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Vancouver, BC – June 5, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide the first underground Mineral Resource estimate for the Company’s Camino Rojo deposit located in Zacatecas, Mexico, representing a down plunge extension from the oxide open pit.

This news release presents the initial underground Mineral Resource estimate for the Camino Rojo deposit, incorporating mineralization hosted in the Camino Rojo Sulphides and extending into the underlying Zone 22.  Zone 22 represents the vertical and down plunge continuation of the Camino Rojo sulphide mineralization.

Summary Highlights:

• Measured and Indicated Mineral Resource: 50.1 Mt at 2.45 g/t Au, 10.6 g/t Ag, and 0.25% Zn, averaging 2.58 g/t AuEq, totaling 3.95 Moz Au, 17.05 Moz Ag, 278 Mlbs Zn, and 4.16 Moz AuEq.

• Inferred Mineral Resource: 5.6 Mt at 2.21 g/t Au, 10.9 g/t Ag, and 0.21% Zn, averaging 2.33 g/t AuEq, totaling 0.40 Moz Au, 1.95 Moz Ag, 26 Mlbs Zn, and 0.42 Moz AuEq.

• Zone 22 accounts for only 7% (0.29 Moz AuEq) of the current underground Indicated Mineral Resource and 19% (0.08 Moz AuEq) of the current underground Inferred Mineral Resource. This represents only a portion of the defined mineralization in Zone 22, with drilling ongoing. The 2025 drilling results from Zone 22 will be incorporated in future resource updates.

• Recovery model supported by ongoing metallurgical work: The mineral resource is divided into three spatially distinct zones, each with specific processing options for the Caracol-hosted mineralization: heap leaching (3%); cyanidation (CIL) (25%); and flotation followed by pressure oxidation (“POX”) as a pre-treatment prior to cyanidation (CIL with POX) (72%). These zones inform the resource recovery assumptions. Initial metallurgical testing indicates that material from Zone 22 is amenable to both cyanide leaching and flotation.  

• Development strategy to advance the initial underground Mineral Resource towards possible future construction decision. This includes additional exploration, development planning for an exploration drift to allow for tighter spaced underground drilling, flowsheet design, further metallurgical testing, engineering studies, and permitting activities.

 

 

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– Jason Simpson, President and CEO commented

“This initial underground resource marks an important milestone at Camino Rojo.

 

“When we acquired the project, the scale of the mineralized system was clear, but the path forward was uncertain.

 

“This resource crystallizes our belief in the potential for a future underground operation. Our team has taken a systematic approach, and we will now look to increase confidence and establish a clear path to construction.”

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Disclosure

At the time of writing the author holds shares in Orla Mining.

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