Gold Recoveries At Don Mario Increase

TORONTO - Orvana Minerals Corp. reported updates for its El Valle and Carles Mines operations in northern Spain and its Don Mario Mine Complex in Bolivia.

The El Valle delivers higher gold production due to 13% increase in processed ore: Gold production improved by 11% compared to Q2 2018 and recoveries remained steady at 91.8%; Productivity enhancements at both, oxides and skarn production, allowed for delivery of higher processed ore volume and grades to the mill; Grades improved by 43% compared to Q3 2017 and remained in line with the previous quarter; Oxide production is being sustained at 39% of mill ore feed; Mechanical advance rates in oxide areas continued to improve, increasing by 20% to 1,919 meters during Q3 2018; and El Valle will be restarting a sector of the Carles Mine as a short-term project commencing in Q4 2018.

At Don Mario production from Cerro Felix continues: Gold recoveries from the Don Mario CIL plant increased to 92.4%, compared with 91.3% in the previous quarter; Gold production was 9,916 ounces, an increase of 3% compared with the previous quarter; and Ore production was impacted by lower grades in the upper level of Cerro Felix. Higher grades are expected as the lower pit areas are mined in the following quarter.

Juan Gavidia, Interim CEO said, "We are pleased with the progress at El Valle with continuing increases of mechanical advance rates, higher oxide production and processing at the mill along with increased grades year to date. We are committed to maintaining and improving on this trend since we are slightly below the challenging targets we imposed on ourselves for fiscal 2018.  At Don Mario, higher gold recoveries from the CIL process resulted in the improvement of gold production but were offset by the reduction in gold grade during the transition to the Cerro Felix area.  We are expecting higher grades from the lower pit areas in the next quarter and onwards.  We are providing slightly revised gold and copper production guidance and AISC costs this quarter, which is in line with current production, and we expect to be on track to achieve COC guidance."