Orvana Announces US$25 Million Prepayment and Offtake Agreements with Trafigura
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For Immediate Release TSX:ORV
Date: November 6, 2025 #17-2025
ORVANA ANNOUNCES US$25 MILLION PREPAYMENT AND OFFTAKE
AGREEMENTS WITH TRAFIGURA
TORONTO, ONTARIO, November 6, 2025 - Orvana Minerals Corp. (TSX:ORV) (the “ Company” or
“Orvana”) announces that its Bolivian subsidiary, Empresa Minera Paitití, S.A. ("EMIPA ") has closed a
US$25 million secured prepayment facility (the “ Prepayment Facility”) and entered into offtake
agreements with Trafigura Pte. Ltd. (“ Trafigura”) for copper cathodes and doré bars (collectively, the
“Offtake Agreement”), to be produced from the Don Mario Operation, in Bolivia.
Proceeds from the Prepayment Facility will fully fund the remaining capital required to complete the Don
Mario plant expansion. As of the end of October 2025, 69% of the forecasted project CAPEX has been
disbursed. Construction is on track for completion by year‑end, with commissioning and start‑up expected
in early 2026. EMIPA is currently conducting on-site pilot testing to finalize recovery estimates; updated
production and cost guidance will be provided once testing is complete.
Juan Gavidia, CEO of Orvana, stated:
"Securing this prepayment facility and offtake arrangement with Trafigura is a significant milestone in the
restart of Don Mario. The financing allows us to complete plant construction and provides marketing
certainty for our copper cathode and doré production."
Transaction Highlights
• Prepayment facility – Trafigura will provide US$25 million to EMIPA to fund completion of the
expansion of the Don Mario processing plant. The loan bears interest at SOFR + 8 % per annum,
has a 13‑month term including a 7‑month interest‑only period, and is repayable in equal monthly
instalments over six months. EMIPA’s ordinary shares and certain other assets are pledged as
security, and customary covenants restrict certain distributions while the facility is outstanding.
• Offtake agreements – EMIPA has agreed to sell 100% of the life ‑of‑mine production of copper
cathodes and doré bars produced from its Don Mario oxide stockpile to Trafigura. Pricing will be
based on reference to the London Metal Exchange (LME) and the London Bullion Market
Association (LBMA).
Detailed information on the Don Mario oxides stockpile and related mineral reserves can be found in the
Don Mario Operation NI 43-101 Technical Report dated March 28, 2022, available under Orvana’s profile
on SEDAR+.
ORVANA SUBSIDIARY IN BOLIVIA REPORTS Q4 FY2025 FINANCIAL RESULTS
In September 2023, Autoridad de Supervisión del Sistema Financiero (“ASFI”), Bolivia’s financial regulator,
approved and registered EMIPA as an eligible bond issuer on the Bolivian stock market. As a registered
bond issuer on the Bolivian stock market, EMI PA is required to file its quarterly financial statements with
ASFI. EMIPA has filed its unaudited Financial Statements for the period ended September 30, 2025 with
ASFI, which may be viewed at the following ASFI landing page (the “ASFI Page”):
https://www.asfi.gob.bo/index.php/registro-rmv/mv-entidades-inscritas-en-el-rmv.html
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To search for EMIPA’s financial statements, select the following at the ASFI Page:
Buscar: Empresa Minera Paitití, S.A. EMIPA
Ver: Estados Financieros
CONSOLIDATED OPERATIONAL AND FINANCIAL PERFORMANCE:
Project updates for Bolivia and Argentina, and Q4 FY2025 consolidated operational and financial highlights
will be released with the fourth quarter financials, expected early-December, 2025.
FY2026 guidance will be released with FY2025 year-end financials.
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, currently in plant
expansion; 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
Cautionary Statements – Forward-Looking Information
This news release contains forward ‑looking statements within the meaning of applicable securities laws, including statements
regarding completion of the Don Mario plant expansion, the timing of commissioning and start ‑up, anticipated production levels and
the impact of the financing on Orvana’ s operations. Forward ‑looking statements are based on management ’s reasonable
assumptions as of the date hereof but involve known and unknown risks and uncertainties. Factors that could cause actual results
to differ materially include those described i n the Company’s most recent Annual Information Form and Management’s Discussion
and Analysis, available on SEDAR+. Readers are cautioned not to place undue reliance on forward ‑looking statements. The
Company disclaims any intention or obligation to update or revise any forward‑looking statements, except as required by law.