Orvana Announces Restart of Milling IN Orovalle Mining Continues Uninterrupted
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Date: Sept 3, 2021 #15-2021
ORVANA ANNOUNCES RESTART OF MILLING IN OROVALLE
MINING CONTINUES UNINTERRUPTED
TORONTO, ONTARIO, Sept 3, 2021 – Orvana Minerals Corp. (TSX:ORV) (the “Company” or
“Orvana”) is pleased to report that production at its El Valle Plant in Spain has restarted once Safety,
Environmental, and Operational standards were carefully verified and upheld. As announced in the
Company's news release on August 16, 2021, a temporary stoppage of activities at the plant facilities had
been implemented to assess for corrective measures related to the tailings pumping circuits due to a failure
at a legacy open pit wall. Underground mining continued operating through out the plant stoppage,
generating a stockpile that will be the basis of a metal production catch-up program, during the months
ahead.
Juan Gavidia, CEO of Orvana Minerals stated: “The OroValle team’s prompt reaction to this matter was
instrumental to make this stoppage period operationally safe, environmentally sound, and economically
brief.”
The geotechnical failure in the legacy open pit wall sector continues under review. The Company is working
on a definitive long-term wall treatment.
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, the Don Mario gold -silver
property in Bolivia, currently in care and maintenance , 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
Joanne Jobin
Investor Relations Officer
T: 647 964 0292
Cautionary Statements - Forward-Looking Information
Certain statements in this presentation constitute forward -looking statements or forward -looking information within the meaning of
applicable securities laws (“forward -looking statements”). Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (of ten, but
not always, using words or phrases such as “believes”, “expects”, “plans”, “estimates” or “intends” or stating that certain actions,
events or results “may”, “could”, “would”, “might”, “will” or “are projected to” be taken or achieved) are not statements of historical
fact, but are forward-looking statements.
The forward-looking statements herein relate to, among other things, Orvana’s ability to achieve improvement in free cash flow ; the
ability to maintain expected mining rates and expected throughput rates at El Valle Plant; the potential to extend the mine life of El
Valle and Don Mario beyond their current life-of-mine estimates including specifically, but not limited to, in the case of Don Mario, the
processing of the mineral stockpiles and the reprocessing o f the tailings material; Orvana’s ability to optimize its assets to deliver
shareholder value; the Company’s ability to optimize productivity at Don Mario and El Valle; estimates of future production, operating
costs and capital expenditures; mineral resou rce and reserve estimates; statements and information regarding future feasibility
studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic
diversification; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and
mine development plans.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable
by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive
uncertainties and contingencies, which includes, without limitation, as particularly set out in the notes accompanying the Company’s
most recently filed financial statements. The estimates and assumptions of the Company contained or incorporated by reference in
this information, which may prove to be incorrect, include, but are not limited to the various assumptions set forth herein a nd in
Orvana’s most recently filed Management’s Discussion & Analysis and Annual Information Form in respect of the Company’s most
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recently completed fiscal year (the “Company Disclosures”) or as otherwise expressly incorporated herein by reference as well as:
there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions,
damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle and Don Mario being
consistent with the Company’s current expectations; political developments in any jurisdiction in which the Company operates being
consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies bein g
approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of the
Company’s current mineral reserve and mineral resource estimates; and labour and materials costs increasing on a basis consistent
with Orvana’s current expectations. Without limiting the generality of the foregoing, this presentation also contains certain "forward-
looking statements" within the meaning of applicable securities legislation, including, without limitation, statements wi th respect to
the results of the preliminary economic assessment, including but not limited to the mineral resource estimation, conceptual mine
plan and operations, internal rate of return, sensitivities, taxes, net present value, potential recoveries, design parameters, operating
costs, capital costs, production data and economic potential; the timing and costs for production decisions; permitting timel ines and
requirements; exploration and planned exploration programs; the potential for discovery of addit ional mineral resources; timing for
completion of a feasibility study; timing for first gold production; and the Company's objectives and strategies.
A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, a ffect the operations,
performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated
or anticipated events or results expressed or implied by forward looking statements. Some of these r isks, uncertainties and factors
include: the potential impact of the COVID-19 on the Company’s business and operations, including: our ability to continue operations;
our ability to manage challenges presented by COVID-19; the accounting treatment of COVID-19 related matters; Orvana’s ability to
prevent and/or mitigate the impact of COVID -19 and other infectious diseases at or near our mines; our ability to support the
sustainability of our business including through the development of crisis management plans, increasing stock levels for key supplies,
monitoring of guidance from the medical community, and engagement with local communities and authorities; fluctuations in the price
of gold, silver and copper; the need to recalculate estimates of resources bas ed on actual production experience; the failure to
achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified
personnel; the Company’s ability to obtain and maintain all necessary regulatory approvals and licenses; the Company’s ability to
use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Comp any’s
ability to continue to operate the El Valle and/or ability to re sume long-term operations at the Carlés Mine; the Company’s ability to
successfully implement a sulphidization circuit and ancillary facilities to process the current oxides stockpiles at Don Mari o; the
Company’s ability to successfully carry out development plans at Taguas; sufficient funding to carry out development plans at Taguas
and to process the oxides stockpiles at Don Mario; the Company’s ability to acquire and develop mineral properties and to
successfully integrate such acquisitions; the Company’ s ability to execute on its strategy; the Company’s ability to obtain financing
when required on terms that are acceptable to the Company; challenges to the Company’s interests in its property and mineral rights;
current, pending and proposed legislative o r regulatory developments or changes in political, social or economic conditions in the
countries in which the Company operates; general economic conditions worldwide; current and future environmental matters; and
the risks identified in the Company’s disc losures. This list is not exhaustive of the factors that may affect any of the Company’s
forward-looking statements and reference should also be made to the Company’s Disclosures for a description of additional risk
factors.
Any forward-looking statements made herein with respect to the anticipated development and exploration of the Company’s mineral
projects are intended to provide an overview of management’s expectations with respect to certain future activities of the Co mpany
and may not be appropriate for other purposes. Forward-looking statements are based on management’s current plans, estimates,
projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-
looking statements should a ssumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are
cautioned not to put undue reliance on forward -looking statements. The forward -looking statements made in this information are
intended to provide an overview of management’s expectations with respect to certain future operating activities of the Company and
may not be appropriate for other purposes.