34.7 m at 2.68 g/t Au, incl. 13.6 m at 5.85 g/t (Oxide) – Dark Star
55.2 m at 1.04 g/t Au incl. 11.3 m at 2.86 g/t Au (Oxide) – Pinion
65.5 m at 1.16 g/t Au, Incl. 10.7m at 2.60 g/t Au (Oxide) – Bowl

Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) is pleased to provide additional exploration results from the 2024 South Carlin Complex program along with permitting progress for the South Railroad Project.

Highlights:

• Dark Star and Pinion project targets (Central Area): Multiple high-grade intersections within and beyond the feasibility study open pits demonstrate clear potential to expand resources and reserves at Dark Star and Pinion.
• Oxide targets (South Area): Shallow drilling along soil geochemistry anomalies has revealed extensive gold-bearing structural trends highlighting significant potential to expand oxide resources to support the future heap leach operation.
• Sulphide targets (North Area): Drill holes testing the extension of the North Bullion deposit, as well as Skarn-type targets returned significant mineralization, setting the stage for high-priority follow up drilling.
• Ambitious 2025 exploration program planned with $15 million investment to accelerate resource growth and new discoveries at South Carlin Complex.
• Significant permitting advances and water rights secured for the South Railroad Project.
• South Carlin Resource & Reserve estimate and Technical Report update expected to be completed in the second half of 2025.
• Considerable project advancement with awarding of Engineering, Procurement, and Construction Management (EPCM) contract to M3 Engineering & Technology Corp., and commencement of basic engineering.

“The South Railroad Project has exceeded our expectations since its acquisition in 2022 and subsequent expansion in 2024, which formed the larger the South Carlin Complex. Each drilling campaign has not only validated our geological model but also uncovered new high-grade and near-surface oxide mineralization across multiple targets. These excellent results strengthen our confidence in the untapped potential of the South Carlin Complex, supporting long-term resource growth and positioning it as an emerging Nevada gold district with significant potential for sustainable value creation.”

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

Dark Star Deposit – Extending oxide gold mineralization 75m down dip and 85m along strike

Additional drilling near the Dark Star deposit returned significant oxide results. Drillhole DSC24-02 returned 2.68 g/t Au (Ox) over 34.7 m including 5.85 g/t Au over 13.6 m (Ox), confirming the continuity of significant oxide mineralization between the projected open pit an     d previously reported results of 0.67 g/t Au over 45.7 m (Ox) including 1.24 g/t Au over 12.2 m (Ox) located approximately 100 m to the NE (see October 31, 2024 news release; Figure 3, 4, and 5).

Drilling on the west side of the southern open pit intersected narrower, lower-grade oxide-hosted gold mineralization (e.g., 1.41 g/t Au over 7.1 m (Ox)), confirming that mineralization extends westward. In 2025, Orla intends to continue focusing on defining the continuity of wider, higher-grade gold mineralization below the northern Dark Star open pit.

Pinion Deposit – Enhancing oxide gold mineralization

Recent drilling at the Pinion Deposit focused on the southeast extension, yielding higher-grade results than adjacent historical holes, including 1.04 g/t Au over 55.2 m (Ox), with 2.86 g/t Au over 11.1 m (Figure 6). These results reinforce the mineral resource growth potential and enhance the continuity of oxide gold mineralization in the southeast extension. In addition to exploration drilling, water wells were drilled to support the permitting process, with assay samples collected during drilling. Two water holes completed within the known deposit returned significant in-pit results, including PRMW24-03A: 60.0 m at 1.68 g/t Au, including 4.6 m at 13.67 g/t Au. These assay results confirm and align with historical drill hole results while also underscoring the potential to define local controls on higher-grade mineralization within the Pinion Deposit.

Shallow Oxide Mineralization (South Area):

Gold deposits across the broader Railroad District are controlled by northwest-southeast and north-south structures and their intersections. From Jasperoid Wash to the southern property boundary (the South Area), anomalous gold-in-soil geochemistry defines a network of these auriferous structures, with a cumulative strike length of 15 km (Figure 7). The 2024 exploration program drill tested these soil anomalies, returning shallow oxide intersections, in some cases starting from surface. These results confirm the association between gold-in-soil anomalies and auriferous structures while also suggesting significant potential for oxide resource growth in the South Area.

Jasperoid Wash Extension: A series of holes drilled east of the main north-south Jasperoid Wash deposit intersected positive shallow oxide mineralization, indicating potential for a pit extension. Notable drill highlights include 30.5m at 0.40 g/t Au (oxide) from 1.5 meters (Hole JW24-11) and 39.6m at 0.25 g/t Au (oxide) from 0.0 meters (Hole JW24-07) down holes.

