Mr. Juan Gavidia reports

ORVANA COMPLETES REPAYMENT OF EMIPA BONDS I, PROVIDES UPDATE ON ITS BOLIVIAN SUBSIDIARY, AND ANNOUNCES PARTICIPATION IN THE 2026 PRECIOUS METALS SUMMIT IN ZURICH

Orvana Minerals Corp.'s Bolivian subsidiary, Empresa Minera Paititi SA (EMIPA), has repaid EMIPA Bonds I in full at maturity and provided an update on EMIPA Bonds II and the ramp-up of the oxides stockpile project at the Don Mario operation. The company also announces its participation in the 2026 Precious Metals Summit Zurich, taking place from Nov. 9 to Nov. 11, 2026.

Juan Gavidia, chief executive officer of Orvana, commented: "The full repayment of EMIPA Bonds I at maturity is an important milestone for the company, reflecting our commitment to meeting our obligations to our lenders. We remain focused on progressively reducing the debt incurred to fund the investment in the Don Mario plant expansion, in accordance with the agreed terms.

"As the Don Mario ramp-up progresses, we are pleased with the positive trend in metal production. Our priorities for November and December are to further increase throughput while continuing to optimize metallurgical recoveries and reagent consumption.

"We look forward to participating in the 2026 Precious Metals Summit Zurich and sharing the progress of our operations and projects in Bolivia, Spain and Argentina with investors, stakeholders and the broader community."

EMIPA bonds

EMIPA Bonds I (as more fully described in the company's most recently filed unaudited interim financial statements available on SEDAR+ and the company's website) matured on Nov. 7, 2026, and EMIPA made the fifth and final payment of coupon in accordance with the terms of the program. As a result, EMIPA has fully satisfied its scheduled debt service obligations under EMIPA Bonds I and will proceed with the necessary formalities to complete the release of the guarantees securing the program.

EMIPA Bonds II (as more fully described in the company's most recently filed unaudited interim financial statements available on SEDAR+ and the company's website) remains outstanding and is scheduled to mature on Feb. 19, 2027.

As previously disclosed in the company's news release dated Nov. 2, 2026, EMIPA's financial covenant ratios under EMIPA Bonds I and EMIPA Bonds II as at Sept. 30, 2026, were outside the thresholds required under the terms of the bonds, and EMIPA has a cure period under the terms of the bonds to restore compliance. With the repayment of EMIPA Bonds I, the cure period now relates only to EMIPA Bonds II.

EMIPA continues to work during the cure period to restore compliance with the applicable financial covenant ratios or, in consultation with its bondholders, to consider appropriate amendments to such ratios in light of the evolving economic and foreign exchange environment in Bolivia and the progress of the oxides stockpile project. EMIPA remains fully committed to working constructively with its bondholders toward an appropriate solution. However, there can be no assurance that compliance will be restored, that any amendments to the financial covenant ratios will be agreed upon, or that any other solution will be reached within the cure period or any extension thereof. If the matter is not resolved within the cure period or any extension thereof permitted under the terms of EMIPA Bonds II, bondholders would be entitled to exercise the rights available to them under the program.

EMIPA operational update

The company reports the following October, 2026, production results for the Don Mario operation in Bolivia, which is managed by the company's Bolivian subsidiary, EMIPA.

During October, throughput increased progressively over the course of the month, averaging more than 900 tonnes per day during the final week. This improvement was supported by measures implemented to enhance filtration performance, primarily the installation and adjustment of new filter cloths on two of the plant's three filter units by mid-October. The third filter was fitted with the new filter cloths on Nov. 1, 2026.

EMIPA expects to continue testing higher throughput levels during November, targeting approximately 1,400 tonnes per day, subject to satisfactory operating and metallurgical performance. The ramp-up will continue to be managed in a controlled manner, with plant performance and stability assessed as throughput increases. Subject to satisfactory results, EMIPA expects to further increase throughput during December toward the plant's design capacity of approximately 1,700 tonnes per day, with the ramp-up currently expected to be completed by the end of December, 2026.

In parallel with the progressive increase in throughput, EMIPA is focused on optimizing metal recoveries and unit consumption of sulphuric acid and other reagents. Several additional opportunities to improve plant productivity are also being evaluated, with further updates to be provided as appropriate based on results and progress.

Qualified person

The scientific and technical information in this news release related to the company's EMIPA operation has been reviewed and approved by Luis Isla, chief of geology of EMIPA, a qualified person as defined under National Instrument 43-101 and an employee of EMIPA, a subsidiary of Orvana, and is not independent of the company.

2026 Precious Metals Summit Zurich

Orvana is pleased to announce its participation in the 2026 Precious Metals Summit Zurich, to be held from Nov. 9 to Nov. 11, 2026, in Zurich, Switzerland. Raul Alvarez, director of exploration and technical services, and Nuria Menendez, chief financial officer, will represent the company at the event.

Detailed information regarding the event is available on the 2026 Precious Metals Summit Zurich event page.

Mr. Alvarez will present an overview of Orvana's operations, projects and strategic priorities on Nov. 9, 2026, at 4 p.m. CET. The presentation will be available by webcast.

The company's participation will also include meetings with investors and industry participants.

Orvana's updated corporate presentation, providing an overview of the company's operations and projects, is available on the company's website.

Consolidated operational and financial performance

Q4 fiscal 2026 consolidated operational and financial highlights will be released with the audited annual financial statements and MD&A (management discussion and analysis) for fiscal 2026, expected to be published in late November, 2026.

About Orvana Minerals Corp.

Orvana is a multimine gold-copper-silver company. Orvana's assets consist of the producing Orovalle operation in northern Spain; the Don Mario operation in Bolivia; and the Taguas project, located in Argentina.

We seek Safe Harbor.