• Gold-equivalent production of 18,398 ounces; a 10% increase from Q4 Fiscal Year 2020.
• Continuing brownfield and greenfield exploration at Orovalle, Spain.
• Fieldwork exploration in progress at Taguas, Argentina.
• Quality Assurance Testing Planning for the Oxides Stockpile Project (OSP) at EMIPA, Bolivia.

Orvana Minerals Corp. (TSX: ORV) announced operational results for the first quarter of fiscal 2021.

Juan Gavidia, CEO of Orvana Minerals stated: “The Company has started fiscal 2021 with a strong first quarter, both at the operational and exploration levels. Orvana remains on target to deliver on our production guidance, plus, more strategically, advancing exploration and developmental initiatives at our three business units in Spain, Argentina and Bolivia.”

OroValle

• Quarterly 14,127 ounces of gold production, 5% higher than previous quarter due to higher throughput, partially off-set by lower ore grade.
• Copper production was 2.0 million pounds, 15% higher than previous quarter.
• Lidia Project Exploration Program commenced on schedule.
• Permitting for Ortosa Godan is in progress. Drilling expected to start in March 2021.

Taguas

• Fieldwork exploration campaign completed in December 2020, including new access points, geological mapping and soil and rock sampling.
• Preparations are underway for a drilling campaign to start in February 2021.
• A new Mineral Resource Estimate is being updated in compliance with Canadian National Instrument 43-101, by Geosim Services Inc, an independent consulting firm, by February 2021.

EMIPA

• As a result of latest metallurgical testing showing positive results for the Oxides Stockpile Project (OSP), a pilot program is being developed, with final conclusions expected in late fiscal 2021.
• New reprocessing and interpretation of historical geological data was completed in December 2020. Areas of interest will be subject to non-drilling exploration fieldwork during the next three quarters of fiscal 2021. The goal is to develop drilling targets for fiscal 2022 within the most prospective areas of the Don Mario Complex.

Production Results

ABOUT ORVANA

Orvana is a multi-mine gold-copper-silver company. Orvana’s assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain, and the Don Mario gold-silver property in Bolivia, currently in care and maintenance. Orvana is in the process of closing the acquisition of Taguas, Argentina.