OR Royalties Inc. (OR: TSX & NYSE) has provided a comprehensive update on several key assets in its portfolio, highlighting significant progress at the Island Gold District, Dalgaranga, Glenburgh, and the Eagle Gold Mine, among others. The company also announced the strategic sale of its non-core equity position in Osisko Metals Incorporated, generating approximately $34.8 million in net proceeds.
Island Gold District (Alamos Gold Inc.)
The Phase 3+ expansion at the Island Gold District continues to advance. Underground throughput is targeted to increase from 1,400 tonnes per day (tpd) in Q1 2026 to 2,000 tpd by year-end 2026, following the completion of the underground shaft. A further ramp-up to 2,400 tpd is expected in early 2027. An updated mine plan released in February 2026 reflects a 30% larger Proven and Probable Mineral Reserve for Island Gold Underground, totaling 5.1 million ounces of gold (15.0 million tonnes grading 10.6 g/t Au). This expanded plan is anticipated to shift a greater proportion of production into OR Royalties' higher royalty boundaries of 2.0% and 3.0% net smelter return (NSR).
Dalgaranga (Ramelius Resources Ltd.)
First ore from the high-grade Never Never deposit at Dalgaranga was delivered to the Mt Magnet processing plant in March 2026, approximately one month ahead of schedule. First high-grade ore processing remains on track for the June 2026 quarter. Strong exploration results from Gilbey's Underground were released on April 22, 2026. OR Royalties expects to receive its first royalty payment under the 1.44% gross revenue (GR) royalty in early May 2026.
Glenburgh (Benz Mining Corp.)
A fully-funded 250,000-meter drill program is underway at Glenburgh, targeting the Hurricane, Icon, and Thunderbolt camps. A new high-grade discovery corridor was announced on April 9, 2026, at Hurricane, along with the ultra-high-grade Kilkenny discovery at Mt Egerton, which could serve as a future satellite feed source for Glenburgh. OR Royalties holds a 1.08% GR royalty on both Glenburgh and Mt Egerton. Glenburgh sits on a granted Mining Lease, allowing for potential accelerated development.
Bralorne (Talisker Resources Ltd.)
Talisker closed a C$52.1 million bought-deal financing in March 2026 and increased its 2026 diamond drill program from 30,000m to 105,000m. Underground face sampling at the Mustang Mine intersected a continuous 60m strike length averaging 27 g/t Au over 0.85m. A Technical Report with a Mineral Resource Estimate and Preliminary Economic Assessment is expected in Q2 2026. OR Royalties holds a 1.7% NSR royalty on Bralorne.
Shaakichiuwaanaan (PMET Resources Inc.)
The Environmental and Social Impact Assessment for Shaakichiuwaanaan was submitted to provincial and federal authorities on April 1, 2026. The Final Investment Decision remains targeted for H2 2027, subject to market conditions. OR Royalties holds a sliding-scale 1.5-3.5% NSR royalty on precious metals and 2.0% on lithium and other products. Approximately 80-95% of CV5 Mineral Reserves are estimated to fall within OR Royalties' 2.0% lithium royalty area.
Wharekirauponga (OceanaGold Corporation)
High-grade drill results from Wharekirauponga were announced on April 1, 2026, including 14.9m at 16.3 g/t Au from 466.5m, 5.4m at 25.8 g/t Au from 483.4m, and 5.5m at 24.1 g/t Au from 623.6m. Two additional drill rigs will be added in Q2 2026, bringing the total to five. OR Royalties holds a 2.0% NSR royalty on WKP.
Eagle (PricewaterhouseCoopers LLP, Receiver)
On April 23, 2026, the Receiver entered into an exclusivity agreement with Boroo Pte Ltd., a Singapore-based private mining company, to negotiate a potential acquisition and restart of the Eagle Gold Mine in the Yukon. Boroo has been granted an initial 90-day exclusivity period, extendable up to 180 days, and will engage with the Yukon Government and the First Nation of Na-Cho Nyäk Dun. OR Royalties holds a 5.0% NSR royalty on Eagle.
Strategic Share Sale
In mid-April 2026, OR Royalties sold its entire remaining non-core equity position in Osisko Metals Incorporated, generating approximately $34.8 million in net proceeds. This strategic move aligns with the company's focus on its core royalty portfolio.
