Ms. Nuria Menendez reports

ORVANA PROVIDES TAGUAS DRILLING UPDATE: FULL ASSAY RESULTS FROM TADD-278; SECOND HOLE RESULTS PENDING

Orvana Minerals Corp. has provided a further update on its deep drilling campaign at its 100-per-cent-owned Taguas project in San Juan, Argentina, including additional assay results beyond those previously reported on April 8, 2026, and an update on planned next steps, with laboratory analyses and supporting studies continuing.

Highlights:

• Petrographic studies completed on core samples from first drill hole TADD-278 indicate that the mineralized host rock corresponds to a dacitic porphyry.
• Intense sericitic alteration was identified, dominated by quartz-sericite-pyrite, with pyrite-rich mineralization plus associated enargite and/or chalcopyrite in disseminations and veinlets, supporting a porphyry-related system.
• Complete lab results from TADD-278 (Table 1) highlight a 205-metre (downhole length; true widths not yet determined) interval (715 to 920 metres) with 0.25 gram per tonne gold and 0.12 per cent copper.
• Completion of second drill hole TADD-279 assay results, plus VNIR-SWIR Terraspec measurements and geochronological studies, is expected over the coming months to position Orvana for its October, 2026, to April, 2027, drilling campaign.

Raul Alvarez Cifuentes, director of exploration and technical services of Orvana, commented: "The latest drilling and ongoing technical studies continue to support our interpretation of a deep porphyry-related system at Taguas. The integration of VNIR-SWIR Terraspec data, geochemistry and geological interpretation is helping us to vector toward the core of the system and refine targets for the next drilling phase."

Strategic context:

• The company has expanded its evaluation of the Taguas project beyond the near-surface oxidized gold-silver resource outlined in the 2021 preliminary economic assessment (dated Dec. 29, 2021, available on SEDAR+) to include the underlying sulphide mineralization and potential porphyry-style copper-gold mineralization.
• The company completed an updated geological model for the Taguas project and conducted a geophysical survey, designed to identify potential deeper targets to a depth of 1,500 metres.
• Results from the geophysical survey, combined with the recent review of historical exploration data, have been used to prioritize key targets for the initial deep drilling.

Deep drilling results to date:

• The fiscal 2026 program comprised two drill holes, totalling 2,173.7 metres drilled. The first drill hole, TADD-278, reached 1,331.7 metres and the second hole, TADD-279, reached 842 metres. The program has been concluded in anticipation of the winter season. The second drill hole has been cased, preserving the option to resume and continue drilling during the next summer field campaign.
• Petrographic studies completed on drill core samples from hole TADD-278 indicate that the mineralized host rock corresponds to a dacitic porphyry. The analyzed intervals display a well-developed porphyritic texture characterized by quartz, plagioclase and subordinate mafic phenocrysts set within a strongly silicified and sericitized groundmass, consistent with a hydrothermal porphyry system.
• The studies also identified intense sericitic alteration assemblages dominated by quartz-sericite-pyrite. Ore mineralization is primarily composed of pyrite with associated enargite and/or chalcopyrite, occurring as disseminations and veinlet fillings, further supporting the interpretation of a dacitic porphyry-related hydrothermal system.
• Complete lab results from TADD-278 (Table 1), highlighting interval from 715 to 920 metres, returned 0.25 gram per tonne gold and 0.12 per cent copper over 205 metres (downhole length). Chalcopyrite occurs only in trace amounts while pyrite dominates. Assay data and identified mineralogy support the interpretation that drilling remains within the upper to intermediate levels of the mineralized system.

The most significant intercepts from drill hole TADD-278 are detailed in Table 1 below.

Next steps

Laboratory analyses for TADD-279 and related technical interpretation are in progress; results will be disclosed as additional data become available.

VNIR-SWIR Terraspec measurements will be extended to all drill core footage completed during the 2026 drilling campaign, ensuring a consistent and comprehensive spectral database across the project. VNIR-SWIR spectroscopy identifies key alteration minerals and spectral parameters that help vector toward areas of higher temperature and stronger magmatic influence, indicating the proximity of concealed porphyry intrusions beneath the system.

The company also plans to undertake appropriate geochronological studies on selected drill core samples in order to constrain the timing of the different porphyry intrusion phases and better understand the temporal evolution of the hydrothermal system.

The integration and interpretation of all spectral, geological, geochemical, geochronological and historical drilling data will provide a robust framework for vectoring toward the central core of the mineralized system, supporting the design and targeting of the next drilling campaign.

Quality assurance/quality control (QA/QC)

Samples were prepared and analyzed by Alex Stewart International Argentina SA Laboratory in Mendoza. This laboratory is ISO 9001; ISO 17025 and ISO 14001 certified. Samples were prepared following the P-5 laboratory preparation code: The samples were dried, crushed to passing 10 mesh (greater than 80 per cent), riffle split off one-kilogram sample and pulverized to 106 microns (greater than 95 per cent). The assays included 50-gram gold by fire assay (FA), AA finish, and 39-element package with aqua regia dilution and ICP-OES finish. Overlimits for gold and silver were run in 50-gram sample by FA and gravimetric method finish. Coarse and pulp rejects were returned and are stored in a storage facility in Mendoza, Argentina.

The reported work has been completed using industry-standard procedures, including a QA/QC program consisting of the insertion of quarter-core field duplicates, coarse duplicates split after laboratory crushing, pulp duplicates split after laboratory pulverization, coarse analytical blank samples and two different CRMs (certified reference materials) inserted in batches of roughly 50 samples.

This exploration update has been prepared under the supervision of Mr. Alvarez, a qualified person as defined under National Instrument 43-101. Mr. Alvarez is an employee of the company and therefore is not independent of the company.

The qualified person has reviewed and verified the technical data disclosed in this news release. Drilling was conducted using diamond drilling methods.

About Orvana Minerals Corp.

Orvana is a multimine 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 operation in Bolivia and the Taguas property located in Argentina.

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