ORVANA REPORTS INITIAL RESULTS FROM DEEP DRILLING PROGRAM AT TAGUAS

• On 8 Apr 2026 Orvana released initial assay data from deep‑drill hole TADD‑1278 at its Taguas Project (Argentina).
• Hole reached 1,326 m (target 1,500–2,000 m) and intersected a vertically zoned hydrothermal system transitioning from high‑sulfidation epithermal to deeper porphyry‑style mineralisation.
• Core interval 715‑920 m returned 0.25 g/t Au and 0.12 % Cu over 205 m, with several short, higher‑grade intercepts (e.g., 32.34 g/t Au over 2 m; 5.62 g/t Au over 3 m).
• No further holes are planned for the current season; drilling will continue to target the final depth and additional assay work is pending below 920 m.

Aspect	Expectation vs. Outcome	Impact
Drill depth	Planned 1,500‑2,000 m, achieved 1,326 m (≈88 % of target)	Positive – shows progress toward depth goal.
Assay grades	Early results anticipated low‑grade background; discovery of short high‑grade spikes exceeds typical expectations for a first hole.	Positive but limited – high‑grade pockets are narrow and not yet indicative of bulk economic mineralisation.
Project timeline	No new holes this season, consistent with prior guidance (winter pause).	Neutral – schedule unchanged.
Market perception	The release follows a series of routine exploration updates (Feb 2026 drill start, Jan‑Mar geophysical work) and does not introduce new financing or production milestones.	Routine – the market had already priced in ongoing exploration; price reaction expected to be modest.

Overall, the news provides incremental technical validation for the Taguas porphyry hypothesis but lacks sufficient scale to re‑price the stock materially. It is therefore Routine – Positive.

• Orvana Minerals Corp. (TSX: ORV / OTCQX: ORVMF) – a junior miner with three 100 % owned assets:
• Orovalle (Spain): Producing underground gold‑copper operation, FY2026 guidance 30–31 k oz Au and 3.5–3.7 M lb Cu.
• Don Mario (Bolivia): Oxides Stockpile Project (OSP) under construction; plant restart targeted for Q2‑Q3 FY2026 with a projected 35‑month operating life.
• Taguas (Argentina): Exploration‑stage project targeting a deep porphyry Cu‑Au system; current drilling programme aims for ~4,500 m total depth by Apr 2026.