Orogen Royalties Inc. announced a technical update and preliminary mine production schedule for the Merlin gold deposit near Beatty, Nevada, USA. The Merlin and Silicon deposits together comprise the Expanded Silicon project, where Orogen holds a 1% net smelter return ("NSR") royalty. On April 25, 2024, project owner AngloGold Ashanti NA ("AngloGold") released a Regulation S-K 1300 Technical Report Summary entitled "Merlin deposit, Expanded Silicon project.

An Initial Assessment Report" with an effective date of December 31, 2023. Merlin Update Highlights: Inferred mineral resources at Merlin of 9.05 million ounces of gold and 15.22 million ounces of silver consisting of 284 million tonnes grading 0.99 grams per tonne ("g/t") gold and 1.67 g/t silver. The Merlin deposit remains open to the north and west with significant potential for expansion.

The pit-constrained Merlin mineral resource is based on large-scale open pit mining with estimated gold recoveries of 94% for mill material and 70% for heap leach material. AngloGold has initiated a pre-feasibility study for the Expanded Silicon project that incorporates both the Merlin and Silicon deposits. Orogen holds a 74 square-kilometre 1% NSR royalty area of interest covering the Expanded Silicon project, which includes the Silicon and Merlin deposits.

By the end of 2023, AngloGold had completed over 300 kilometres of drilling and announced resource updates in late February.