Hwy 37

Orogen holds various interests in the HWY 37 project owned and operated by Kingfisher Metals including:

• 1.0% NSR royalty on the Ball Creek East claims

• 1.0% NSR royalty on the Ball Creek West claims

• 3.0% NSR royalty on the Hank claims with a 1% buydown for US$3 million

The right to acquire an additional 1.0% NSR royalty on the Ball Creek East, Ball Creek West and Hank claims for $1.0 million

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Royalty Generation Timeline

November 2022

Orogen acquired a 3% NSR royalty on the Hank Royalty from Nevada Gold Mines LLC in connection with the Maggie Creek option agreement. Pursuant to the Hank royalty agreement with Golden Ridge, 1% may be purchased by Golden Ridge at any time for US$3.0 million.  In addition, Golden Ridge has agreed to make a milestone payment of US$2.5 million at the earliest of (1) the preparation of a NI 43-101 feasibility study, (2) a development decision or the commitment of construction on any part of the Hank project, or (3) the first day on which ore has been sold or shipped from the Hank project for the purpose of earning revenue. Subsequently, in March 2023, Kingfisher optioned the Hank project from Golden Ridge. 

March 2023

Orogen optioned the Ball Creek East project to Kingfisher Metals Inc. Under the terms of the Option Agreement, Kingfisher can earn a 100% interest in 35,020 hectares of mineral claims (“Ball Creek East”) by issuing $3.5 million in common shares of Kingfisher and spending $7.5 million in exploration over a four-year period. Upon exercising the Option Agreement, Kingfisher will transfer to Orogen the right to acquire a 1% NSR royalty subject to an underlying agreement. Kingfisher also granted to Orogen a 1% NSR royalty on Kingfisher’s 28,407-hectare Ecstall volcanogenic massive sulphide (“VMS”) project, located on the central coast in British Columbia on signing the Option Agreement (ground has subsequently lapsed).

March 2023

Orogen sold the Ball Creek West project to P2 Gold Inc. for $1.0 million in common shares of P2 Gold, a 1% NSR royalty and transferring to Orogen the right to acquire an additional 1% NSR royalty subject to an underlying agreement. Subsequently in January 2025, Kingfisher acquired the Ball Creek West claims from P2 Gold.

2025

Kingfisher completed 7,630 metres of drilling in eleven holes on the Hank claim. Assay highlights from ten of the eleven drill holes released include: 

• HW-25-004 grading 0.29% copper and 0.30 g/t gold over 557.8 metres including 234.35 metres grading 0.44% copper and 0.49 g/t gold  and HW-25-008 grading 0.21% copper and 0.22 g/t gold over 889.35 metres. Both from the Williams zone.
• A 500 metre step out from the Upper Hank epithermal deposit in drill hole HW-25-006 grading 0.28 g/t gold over 241 metres including 110 metres at 0.47 g/t gold.

Visual results from drill hole HW-25-011 indicate drilling appears to have intercepted the periphery of a previously undrilled porphyry system over 429 metres beneath the Hank gold-silver epithermal deposit.Assays from hole HW-25-011 are pending.  Additional drilling of the Williams area and elsewhere within Orogen’s royalty AOI is anticipated for 2026.

2024

Kingfisher completed a ZTEM geophysical survey, mapping and IP surveys to define future drill targets within the Ball Creek Porphyry Cluster. 

2023

Kingfisher completed a six-hole 2,150 metre core drill program on Orogen’s Ball Creek East portion of the HWY 37 property focused on drilling three target areas:  the Cliff porphyry, the Mary Root Zone, and the Mary deposit southern step-out. At the Mary deposit, a 100 metre step out to the southwest of previous drilling (M-23-006) returned 438 metres of 0.26 g/t gold and 0.043% copper with epithermal textures consistent with a shallow level of emplacement. This result indicates the exploration potential at depth beneath the barren cover observed at surface. The two holes drilled into the Mary Root zone returned anomalous gold and zinc intervals including 242 metres of 0.16 g/t gold and 0.13% zinc potentially representing the flanks or top of concealed copper mineralization. The two holes drilled into the outcropping quartz stockwork at Cliff returned 114 metres of 0.04 g/t gold and 0.11% Cu hosted in a more felsic phase of intrusive interpreted to be a small late intrusive phase. In combination these results outline a large hydrothermal system potentially related to a mineralized porphyry concealed by the extensive region of cover.