ORVANA ANNOUNCES NEW STRATEGIC THREE-TIERED EXPLORATION PROGRAM FOR ITS TAGUAS PROJECT IN ARGENTINA
TSX: ORV
OTCQX: ORVMF
And Participation in the Precious Metals Summit and Mining Forum Americas 2026
TORONTO, Sept. 21, 2026 /CNW/ -- Orvana Minerals Corp. (TSX: ORV) (OTCQX: ORVMF) (the "Company" or "Orvana") is pleased to provide an overview of its planned FY2027 exploration program for the Taguas Project in San Juan Province, Argentina, and to announce its participation in the Precious Metals Summit at Beaver Creek, Colorado, and the Mining Forum Americas at Colorado Springs, Colorado, where management will present the planned program for Taguas.
"Mining is about pursuing strategic opportunities at the right time, and our Taguas Project reflects that. For the upcoming exploration season in late 2026 and early 2027, we are advancing a three-tiered approach: integrating geophysics at the Evelina prospect adjacent to Taguas; conducting near-surface infill drilling to further define our oxide resources; and undertaking deep drilling to test the potential of the interpreted porphyry copper-gold system at depth" said Juan Gavidia, Chief Executive Officer of Orvana.
Taguas Project – FY2027 Exploration Program (the "FY2027 Program")
The Taguas Project, located in San Juan Province, Argentina, comprises the original Taguas property, acquired by Orvana in 2019, and the Evelina property1, acquired in 2026. Readers are referred to the Company's Annual Information Form ("AIF") for the fiscal year ended September 30, 2025, as well as the interim MD&As and news releases issued during FY2026, for a comprehensive description of the Taguas Project, its historical development and the detailed exploration activities completed during FY2026. These documents are available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.orvana.com.
The FY2027 Program is designed to advance Orvana's understanding of the broader Taguas Project mineral system while supporting the potential future development of the Project. The FY2027 Program combines three complementary objectives:
(i) |
Advancing the geological understanding of the deeper portions of the Taguas property and evaluating the potential for additional mineralization at depth; |
(ii) |
Completing infill drilling within the oxide resource area with the objective of upgrading Taguas property mineral oxides resources2,3 to the Measured and Indicated categories, which could support a future update of the Preliminary Economic Assessment dated 2021 (the "2021 PEA")4, available on SEDAR+ and on the Company's website; and |
(iii) |
Reviewing and integrating historical geological data from the recently acquired Evelina property2 into the broader exploration strategy for the Taguas Project. |
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1 For additional information regarding the acquisition of the Evelina property, readers are referred to the Company's news release dated June 29, 2026, available on SEDAR+ and on the Company's website at www.orvana.com. |
2 Detailed information regarding the Taguas property oxide mineral resources, including resource estimates, assumptions, methodologies and data verification procedures, is available in the Company's Annual Information Form for the fiscal year ended September 30, 2025, which has been filed on SEDAR+ and is also available on the Company's website. |
3 Mineral resources that are not mineral reserves do not have demonstrated economic viability. Pursuant to CIM Guidelines, mineral reserves as to their existence, economic viability and feasibility, and inferred mineral resources have the least certainty of all resource categories; it cannot be assumed that all or any part of the inferred oxide resources referenced above will be upgraded to indicated or measured mineral resources as a result of the infill drilling contemplated by the FY2027 Program, or at all. |
4 The 2021 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic consideration applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the 2021 PEA, or any future update to it, will be realized. |
The FY2027 Program is expected to include the following principal phases and activities:
- Evelina Property Integration
The Company is advancing the compilation, review and interpretation of historical geological, geochemical and drilling data from the Evelina property, acquired in 2026.
Available datasets from Evelina will be integrated into a consolidated geological model covering both the original Taguas property and the Evelina property.
This work is expected to enhance the Company's understanding of the broader mineral system.
- Structural Mapping
The Company plans to undertake detailed structural mapping focused on the collection and interpretation of kinematic indicators to better understand fault movements, structural architecture and the evolution of the hydrothermal system.
This work is expected to assist in defining major structural corridors, uplifted and down-dropped blocks, and the principal geological controls on mineralization.
The integration of structural data with geological, geophysical and drilling datasets is expected to improve target prioritization and support the refinement of the exploration model across the broader Taguas Project area.
- Geophysical survey
The Company plans to expand the existing Magnetotelluric (MT) and Induced Polarization (IP) survey coverage to the north and south of the previously identified open geophysical anomaly, including selected areas within the recently acquired Evelina property.
The survey program is expected to further define the geometry, continuity and depth extent of the chargeability and resistivity anomalies identified to date, from near-surface levels to depths exceeding 1.5 kilometres.
Results from the expanded MT-IP surveys will be integrated with geological mapping, drilling information, relogging programs, SWIR mineralogical data and petrographic studies to further refine the geological model and improve drill target definition.
- Drilling
The FY2027 Program is initially planned to include approximately 19,500 metres of drilling, comprising 10,000 metres of oxide resource2 infill drilling at Cerros Taguas and 9,500 metres of deep exploration drilling targeting the interpreted porphyry copper-gold system at depth.
Oxide Resource Infill Drilling Program
The FY2027 Program includes approximately 10,000 metres of infill drilling within the Cerro Taguas oxide resource2 area.
The program is designed to increase drill density and geological confidence to support the potential conversion of portions of the current Inferred oxide resources2 to the Measured and Indicated categories. Additional drilling will focus on selected higher-grade zones and areas where additional data may contribute to future resource upgrades. The program may also identify opportunities for resource expansion within and around the existing Cerros Taguas oxide deposit.
Deep Drilling Program
The objective of the FY2027 deep drilling program is to advance the Company's understanding of the interpreted porphyry copper-gold system at depth and to test a series of priority targets identified through the integration of geological, geochemical, mineralogical and geophysical datasets generated during the FY2026 exploration campaign5.
