Orvana Announces Results of Annual Shareholders’ Meeting
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Date: March 6, 2020 #03-2020
Orvana Announces Results of Annual Shareholders’ Meeting
Toronto, Ontario, March 6, 2020 - Orvana Minerals Corp. (TSX:ORV) (the “Company” or “Orvana”)
announced today that, at its annual shareholders’ meeting (the “Meeting”) held on March 5, 2020, the
individuals noted below were elected as directors of the Compan y. The report on proxies provided by the
Company’s transfer agent indicated the following:
George Darling received 75,391,125 votes (representing 97.78% o f votes cast); Alan Edwards received
75,388,989 votes (representing 97. 78% of votes cast); Alfredo G arcia Gonzalez received 75,391,489 votes
(representing 97.78% of votes cast); Ed Guimaraes received 75,3 89,339 votes (representing 97.78% of votes
cast); Sara Magner received 75,389,489 votes (representing 97.7 8% of votes cast); and Gordon Pridham
received 75,389,489 votes (representing 97.78% of votes cast).
Mr. Gordon Pridham was re-appointed as chairman of the board of directors; Mr. Juan Gavidia was re-appointed
Chief Executive Officer; Ms. N uria Menendez was re-appointed Ch ief Financial Officer; and Mr. Binh Vu was
re-appointed Corporate Secretary/VP Legal Affairs, immediately after the Meeting.
The Company also reports the re-appointment of PricewaterhouseCoopers LLP as the Company's independent
auditor.
For full voting details please see Orvana's voting results as filed on SEDAR at www.sedar.com.
ABOUT ORVANA Orvana is a multi-mine gold-coppe r-silver company. Orvana’s ass ets consist of the
producing El Valle and Carlés gold-copper-silver mines in north ern Spain, and the Don Mario gold-silver
property in Bolivia, currently in care and maintenance. Additio nal 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 made herein constitute forward-looking statements or forward-look ing information within the meaning of appli cable
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 (often, but not always, using words or phrases
such as “believes”, “expects”, “plans”, “estimates”, “intends” or “anticipates” 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 potential
to extend the mine life of El Valle and Don Mario beyond their curr ent 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 of 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 resource and re serve estimates; statements and information regarding future f easibility
studies and their results; future transac tions; future metal prices; the ability to achieve additional growth and geographic di versification;
future financial performance, including the ability to increase ca sh 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 subj ect to significant business, ec onomic and competitive uncertainti es and
contingencies. The estimates and assumptions of the Company contained or incorporated by reference in this news release, which may
prove to be incorrect, include, but are not limited to, the variou s assumptions set forth herein and in Orvana’s most recently filed
Management’s Discussion & Analysis and Annual Information Form in respect of the Company’s most recently completed fiscal year (the
“Company Disclosures”) or as other wise expressly incorporated her ein by reference as well as: there being no significant disrup tions
affecting operations, whether due to labour disruptions, supply disruptions, power disr uptions, damage to equipment or otherwis e;
permitting, development, operations, expansion and acquisitions at El Valle and Don Mario being consistent with the Company’s current
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expectations; political developments in any ju risdiction in which the Com pany operates being consistent with its current expect ations;
certain price assumptions for gold, copper and silver; prices for key supplies being 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.
A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance
and results of the Company and its business, and could cause actual events or results to differ materially from estimated or an ticipated
events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in
the price of gold, silver and copper; the need to recalculate es timates of resources based on ac tual 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 expl oration and development, including the Company’s ability to continue to
operate the El Valle and/or Don Mario and/or ability to resume 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 Mario; the Company’ s ability to
acquire and develop mineral properties and to successfully integrat e such acquisitions; the Company’s ability to execute on its strategy;
the Company’s ability to obtain financing when required on terms t hat are acceptable to the Company; challenges to the Company’ s
interests in its property and mineral rights; current, pending and proposed legislative or regul atory developments or changes i n political,
social or economic conditions in the count ries in which the Company operates; general economic conditions worldwide; and the ri sks
identified in the Company’s disclosures. This list is not exhaustive of the factors that may affect any of the Company’s forwar d-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 Company 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 assumptions related to these plans,
estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking stateme nts.