Orla Mining Reports Strong Gold Production from Musselwhite in Third Quarter

Executive Summary

• Orla Mining reports Q3 2025 gold production of 79,645 oz (78,857 oz sold) and confirms it is on track to meet the upper end of its revised annual consolidated guidance of 265,000‑285,000 oz.
• Musselwhite underground mine produced 57,586 oz at a mill head grade of 5.87 g/t with a 95.3% recovery; Camino Rojo open‑pit/heap leach operation produced 22,059 oz at an average stacked ore grade of 0.40 g/t.
• The company revised its consolidated annual gold production guidance downward (from 280‑300 k oz to 265‑285 k oz) after a material movement event at Camino Rojo but still expects to achieve the high end of the new range.

Key Details

• Quarterly Production
• Total gold produced Q3 2025: 79,645 oz (YTD: 205,215 oz).

• Total gold sold Q3 2025: 78,857 oz (YTD: 204,124 oz).

• Musselwhite Mine (Canada)

• Ore milled: 329,634 t (YTD: 728,489 t).
• Mill head grade: 5.87 g/t (YTD: 5.68 g/t).
• Gold produced: 57,586 oz (YTD: 128,038 oz).
• Gold sold: 56,897 oz (YTD: 125,060 oz).

• Recovery rate: 95.3%.

• Camino Rojo Mine (Mexico)

• Ore stacked: 2,793,951 t (YTD: 7,075,366 t).
• Stacked ore grade: 0.40 g/t (YTD: 0.55 g/t).
• Gold produced: 22,059 oz (YTD: 77,177 oz).
• Gold sold: 21,961 oz (YTD: 79,064 oz).
• Quarterly mining: >0.7 M t ore; ~2.4 M t waste; strip ratio 3.34.

• Stacked ore average grade 0.44 g/t, daily stacking rate ≈ 18.9 k t.

• Guidance Revision

• Consolidated annual gold production guidance updated to 265,000‑285,000 oz (previously 280,000‑300,000 oz).

• Camino Rojo individual guidance revised to 95,000‑105,000 oz (down from 110,000‑120,000 oz).

• Liquidity Position (30 Sep 2025)

• Cash: $326.9 M (up from $160.8 M YoY).
• Debt: $(420.0) M.

• Net debt: $(93.1) M (previously $160.8 M net cash).

• Upcoming Events

• Q3 2025 operating and financial results release: 11 Nov 2025.
• Conference call: 12 Nov 2025, 10:00 AM ET (dial‑in details provided).

Notable Quotes

“With pit stabilization at Camino Rojo progressing well and integration at Musselwhite advancing smoothly, both operations are performing well. We are now on track to achieve the high end of our revised production guidance.” – Jason Simpson, President & CEO, Orla Mining.