- All Amounts in US Dollars Unless Otherwise Stated

FY2021 Consolidated Financial Highlights:

$106 M Revenue
$20 M EBITDA
$14 M CAPEX
$11 M EoY Unrestricted Cash
FY2021 Orovalle Highlights:

63 K Au Oz Eq produced (47.4 K Au Oz, 6.3 M Cu lb and 166 K Ag oz)
COC at $1,043 and AISC at $1,376
FY2022 Orovalle Guidance:

Gold: 48K – 53 K Au Oz
Copper: 5.8 M – 6.5 M Cu lb
COC and AISC: $1,050 - $1,150 and $1,550 – $1,700
CAPEX: $22 M – $25 M
Juan Gavidia, CEO of Orvana Minerals Corp. stated: "We are pleased to close fiscal 2021 with a strong operational and financial performance. EBITDA of USD20M allowed the Company to internally fund exploration and development strategies in Spain, Argentina and Bolivia. Looking ahead to fiscal 2022, continued cash flow generation coupled with the new cost-competitive financing in Spain, will allow us to successfully advance the "Organic Growth Strategy" for all of our three units".

TORONTO, Nov. 30, 2021 /CNW/ - Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") announced today financial and operational results for the fourth quarter and for the fiscal year ended September 30, 2021 ("FY2021"), and the approval of a €15 million syndicated loan in Spain.

The audited consolidated financial statements for FY2021 and Management's Discussion and Analysis related thereto are available on SEDAR and on the Company's website at www.orvana.com.

FY2021 Highlights:

Orovalle Operation, Spain:
Consolidated production of 63,108 gold equivalent ounces (47,413 gold ounces, 6.3 million copper pounds and 166,427 silver ounces).
Metal production was slightly below fiscal 2021 Guidance mainly due to the mid-August Plant stoppage caused by the assessment of corrective measures to the tailings pumping circuits, which was impacted by the failure of a legacy open-pit wall. Underground mining continued operating throughout the plant stoppage, generating a stockpile that will be the basis to catch-up fiscal 2021 delayed production into fiscal 2022.
Gold production was 47,413 ounces, 7% lower than previous year. Production decrease was due to 10% lower head grade, partially off-set by 3% higher throughput. Gold head grade was 2.45 g/t, compared to 2.71 g/t reported last year.
Copper production was 6.3 million pounds, 12% higher than previous year. Production increase was due to 3%, 6% and 2% higher throughput, head grade and recoveries respectively. Copper head grade was 0.53%, compared to 0.50% reported last year.
The Company drilled 28,349 meters in fiscal 2021 (23,553 meters were drilled in El Valle Boinás, 2,738 meters in Carlés, 1,017 meters in Lidia and 1,041 meters in Ortosa-Godán).
EMIPA Operation, Bolivia:
Don Mario operation continues in care and maintenance ("C&M"), transitioning to the Oxides Stockpile Project (plant overhaul to treat a 2 million tones stockpile accumulated from previous years of mining activity).
Critical areas of the C&M program in place are: site security, environmental control, power generators maintenance, preventive maintenance of process plant, preventive maintenance of mine equipment and maintenance of camp facilities.
The Oxides Stockpile Project ("OSP") quality assurance (metallurgical) testing has been completed in the second half of November 2021 with very satisfactory results, summarized below:
Metal recoveries (*)

Gold 88.96%

Copper 70.27%

Silver 70.31%

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https://www.orvana.com/English/news/news-details/2021/Orvana-Reports-FY2021-Results--FY2022-Guidance-and-Annouces-a-New-15-Million-Syndicated-Loan/default.aspx