Mr. Juan Gavidia reports

ORVANA REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE THIRD QUARTER OF FISCAL 2023

Orvana Minerals Corp. has released its consolidated financial and operational results for the quarter ended June 30, 2023.

This news release should be read in conjunction with the Company's Management's Discussion and Analysis, unaudited Financial Statements and Notes to unaudited Financial Statements for the corresponding period, which have been posted on the Orvana Minerals Corp. SEDAR profile at www.sedar.com, and which are also available on the Company's website at www.orvana.com. All figures are in U.S. dollars unless otherwise noted.

"We are pleased to highlight that while Orovalle operational performance is meeting expectations, we continue lowering its COC. Exploration activities continue at Ortosa Godan, which could be developed as another satellite deposit", said Orvana CEO Juan Gavidia. "Orvana remains focused on developing the Oxides Stockpile Project in Bolivia. EMIPA is currently working on finalizing the financing structure for the project. Subject to sufficient funding, we expect construction to start in the first quarter of 2024", he added.

Operating Highlights for the third quarter of Fiscal 2023:

Orovalle:

11,522 gold ounces produced, on track to meet low range of fiscal year 2023 guidance of 46,000 - 51,000 Oz, with higher throughput planned for the fourth quarter of the fiscal year when compared to previous quarters.

0.8 million copper pounds produced, on track to meet high range of fiscal year 2023 guidance of 4,000 - 4,400 K lb.

Orovalle is on track to meet fiscal 2023 unitary costs guidance. Capital expenditures are expected below the low range due to the timing of El Valle TSF projects, deferring capital expenditures planned for fiscal 2023 to fiscal 2024.

EMIPA:

Don Mario continues in care and maintenance ("C&M") while the Oxides Stockpile Project ("OSP") continues advancing, with the current main focus being its project financing.

During the second quarter of fiscal 2023, EMIPA advanced the process for the issuance of a $47 million Bond Program in the Bolivian stock market. Conditional upon closing the Bonds Program issuance and completing the remaining funding requirements, EMIPA expects OSP construction to start in the first quarter of fiscal 2024. OSP is projected to operate for 35 months, starting after a 13-month construction period.

Orvana Argentina:

Orvana is analyzing a strategic option to combine Oxides and Sulphides in a larger undertaking strategy. Fiscal 2023 is being dedicated to enhance the analytics of the sulphides zone of the deposit. Once the oxides - sulphides combined opportunity is understood, a potential infill drilling campaign will be designed.

ABOUT ORVANA - Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the producing El Valle and Carles gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, currently in care and maintenance, and the Taguas property located in Argentina. Additional information is available at Orvana's website (www.orvana.com).

We seek Safe Harbor.