Orogen appoints Mr. Roland Butler to the Board of Directors

VANCOUVER, March 25, 2021 - (TSXV: OGN) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce the appointment of Mr. Roland Butler to the Company's Board of Directors.

Mr. Butler has worked in royalty and prospect generation for over twenty years. He is a co-founder of Altius Minerals Corp. (TSX: ALS) where he served as Vice President and Director from listing in 1997 to 2010. Roland then served as CEO of Callinan Royalties Corp. from 2011 to 2014, which structured the funding of numerous early-stage exploration alliances resulting in the generation of mineral projects, including the Silicon gold project (now owned by AngloGold Ashanti NA), where Orogen holds a 1% net smelter return royalty.

"Orogen's objective is to build a royalty business based on the Company's core strengths in mineral exploration and industry experience. We hold a high-quality portfolio of royalties on early to advance stage projects with significant growth and near-term production potential. Orogen also has several active joint ventures in Canada, USA, and Mexico that are structured for royalty creation", commented Orogen's CEO Paddy Nicol. "Mr. Butler's depth of experience enhances the board's skillset that will help Orogen achieve its goals."

As part of Mr. Butler's compensation, the Board has agreed to grant 500,000 incentive stock at a price of $0.33 for a period of five years. The foregoing is subject to regulatory approval.

Orogen also announces that pursuant to its news release on February 10, 2021, the Company has decided to cancel the grant of nine million incentive stock options with a price of $0.35 per share for a period of ten years.

About Orogen Royalties Inc.

Orogen Royalties Inc. is engaged in project generation for precious and base metal discoveries in western North America with a focus on organic royalty creation and royalty acquisitions. Orogen's royalty portfolio includes the Ermitaño West gold deposit in Sonora, Mexico (2% NSR) being developed by First Majestic Silver Corp. and the Silicon gold project (1% NSR) in Nevada, USA, being advanced by AngloGold Ashanti N.A. The Company is well financed with several projects actively being developed by joint venture partners.

On Behalf of the Board
Orogen Royalties Inc.

Paddy Nicol
President & CEO

Visit our website at www.orogenroyalties.com.

Orogen Royalties Inc.
1201 - 510 West Hastings Street
Vancouver, BC
Canada V6B 1L8
info@orogenroyalties.com

Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Forward looking information relates to statements concerning the Company's future outlook and anticipated events or results, as well as the Company's management expectations with respect to the proposed business combination (the "Transaction"). This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction.

Although the Company believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Orogen Royalties Inc.