Taguas Resource Estimate Increases To 2.6 Million Gold Equivalent Ounces

TORONTO - Orvana Minerals Corp. has updated the Mineral Resource Estimate of its Taguas Project, located in San Juan Province, Argentina. Taguas consists of 15 mining concessions over an area of 3,273.87 ha. "With Orvana's Exploration Team on delivering this highly successful outcome for the Taguas Project, we are extremely pleased to be establishing the foundation of a new operation for the Company" said, Juan Gavidia, CEO. "Developing the first million AuEqOz, as low cost oxides, with additional sulfides in later years, makes Taguas a long term high value creation asset for Orvana.

"Predictable operations and results-oriented exploration, are strategic strengths of Orvana that focus on steady production and continued growth. These strengths will continue to be enhanced for the long term benefit of our shareholders. When taken together with the stabilized production at Orovalle, the development of Taguas will diversify risk and increase the future production profile of Orvana,” said, Gavidia.

The updated Mineral Resource Estimate disclosed herein includes both oxide and sulphide ore of three areas: Cerro Taguas, Cerro Silla Sur and Cerro Campamento, and is the result of drilling programs completed between 1985 and 2021.