Orvana Announces First GOLD-Silver Doré BAR from Its Oxides Stockpile Project IN Bolivia
For Immediate Release
Date: September 8, 2026
TSX: ORV
OTCQX: ORVMF
#23-2026
ORVANA ANNOUNCES FIRST GOLD-SILVER DORÉ BAR
FROM ITS OXIDES STOCKPILE PROJECT IN BOLIVIA
TORONTO, ONTARIO, September 8 , 2026 – Orvana Minerals Corp. ( TSX: ORV; OTCQX: ORVMF )
("Orvana" or the " Company") announces that its Bolivian subsidiary, Empresa Minera Paitití S.A.
("EMIPA"), has successfully produced its first doré bar from the processing of oxides stockpiled at its Don
Mario site.
“The first doré bar from EMIPA’s oxides confirms that the metallurgical performance of the expanded Don
Mario Plant is in line with design and engineering assumptions. We remain focused on safely increasing
throughput, and optimizing plant performance as operations ramp up" said Juan Gavidia, Chief Executive
Officer of Orvana.
Image 1: Don Mario Plant Team, post-first pour
Image 2: First gold-silver pouring from oxides ore at Don Mario Plant
Oxides Stockpile Project (“OSP”)
The Don Mario operation, located in the Don Mario district in southeastern Bolivia, is owned and operated
by EMIPA, Orvana’s Bolivian subsidiary. Mining and milling operations at Orvana’s Don Mario operations
were temporarily suspended in the first quarter of fiscal 2020 following depletion of mineral reserves at that
time.
The Company is now completing the OSP to process oxide material that was stockpiled during previous
years of mining at Don Mario. The project includes a large expansion for copper cathodes production
enablement, and an upgrade of the ADR section of the legacy gold-silver circuit of the Don Mario Processing
Plant.
The high-level flowsheet below illustrates the expanded Don Mario Plant and the recovery routes for copper,
gold and silver.
Image 3: Don Mario Plant Conceptual Flowsheet
Next Operational Milestones
EMIPA's focus remains on the safe and disciplined ramp -up of operations at the expanded Don Mario
Processing Plant. Key priorities include increasing processing throughput, optimizing metallurgical
performance, and progressing toward full commercial production of gold-silver dore, and copper cathodes,
while maintaining rigorous cost control.
Production levels during fiscal 2026 will depend on the progress of ramp-up activities, plant performance
and the successful stabilization of all operating circuits. The Company will provide updates on ramp- up
progress and key operational developments in due course.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Luis Isla,
Chief of Geology of EMIPA, a Qualified Person as defined under National Instrument 43 -101 and an
employee of Empresa Minera Paitití, S.A., a subsidiary of Orvana, and is not independent of the Company.
ABOUT ORVANA – Orvana is a multi -mine gold-copper-silver company. Orvana's assets consist of the
producing Orovalle operation in northern Spain; the Don Mario operation in Bolivia; and the Taguas property
located in Argentina. Additional information is available at Orvana's website (www.orvana.com).
For further information please contact:
Nuria Menéndez
Chief Financial Officer
Email: [email protected]
Cautionary Statements – Forward-Looking Information
Certain statements in this news release constitute forward-looking statements or forward-looking information within the
meaning of applicable securities laws ( "forward-looking statements"). Forward-looking information includes, without
limitation, statements regarding the increasing processing throughput, optimizing metallurgical performance, and
progressing toward commercial copper cathode production; and anticipated production levels at Don Mario during fiscal
2026.
Forward-looking statements are not statements of historical fact and are generally identified by words or phrases such
as "believes", "expects", "plans", "estimates", "intends", "anticipates", "may", "could", "would", "might" or "will", or similar
expressions, and include statements regarding future events and performance.
Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. The forward-
looking statements in this news release are based on assumptions including, without limitation that the expanded Don
Mario Plant will continue to operate in a manner consistent with current operating and metallurgical expectations; that
oxide stockpile characteristics and metallurgical performance will remain substantially consistent with project
assumptions; that EMIPA will be able to secure and maintain the supplies, reagents, consumables, power and other
inputs required to support ongoing operations; that qualified personnel and contractors will remain available to support
ramp-up activities; that the Company will maintain sufficient liquidity, working capital and access to financing required
to fund operations during the ramp-up period; and that operational, regulatory, commercial and market conditions will
continue to support the advancement of the Oxides Stockpile Project. There can be no assurance that any of these
assumptions will prove correct or that the forward-looking statements will be achieved.
Actual results could differ materially from those expressed or implied in forward-looking statements due to a variety of
factors, many beyond the Company 's control, including, without limitation: variability in ore grades, metallurgical
recoveries, throughput or plan performance during ramp-up of the expanded Don Mario Plant; delays In achieving
commercial copper cathode production; the unavailability of qualified personnel of contractors, the inability of EMIPA
to secure or maintain the supplies, reagents, consumables, power or other inputs required for operations, insufficient
liquidity or working capital to fund ramp-up activities; deterioration in Bolivia's economic conditions, including foreign
exchange constraints in law, regulation or governmental policy affecting mining operations in Bolivia. Additional risk
factors applicable to the Company are described in the Company's most recent Annual Information Form, available at
www.sedarplus.ca.
Orvana does not undertake any obligation to update forward-looking statements, except as required by law. Readers
are cautioned not to place undue reliance on forward-looking statements.