P2 Gold Inc. (TSXV:PGLD) entered into an agreement to acquire Western portion of Orogen?s Ball Creek Property, Canada from Orogen Royalties Inc. (TSXV:OGN) for CAD 0.9 million on March 5, 2023. Under the terms of the Agreement, in return for the transfer of the Ball Creek Claims, the Company will issue four million shares in its capital to Orogen and grant Orogen a one percent net smelter returns royalty in respect of production from the Ball Creek Claims. In addition, the Ball Creek Property is subject to an underlying agreement with Sandstorm Gold Ltd. (?Sandstorm?) pursuant to which Sandstorm holds a two percent net smelter returns royalty, one percent of which may be repurchased for CAD 1 million, and is entitled to a payment of CAD 1 million on the announcement of a one-million-ounce Mineral Resource and CAD 3 million on the announcement of a positive feasibility study. Under the Agreement, the Company has agreed to assign Orogen the right to repurchase one percent of the Sandstorm Royalty and assume the obligations to Sandstorm on the announcement of a one-million-ounce Mineral Resource and a positive feasibility study in respect of the portion of the Ball Creek Property being acquired by the Company.

The Agreement remains subject to Exchange approval.