quarter with 61 gram...

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