Mr. Jason Simpson reports

ORLA MINING ANNOUNCES INAUGURAL DIVIDEND AND QUARTERLY DIVIDEND PROGRAM

Orla Mining Ltd.'s board of directors has declared an inaugural quarterly cash dividend of 1.5 U.S. cents per common share of the company, which is payable on Feb. 10, 2026, to shareholders of record as at the close of business on the record date of Jan. 12, 2026. The board of directors has also approved a policy under which the company intends to pay a regular quarterly dividend of 1.5 U.S. cents per share, or six U.S. cents per share annually. The decision underscores the company's strong financial strength, confidence in its long-term growth strategy and commitment to returning capital to shareholders.

This new dividend policy is a direct reflection of the company's disciplined approach to balancing strategic growth investments with direct shareholder returns. In particular, the company is well positioned to finance the construction of the South Railroad gold project along with its other internal growth initiatives while also providing shareholder returns in the form of a dividend.

"This initial return of capital represents a significant milestone in Orla's growth. Our rapid evolution from exploration to a diversified gold producer reflects both the strength of our strategy and the discipline of our execution. As construction of the South Railroad project moves forward in 2026/2027, we will be operating in three countries across North America with a continued focus on generating sustainable value for our shareholders," said Jason Simpson, president and chief executive officer.

The dividend is designated as an eligible dividend for Canadian income tax purposes.

The declaration, amount and payment of future dividends remain subject to the discretion of the board of directors, and will depend upon the company's financial results, capital requirements, business conditions and other factors. The company will review the dividend policy on a continuing basis and may amend it at any time depending on the company's then current financial position, capital allocation framework, profitability, cash flow, debt covenant compliance, legal requirements and other factors considered relevant. As such, aside from the inaugural dividend, no assurance can be made that any future dividends will be declared and/or paid.

Based on the company's closing share price of $13.35 (U.S.) per share on the NYSE American on Dec. 3, 2025, the quarterly dividend declared implies a forward annualized dividend yield of 0.45 per cent. Based on 340 million shares outstanding as of Dec. 3, 2025, the total dividend to be paid in February, 2026, is expected to be approximately $5.1-million (U.S.).

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, which contain a large oxide and sulphide mineral resource; (2) 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.

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