High-grade drilling confirms significant expansion opportunity along proven gold trend

Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) announces major exploration success at the Musselwhite Mine in northwestern Ontario, with drilling confirming a potential two-kilometre extension of the mine’s main gold trend beyond current resources.

Key Discovery Highlights: 

• Mine Trend Extension Confirmed: Deep directional drilling has intersected high-grade gold mineralization 1.6 kilometres along strike from current operations, including 4.1 metres at 15.1 g/t Au with visible gold observed. Favourable geology continues an additional 400 metres, suggesting the trend may extend up to two kilometres beyond existing resources.
• Underground Resource Growth: High-grade intersections in active mining areas support ongoing resource replacement and expansion efforts, including 10.1 metres at 27.2 g/t Au and 15.7 metres at 6.89 g/t Au.
• Near-Mine Satellite Potential: Surface drilling within 10 kilometres of the mill has identified multiple targets for potential open-pit satellite deposits, advancing medium-term feed sources.

Strategic Significance:

Musselwhite has produced over 6 million ounces of gold during its 28-year operating history and currently hosts 1.5 million ounces of proven and probable reserves. These exploration results indicate substantial potential to extend mine life and increase production from one of Canada’s longest-operating gold mines.

“These results validate our investment thesis for Musselwhite – this is a rare, high-quality asset with the geological continuity to support decades of additional production. We’ve confirmed high-grade mineralization extends far beyond current resources, positioning us for significant resource growth.”

–          Sylvain Guerard, Orla’s Senior Vice President, Exploration

$25 Million Exploration Program Delivering Results:

Following Orla’s acquisition from Newmont Corporation in February 2025, the Company launched an aggressive two-year exploration program designed to accomplish the following:

1. Test Mine Trend Extensions: Deep directional surface drilling to test the down-plunge extension of the Mine Trend one kilometre beyond historical surface drilling (11,000 metres).
2. Replace and Expand Underground Resources: Underground drilling for reserve, resource, and inventory definition to support production and growth (38,000 metres).
3. Identify Satellite Deposits: Near-mine surface drilling to evaluate targets for potential shallow open-pit satellite deposits within a 10 km-radius of the mill (6,500 metres).

The 2025 program is approximately 65% complete, with drilling continuing through year-end using four surface and four underground diamond rigs. The program is focused on defining the extent and continuity of mineralization across priority zones, particularly along the Mine Trend extension, with the objective of establishing sufficient geological confidence to consider opportunities that increase annual gold production.

Deep Directional Drilling Update

Orla’s 2025 deep directional drilling program at Musselwhite began in late May with three rigs and is targeting the northwest extension of the Mine Trend within an iron formation. Each mother hole will support two drill sections, spaced 200 and 400 metres apart in 2025, moving to consistent 200–metre spacing in 2026. Each section will include at least five daughter holes, with about 50 metres of vertical separation in one section.

In 2025, daughter holes are designed to test mineralization 400, 600, and 1,000 metres along strike from historical drilling, and 1,400, 1,600, and 2,000 metres from the current resource boundary (Figures 2–4a). To date, 8,000 of the planned 11,000 metres have been drilled, with results reported from the first four holes of an approximate 30-hole program.

Mother-Hole #1: Musselwhite Mine Trend Intersected

In late July, the first mother hole (25-NSD01-001) intersected the Mine Trend’s favourable geological sequence, including the main target zone over a 7.9 metre interval from 2,014 to 2,022 metres (approximately 1,835 metres below surface), demonstrating continuity of the highly strained banded iron formation and quartz-pyrrhotite veining typically associated with gold mineralization (Figure 4b). The geology and gold mineralization encountered are both favourable and encouraging, suggesting that the Mine Trend, potentially hosting higher grades and wider intercepts typical of the Musselwhite Mine, may be encountered at greater depths along the section as additional daughter holes are completed. Most notable assay results include:

• Hole 25-NSD01-001: 0.7 metres at 8.04 g/t Au and 0.3 metres at 12.6 g/t Au.

Daughter-Hole #1: Mine Trend Intersected

In August, the first daughter hole (25-NSD01-002W), drilled about 40 metres below the first mother hole, intersected the Mine Trend. The target zone was intercepted over a 6.7-metre interval between 2,026 and 2,033 metres depth (approximately 1,875 metres below surface) (Figure 4b). Most notable assay results include:

• Hole 25-NSD01-002W: 1.2 metres at 4.18 g/t Au, including 0.7 metres at 5.22 g/t Au.

Mother-Hole #2: Mine Trend Intersected, High Grade (Visible Gold) Encountered

In early September, the second mother hole (25-NSD02-001) intersected the Mine Trend over an 18.8-metre interval between 2,096 and 2,115 metres depth (about 1,895 metres vertically from surface), with visible gold observed (Figure 4c).