New shallow oxide drill intersections from the Robinson, Stallion-Bowl Trend, Mustang, and Appaloosa targets reinforce the relationship between auriferous structures and gold-in soil anomalies. Orla is encouraged by these early exploration results which highlight further potential for oxide resource growth. Orla intends to continue testing the South Area in 2025.

At the Bowl Zone, one hole (BW24-01) was drilled within the Bowl Deposit, located within the recently acquired Pony Creek property. The drilling was conducted to gain fresh insights into the geology, level of oxidation, and the control and style of mineralization. The results were highly positive, exceeding expectations, with an intersection of 65.5 m at 1.16 g/t Au, including 10.7 m at 2.60 g/t Au and 7.6 m at 2.13 g/t (Ox, Figure 8)). This new intersection has reinforced Orla’s confidence in the quality of the deposit and the potential to add additional oxide resources by testing potential open extensions to the northwest and southeast. Follow-up drilling at the Bowl Zone is planned as part of the 2025 program.

North Bullion Deposit Extension and Skarn Targets (North Area)

Three holes were completed at North Bullion to provide key information supporting the continuity of shallow sulphide mineralization Hole RR24-03 intersected 41.1 m at 1.89 g/t Au (Sx), including 21.3 m at 2.28 g/t Au, within the resource’s open pit. This result enhances confidence in the extent and continuity of the shallow sulphide mineralization. Exploration drilling, consisting of step-outs along the northwest trend controlling high-grade sulphide gold mineralization, is planned for 2025. Positive results from the planned step-out holes hope to significantly expand the extent of the mineralized zone and confirm resource growth potential.

Approximately three kilometres southwest of North Bullion, polymetallic skarn mineralization was intersected in one of three holes completed in the Skarn target area. Field work – including geochemical rock sampling, geological mapping, and geophysical survey interpretation – led to the definition of a high-priority skarn target. This target is supported by multiple recent high-grade surface rock samples, with individual samples returning grades up to 24% copper, 790 g/t silver (one over limit assay >1,500 g/t Ag pending), 9.4% zinc and 5.8% lead (one over limit assay >20% Pb pending) over a well-defined 900 metre x 600 metre alteration zone with sulphide minerals (bornite, chalcocite, sphalerite and pyrrhotite) in outcrop, overlying a high magnetic anomaly (Figure 9). The coincident alteration footprint, sulphide minerals and magnetic anomaly suggest potential to define copper skarn mineralization. Drilling to further test this target is planned for 2025.

2025 Exploration Drill Programs

Orla’s 2024 South Carlin exploration program totaled 19,009 metres of drilling. For 2025, the Company plans to maintain an active exploration program with a $15 million program to include the following activities:

1. 10,000 metres of drilling focused on near-deposit targets (Dark Star and Pinion), aiming to expand resources and potentially extend the projected open pits.
2. 8,000 metres of drilling targeting the northern (Pod-Sweet Hollow, North Bullion) and southern (Jasperoid Wash, Robinson, Bowl) areas to define new shallow oxide gold mineralization.

South Railroad Project Update

The South Railroad Project, situated on federal land, is currently advancing under the guidance of the US Bureau of Land Management in accordance with the National Environmental Policy Act for permitting. The Environmental Impact Statement contractor is finalizing the Supplemental Environmental Reports required by the BLM prior to issuing the Notice of Intent (NOI).  The Company anticipates all SERs will be finalized in the first quarter 2025.

The NOI is expected to be published in the first half of 2025, with the Company targeting a Record of Decision (final permitting decision) by mid-2026. Following this approval, construction on the South Railroad Project would commence, with first gold production anticipated in 2027.

The Company has a comprehenisve water strategy and has begun securing consumptive water rights required for the Project.  The Company also has a strategy to meet the sage grouse mitigation requirements under the State of Nevada Sagebrush Ecosystem Program (SEP).

At the state level, the Company has received Class I and II Air Operating Permits. Applications have been prepared for the Water Pollution Control Permit and the National Pollutant Discharge Elimination System discharge permit, which will be submitted after the NOI in 2025.

The Engineering, Procurement, and Construction Management contract has been awarded to M3 Engineering & Technology Corp. Basic engineering has commenced and will proceed throughout 2025 and 2026 to support the start of construction following the Record of Decision. Long-lead equipment will be identified, with purchase orders potentially beginning in 2025.

