Origen Signs Definitive Agreement to Acquire a 100% Interest in Highly Prospective Gold Property in Newfoundland’s Exploits Subzone Gold Belt
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604-681-0221
www.origenresources.com
Origen Signs Definitive Agreement to Acquire a
100% Interest in Highly Prospective Gold Property in
Newfoundland’s Exploits Subzone Gold Belt
Vancouver, British Columbia , October 27 , 2020 - Origen Resources Inc. (CSE: ORGN) (the
"Company" or "Origen") is pleased to announce that it has signed a Definitive Agreement whereby it
has entered into an option to acquire a 100% interest in the 7,875 ha Middle Ridge Property located in
Newfoundland’s renowned Exploits Subzone Gold Belt from a private vendor.
Key Highlights
• Large land package in the heart of Canada’s newest prolific gold camp
• Geology is within the regional Exploits Subzone which is host to New Found Gold’s Keats Zone
gold discovery on the Queensway Project
• Originally explored in the early 1970’s for base metals with little focus on gold
• Several anomalous lake sediment samples and gold occurrences remain untested
• Under-explored due to lack of rock exposure in the region.
• Historic drilling encountered sulphide rich quartz veins that were never assayed
This large property (7,875ha) occurs near a major deep crustal fault that potentially has tapped gold
bearing hydrothermal fluids and provided a plumbing system towards the surface. Gold, silver and base
metal lake sediment anomalies identified by Noranda in the 1990s suggests a fertile gold environment .
New Found Gold's (TSXV -NFG) extensive land package containing their exciting Keats Zone gold
discovery on the Queensway Project lies approximately 50 km to the north of the property.
Between 1970 -1971 Nor anda Exploration carried out an airborne electromagnetic and magnetic survey
followed up by some ground geophysics and drilling on a portion of the property. The exploration
program was targeting Cu -Zn-Pb Volcanic hosted massive sulphides. Two diamond dril l holes were
drilled on the property one of which contained a number of sulphide rich quartz veins that were never
assayed.
"We are very pleased to have acq uired such a pro mising land package in the highly prospective Gold
Camp in Newfoundland. This acquisition along with our significant equity stake in Exploits Discovery
Inc. positions Origen as a significant player in the region.” states Blake Morgan, President.
2020 Exploration Plans
The Company's geologist s are continuing to compile the data from the ne wly acquired assets with the
goal of planning and implementing an exploration program for this year. The Company hopes to conduct
488 – 625 Howe St.
Vancouver, BC
V6C2T6, Canada
604-681-0221
www.origenresources.com
– 2 –
a search for the historic core prior to the onset of winter and if intact sample the core with specific
attention to the unsampled sulphide rich quartz vein intervals.
“This region has always been a highly prospective area geologically but due to the lack of outcrop very
few “easy” discoveries were made. Given todays advanced geophysics and geotechnical techniques we
believe that more discoveries like New Found Gold’s will be made in the area. This acquisition is another
milestone asset for the Company and is a result of its successful implementation of a project generating
business model” states Blake Morgan, President.
Middle Ridge Property Geology
Gold deposition in the Exploits Subzone is found in secondary and tertiary structures crosscutting
siliciclastic sediments bounded by the Gander River Ultramafic Belt (GRUB line). The Exploits Subzone
is a large, tectonically defined region within the Dunnage Zone in central Newfoundland.
The Exploits Subzone is characterized by where the volcanic and sedimentary rocks of the Dunnage Zone
are in structural contact with sediments of the Gander Zone along the GRUB line. The GRUB line is a
major thrust fault and marks a zone of multiple faults and shears containing dismembered ophiolitic
(ultramafic) rocks. The property skirts, and overlaps a felsic porphyry unit which in the past was the
focus of VMS exploration. Several structural windo ws of younger, folded, sedimentary rocks (Gander
Group) consisting of conglomerate, graphitic black slate, grey siltstones and sandstones are present . Fold
closures on the property are inviting targets for immediate follow-up.
J. Harrop, P. Geo., a Qualifi ed Person as defined by NI 43-101, has reviewed and approved the contents
of this news release and has verified the data disclosed herein.
Terms of the Acquisition
The Company can purchase a 100% interest by paying a total of $116,000 in cash, issuing 1,100,000
shares and incurring $750,000 in exploration over a 4 year term. The Vendor will retain a 2% NSR of
which a 1% can be purchased for CAD$1,000,000.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base and precious
metal properties. The Company currently holds a property portfolio of four 100% owned precious and
base metal projects in southern British Columbia including a 100% interest in the 26,771 ha LGM project
and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden
Triangle of British Columbia.
488 – 625 Howe St.
Vancouver, BC
V6C2T6, Canada
604-681-0221
www.origenresources.com
– 3 –
On behalf of Origen,
Blake Morgan
President
For further information, please contact Blake Morgan, President at 236- 878-4938 or Gary Schellenberg,
CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward -looking statements are subject to
numerous risks and uncertainties, certain of whi ch are beyond the control of the Company, including, but
not limited to the potential for gold and/or lithium at any of the Company’s properties, the prospective
nature of any claims comprising the Company’s property interests, the impact of general econom ic
conditions, industry conditions, dependence upon regula tory approvals, uncertainty of sample results,
timing and results of future exploration, and the availability of financing. Readers are cautioned that the
assumptions used in the preparation of suc h information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-
looking statements.