#Orvana Minerals #Don Mario #Taguas Project #Bolivia

Orvana's Q1 FY2026 Results Overview

Orvana Minerals Corp. has released its production and exploration results for the first quarter of fiscal year 2026, which concluded on December 31, 2025. This quarter highlighted significant operational improvements, leading to increased gold production at the Orovalle mine located in Spain. CEO Juan Gavidia expressed optimism about the results, stating the quarter represented a strong performance with a focus on both operational enhancements and expansion initiatives.

Production Highlights

For Q1 FY2026, the company reported a total production of 10,576 Gold Equivalent Ounces. This figure includes:

• - 9,308 gold ounces
• - 0.7 million copper pounds
• - 31,007 silver ounces

The Orovalle unit was responsible for 100% of the company's production during this quarter. The operations at Orovalle performed well, achieving a 28% increase in the dry tonnes processed compared to the previous quarter, while maintaining enhanced recovery rates and overall gold grades.

Exploration Success at Taguas

In addition to production, Orvana has made advancements in its exploration program for the Taguas Project in Argentina. The company successfully completed a geophysical survey over the 4 km² target area, which will help inform further drilling activities planned for the upcoming months. Initial analyses indicate promising geological structures, which could hold additional copper-gold mineralization.

• - The exploration drill program is transitioning into a deeper drilling phase, with an aim to drill approximately 4,500 meters by April 2026 to expand the understanding of the copper-gold porphyry indicators identified in preliminary studies.
• - The initial data has led to renewed confidence in the potential of the Taguas region, prompting a strategic mobilization of drilling equipment to support upcoming activities.

Oxides Stockpile Project Update

The Don Mario Oxides Stockpile Project has also seen important developments. The expansion of the plant is key for processing ore that has been stockpiled from previous operations. Key components of the expansion include:

• - New circuits for acid leaching, filtering, solvent extraction, and electro-winning aimed at optimizing copper cathode production.
• - Enhancements to existing detoxification circuits to improve throughput and performance.
• - Comprehensive updates on existing facilities to prepare for operational readiness.

Performance verification of the updated circuits has faced some delays due to maintenance issues, but Orvana anticipates that commissioning will take place shortly, setting the stage for the commencement of initial doré production in February 2026. The history of the ore from various mining activities has been thoroughly evaluated, and initial processing is expected to hit a rhythm by mid-March 2026.

Future Outlook

The outlook for the subsequent quarters appears optimistic, especially with Orovalle on track to meet its forecasted production guidance. The company expects to continue its trajectory of improvement across its various mining operations while adhering to its ongoing exploration commitments at Taguas. Spanning various regions including Bolivia and Argentina, Orvana Minerals stands poised to enhance its footprint in the global mining sector.

Overall, the Q1 FY2026 report encapsulates positive trends for Orvana Minerals as they continue to navigate production challenges and exploration opportunities. As the company moves towards partial completion of its Don Mario expansion, it sets a strong foundation for future growth and profitability in the competitive mining landscape.