ORVANA REPORTS H2 FY2026 EXPLORATION RESULTS AT OROVALLE, SPAIN

TSX:ORV

OTCQX: ORVMF

TORONTO, Oct. 29, 2026 /PRNewswire/ -- Orvana Minerals Corp. (TSX: ORV) (OTCQX: ORVMF) ("Orvana" or the "Company") is pleased to report exploration results from its El Valle and Carlés deposits in Spain for the second half of fiscal year 2026, ended September 30, 2026 ("H2 FY2026"). The Company's ongoing exploration programs at El Valle and Carlés are comprised of infill drilling to improve geological confidence in known mineralized zones and brownfield drilling to test for extensions of those zones, with the objective of supporting future updates to the Company's Mineral Resource estimates.

•    H2 FY2026 Highlights

     El Valle–Boinás:

• Drilling at the El Valle Boinás mine focused on the oxide mineralized bodies, with a total of 6,537 metres drilled, comprising 5,687 metres at Breccia East, 742 metres at Area 208 and 108 metres at Boinás East.
• Infill drilling focused on refining the geological interpretation of Breccia East, including its interpreted relationship with the Area 208 mineralized zone.
• Brownfield drilling in Breccia East intersected gold mineralization at the 300 m level, which the Company interprets as indicating that the mineralized zone remains open at depth.
• Selected drilling intercepts from H2 FY2026 (approximate true widths; see Tables 1 to 4 below):
  • DDH 26BX1094 (Breccia East):  4.17 m @ 39.85 g/t Au and 0.34% Cu, including 1.33 m @ 116.41 g/t Au and 0.47% Cu
  • DDH 26BX1105 (Breccia East):  3.31 m @ 15.80 g/t Au and 0.23% Cu
  • DDH 26BX1118 (Breccia East): 15.08 m @ 10.68 g/t Au and 0.27% Cu
  • DDH 26BX1120 (Breccia East):  3.39 m @ 16.77 g/t Au and 1.92% Cu
  • DDH 26A22025 (Area 208): 4.77 m @ 4.50 g/t Au and 0.32% Cu

     Carlés:

• 1,197 metres completed in Carlés Northwest (1,046 metres infill and 151 metres brownfield) to define the northeastern extension of the mineralized zone between the -35 and +50 levels.

•    Drilling Summary

A total of 53 drill holes were completed during H2 FY2026 across the El Valle–Boinás and Carlés deposits.

•  Breccia East

Of the total 5,687 metres drilled during H2 FY2026, 3,959 metres were infill drilling aimed at improving the geological interpretation of the mineralized zones and providing additional data to support the potential conversion of Inferred Mineral Resources to Indicated Mineral Resources in a future Mineral Resource update. There is no certainty that any Inferred Mineral Resources will be converted to Indicated Mineral Resources. The remaining 1,728 metres consisted of brownfield drilling, which the Company interprets as indicating continuity at depth of one of the mineralized bands. This interpretation will be further assessed as part of future brownfield drilling programs.

Drill hole locations, orientations, and reported intercepts are illustrated in Figures 1 through 3, and listed in Tables 1-5 in this news release. These figures provide plan and sectional views of the drilling completed during H2 FY2026, together with historical drilling in these areas. 

^{Figure 1. Level 420 – Breccia East}

The Breccia East zone is interpreted to occupy a fault zone located at the contact between limestone and sandstone. The latter acts as a relatively impermeable barrier to hydrothermal fluids, causing Au and Cu mineralization to precipitate along the structure (Figures 2 and 3). Breccia East consists of subangular to rounded clasts supported by a hematitic clay matrix with visible native copper in some drill holes.

The upper part of the structure is bounded by Tertiary rocks along a broadly sub-horizontal contact at approximately 465 metres elevation. To the east, an Alpine thrust places Middle Cambrian carbonate rocks of the Láncara Formation over Tertiary rocks and Upper Cambrian sandstones of the Oville Formation. The structure remains open at depth and will be further evaluated as part of future exploration programs. (Figures 2 and 3)

The zone is further affected by NW-SE fault system that produces significant offsets and variations in the thickness of the mineralized zone, resulting in a structurally complex setting (Figure 1).

The Breccia East structure comprises a series of subvertical bands whose thickness varies from south to north, with average widths of approximately 20 metres in the southern sector, narrowing to around 7 metres in the northern sector. Gold mineralization within these bands is typically concentrated in horizons with true widths of 2 to 3 metres and average grades of approximately 4 g/t Au. Locally higher-grade zones have been intersected in the southern portion of the structure, as demonstrated by DDH 26BX1118, which returned 15.08 m at 10.68 g/t Au. Gold mineralization is occasionally accompanied by copper mineralization, as observed in DDH 26BX1116, which returned 1.79 m at 7.21 g/t Au and 1.49% Cu.

The drilling program carried out has improved the understanding of the geometry and continuity of mineralization within Breccia East, increasing confidence in the geological model. In addition, the brownfield drilling results indicate that the mineralization remains open at depth and will be the subject of further evaluation in future exploration campaigns.

^{Figure 2. Cross section A-A´}

^{Figure 3. Cross section B-B}

•  Area 208

At Area 208, three holes totalling 742 metres (482 metres infill and 260 metres brownfield) were drilled in Q3 FY2026. Results are presented in Table 2.

Mineralization in Area 208 is concentrated within bands, with variable thickness (between 5-10 m) of altered skarn and semi-jasperoid breccias within the limestone; subsequently, the intrusion of porphyry dikes led to silicification and mineral enrichment of these bands. The arrangement of the mineralized bands in contact with the limestone and sandstone units, together with the presence of porphyritic dikes, is similar to that described in Breccia East, suggesting a correlation between the two structures.

•  Boinás East

Boinás East is a magnesian skarn that has developed along the contact between intrusive and carbonate units. The metallic mineralization consists of chalcopyrite, bornite, and magnetite, and is associated with Au-Cu mineralization. One infill hole (108 metres) was drilled in Q3 FY2026 to complete the delineation of a mining stope in the Boinás East skarn. Results are presented in Table 3.

•  Carlés

At the Carlés mine, 1,197 metres were completed between 1,046 metres of infill (major part of the program) and 151 metres of brownfield drilling. The drilling program was conducted to define the northeastern extension of the Carlés Northwest mineralized zone between the -35 and +50 levels. The zone remains open at depth and will be evaluated in future drilling programs. Results are presented in Table 4.

•  Technical Information

Tables 1 to 4 present results from drilling completed during H2 FY2026.

Reported intercepts for the El Valle–Boinás and Carlés drilling (Table 1 to Table 4) represent approximate true widths.