Prospect Ridge secures 100% interest in Camelot copper-gold project from Orogen

Group 1 - Prospect Ridge Resources has acquired a 100% interest in the Camelot copper-gold project in Canada from Orogen Royalties, with the transaction approved by the Canadian Securities Exchange on 9 September [1] - The Camelot project covers an area of 2,600 hectares in British Columbia's Quesnel Belt, known for significant copper and gold porphyry systems, and previous exploration has identified a substantial copper anomaly in the soil [1][4] - The initial payment for the project was C$25,000 (approximately $18,043), which included 243,180 shares at a deemed price of C$0.102804 per share, with a hold period until 10 January 2026 [2] Group 2 - Prospect Ridge has the option to make an additional payment of C$175,000 in cash or shares within six months of the approval date, and will issue shares under a restricted resale period expiring four months plus one day after issuance [2] - Orogen will receive a 1% net smelter return (NSR) royalty, which Prospect Ridge can reduce by 0.5% with a one-time payment of C$1 million, along with an annual advance royalty payment of C$10,000 and a one-time payment of C$30,000 upon completion of a NI-43-101 mineral resource [3] - The acquisition enhances Prospect Ridge's presence in a promising copper-gold region and complements its portfolio, with plans for a 2,000m drill program targeting a well-defined geophysical anomaly [4]