# ORVANA REPORTS Q1 FY2026 PRODUCTION AND EXPLORATION RESULTS; AND PROVIDES UPDATE ON OXIDES STOCKPILE PROJECT AT DON MARIO, BOLIVIA *2026-01-16T05:30:00-05:00* ORVANA REPORTS Q1 FY2026 PRODUCTION AND EXPLORATION RESULTS; AND PROVIDES UPDATE ON OXIDES STOCKPILE PROJECT AT DON MARIO, BOLIVIA Canada NewsWire **TSX:ORV** TORONTO, Jan. 16, 2026/CNW/ -**Orvana Minerals Corp.**(TSX: ORV) **(the "Company" or "Orvana") **is pleased to report production and exploration updates for the first quarter of fiscal year 2026, ended December 31, 2025("Q1 FY2026") as well as an update on the Oxides Stockpile Project at its Don Mario operation in Bolivia. Juan Gavidia, CEO of Orvana, stated: "_The first quarter of fiscal 2026 was a strong quarter for Orvana, with operational improvements and grade increases leading to higher gold production at Orovalle. We have also made progress in our exploration program for the Taguas Project in Argentina, and the expansion of the Don Mario Plant in Boliviais advancing, with initial doré production expected to commence in February, subject to completion of ongoing performance verification activities."_ **Highlights:** - Orovalle remains on track to meet its FY2026 production guidance, while the Company advances drilling at Taguas and progresses with its Oxides Stockpile Project in Bolivia. - **Q1 FY2026 Production:** - 10,576 Gold Equivalent Ounces(1)(9,308 gold ounces, 0.7 million copper pounds and 31,007 silver ounces). - 100% of the Company's production for the quarter was generated by Orovalle, the Spanish unit. - **Q1 FY2026 Exploration:** - Taguas: Exploration program advancing as scheduled. - Geophysical survey completed over the full 4 km² area of interest between Cerro Campamento and Cerro Cuarto(part of Cerros Taguas), using a 400 m× 400 mgrid. Results are currently under evaluation and will be reported in a future update. - Based on preliminary geophysical results and the updated geological model, the Company is advancing to the next phase of its exploration program, commencing with the first deep drilling campaign. Mobilization of drilling equipment is underway in preparation for the planned drilling program. The Company expects to drill approximately 4,500 metres through April 2026, targeting areas showing potential copper-gold porphyry indicators. - Orovalle: 3,337 metres drilled (1,278 and 1,512 metres infill and brownfield drilling at El Valle Boinás, and 547 metres greenfield drilling at Lidia). - **Oxides Stockpile Project:** - The project involves a plant expansion to treat ore stockpiled from previous years of mining activity. The expansion consists of: (i) plant expansion proper, including new circuits for Cu oxides' acid leaching, filtering, solvent extraction and electro-winning to produce Cu cathodes; and Au-Ag and Detox circuits' enhancement, both in terms of throughput and in terms of technological performance; (ii) comprehensive overhaul of pre-existing comminution and thickening circuits; and (iii) business-readiness initiatives, including upgrades to power generation, chemical and metallurgical laboratories, warehouses and workshops; and recruitment – training of new manpower. - As previously announced on December 17, 2025, the Company initiated performance verification of the comminution and thickening circuits, originally expected to be completed by mid-January 2026. These activities have taken longer than anticipated and are now expected to continue until early February, primarily due to corrective maintenance identified during testing, including the delivery and installation of certain spare parts. The Company is also working to enhance the desorption and smelting processes for gold and silver, and expects to complete these processes in January 2026. - Subject to the completion of the previously detailed works in the Au-Ag circuit, legacy ore from the Las Tojas area that remained on site from prior operations (and is distinct from the Company's oxide stockpiles) is expected to be processed beginning in February into mid-March 2026, and the Company expects initial doré production to commence in February 2026. - The copper circuit, part of the Don Mario Plant expansion, whose construction was previously scheduled to be completed in January 2026, is now anticipated to be completed by mid-March, following delays in the delivery of certain materials and services. Subsequent commissioning activities will then be completed, and the connection between the Cu and Ag-Au circuits will be made, with the processing of oxide stockpiles ore expected to begin during April 2026. - The on-site pilot test has been completed, and work is now underway on the analytical lab results. Upon assessment of these results, the pilot testing, together with pre-existing metallurgical data, is expected to enable the Company to update its metal production estimates derived from processing the oxide stockpiles at Don Mario. The Company expects to provide updated information once the tes