Mr. Etienne Morin reports

ORLA MINING AMENDS CREDIT FACILITY

Orla Mining Ltd. has amended its existing $150-million (U.S.) credit facility with its existing syndicate of lenders comprising the Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce. The amended credit facility consists of a $150-million (U.S.) revolving term facility.

Amended credit facility highlights:

• Facility size -- $150-million (U.S.) revolving facility, with the ability to increase the facility to $200-million (U.S.), subject to receipt of additional binding commitments and satisfaction of certain conditions precedent. The amended credit facility replaces the company's existing facility, which consisted of a $100-million (U.S.) term facility expiring in April, 2027, and $50 million (U.S.) revolving facility expiring in April, 2025.
• Term -- four-year term, extending the term on the company's existing revolving facility by two years. Full repayment of the facility is due upon maturity (Aug. 28, 2027).
• Interest rates -- the interest rate for the amended credit facility will be based on the term secured overnight financing rate, plus an applicable margin ranging from 2.50 per cent to 3.75 per cent based on the company's leverage ratio at the end of each fiscal quarter. This represents a 25-basis-point decrease to the lower end of the range compared with the company's previous facility. The standby fee for the undrawn portion of the facility has also been lowered from 25 per cent to 22.5 per cent of the applicable margin.

"This refinancing provides Orla with additional flexibility to lower its cost of capital while maintaining liquidity," said Etienne Morin, chief financial officer of Orla. "We would like to thank our syndicate of lenders who have continued to support Orla and have provided us with additional resources and flexibility to execute on our long-term strategy."

The amended credit facility is payable in full at maturity and removes quarterly mandatory repayments required under the previous term facility. The company has drawn $113.4-million (U.S.) under the amended credit facility with an applicable margin of 2.50 per cent based on its leverage ratio at closing.

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 three material gold projects: (1) Camino Rojo, located in Zacatecas state, Mexico; (2) South Railroad, located in Nevada, United States; and (3) Cerro Quema, located in Los Santos province, Panama. Orla is operating the Camino Rojo oxide gold mine, a gold and silver open-pit and heap leach mine. The property is 100 per cent owned by Orla and covers over 160,000 hectares containing a large oxide and sulphide mineral resource. Orla also owns 100 per cent of Cerro Quema located in Panama which includes a prefeasibility-stage, open-pit, heap leach gold project, a copper-gold sulphide resource, and various exploration targets. Orla also owns 100 per cent of the South Railroad project, a feasibility-stage, open-pit, heap leach gold project located on the Carlin trend in Nevada.

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