Orogen Royalties to sell Los Coyotes project to Fresnillo

Orogen Royalties signed a purchase and sale agreement with a subsidiary of Fresnillo (FNLPF) whereby Fresnillo has acquired the Los Coyotes silver-gold project, located in Sonora Mexico. To acquire a 100% interest in the Los Coyotes project, Fresnillo will pay Orogen $118,000 on signing and $1 million on the commencement of commercial production. Orogen will retain a 1% net smelter return royalty. The Los Coyotes property consists of six claims covering over 600 hectares located approximately 180 kilometres northeast of Hermosillo in Sonora Mexico. The property lies within the prolific Laramide porphyry copper belt, between Mexico’s two largest copper mines, Cananea and La Caridad. and within the Sierra Madre Occidental Gold and Silver Belt proximal to multiple producing Eocene precious metal vein systems including the Santa Elena, Ermitano, Las Chispas and Mercedes mines.