Over 7,700 metres of infill drilling also completed in H1-2026 at Navidad's Winter Vein with multiple significant gold and silver intercepts
VANCOUVER, BC / ACCESS Newswire / June 30, 2026 / Orogen Royalties Inc. ("Orogen" or the "Company") (TSXV:OGN)(OTCQB:OGNNF) is pleased to announce that First Majestic Silver Corp. ("First Majestic"), operator of the producing gold-silver Santa Elena/Ermitaño mine, has received permits for portal construction for the Navidad deposit, where Orogen holds a cash-flowing 2% net smelter return ("NSR") royalty. Significant infill drilling results have also been reported on the Winter vein system that forms part of the Navidad deposit.1
Highlights1
First Majestic has committed an additional US$12 million to initiate the construction of portals for the Navidad and non-royalty Santo Niño deposits within the Santa Elena/Ermitaño mine complex
The additional funding will provide underground access to both areas, support decline and ramp development, and advance hydrogeological studies
Over 7,700 metres in ten holes of a planned 17,000 metre drilling program in 2026 has been completed at Navidad's Winter vein with the following highlight drill holes:
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EWUG-26-089 grading 23.59 grams per tonne ("g/t") gold and 359 g/t silver over 2.49 metres
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EWUG-26-091 grading 3.5 g/t gold and 28 g/t silver over 14.89 metres
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EWUG-26-088 grading 11.99 g/t gold and 358 g/t silver over 3.43 metres
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"Portal construction at Navidad represents an important development milestone at the Santa Elena/Ermitaño mine complex," commented Paddy Nicol, CEO of Orogen. "According to First Majestic, the smaller Santo Niño deposit has the potential for near-term mining while the larger and higher grade Navidad deposit continues to be drilled and represents one of the key discoveries in the Santa Elena/Ermitaño mine area. Both deposits have the potential to materially extend the mine life at Santa Elena. Infill drilling results received to date from Navidad support potential conversion of Inferred Resources to Indicated Resources as well as an increased confidence in volume and grade continuity of mineralized material."1,2
About the Navidad Deposits
The Navidad deposit, consisting of the Navidad and Winter veins, represent one of the most significant zones of gold and silver mineralization currently known within Orogen's 167 square kilometre 2% NSR royalty area of interest (Figure 1). The mineralization is typical of low sulphidation gold and silver vein-hosted deposits. Inferred resources at Navidad consist of 6.42 million tonnes grading 2.21 g/t gold and 89 g/t silver totaling 460,000 ounces gold and 18.41 million ounces silver. 2 (Table 1)