Mr. John Varnell reports

FAIRFAX ANNOUNCES ACQUISITION OF ADDITIONAL ORLA MINING LTD. COMMON SHARES

Fairfax Financial Holdings Ltd. has acquired, through its insurance company subsidiaries, 26,582,275 common shares of Orla Mining Ltd. resulting from the conversion of an aggregate amount of $150-million (U.S.) principal amount of senior unsecured convertible notes of Orla, which were converted into common shares of Orla upon the election of Fairfax at a conversion price per common share of $7.90 pursuant to the terms of the notes.

The conversion shares represent approximately 7.1 per cent of the issued and outstanding common shares of Orla and brings Fairfax's total holdings, through its insurance subsidiaries, of Orla's securities to 58,399,504 common shares and 17,544,302 warrants, which allow Fairfax to acquire up to 17,544,302 common shares at an exercise price of $11.50 per warrant, representing approximately 15.7 per cent of the issued and outstanding common shares (on a non-diluted basis) and approximately 19.5 per cent of the issued and outstanding common shares (on a partially diluted basis, assuming exercise of the warrants). Immediately prior to the conversion of the notes into conversion shares, Fairfax, through its insurance company subsidiaries, beneficially owned and controlled: (i) 31,817,229 common shares; (ii) $150-million (U.S.) principal amount of notes; and (iii) 17,544,302 warrants, representing approximately 9.2 per cent of the issued and outstanding common shares (on a non-diluted basis) and approximately 19.5 per cent of the issued and outstanding common shares (on a partially diluted basis, assuming conversion of the notes and exercise of the warrants).

Fairfax holds the common shares and warrants for investment purposes and in the future, it may discuss with management and/or the board of directors of Orla any of the transactions listed in clauses (a) to (k) of Item 5 of Form 62-103F1 of National Instrument 62-103 -- The Early Warning System and Related Take-over Bid and Insider Reporting Issues and it may further purchase, hold, vote, trade, dispose or otherwise deal in the securities of Orla, in such manner as it deems advisable to benefit from changes in market prices of Orla securities, publicly disclosed changes in the operations of Orla, its business strategy or prospects or from a material transaction of Orla, and it will also consider the availability of funds, evaluation of alternative investments and other factors.

Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. Fairfax's head and registered office is located at 95 Wellington St. West, suite 800, Toronto, Ont., M5J 2N7.