ORVANA REPORTS INITIAL RESULTS FROM DEEP DRILLING PROGRAM AT TAGUAS

Canada NewsWire

TSX:ORV
OTCQX: ORVMF

Highlights

• Drilling is ongoing on the first deep drill hole (TADD–278) at the Taguas property, Argentina, which has reached a depth of approximately 1,326 metres as of April 7.
• The Company's objective is to advance the drill hole to the maximum feasible depth, currently targeted at between 1,500 and 2,000 metres.
• Drilling has intersected a vertically zoned hydrothermal system, transitioning from a high–sulfidation epithermal environment into a deeper porphyry setting.
• Preliminary assay results (Table 1) and the identified mineralogy (Figure 1) support the interpretation that drilling remains within the upper to intermediate levels of the mineralized system.

TORONTO, April 8, 2026 /CNW/ - Orvana Minerals Corp. (TSX: ORV) (OTCQX: ORVMF) ("Orvana" or "the Company"), is pleased to report an update on the progress to date, initial assay results, and planned next steps of the ongoing deep drilling campaign at its 100%-owned Taguas Project in San Juan, Argentina.

Raúl Álvarez, Director of Exploration and Technical Services of Orvana, commented: "We are encouraged by the results obtained to date.  The upcoming metres of drilling are expected to further improve our understanding of the Taguas mineral system."

Strategic Context

• The Company has expanded its evaluation of the Taguas Project beyond the near-surface oxidized gold-silver resource outlined in the 2021 Preliminary Economic Assessment (dated December 29, 2021, available at www.sedarplus.ca) to include the underlying sulfide mineralization and potential porphyry-style copper-gold mineralization.
• The Company completed an updated geological model for the Taguas Project and conducted a geophysical survey, designed to identify potential deeper targets to a depth of 1,500 metres.
• Results from the geophysical survey, combined with the recent review of historical exploration data have been used to prioritize key targets for the initial deep drilling, which is now underway.

Deep Drilling Results to Date

• As of April 7, 2026, 1,326 metres had been drilled on drill hole TADD-278 (Figure 2). Drilling progress has been notably slowed by the structurally complex fault zones encountered.
• Drilling has intersected a vertically zoned hydrothermal system transitioning from a high-sulfidation epithermal environment into a deeper porphyry setting. These results are preliminary in nature and subject to receipt of additional assays and verification. While the results are encouraging, additional drilling is required to determine the extent, continuity and economic significance of the mineralization.
• The upper section is dominated by rhyolitic tuffs with argillic alteration, evolving into dacitic volcanics and a sericitic-altered intrusive from 736 metres depth. Increased veining intensity, the presence of A- and B-type veins, and the appearance of molybdenum-bearing veinlets are interpreted to be consistent with a porphyry-style system, although the core has not yet been intersected.
• Preliminary assay results (Table 1) from 715 to 920 metres returned 0.25 g/t gold and 0.12% copper over 205 metres (downhole length). Chalcopyrite occurs only in trace amounts, while pyrite dominates (Figure 1). Assay data and identified mineralogy support the interpretation that drilling remains within the upper to intermediate levels of the mineralized system.
• Assays from 920 metres to the current depth remain pending.
• The most significant intercepts available to date from drill hole TADD–278 are detailed in Table 1 below:

Table 1. Selected intercepts from TADD-278

* Copper content above 715 metres is primarily associated with the presence of enargite (Cu?AsS?), characteristic of high-sulfidation epithermal systems.
** Intercepts reported are downhole lengths unless otherwise stated, and true widths are not yet known. No cut-off grade has been applied. The reported intervals may not be representative of mineralization across the property.

Next Steps

• The Company expects to continue advancing drill hole TADD–278, targeting a final depth in the range of 1,500 to 2,000 metres.
• No additional drill holes are planned for the current field season due to anticipated adverse weather conditions associated with the arrival of winter season.
• Completion of drilling and full data analysis, together with geological mapping, petrographic studies, and a technical review, are expected to provide further insight into the system and support planning of the next exploration campaign.
• Further updates on drilling results, along with additional analytical and geological information, are expected as additional assay results are received and analyzed.

Quality Assurance-Quality Control ("QA/QC")

Samples were prepared and analyzed by Alex Stewart International Argentina SA Laboratory in Mendoza. This laboratory is ISO 9001; ISO 17025, and ISO 14001 certified. Samples were prepared following the P-5 laboratory preparation code: the samples were dried, crushed to passing 10 mesh (>80%), riffle split of 1kg sample and pulverized to 106 microns (>95%). The assays included 50 g Au by fire assay (FA), AA finish and 39 element package with aqua regia dilution and ICP OES finish. Over limits for Au and Ag were run in 50 g sample by FA and gravimetric method finish. Coarse and pulp rejects were returned and are stored in a storage facility in Mendoza, Argentina.

The reported work has been completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of quarter core field duplicates, coarse duplicates split after laboratory crushing, pulp duplicates split after laboratory pulverization, coarse analytical blank samples and 2 different CRMs inserted in batches of roughly 50 samples.

This exploration update has been prepared under the supervision of Raúl Alvarez Cifuentes, a Qualified Person as defined under NI 43-101. Mr. Alvarez is an employee of the Company, and therefore is not independent of the Company.

The Qualified Person has reviewed and verified the technical data disclosed in this news release. Drilling is being conducted using diamond drilling methods.

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 operation in Bolivia, and the Taguas property located in Argentina. Additional information is available at Orvana's website (www.orvana.com).

Cautionary Statements - Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward–looking information includes, but is not limited to, statements regarding the next steps of the Taguas exploration campaign, including the planned depth of the drill hole currently in progress, forthcoming geological work, and the anticipated next exploration campaign. There is no assurance that the current drilling program will result in the definition of mineral resources or that any mineralization identified will be economically viable.

Forward-looking statements are based on management's current expectations, estimates, projections and assumptions as of the date of this news release and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are not statements of historical fact and are generally identified by words such as "believes", "expects", "plans", "estimates", "intends", "anticipates", "forecasts", "projects", "may", "could", "would", "might" or "will", or similar expressions.

A variety of risks, uncertainties and factors, many of which are beyond the Company's control, could cause actual results to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and factors include, among others: delays or difficulties in obtaining or maintaining necessary permits and authorizations (including environmental and tailings-related authorizations); the impact of global economic and geopolitical conditions; fluctuations in the price of gold, silver and copper; variations in ore grades, metallurgical recoveries and throughput; failure to achieve production estimates or guidance; increases in operating costs (including energy, power and environmental compliance costs); availability of qualified personnel; risks generally associated with mineral exploration and development; the Company's ability to advance the exploration at Taguas; the Company's ability to obtain financing on acceptable terms when required; challenges to the Company's property interests and mineral rights; and legislative, regulatory, political, social and economic developments in the countries in which the Company operates. Additional risks are described in the Company's most recent Management's Discussion and Analysis and Annual Information Form, available under the Company's profile at www.sedarplus.ca.

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. Readers are cautioned not to place undue reliance on forward-looking statements.

SOURCE Orvana Minerals Corp.

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