Mr. Jason Simpson reports

ORLA MINING CLOSES ACQUISITION OF CONTACT GOLD

Orla Mining Ltd. has completed the previously announced acquisition of Contact Gold Corp. by way of court-approved plan of arrangement.

As a result of the completion of the transaction, Orla acquired all of the issued and outstanding Contact Gold common shares and Contact became a wholly owned subsidiary of Orla. Former Contact Gold shareholders received, in exchange for each Contact share held immediately prior to the effective time of the transaction, 0.0063 of an Orla common share under the terms of the transaction. The Contact shares will be delisted from the TSX Venture Exchange and an application has been made for Contact to cease to be a reporting issuer in all provinces and territories of Canada, other than Quebec.

Contact's key asset is the 100-per-cent-owned Pony Creek property, a 4,500-hectare exploration land package strategically located adjacent to Orla's South Railroad property in the heart of the Carlin trend in Nevada. Contact also owns the Green Springs property, located in the southern end of the Cortez trend. Green Springs is an early-stage exploration project which is subject to an earn-in right held by Centerra Gold Inc., whereby Centerra has the right to acquire 70 per cent of the project through the completion of a four-year, $10-million exploration program. Orla has begun integrating Pony Creek into the company's exploration activities and intends to increase the exploration budget by $3-million to enhance continued exploration efforts of the company. This additional expenditure will increase the total 2024 exploration spend at South Railroad to $14-million.

About Orla Mining Ltd.

Orla's corporate strategy is to acquire, develop and operate mineral properties where the company's expertise can substantially increase stakeholder value. The company has two material gold projects: (i) Camino Rojo, located in Zacatecas state, Mexico; and (ii) South Railroad, located in Nevada, United States. Orla is operating the Camino Rojo oxide gold mine, a gold-silver open-pit and heap-leach mine. The property is 100 per cent owned by Orla and covers over 130,000 hectares which contain a large oxide and sulphide mineral resource. Orla is also developing the South Railroad project, a feasibility-stage, open-pit, heap-leach gold project located on the Carlin trend in Nevada.

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