ORVANA REPORTS Q1 FY2026 PRODUCTION AND EXPLORATION RESULTS; AND PROVIDES UPDATE ON OXIDES STOCKPILE PROJECT AT DON MARIO, BOLIVIA

Core Viewpoint - Orvana Minerals Corp. reported strong operational performance in Q1 FY2026, with increased gold production and advancements in exploration projects, particularly at the Don Mario operation in Bolivia and the Taguas Project in Argentina [2][6]. Q1 FY2026 Production Highlights - Total production for Q1 FY2026 was 10,576 Gold Equivalent Ounces, comprising 9,308 gold ounces, 0.7 million copper pounds, and 31,007 silver ounces [6][8]. - Orovalle, the Spanish unit, accounted for 100% of the production during the quarter [6]. - The mill processed approximately 129,622 dry tonnes, which is 28% higher than the previous quarter [9]. - Gold production increased by 47% compared to the previous quarter, primarily due to a 28% increase in tonnes milled and a 13% increase in gold grade [9]. Exploration Updates - The exploration program at the Taguas Project is progressing as scheduled, with a geophysical survey completed over a 4 km² area of interest [6][8]. - The company plans to drill approximately 4,500 metres through April 2026, targeting areas with potential copper-gold porphyry indicators [6][8]. - Infill and brownfield drilling at El Valle Boinás totaled 3,337 metres, confirming the continuity of mineralized bands [11][12]. Oxides Stockpile Project - The Don Mario Plant expansion is advancing, with initial doré production expected to commence in February 2026, subject to the completion of ongoing performance verification activities [6][9]. - The copper circuit construction is now anticipated to be completed by mid-March 2026, following delays in material delivery [9]. - The company is enhancing desorption and smelting processes for gold and silver, expecting completion in January 2026 [6][9]. Financial Performance - Average market prices for Q1 FY2026 were $4,141.90/oz for gold, $54.71/oz for silver, and $5.03/lb for copper, reflecting significant increases compared to previous quarters [10]. - The company plans to release consolidated operational and financial highlights for Q1 FY2026 in mid-February 2026 [23].