OroValle Exploration Continues With Positive Results

TORONTO - Orvana Minerals Corp. CEO, Juan Gavidia, said, "While we are on track to deliver on our production guidance for fiscal 2021, we are also pleased to report that exploration at OroValle continues to produce positive results, enhancing our current 5-Year Life-of-Mine Plan. OroValle's future has never looked brighter. Completing Orvana's big picture, we look forward to updating shareholders with exploration results at our in-development Taguas Project in Argentina, and with metallurgical testing programs completion at EMIPA, Bolivia, over the next upcoming quarters."

OroValle/El Valle (The El Valle-Boinas/Carles) Project is located in the Rio Narcea Gold Belt in Northern Spain, near the port city of Aviles. This area was mined by the Romans about 2,000 years ago. Modern gold exploration commenced at the EVBC Mines area during the 1970s and over the next 20 years companies like Anglo American and Goldfields evaluated the gold potential with drilling and underground exploration drifts. Rio Narcea Gold Mines (“RNGM”) mined gold by open- pit methods from 1997 until 2004, at which time underground mining began. The mine closed in 2006 after producing approximately 950,000 ounces of gold and over 20,000 tonnes of copper. In 2007, RNGM sold the EVBC Mines to Kinbauri Gold. The Company acquired the EVBC Mines and infrastructure in 2009, excluding certain environmental liabilities, as a result of its acquisition of Kinbauri Gold.