Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) is pleased to provide an operational update for the first quarter ended March 31, 2026. Orla remains on track to meet its full year consolidated gold production guidance range of 340,000–360,000 ounces.

(All amounts expressed in millions of US dollars, as at March 31, 2026, and are unaudited)

First Quarter Operational Update

“2026 was always going to be a catalyst-rich year, and the opening months have not disappointed. We delivered the updated feasibility study at South Railroad, completed the PEA for the Camino Rojo underground project, secured the final permits for the open-pit expansion, delivered exciting exploration results in Canada, and generated strong production start from both our sites, all representing meaningful milestones across our portfolio. We are proud of our team in all three nations who contributed to all these successes giving us real confidence for the remainder of 2026.”
–  Jason Simpson, President and Chief Executive Officer, Orla Mining.

Musselwhite Operations

During the quarter, Musselwhite mined 333,495 tonnes of ore and processed 332,822 tonnes at a mill head grade of 6.29 g/t gold. Gold recovery was 95.91% resulting in gold production of 62,985 ounces.

Musselwhite completed 3,437 metres of lateral development. 367 metres of the completed lateral development was attributed to the advance of the 1080 exploration drift. The 1080 exploration drift is being used to provide platforms for underground diamond drilling in the PQ Extensions area with the objective to continue growing reserves and resources in the extension of the Mine Trend. During the quarter, 2,300 metres of reserve, 9,200 metres of resource, 5,300 deep directional, and 2,700 metres of brownfields drilling were completed. All drilling programs continue to produce encouraging results.

Camino Rojo Operations

During the quarter, Camino Rojo mined over 2,024,832 million tonnes of ore and nearly 2,326,082 million tonnes of waste, for an implied strip ratio of 1.15. A total of 1,828,000 million tonnes of ore were stacked at an average grade of 0.59 g/t gold equating to an average daily stacking rate of about 20.3 thousand tonnes.

As noted in the March 18, 2026, press release, the Company received the environmental permit from Mexico’s Secretariat of Environment and Natural Resources for its Camino Rojo Mine in Zacatecas, Mexico. With this approval, Orla now has all the permits necessary, including the Change of Land Use approval, to mine the remainder of the oxide open-pit, including the layback area.

Liquidity Position

At March 31, 2026, Orla’s cash and debt positions were $427.3 million and $331.3 million, respectively resulting in a net cash position of $96.0 million.¹

First Quarter 2026 Conference Call

Orla expects to release its first quarter 2026 operating and financial results on May 8, 2026, and will host a conference call on May 11, 2026, at 10:00 AM, Eastern Time, to provide a corporate update.

Dial-In Numbers / Webcast:

North American – Toll-Free:    +1 833 461 5787

USA / International Toll:         +1 585 542 9983

Canada – Toll-Free:                +1 365 657 4084

Conference ID:                       581323587

Webcast:                                https://orlamining.com/investors/

Qualified Persons Statement

The scientific and technical information in this news release was reviewed and approved by Mr. J. Andrew Cormier, P. Eng., Chief Operating Officer of the Company, who is the Qualified Person as defined under NI 43-101 standards.

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 and the potential underground Project. 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 close to 6 million ounces of gold, with a long history of resource growth and conversion; and (3) South Railroad (South Carlin Complex), in Nevada, United States, a feasibility-stage, open pit, heap leach gold project located on the Carlin trend. 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.

For further information, please contact: 

Jason Simpson
President & Chief Executive Officer

Andrew Bradbury
Vice President, Investor Relations & Corporate Development

www.orlamining.com
investor@orlamining.com