TORONTO, May 14, 2025 /CNW/ - Orvana Minerals Corp. (TSX: ORV) (the "Company" or "Orvana") reports consolidated financial and operational results for the three and six months ended March 31, 2025 ("Q2 FY2025" and "H1 FY2025").

This news release contains only a summary of the Company's financial and operations results for the first half of fiscal 2025, and readers should refer to the full set of unaudited condensed interim consolidated financial statements for the six months ended March 31, 2025 and 2024, and accompanying management's discussion and analysis (MD&A), available on www.sedarplus.ca and on the Company's website at www.orvana.com. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.

"The Don Mario Plant Expansion Project is progressing according to plan, and we are encouraged by the construction milestones achieved to date. This initiative represents a key pillar of our near-term growth strategy and is expected to materially strengthen our production profile beginning in calendar 2026. Subject to securing the remaining project funding, we remain on track to commence ramp-up activities in the first quarter of 2026" said Juan Gavidia, CEO of Orvana.

Highlights

Bolivia:

­During Q2 FY2025, EMIPA, the Company's subsidiary in Bolivia, continued making progress on the construction of the Don Mario Plant expansion, which had commenced in the previous quarter.
­The earthworks have been completed, and current activities are focused on finalizing the reinforced concrete structures by May 2025. Significant progress is also being made in contracting the fabrication of tanks, decanters, and metal structures.
­As of April 30, 2025, approximately 20% of the project's forecasted CAPEX has been effectively paid.
­The Company expects to complete construction by the end of calendar year 2025, conditional on securing the remaining required balance of the funding during the third quarter of fiscal 2025.
Spain:

­Orovalle, the Company's subsidiary in Spain, produced 8,416 gold equivalent ounces ("GEO)(1) in Q2 FY2025, reflecting a 13% decrease compared to 9,694 GEO(1) in the previous quarter.
­The production decline was due to a 6% reduction in tonnage milled, a 4% lower gold grade, and a 10% decrease in copper grade. The grade variations are attributed to different ore blends resulting from different areas mined. The mill processed approximately 111,272 tonnes, with 28-day shutdown during the quarter — 17 days to carry out maintenance activities and 11 days according to the scheduled workforce calendar. By March 31, 2025, approximately 18,000 tonnes of ore had been stockpiled and were processed in April 2025.
­Orovalle's operational performance continues to be impacted by high absenteeism and low availability of mine equipment. The Company is actively addressing both challenges and, during Q2 FY2025, implemented a reorganization at Boinás Mine aimed at optimizing coordination between mining operations and maintenance activities.
­ Orovalle's H1 FY2025 results compared to full-year FY2025 guidance:
Orovalle
H1 FY 2025 Actual FY 2025 Guidance (2)
Metal Production
Gold (oz) 14,424 37,000 – 41,000
Copper (million lbs) 2.0 2.4 – 2.7
Capital Expenditures (USD thousands) $4,091 $14,000 -$16,000
Cash operating costs (by-product) ($/oz) gold(1) $1,687 $1,550 - $1,650
All-in sustaining costs (by-product) ($/oz) gold(1) $2,052 $2,000 - $2,150

­Orovalle is targeting to reach the lower end of its annual gold production guidance of 37,000 - 41,000 Oz, and exceed the higher end of the copper production guidance of 2,400 – 2,700 K lbs. In terms of capital expenditures, Orovalle expects to reach the lower end of its annual guidance. Cash Operating Costs (COC) and All-In Sustaining Costs (AISC) guidance will be revisited at the end of the third quarter, depending on the evolution of the EUR/USD exchange rate. Since Orovalle's costs are incurred in EUR, its unitary costs in USD are materially affected by fluctuation in the exchange rate.
­In Q2 FY2025, Orovalle drilled 3,121 meters at its El Valle mine to define new resources and with the objective of converting inferred resources into indicated resources. Additionally, 1,380 meters were drilled at Ortosa-Godán, a project located three kilometers northwest of the Company's Carlés mine, within the same gold belt. Drilling activities are currently ongoing at both El Valle mine and Ortosa-Godán.
Argentina:

­Orvana is repositioning the strategy of its Taguas Project, located in the San Juan province, now potentially including current sulphides resources, plus deep copper-gold porphyry opportunities.
­During Q2 FY2025, the Company continued to work on updating its geological modeling, with key objectives focused on enhancing the understanding of the oxide-sulfide transition zone, analyzing alteration zoning using infrared spectroscopy, and interpreting current drilling data.
­The 1,500 m geophysical work planned for the second quarter has been rescheduled for early in the Southern Hemisphere summer due to administrative setbacks in obtaining authorization from the custom authorities.
Selected Operational and Financial Information. see & read more on
https://www.orvana.com/English/news/news-details/2025/ORVANA-REPORTS-CONSOLIDATED-FINANCIAL-RESULTS-FOR-THE-SECOND-QUARTER-OF-FISCAL-2025/default.aspx