23:35:14 EST Sat 07 Feb 2026
Enter Symbol
or Name
USA
CA



Orla Mining Ltd
Symbol OLA
Shares Issued 337,560,070
Close 2025-11-07 C$ 13.94
Market Cap C$ 4,705,587,376
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Orla Mining et al. set up $6.6M fund for first nations

2025-11-10 14:17 ET - News Release

Ms. Silvana Costa reports

FIRST NATION LP, NEWMONT, AND ORLA ANNOUNCE C$6.6 MILLION EDUCATION, TRAINING, AND SKILLS DEVELOPMENT FUND FOR 24 FIRST NATIONS IN NORTHWESTERN ONTARIO

First Nation LP (FNLP), Newmont Corp. and Orla Mining Ltd. have established a $6.6-million education, training and skills development fund, which will be administered by Opiikapawiin Services LP (OSLP), a service organization 100 per cent owned by 24 first nations. This investment will support members of the 24 first nations in Northwestern Ontario with opportunities to advance their skills, careers and cultural practices. The $6.6-million will be contributed over a 10-year period. Orla Mining is the owner and operator of the Musselwhite mine located in Northwestern Ontario.

The fund will support a broad range of programs that advance education, careers and cultural revitalization, including career development, trades training, mentorship, land-based learning, literacy, STEM (science, technology, engineering and mathematics) initiatives, scholarships, and access to digital tools and technology.

"This fund builds on a long-standing partnership that shows what is possible when we work together with a shared goal of seeing communities succeed. It ensures that our youths today have the opportunity to gain the education, training and knowledge needed for them to take charge of building a bright and prosperous future. We would like to extend our heartfelt thanks to Newmont Corp. and Orla Mining Ltd. for choosing to contribute to this fund and reinvest in our communities. Through this initiative, we're creating another avenue for future generations to thrive through lasting change while ensuring the vision of our elders and ancestors continues to be carried forth," stated Eliezar McKay, chair of FNLP.

This initiative builds on a long-standing partnership between FNLP and Musselwhite mine, previously owned by Newmont (formerly Goldcorp) and now by Orla.

The 24 first nations equally own 51 per cent of Wataynikaneyap Power, along with Fortis Inc. and other private investors. First nations have been working on energy security as a regional issue for over 30 years. Goldcorp's primary interest in becoming involved was to meet its power needs while supporting first nation ownership. It provided financing for predevelopment costs to supplement first nation capacity in the project. Goldcorp's early investment helped catalyze the development of one of Canada's most significant indigenous-led infrastructure initiatives. Today, the Wataynikaneyap Power transmission system is transmitting cleaner, more reliable electricity to remote first nations in Northwestern Ontario, replacing diesel generation and significantly improving quality of life across the region.

Rather than seeking payment on the promissory note set up for predevelopment costs in the project, Newmont and Orla agreed to direct the funds back into the region through a new charitable organization. Community members seeking to further enhance their education and skills development will have another option for support.

"It is important for Orla to support and contribute to the momentum and priorities established by the member nations of FNLP. We are proud to be building on these historic partnerships with indigenous communities in Northern Ontario and recognize that true partnership means working together with respect, understanding and a shared purpose. The development fund will leverage one unifying project and transform it into the next, and we hope the generation of youth that participate in these new opportunities will in turn be able to do the same. We look forward to being part of this next chapter in the region," stated Silvana Costa, chief sustainability officer of Orla Mining.

"Although Newmont has since divested our assets in Ontario, our commitment to lasting, positive impact remains. This investment honours the spirit of partnership that shaped our time in the region and looks ahead -- supporting youth, education and indigenous-led development for generations to come," stated David Thornton, managing director of Newmont Americas.

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 projects, consisting of two operating mines and one development project, all 100 per cent owned by the company: (1) Camino Rojo, in Zacatecas state, Mexico, an operating gold and silver open-pit and heap-leach mine (the property covers over 139,000 hectares and contains a large oxide and sulphide mineral resource); (2) the Musselwhite mine, in Northwestern Ontario, Canada, an underground gold mine that has been in operation for over 25 years and produced over six million ounces of gold, with a long history of resource growth and conversion; and (3) South Railroad, in Nevada, United States, a feasibility-stage, open-pit, heap-leach gold project located on the Carlin trend in Nevada. The technical reports for the company's material projects are available on Orla's website and on SEDAR+ and EDGAR under the company's profile.

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