OR Royalties Acquires $28M Precious Metals Stream on Canadian Copper's New Brunswick Assets

OR Royalties Secures Major Precious Metals Stream on Canadian Copper's New Brunswick Mining Properties

MONTRÉAL, April 14, 2026 – In a significant development for the North American mining sector, OR Royalties Inc. ("OR Royalties") has announced a binding agreement to acquire a substantial precious metals stream on Canadian Copper Inc.'s assets in New Brunswick, Canada. The transaction, valued at $28.0 million in United States dollars, represents a strategic expansion for OR Royalties within a premier mining jurisdiction.

Transaction Overview and Strategic Significance

The agreement establishes a precious metals stream on Canadian Copper's New Brunswick assets, which encompass the Murray Brook properties and the Caribou property, including the Caribou Processing Plant. Collectively referred to as the Project, these brownfield assets are situated in the historically productive Bathurst Mining Camp of New Brunswick. OR Royalties classifies Canada as a Tier-1 mining jurisdiction, alongside the United States and Australia, highlighting the transaction's strategic importance in a stable and well-regulated environment.

The acquisition is notable for several key reasons:

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• Accelerated Development Path: The brownfield nature of the 100%-owned Murray Brook deposit and the previously operational, permitted Caribou Complex is anticipated to facilitate a faster permitting and development timeline. First production from the integrated Project is currently projected for 2029.
• Secured Construction Financing: Concurrently, a $35.0 million concentrate prepayment facility provided by Ocean Partners UK Limited ensures the full construction financing required to advance the Project to commercial production, de-risking the development phase.
• Enhanced Growth Profile: This transaction is expected to contribute gold equivalent ounces (GEOs) that exceed OR Royalties' previously disclosed 2030 five-year outlook range of 120,000-135,000 GEOs, reinforcing the company's peer-leading growth trajectory.
• Precious Metals Focus: The stream is composed entirely of silver and gold, allowing OR Royalties to deepen its exposure to these key precious metals within its portfolio.

Detailed Terms of the Precious Metals Stream

The financial and operational structure of the stream involves specific commitments and conditions designed to align the interests of both parties and ensure project advancement.

1. Upfront Deposit: OR Royalties will provide Canadian Copper with total cash proceeds of $28.0 million. This includes an initial payment of $5.0 million upon closing of the transaction, followed by $23.0 million to be funded quarterly in alignment with the Project's construction budgets.
2. Streamed Metal Deliveries: For the life of the mine, Canadian Copper will deliver to OR Royalties refined silver and gold equal to 20% of the payable silver and gold contained in concentrate or any other product produced from the Project, based on a 100% ownership basis.
3. Production Payments: Upon delivery, OR Royalties will purchase the refined silver and gold at a price set at 20% of the prevailing spot price for each ounce delivered.
4. Funding Conditions: The release of the construction installment payments is contingent upon Canadian Copper achieving customary project milestones. These include obtaining all material environmental permits, securing necessary First Nations approvals, and receiving a formal construction decision from its Board of Directors.
5. Security Package: The agreement includes a comprehensive security package for OR Royalties, featuring full-recourse corporate guarantees and a first-ranking security interest over the Project and all other assets of Canadian Copper. This security is shared equally (pari passu) with the prepayment facility from Ocean Partners.
6. Area of Interest: The stream applies to production from the combined Murray Brook and Caribou properties, as well as any future contiguous or complementary claims that Canadian Copper or an affiliate may own or control, ensuring the agreement covers potential expansions of the operational area.

This transaction underscores OR Royalties' ongoing strategy to build a high-quality portfolio of streaming agreements in top-tier jurisdictions, while providing Canadian Copper with the capital necessary to reactivate and develop its significant New Brunswick assets. The partnership leverages the existing infrastructure at the Caribou Complex to potentially shorten the path to production, contributing to the economic activity in the region and the broader Canadian mining industry.