Mr. Juan Gavidia reports

ORVANA ANNOUNCES NEW STRATEGIC THREE-TIERED EXPLORATION PROGRAM FOR ITS TAGUAS PROJECT IN ARGENTINA

Orvana Minerals Corp. has provided an overview of its planned fiscal 2027 exploration program for the Taguas project in San Juan province, Argentina. The company is participating in the Precious Metals Summit at Beaver Creek, Colo., and the Mining Forum Americas at Colorado Springs, Colo., where management will present the planned program for Taguas.

"Mining is about pursuing strategic opportunities at the right time, and our Taguas project reflects that. For the upcoming exploration season in late 2026 and early 2027, we are advancing a three-tiered approach: integrating geophysics at the Evelina prospect adjacent to Taguas, conducting near-surface infill drilling to further define our oxide resources and undertaking deep drilling to test the potential of the interpreted porphyry copper-gold system at depth," said Juan Gavidia, chief executive officer of Orvana.

Taguas project -- fiscal 2027 exploration program

The Taguas project, located in San Juan province, Argentina, comprises the original Taguas property, acquired by Orvana in 2019, and the Evelina property, acquired in 2026. Readers are referred to the company's annual information form (AIF) for the fiscal year ended Sept. 30, 2025, as well as the interim MD&As (management discussions and analyses) and news releases issued during fiscal 2026 for a comprehensive description of the Taguas project, its historical development and the detailed exploration activities completed during fiscal 2026. These documents are available on SEDAR+ and on the company's website.

The fiscal 2027 program is designed to advance Orvana's understanding of the broader Taguas project mineral system while supporting the potential future development of the project. The fiscal 2027 program combines three complementary objectives:

1. Advancing the geological understanding of the deeper portions of the Taguas property and evaluating the potential for additional mineralization at depth;
2. Completing infill drilling within the oxide resource area with the objective of upgrading Taguas property mineral oxides resources to the measured and indicated categories, which could support a future update of the preliminary economic assessment dated 2021, available on SEDAR+ and on the company's website;
3. Reviewing and integrating historical geological data from the recently acquired Evelina property into the broader exploration strategy for the Taguas project.

The fiscal 2027 program is expected to include the following principal phases and activities.

Evelina property integration

The company is advancing the compilation, review and interpretation of historical geological, geochemical and drilling data from the Evelina property, acquired in 2026.

Available data sets from Evelina will be integrated into a consolidated geological model covering both the original Taguas property and the Evelina property.

This work is expected to enhance the company's understanding of the broader mineral system.

Structural mapping

The company plans to undertake detailed structural mapping focused on the collection and interpretation of kinematic indicators to better understand fault movements, structural architecture and the evolution of the hydrothermal system.

This work is expected to assist in defining major structural corridors, uplifted and downdropped blocks, and the principal geological controls on mineralization.

The integration of structural data with geological, geophysical and drilling data sets is expected to improve target prioritization and support the refinement of the exploration model across the broader Taguas project area.

Geophysical survey

The company plans to expand the existing magnetotelluric (MT) and induced polarization (IP) survey coverage to the north and south of the previously identified open geophysical anomaly, including selected areas within the recently acquired Evelina property.

The survey program is expected to further define the geometry, continuity and depth extent of the chargeability and resistivity anomalies identified to date, from near-surface levels to depths exceeding 1.5 kilometres.

Results from the expanded MT/IP surveys will be integrated with geological mapping, drilling information, relogging programs, SWIR (short-wave infrared) mineralogical data and petrographic studies to further refine the geological model and improve drill target definition.

Drilling

The fiscal 2027 program is initially planned to include approximately 19,500 metres of drilling, comprising 10,000 metres of oxide resource infill drilling at Cerros Taguas and 9,500 metres of deep exploration drilling targeting the interpreted porphyry copper-gold system at depth.

Oxide resource infill drilling program

The fiscal 2027 program includes approximately 10,000 metres of infill drilling within the Cerro Taguas oxide resource area.

The program is designed to increase drill density and geological confidence to support the potential conversion of portions of the current inferred oxide resources to the measured and indicated categories. Additional drilling will focus on selected higher-grade zones and areas where additional data may contribute to future resource upgrades. The program may also identify opportunities for resource expansion within and around the existing Cerros Taguas oxide deposit.

Deep drilling program

The objective of the fiscal 2027 deep drilling program is to advance the company's understanding of the interpreted porphyry copper-gold system at depth and to test a series of priority targets identified through the integration of geological, geochemical, mineralogical and geophysical data sets generated during the fiscal 2026 exploration campaign.

The preliminary budget for the fiscal 2027 program at Taguas is estimated at approximately $15-million (U.S.). The principal service providers for the planned geophysical surveys, drilling program and camp operations have already been selected, and the company is currently advancing the related contracting processes, permitting requirements and other administrative activities required to support program execution.

The planned fiscal 2027 exploration program, including its scope, budget, timing and execution schedule, remains preliminary and is subject to change. Advancement of the program will depend on a number of factors, including the receipt of required permits and authorizations, completion of contracting processes, availability of services and equipment, market conditions, and availability of financing. Accordingly, there can be no assurance that the fiscal 2027 program will be completed as currently contemplated, on the anticipated timeline or within the estimated budget. There can also be no assurance that the objectives of the fiscal 2027 program will be achieved or that the exploration activities will result in the discovery, delineation or expansion of mineral resources.

Quality assurance/quality control (QA/QC)

The scientific and technical information contained in this news release has been reviewed and approved by Raul Alvarez Cifuentes, PGeo, a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Alvarez is an employee of the company and is therefore not independent of the company.

Precious Metals Summit and Mining Forum Americas 2026

Orvana will participate in two leading mining investment conferences in Colorado during September, 2026: the Precious Metals Summit Beaver Creek, taking place from Sept. 22 to Sept. 25, 2026, and Mining Forum Americas, taking place from Sept. 27 to Sept. 30, 2026. Mr. Alvarez, director of exploration and technical services, and Nuria Menendez, chief financial officer, will represent the company at both events.

Mr. Alvarez will deliver presentations at both events.

The corporate presentation to be delivered at both the Precious Metals Summit Beaver Creek and Mining Forum Americas conferences is available on-line.

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 property in Bolivia, which is ramping up production of copper cathodes and gold-silver dore from its oxides stockpile, and the Taguas property located in Argentina.

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