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Orvana Minerals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  170 University Avenue Suite 900
Toronto, Ontario
Canada M5H 3B3
Tel No.: (416) 369-1629
Fax No.: (416) 369-1402
Web Site: www.orvana.com
E-mail: jhillis@orvana.com
Contact Person: Jeffrey Hillis
Position: Chief Financial Officer


Company Data

Traded Market: TSX
Traded Symbol: ORV
Outstanding Shares: 136,623,171
52 Week High: $ 0.385
52 Week Low: $ 0.16
Present Price: Click Here


Introduction

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Orvana Minerals Corp. is an established mine operator with significant growth opportunities in Europe and the Americas. Operations include the El Valle and Carlés gold-copper-silver mines in northern Spain and the Don Mario gold-copper-silver mine in Bolivia.


Projects in Hand

(1) El Valle/Carlés “El Valle Mine” Gold-Copper-Silver Project, Northern Spain

The El Valle/Carlés gold-copper-silver project is located in the Rio Narcea Gold Belt in Northern Spain and was previously mined from 1997 to 2006 by Rio Narcea Gold Mines. Rio Narcea produced nearly 1,000,000 ounces of gold and over 20,000 tonnes of copper prior to the closure of the mine.

Background

  • Underground operations commissioned 2011
  • Excellent regional infrastructure
  • Experienced operating team
  • 2 mines:
    • El Valle, operating continuously since 2011
    • Carlés re-started on a project basis in Q4 2016

Investing to Optimize Future Production

  • Secured $12.5 million in pre-payment financing in FY 2016 to fund investments
  • Enhance mine plan flexibility
    • Access higher grade oxide zones
    • Improve backfill and development rates
  • Process plant with 2,000 tpd capacity
    • Nameplate capacity achieved December 2017
    • Increasing flexibility to sustain objective of 2,000 TPD
  • Expanding portfolio of exploration targets
    • In-mine and regional

El Valle Underground Mine Overview

Ownership

100%

FY 2016 Au / Cu Production

Q1 2017 Au / Cu Production

44,682 Au oz / 4.3M Cu lbs

10,723 Au oz / 0.8M Cu lbs

2017 Guidance

50 – 55,000 Au oz / 6.0 – 6.5M Cu lbs

FY 2016 COC / AISC

Q1 2017 COC / AISC

$1,172 / $1,468 oz Au

$1,640 / $2,141 oz Au

Q1 2017 Plant Recoveries

92.4% Au / 69.3% Cu

Plant Capacity

2,000 tpd

Q1 2017 Grade

2.23 gpt Au / 0.34% Cu

COC: cash operating costs

AISC: all-in-sustaining costs


El Valle Reserves & Resources

El Valle Mineral Reserve Estimates – Sept. 30, 2016

Tonnes

Grade

Contained Metal

Category

(000's)

Au

(g/t)

Cu

(%)

Ag

(g/t)

Au Ounces

(000's)

Cu Tonnes

(000's)

Total Proven Reserves

1,334

2.49

0.63

13.06

106.9

8.4

Total Probable Reserves

1,231

4.13

0.39

8.98

163.3

4.8

Total P+P Reserves

2,565

3.28

0.52

11.10

270.2

13.2

El Valle Mineral Resource Estimates* – Sept. 30, 2016

Tonnes

Grade

Contained Metal

Category

(000's)

Au

(g/t)

Cu

(%)

Ag

(g/t)

Au Ounces

(000's)

Cu Tonnes

(000's)

Total Measured Resources

3,267.7

3.04

0.69

15.24

318.9

22.6

Total Indicated Resources

3,542.3

4.95

0.49

9.96

564.3

17.5

Total M+I Resources

6,810.0

4.03

0.59

12.49

883.2

40.2

Total Inferred Resources

5,822.1

4.72

0.48

9.35

883.7

28.1

*Mineral Resources are inclusive of Mineral Reserves.

Orvana Concession Overview

El Valle located in the Rio Narcea Gold Belt

  • Investigation permits granted, pending in all belts
    • 4,298 ha Exploitation Concessions
    • 3,330 ha Investigation Permits
    • 28,588 ha pending Investigation Permits
  • Prolific mining history
    • Mined by Romans 2,000 years ago
  • Historical exploration
    • Barrick Gold
    • Rio Narcea Gold Mines
    • Anglo American

FY 2017 Plan and Targets

  • Exploration and drill program
    • Expansion of known in-mine resources
    • Targeting new resources regionally
  • Exploration activities underway on other targets – drilling, mapping, soil analysis, geochem, geophysics

(2) Don Mario Gold-Copper-Silver Project, Eastern Bolivia

The producing Don Mario mine is located in the San Juan Canton, Chiquitos Province, Santa Cruz Department, in eastern Bolivia. The Don Mario Mine consists of the Upper Mineralized Zone (UMZ), the Lower Mineralized Zone (LMZ) and the Cerro Felix deposits.