The second mother hole returned high-grade gold, confirming the Mine Trend continues down plunge (Table 1, 2). The results from this hole and from mother-hole #1 build confidence in finding wider high-grade zones of gold mineralization typical of Musselwhite, as drilling progresses. Most notable assay results include:

• Hole 25-NSD02-001: 4.1 metres at 15.1 g/t Au (from 2096.8 to 2100.9 m), including 0.3 metres at 21.0 g/t Au, 0.3 metres at 20.4 g/t Au, 0.4 metres at 19.3 g/t Au, and 0.5 metres at 19.0 g/t Au

Table 1: Mother-Hole #2 Target Zone Detailed Intersection

Mother-Hole #3: Favourable Mine Trend Geology Intersected

In mid-September, the third mother hole (25-NSD03-001) intersected the Mine Trend geology, including the target zone iron formation, over a 7.9 metre core length, from 2,296 to 2,304 metres (approximately 2,080 metres from surface) (Figure 4d). Assays are pending.

Remaining 2025 Drilling

The target zones for the remaining daughter holes planned for 2025 are expected to be reached by year-end, with assay results anticipated in late 2025 and early 2026. The 2026 program is expected to include additional drilling from the existing mother holes, targeting 200-metre spacing between sections to help establish new mineralization on the extension of the mine. Future drilling is also expected to test the potential extension from two to three kilometres beyond the current Musselwhite resource and reserve area.

Underground Drilling Update

The underground drilling program, initiated in early March 2025, has drilled 19,100 metres across 76 holes. Assay results have been received for 37 of the 76 holes, with drilling efforts primarily concentrated on the Redwings, Lynx, and PQE zones (Figure 5, 6, 7; Table 3).

High-grade mineralization has been intersected in multiple holes, reinforcing geological continuity within known zones and identifying promising extensions. These drill results support ongoing efforts to replace and expand resources and reserves, underscoring the potential for continued growth and long-term mine life extension. Notable intercepts include:

Redwings Zone

• 15.7 metres at 6.89 g/t Au (11.7 m true width) (25-RDW-027)
• 6.2 metres at 12.2 g/t Au (4.1 m true width) (25-RDW-024)
• 15.1 metres at 6.68 g/t Au (13.2 m true width) (25-RDW-025)
• 16.0 metres at 6.3 g/t Au (11.8 true width) (25-RDW-037)

Lynx Zone

• 13.0 metres at 15.8 g/t Au (13.0 m true width) (25-LNX-002)
• 10.1 metres at 27.2 g/t Au (6.7 m true width) (25-LNX-003)
• 7.4 metres at 9.87 g/t Au (7.3 m true width) (25-LNX-004)

PQE Zone

• 1.0 metre at 67.8 g/t Au (0.9 metres true width) (25-PQE-011)
• 2.9 metres at 14.0 g/t Au (2.1 m true width) (25-PQE-009)

Near-Mine Exploration

Near mine surface exploration was previously focused on two nearby zones – Camp Bay and Karl Zeemal, which were identified as having open-pit potential. Evaluations to potentially advance both zones into resource categories are underway. Orla’s 2025 near-mine surface drill program, which began in early June, is targeting extensions of these zones and following up on other significant intersections near the operation.

To date, 5,500 metres have been drilled from surface across the Camp Bay, Bottenfield, Karl Zeemal, and Midway targets, all located within a 10-kilometre radius of the Musselwhite mine and mill (Figure 1, 8, 9, 10; Table 4). Camp Bay and Bottenfield are linked to historical banded iron formation drill intersections and gold occurrences in grab samples, while Karl Zimmel and Midway are located along the southern extension of the Mine Trend.

Only part of the planned near-mine drill holes has been completed at some targets (e.g., Camp Bay), with the remainder deferred to winter 2026 to allow access over frozen ground. Several of these planned holes are designed to test extensions of significant historical intersections, such as 22.7 metres at 5.28 g/t Au in Hole 0030 at Camp Bay (Dome Exploration, 1976). It is hoped that the planned program will provide meaningful insights into the continuity and potential of the mineralized zones.

Notable intercepts received to date include:

Camp Bay:

• 2.7 metres at 2.59 g/t incl. 0.6 m at 6.07 g/t Au at 9.20 metres downhole (25-CMP-001)
• 14.7 metres at 0.74 g/t Au incl. 0.3 m at 7.11 g/t Au and 0.3 m @ 6.59 g/t Au at 18.7 metres downhole (25-CMP-002)

True width of Camp Bay intercepts is uncertain due to insufficient geological control on orientation of gold mineralization.

Bottenfield:

• 14.6 metres at 0.58 g/t Au at 150.7 metres downhole (25-BOT-001)
• 12.0 metres at 0.46 g/t Au (true width ~11.1 metres) at 223 metres downhole (25-BOT-003)

True width of 25-BOT-001 intercept uncertain due to insufficient geological control on orientation of gold mineralization.