The preliminary budget for the FY2027 Program at Taguas is estimated at approximately US$15 million. The principal service providers for the planned geophysical surveys, drilling program and camp operations have already been selected, and the Company is currently advancing the related contracting processes, permitting requirements and other administrative activities required to support program execution.
The planned FY2027 exploration program, including its scope, budget, timing and execution schedule, remains preliminary and is subject to change. Advancement of the program will depend on a number of factors, including the receipt of required permits and authorizations, completion of contracting processes, availability of services and equipment, market conditions, and availability of funding. Accordingly, there can be no assurance that the FY2027 Program will be completed as currently contemplated, on the anticipated timeline, or within the estimated budget. There can also be no assurance that the objectives of the FY2027 Program will be achieved or that the exploration activities will result in the discovery, delineation or expansion of mineral resources.
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5 Readers are encouraged to refer to the Company's Q3 FY2026 Management's Discussion and Analysis, together with the news releases dated April 8, 2026, May 27, 2026 and July 2, 2026, for additional information regarding the FY2026 exploration program at the Taguas Project. |
Quality Assurance-Quality Control ("QA/QC")
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Raúl Alvarez Cifuentes, P. Geo., a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Alvarez is an employee of the Company and is therefore not independent of the Company.
Precious Metals Summit & Mining Forum Americas 2026
Orvana will participate in two leading mining investment conferences in Colorado during September 2026: the Precious Metals Summit Beaver Creek, taking place from September 22 to 25, and Mining Forum Americas, from September 27 to 30, 2026. Mr. Raúl Álvarez, Director of Exploration and Technical Services, and Ms. Nuria Menendez, Chief Financial Officer, will represent the Company at both events.
Mr. Raúl Álvarez will deliver presentations at both events:
Event |
Presentation Date & Time (MDT) |
Webcast |
Precious Metals Summit Beaver Creek |
September 23, 2026 at 4:00 p.m. |
|
Mining Forum Americas |
September 28, 2026 at 3:10 p.m. |
The corporate presentation to be delivered at both the Precious Metals Summit Beaver Creek and Mining Forum Americas conferences is available at: Corporate Presentation
ABOUT ORVANA – Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, which is ramping up production of copper cathodes and gold-silver doré from its oxides stockpile, and the Taguas property located in Argentina. Additional information is available at Orvana's website (www.orvana.com).
Cautionary Statements – Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding: (i) the proposed FY2027 exploration program for the Taguas Project, including its objectives, scope, phases, timing and planned activities; (ii) plans to advance the geological understanding of the deeper portions of the Taguas property and assess the potential for additional mineralization at depth; (iii) the proposed completion of infill drilling within the oxide resource area, the potential upgrading of mineral resources to the Measured and Indicated categories and the potential subsequent update of the Preliminary Economic Assessment dated 2021; (iv) the review and integration of geological and other information relating to the recently acquired Evelina property into the broader exploration strategy for the Taguas Project; (v) the preliminary estimated budget of approximately US$15 million for the FY2027 exploration program and the Company's ability to fund such program; (vi) the negotiation and completion of contracts with geophysical, drilling, camp and other service providers; (vii) the completion of permitting, administrative and other regulatory processes required to commence and advance the planned activities; (viii) the anticipated benefits of the FY2027 Program to the Company's understanding of the scale and long-term potential of the Taguas Project; and (ix) the Company's proposed attendance at the Precious Metals Summit and Mining Forum Americas conferences in Colorado, including the delivery of management presentations.
The proposed FY2027 exploration program for the Taguas Project, including its scope, objectives, phases, timing, planned activities and estimated budget, is preliminary and remains subject to change. The commencement, continuation and completion of the program, in whole or in part, will depend on a number of factors, including the availability of sufficient funds, the receipt and maintenance of all required permits, licences, approvals and authorizations, the completion of contracting and administrative processes, the availability and performance of contractors, equipment and services, geological and drilling results, operational conditions, market conditions and applicable internal approvals. There can be no assurance that the program will proceed as currently contemplated, that all planned activities or phases will be completed, that sufficient funding will be available, that the required permits and approvals will be obtained within the anticipated timeframe or at all, that actual expenditures will be consistent with the current budget estimate, or that the program will achieve any of its stated objectives.
Forward-looking statements are based on management's current expectations, estimates, projections and assumptions as of the date of this news release and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are not statements of historical fact and are generally identified by words such as "believes", "expects", "plans", "estimates", "intends", "anticipates", "forecasts", "projects", "may", "could", "would", "might" or "will", or similar expressions.
A variety of risks, uncertainties and factors, many of which are beyond the Company's control, could cause actual results to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and factors include, among others: delays or difficulties in obtaining or maintaining necessary permits and authorizations (including environmental and tailings-related authorizations); the impact of global economic and geopolitical conditions; fluctuations in the price of gold, silver and copper; variations in ore grades, metallurgical recoveries and throughput; failure to achieve production estimates or guidance; increases in operating costs (including energy, power and environmental compliance costs); availability of qualified personnel; risks generally associated with mineral exploration and development; the Company's ability to advance the exploration at Taguas; the Company's ability to obtain financing on acceptable terms when required; challenges to the Company's property interests and mineral rights; and legislative, regulatory, political, social and economic developments in the countries in which the Company operates. Additional risks are described in the Company's most recent Management's Discussion and Analysis and Annual Information Form, available under the Company's profile at www.sedarplus.ca.
Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and except as required by law, the Company does not undertake any obligation to update forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.
SOURCE Orvana Minerals Corp.
For further information please contact: Nuria Menéndez, Chief Financial Officer, E: [email protected]
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