Orla Mining Draws Down Final Tranche of $50 m

 Orla Mining Ltd. (TSX: OLA)

Announced that the Company has completed the third and final tranche drawdown of US$50 million on its previously announced Project Finance Facility.

The funds will be used towards the development of the Camino Rojo Oxide Gold Project  located in Zacatecas State, Mexico.




VANCOUVER, BC – April 27, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the Company has completed the third and final tranche drawdown of US$50 million on its previously announced Project Finance Facility (“Credit Facility”). The funds will be used towards the development of the Camino Rojo Oxide Gold Project (“Camino Rojo”) located in Zacatecas State, Mexico.

The full US$125 million Credit Facility has been drawn. The term of the facility is five years with maturity in December 2024 and bears interest at 8.8% per annum.


2021 Annual and Special Meeting of Shareholders

The Company’s annual and special meeting (the “Meeting”) of the holders of common shares (“Shareholders”) will be held on May 14th, 2021 at 9:00 a.m. (Vancouver time). As part of continued efforts to prevent the transmission of COVID-19 and mitigate risks to the health and safety of our communities, Shareholders, employees and other stakeholders, Orla will hold the Meeting this year in a virtual-only format, which will be conducted via conference call, together with a live webcast. Details are as follows:

Toll-free dial-in number:


Orla Mining Webcast:



Orla’s Notice of Annual and Special Meeting and Management Information Circular and Annual Information Form (“AIF”) are available on the Company’s website at https://www.orlamining.com/investors/annual-filings/ and have been filed on SEDAR on EDGAR under the Company’s profile at www.sedar.com and www.sec.gov, respectively. The Company’s 40-F, containing its AIF, Audited Annual Financial Statements, and MD&A, has also been filed and is available under the Company’s profile on EDGAR.

Shareholders may also receive a copy of the Company’s audited financial statements without charge upon request by e-mail at info@orlamining.com.


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 State, Central Mexico.

The project is 100% owned by Orla and covers over 160,000 hectares.

The technical report for the 2021 Feasibility Study entitled “Unconstrained Feasibility Study NI 43-101 Technical Report on the Camino Rojo Gold Project – Municipality of Mazapil, Zacatecas, Mexico” dated January 11, 2021, is available on SEDAR and EDGAR under the Company’s profile at www.sedar.com and www.sec.gov, respectively.

The technical report is also available on Orla’s website at www.orlamining.com. Orla also owns 100% of the Cerro Quema Project located in Panama which includes a near-term gold production scenario and various exploration targets.

The Cerro Quema Project is a proposed open pit mine and gold heap leach operation. Please refer to the “Cerro Quema Project – Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits” dated August 15, 2014, which is also available on SEDAR at www.sedar.com.


For brevity, this summary has been abridged. To read the full news release, please click HERE




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