Option Agreement On The Ghost Ranch Property

VANCOUVER - Orogen Royalties Inc. has signed an agreement with Ivy Minerals Inc. to option Orogen's Ghost Ranch gold project in northeastern Nevada. "Ghost Ranch is an undrilled Carlin-type target under shallow pediment along a regional gravity break, that could represent an extension of the Long Canyon trend," said, Paddy Nicol, CEO. "The structure of this Agreement allows Orogen to participate with an equity interest in the event a discovery is made at Ghost Ranch, with the optionality of converting to an NSR royalty within a relatively short time frame."

The Ghost Ranch project is located 25 kilometers west of West Wendover. The project consists of 258 claims located on BLM land encompassing a shallow shelf covered by less than one hundred meters of alluvium. Prospective Cambrian and Ordovician host rocks project into the subsurface and have seen no historic drilling. This stratigraphy outcrops to the east at Morgan Pass where Carlin-type mineralization occurs at surface but development has been limited due to the wilderness study area land status to the east of Ghost Ranch. At Ghost Ranch, enzyme leach soils covering the northern half of the property display a strong correlation between inferred structures and anomalous gold and Carlin Suite elements. The property represents a rare opportunity to discover Carlin-type systems in Nevada at less than one hundred meters depth. Ivy minerals have expanded the soil survey across the remainder of the project and will use these results to guide future drill plans.