Karl Zeemal:

• 4.4 metres at 1.37 g/t Au at 26.7 metres downhole and 1.4 metres at 2.44 g/t Au at 52.4 metres downhole (25-KAZ-003)

True width of Karl Zeemal intercept uncertain due to insufficient geological control on orientation of gold mineralization.

Next Steps and Outlook

Remaining 2025 Program: Additional daughter holes from existing mother holes are expected to reach target zones by year-end, with assay results anticipated in the fourth quarter 2025 and the first quarter 2026.

2026 Planning: The program is expected to include infill drilling at 200-metre spacing to establish high-confidence inventory and test potential extensions up to three kilometres from current resources.

Resource Growth: With greater confidence in expansion potential, Musselwhite will be positioned to pursue opportunities that increase throughput, enhance gold production, and extend mine life significantly beyond current projections.

Additional Technical Information

All mineralized interval lengths reported are down-hole intervals, with true width estimates ranging from 30-100% for the reported interval. True widths are not estimated in cases where there is insufficient geological control on gold mineralization. See Tables 1 to 3 in the Appendix of this news release for estimated true widths of individual composites. A minimum sampling length of 0.30 m is used for both underground and surface drilling. The reported composites were not subject to “capping” of high grades. Orla believes that applying a top cut would have a negligible effect on overall grades.

Qualified Persons Statement     

The scientific and technical information in this news release has been reviewed and approved by Mr. Sylvain Guerard, P Geo., SVP Exploration of the Company, who is the Qualified Person as defined under the definitions of National Instrument 43-101.

To verify the information related to the 2025 drilling program at the Musselwhite property, Mr. Guerard has visited the property in September 2025, discussed logging, sampling, and sample shipping processes with responsible site staff, discussed and reviewed assay and QA/QC results with responsible personnel, and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations.

Quality Assurance / Quality Control – 2025 Drill Program and Historical Drilling

Gold results at Musselwhite were obtained at ALS Canada Inc. or SGS Canada Inc. using fire assay fusion and an atomic absorption spectroscopy finish (ALS: Au-AA23, SGS: GE_FAA30V5). If samples returned gold values greater than 10 ppm, samples are re-run with gold by fire assay and gravimetric finish (ALS: Au-GRA21, SGS: GO_FAG30V). Gold results were also obtained at ALS using PhotonAssay^TM on two aliquots of 500 g of crushed sample (ALS: Au-PA01).

Drill program design, Quality Assurance/Quality Control and interpretation of results were performed by qualified persons employing a QAQC program consistent with NI 43-101 and industry best practices. For Fire Assay analyses, standards were inserted at a frequency of four in every 100 samples.

ALS and SGS are both independent of Orla. ALS is an ISO-17025 accredited laboratory for photon assay methods. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the drilling data at Musselwhite.

For additional information on Musslewhite, see the Musselwhite Report (as defined below) and the Company’s press release dated April 1, 2025 (Orla Mining Launches $25M Exploration Drilling Program to Expand Reserves and Resources and Extend Musselwhite Mine Trend).

Historical drill results at Musselwhite were completed by Goldcorp. Inc. and/or Newmont, the prior owners of the project. The Company’s independent qualified person, DRA Americas, Inc. was of the opinion that the drilling and sampling procedures for Musselwhite drill samples by Goldcorp and Newmont were reasonable and adequate for the purposes of the Musselwhite Report, and that the Goldcorp and Newmont QA/QC program met or exceeded industry standards. See the Company’s NI 43-101 technical report for the project entitled “Technical Report – Musselwhite Mine Project, Ontario, Canada” with an effective date of November 18, 2024 (the “Musselwhite Report”) for additional information.

The underground mineral reserve estimate for Musselwhite consists of 892 koz gold of proven reserves (4,148 k tonnes at 6.69 g/t gold) and 635 koz gold of probable reserves (3,234 k tonnes at 6.10 g/t gold). The mineral reserve estimate has an effective date of December 31, 2024.

About Orla Mining Ltd.

Orla’s corporate strategy is to acquire, develop, and operate mineral properties where the Company’s expertise can substantially increase stakeholder value. The Company has three material projects, consisting of two operating mines and one development project, all 100% owned by the Company: (1) Camino Rojo, in Zacatecas State, Mexico, an operating gold and silver open-pit and heap leach mine. The property covers over 139,000 hectares which contains a large oxide and sulphide mineral resource, (2) Musselwhite Mine, in Northwestern Ontario, Canada, an underground gold mine that has been in operation for over 25 years and produced over 6 million ounces of gold, with a long history of resource growth and conversion, and (3) South Railroad, in Nevada, United States, a feasibility-stage, open pit, heap leach gold project located on the Carlin trend in Nevada. The technical reports for the Company’s material projects are available on Orla’s website at www.orlamining.com, and on SEDAR+ and EDGAR under the Company’s profile at www.sedarplus.ca and www.sec.gov, respectively.