Mr. Jason Simpson reports

ORLA MINING ANNOUNCES CLOSING OF C$75,030,000 BOUGHT DEAL FINANCING

Orla Mining Ltd. has closed its previously announced bought deal financing with a syndicate of underwriters led by Stifel GMP, and including Desjardins Capital Markets, Paradigm Capital and Cormark Securities Inc. A total of 36.6 million common shares of Orla were fully subscribed and sold at a price of $2.05 per common share for aggregate gross proceeds to the company of $75.03-million.

The net proceeds from the offering will be used for the development and construction activities at the Camino Rojo oxide gold project, projected payments related to the proposed lay-back agreement with Fresnillo PLC, and general corporate purposes (as more fully described in the prospectus supplement dated March 30, 2020).

The common shares were qualified for distribution pursuant to the prospectus supplement and a short-form base-shelf prospectus dated March 11, 2019, filed in each of the provinces and territories of Canada, except Quebec, and offered and sold elsewhere outside of Canada on a private-placement basis.

In conjunction with the closing of the offering, the underwriters have given notice to the company that the overallotment option will not be exercised.

Multilateral Instrument 61-101

Newmont Corp. and Agnico Eagle Mines Ltd. each subscribed for such number of common shares under the offering so as to maintain their current ownership positions of approximately 18.4 per cent and 9.4 per cent, respectively.

Jason Simpson, Jean Robitaille, George Albino, Chuck Jeannes, David Stephens and Elizabeth McGregor are directors or officers of the company, and Newmont, Agnico Eagle and Pierre Lassonde are insiders of the company, and subscribed for an aggregate of 16,600,900 common shares. Such participation in the offering constitutes a related-party transaction for the purposes of MI 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemption from the formal-valuation and minority-approval requirements set out in sections 5.5(a) and 5.7(a) of MI 61-101 as the fair market value, insofar as it relates to interested parties, is not more than 25 per cent of Orla's market capitalization. The company did not file a material-change report 21 days prior to the closing of the offering as the participation of insiders of the company in the offering had not been confirmed at that time.

Update on COVID-19 pandemic

The government of Mexico has followed the pattern of other nations and, on April 1, 2020, implemented a 30-day suspension of all non-essential services until April 30, 2020, in response to the COVID-19 pandemic.

Prior to this suspension, Orla had not yet started construction-mobilization activities and site personnel were already reduced as a precaution. Nearly all activities are continuing remotely, as planned, including detailed engineering, procurement and other functions that can continue to operate safely with distancing. Site activities are expected to resume when approved and safe to do so, including the start of construction as planned early in the second half of 2020. As a result of this 30-day suspension, Orla expects a delay relating to the receipt of its final environmental permit as government agencies also comply with the suspension. Orla had built contingency in the construction schedule for unknown factors and, at this point, does not expect any material impacts to the business.

About Orla Mining Ltd.

Orla is developing the Camino Rojo oxide gold project, an advanced gold and silver open-pit and heap-leach project, located in Zacatecas, central Mexico. The project is 100 per cent owned by Orla and covers over 160,000 hectares.

We seek Safe Harbor.