BC Explorer Rallies 22% on Closing of $1.1M Royalty Option

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Thursday, June 18, 2026

Junior explorers in British Columbia's Golden Triangle are heading into peak summer drilling with copper-gold narratives still tied to major camp anchors like Teck-Newmont's Galore Creek Pre-Feasibility work. Royalty and stream monetization has become a common way for smaller holders to pull forward cash and equity without selling core ground outright, particularly when a neighboring operator is advancing a project toward resource and feasibility milestones.

Oreterra Metals Corp. (TSX-Venture: OTMC) (OTCID: OTMCF) jumped Wednesday after the TSX Venture Exchange granted final approval for, and Oreterra closed, amended royalty agreements with Enduro Metals Corporation (TSX-Venture: ENDR) covering Enduro's Newmont Lake project. The property sits adjacent to Oreterra's Trek-Andrei ground in the Golden Triangle. Under the deal, Enduro holds an option to buy down up to 50% of the 2% net smelter returns royalty Oreterra held on Newmont Lake in exchange for near-term shares and cash valued at roughly $1.1M at current market prices, plus a potential $22M in future staged cash and advance royalty payments. Oreterra retains a 1% NSR on the project.

On closing, Enduro issued 3,900,000 common shares to Oreterra and paid $175,000 in cash. To fully exercise the buy-down option over two years, Enduro must pay Oreterra aggregate cash of $550,000, including the closing payment, with up to $250,000 of the balance payable in cash or Enduro shares at Enduro's discretion. Potential future payments include $500,000 upon a maiden NI 43-101 resource estimate (with up to $300,000 potentially satisfied in Enduro shares), $1.75 million in cash plus $1.75 million as an advance royalty upon a first Feasibility Study, $10 million as an advance royalty upon a decision to proceed toward mine permitting, and a one-time $8 million payment prior to commencement of extraction to buy back 50% of the existing NSR. A second amending agreement sets a deemed floor price of $0.135 for any share consideration payable to Oreterra. Enduro's chief financial officer is also a director of Oreterra; Oreterra said disinterested directors approved the transaction.

The closing leaves Oreterra funded to advance its own Golden Triangle portfolio. The company is drilling Trek South, a porphyry copper-gold prospect southeast of Galore Creek, on a roughly 10,000 metre two-phase program fully funded after a $9.7M financing closed in March and scheduled for completion this summer. The program targets a 1.6 km wide zone of porphyry-style alteration and coincident geophysical anomalies exposed by recent glacial retreat. Oreterra also plans the first significant exploration work since 2007 at its JW porphyry prospect northwest of Galore Creek, and holds wholly owned former-producer assets in Nevada plus other royalty interests.

OTMCF shares rose 22.1% to US$0.4258 in late-morning trading Wednesday. OTMC shares on the TSX-Venture are flat. Investors will be watching for assays from the Trek South summer drill program and for staged Newmont Lake royalty payments as Enduro advances the adjacent project.

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