Don Mario Open Pit Mine Overview

Ownership

100%

FY 2016 Au / Cu Production

Q1 2017 Au / Cu Production

21,102 Au oz / 10.5M Cu lbs

4,976 Au oz / 2.7M Cu lbs

2017 Guidance

35 – 40,000 Au oz / 7.0 – 7.5M Cu lbs

FY 2016 COC / AISC

Q1 2017 COC / AISC

$861 / $1,248 oz Au

$599 / $1,048 oz Au

Q1 2017 Plant Recoveries

50.19% Au / 53.1% Cu

Plant Capacity

2,600 tpd

Q1 2017 Grade

1.73 gpt Au / 1.31% Cu

COC: cash operating costs

AISC: all-in-sustaining costs

Don Mario Overview

Background

  • Operating for over 13 years
  • Highly experienced local operating team

Carbon-In-Leach (CIL) Circuit Project to Optimize Near Term Production

  • Circuit construction substantially complete, commissioning underway
    • US$7.9M project financing with BISA Bank announced May 30, 2016

Investing to Extend Life of Mine

  • Processing existing oxide stockpiles
    • Stockpile mineral resources (measured):
      • 2.2 M tonnes
      • Contained metal :
        • 129k oz Au, 96 M lbs copper
        • 1.84 g/t Au, 1.89% Cu, 49.30 g/t Ag
  • Evaluating Cerro Felix CIL feed and mine plan
  • Assessing tailings re-processing via CIL
  • Pursuing brownfield, greenfield exploration targets

Don Mario Reserves & Resources

In-Situ Don Mario Mineral Reserve & Mineral Resource Estimates* – Sept. 30, 2016

Tonnes

Grade

Contained Metal

Category

(000's)

Au

(g/t)

Cu

(%)

Ag

(g/t)

Au Ounces

(000's)

Cu Tonnes

(t)

Total Proven Reserves

51

1.35

1.10

30.70

2.2

563.1

Total Probable Reserves

793

2.62

0.60

5.94

66.8

4,794.6

Total P+P Reserves

844

2.54

0.63

7.43

69.0

5,357.7

Total Measured Resources

51

1.35

1.10

30.70

2

563.1

Total Indicated Resources

1,283

2.82

0.41

4.64

116.5

5,325.6

Total M+I Resources

1,334

2.77

0.43

5.63

118.6

5,798.7

Total Inferred Resources

80

3.14

0.14

3.21

8.1

112.0

*Mineral Resources are inclusive of Mineral Reserves and consist of UMZ, LMZ and Cerro Felix estimates

Don Mario Growth

Mine Life Extension Initiatives

  • Cerro Felix Deposit
    • 2009-2011: 207,000 tonnes at 1.7 g/t Au processed through CIL plant
    • Located 700m from LMZ
    • Evaluation of possible mine plans underway
  • Las Tojas Deposit
    • Small tonnage mined in 2010 – 2011, from two pits; also processed through CIL plant
    • Located 4 km from Don Mario
    • 2 km strike length between pits targeted for drilling in FY 2017
  • Stockpiles
    • Re-evaluating economic potential of oxide stockpiles
  • Extensive land package
    • 58,325 ha in mineral concessions provide opportunities for future exploration programs

Outlook

The Company continues to pursue its initiatives at El Valle and Don Mario on an accelerated basis in order to meet its objectives of optimizing production, lowering unitary cash costs, maximizing free cash flow, extending the life-of-mine of its operations and growing its operations to deliver shareholder value.


Management

Management and Directors

James Gilbert, Chief Executive Officer & Chairman

Over 25 years mining sector experience. Chief Investment Officer of Minera S.A., Partner in Global Energy Metals Corp., Director of AQM Copper Inc. and Director and former President & CEO of First Point Minerals Corp. Formerly President & CEO of Minera S.A. Held senior positions with Gerald Metals, Rothschild and Coopers & Lybrand.

Jeffrey Hillis, Chief Financial Officer

Over 10 years senior management and mining financial experience. Executive roles including as CFO of Potash Ridge Corp., Iberian Minerals and Excellon Resources. Proven track record of debt and equity raising to support strategic plans.

Juan Gavidia, Vice President, Operations

Over 20 years mining sector experience. Spearheaded business initiatives and provided operational support for international mining projects. Formerly worked as an independent consultant in relation to gold and copper projects in a variety of countries and held positions with Newmont Mining.

Gordon Pridham, Lead Independent Director

Alan Edwards, Director

Ed Guimaraes, CA, Director

George Darling, Director

Sara Magner, Director

Please refer to Orvana's website www.orvana.com for complete biographies.


News Update

On February 8, 2017, Orvana Minerals Corp. announced that at its annual shareholders' meeting held on February 8, 2017, each of the five incumbent directors as well as one additional director proposed for election by the Company were elected as directors of the Company.

For full voting details please see Orvana's voting results as filed on SEDAR at www.sedar.com.


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