The following summary provides an updated overview of Orvana Minerals Corp.’s exploration activity at the Taguas project in Argentina and its planned presence at the Prospectors and Developers Association of Canada (PDAC) International Conference taking place in Toronto from March 1 to 4, 2026. The company reports that deep drilling has begun and that initial intersections correspond to expected epithermal system characteristics, while a larger program continues to test for a possible porphyry copper-gold system at depth.
This announcement is intended for shareholders, brokers, analysts and other stakeholders interested in the company’s brownfield and greenfield exploration advancement. Orvana will exhibit at booth #2243 in the Investors Exchange area at PDAC, where management will present the company’s strategy, assets and exploration priorities, and make available its corporate presentation for further review.
Table of Contents:
Current drilling program and geological observations
Orvana initiated the deep drilling phase at Taguas in , deploying a single rig as part of an initial ~4,500-metre campaign. The first hole has progressed to 650 metres of a planned 1,500-metre target and has intersected the upper levels of the epithermal system. Observations from the hole include multiple bands of polymictic hydrothermal breccias locally cut by quartz–pyrite–enargite veinlets, with the deepest metres showing sericitic alteration. These lithological and alteration features are consistent with the expected upper expression of an active hydrothermal system.
Targeting and geophysical context
The current drillhole, referenced as TADD278, is situated to test the core of a pronounced low-resistivity anomaly identified by a recent magnetotelluric (MT) geophysical survey. The anomaly lies between Cerro Taguas Norte and Cerro Campamento and was chosen because low resistivity at depth can indicate the presence of hydrothermal alteration or potential mineralization pathways commonly associated with porphyry copper-gold systems. Geophysical inversion models used for targeting display resistivity iso-surfaces that guided the drill collar location, though these anomalies are interpretive and do not by themselves confirm mineralization.
Program timeline and reporting
The company expects the initial phase of drilling to continue through the spring, with the wider ~4,500-metre program scheduled for completion in or around , subject to typical field logistics and drilling conditions. Results from individual holes will be analyzed, verified and released as they become available. Stakeholders should anticipate periodic updates that will include assay and technical data once laboratory and quality-control processes are completed.
Quality assurance and qualified person
All scientific and technical statements in this update have been reviewed by Raúl Álvarez Cifuentes, EurGeol, who acts as the company’s Qualified Person under NI 43-101 standards. Mr. Álvarez Cifuentes is a non-independent Qualified Person as he is an employee of Orvana. The company follows standard quality control procedures for sampling, chain of custody and assay verification before public disclosure of results.
Corporate context and cautionary notes
Orvana remains a multi-mine operator with assets that include the producing Orovalle operation in northern Spain, the Don Mario operation in Bolivia and the Taguas property in Argentina. Management will use the PDAC presence to discuss both operational performance and exploration upside across these assets. The corporate presentation is available via the company’s investor relations channels for those seeking additional detail on strategy and asset-level information.
Forward-looking considerations
This release contains forward-looking statements about expected drilling timelines, program scope and potential results. Such statements are not historical fact and are subject to risks and uncertainties, including permitting, logistical interruptions, commodity price volatility, variations in geological interpretation, and the availability of capital. Readers are cautioned that actual outcomes may differ materially from current expectations and should consult Orvana’s public filings for a detailed discussion of risks.
How investors can follow developments
Investors and interested parties are invited to visit Orvana at PDAC 2026 (booth #2243) between March 1 and 4, 2026 for in-person briefings. Additionally, drill updates and technical releases will be posted through the company’s official news channels as assays and verifications are completed, providing the timeline and data necessary to evaluate the exploration progress at Taguas.