Qualified Persons Statement

The scientific and technical information in this news release with respect to the 2024 drilling programs has been reviewed and approved by Mr. Sylvain Guerard, P Geo., SVP Exploration of the Company, and with respect to permitting matters has been reviewed and approved by Mr. Andrew Cormier, Chief Operating Officer of the Company, each of whom is a Qualified Person as defined under the definitions of National Instrument 43-101.

To verify the information related to the 2024 drilling programs at the South Railroad property, Mr. Guerard has visited the property in the past year; 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 –2024 Drill Program

Gold results from 2024 drillholes at the South Carlin Complex were obtained by fire assay fusion and absorption emission finish (FA430) at Bureau Veritas Mineral Laboratories in Sparks, Nevada, USA. Over limit gold assays were determined using fire assay fusion with gravimetric finish (FA530). Gold cyanide extraction was determined using a 1-hour cyanide leach (CN403) conducted in either Sparks, Nevada, or Hermosillo, Mexico. All other elements were determined by 4-acid dissolution with ICP-OES+MS method (MA200).

Quality Assurance/Quality Control and interpretation of results were performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Certified reference material (standards), blank, or rig duplicate were inserted approximately every tenth sample for Quality Assurance/Quality Control purposes by the Company. Bureau Veritas Mineral Laboratories is independent of Orla. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the drilling data at the South Carlin Complex.

True width of a composites depends on sufficient geological information to determine orientation of mineralization. The true width in Pinion ranges from 70 to 98% of core length. At Dark Star true width ranges from 54% to 66% of core length. True width in Jasperoid Wash ranges from 66 to 99%. The true width of the mineralization in Skarn, Pony Creek intercepts cannot be estimated based on current information.

For additional information on the Company’s previously reported drill results, see the Company’s press releases dated February 8, 2023 (Orla Mining Drills Significant Gold Intersections at Multiple Oxide Targets upon Reactivation of Exploration at South Railroad Project, Nevada), March 7, 2024 (Orla Mining Drills Oxide Mineralization Outside Projected Open Pits at South Railroad Project in Nevada), April 4, 2024 (Orla Confirms Strong Carlin-Type Gold Mineralization at North Bullion Deposit and Defines New Drill Targets across the South Railroad Project) and October 31, 2024 (Orla Provides Exploration and Permitting Update at South Railroad Project). For additional information on South Railroad, see the technical report entitled “South Railroad Project, Form 43-101F1 Technical Report Feasibility Study, Elko County, Nevada” dated March 23, 2022, which is 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. For additional information on the Pony Creek Project, or additional information, please see Contact Gold Corp.’s (“Contact”) technical report for Pony Creek entitled “Technical Report and Maiden Mineral Resource Estimate, Pony Creek Property, Elko Country, Nevada, USA” with an effective date of February 24, 2022, available on Contact’s profile on SEDAR+ at www.sedarplus.ca.

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 two material gold projects: (1) Camino Rojo, located in Zacatecas State, Mexico and (2) South Railroad, located in Nevada, United States. Orla is operating the Camino Rojo Oxide Gold Mine, a gold and silver open-pit and heap leach mine. The property is 100% owned by Orla and covers over 139,000 hectares which contains a large oxide and sulphide mineral resource. Orla is also developing the South Railroad Project, a feasibility-stage, open pit, heap leach gold project located on the Carlin trend in Nevada. Orla has also entered into a definitive agreement with a subsidiary of Newmont Corporation to acquire the Musselwhite Mine, located in Ontario, Canada. This transaction is subject to certain conditions and is expected to close in the first quarter of 2025. 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.

Appendix: Drill Results

Table 1: Composite Drill Results (Composites Ox/Tr 0.17g/t Au cog & Sx 0.50g/t Au cog)

Table 2: Skarn Target Drill Results

Table 3: South Carlin Complex Drill Hole Collars

Figure 1: South Carlin Complex drill results, H2 2024. (CNW Group/Orla Mining Ltd.)

Figure 2: Dark Star and Pinon 2024 drill holes. (CNW Group/Orla Mining Ltd.)

Figure 3: Dark Star long section, looking west (CNW Group/Orla Mining Ltd.)

Figure 4: Dark Star North long section, looking west. (CNW Group/Orla Mining Ltd.)

Figure 5: Cross section along DSC24-02, looking north. (CNW Group/Orla Mining Ltd.)

Figure 6: Pinion vertical cross section, looking northeast (CNW Group/Orla Mining Ltd.)

Figure 7: South Area Drill Results and Au-in-Soil trends (CNW Group/Orla Mining Ltd.)

Figure 8: Bowl Vertical Cross Section, Looking Northwest (CNW Group/Orla Mining Ltd.)