TSX:ORV
OTCQX: ORVMF
#17-2026
TORONTO, June 29, 2026 /CNW/ - Orvana Minerals Corp. (TSX: ORV) (OTCQX: ORVMF) ("Orvana" or the "Company") is pleased to announce the strategic expansion of its land position at the Taguas Project, located in San Juan Province, Argentina, through the acquisition of the Evelina claims (the "Evelina Property") from a subsidiary of Pan American Silver Corp. (NYSE: PAAS; TSX: PAAS), for total consideration of US$1,200,000 (the "Transaction").
Highlights
- The Evelina Property comprises four claims totalling 4,015 hectares, located in the Iglesia Department of San Juan Province, Argentina: Evelina I (Exp. No. 11240381-M-06), Gabriela 1 (Exp. No. 0001-M-96), Gabriela 2 (Exp. No. 0002-M-96), and Gabriela 3 (Exp. No. 0003-M-96).
- The addition of the Evelina Property increases the Taguas Project's exploration footprint by approximately 123%, from 3,274 to 7,289 hectares.
- The Evelina Property extends the Taguas Project along the same metallogenic belt, highlighting the potential continuity of a prospective epithermal corridor supported by early geological evidence. The Transaction provides opportunities to expand exploration activities at Taguas while increasing logistical optionality and flexibility for potential future infrastructure development.
Juan Gavidia, Chief Executive Officer of Orvana, commented: "As we advance our understanding of the porphyry system at depth at Taguas, we are expanding our land position and strengthening our presence in the district. The Evelina Property acquisition consolidates a continuous land package alongside Taguas, enhancing our geological optionality and increasing flexibility for potential future development."
Evelina Property
The Evelina claims total 4,015 hectares and represent a strategic expansion withinthe same Oligocene–Miocene metallogenic belt that hosts the Cerros Taguas. This addition enhances the Taguas Project's broader geological footprint and reinforces its district-scale exploration potential, particularly for epithermal gold and silver systems.
Evelina East (see Figure 1) is interpreted as the potential southern extension of the Cerros Taguas mineralized corridor and constitutes the most advanced sector within the Evelina claims in terms of historical work. WordView-3 satellite imagery has outlined an epithermal system, consistent with the presence of a hydrothermal system. This geological continuity increases confidence in the potential extension of mineralization beyond the current limits of the Taguas claims.
Evelina West (see Figure 1), by contrast, remains underexplored but presents compelling early-stage indicators of a hydrothermal system. The presence of argillic alteration, with abundant alunite, is consistent with high-sulfidation epithermal environments. The scale and intensity of alteration observed suggest the potential for a concealed mineralized system.
Strategic Context
The Company has expanded its evaluation of the Taguas Project beyond the near-surface oxidized gold-silver resource outlined in the 2021 Preliminary Economic Assessment (dated December 29, 2021, available at www.sedarplus.ca) to include the underlying sulfide mineralization and potential porphyry-style copper-gold mineralization.
The Company completed an updated geological model for the Taguas Project and conducted a geophysical survey, designed to identify potential deeper targets to a depth of 1,500 metres. Results from the geophysical survey, combined with the recent review of historical exploration data have been used to prioritize key targets for the initial deep drilling. The FY2026 program comprised 2 drill holes, totaling 2,173.7 metres drilled. First drill hole TADD-278 reached 1,331.7 metres and second TADD-279, 842 metres.
Petrographic studies completed on drill core samples from hole TADD-278 indicate that the mineralized host rock corresponds to a dacitic porphyry. The analyzed intervals display a well-developed porphyritic texture characterized by quartz, plagioclase and subordinate mafic phenocrysts set within a strongly silicified and sericitized groundmass, consistent with a hydrothermal porphyry system. The studies also identified intense sericitic alteration assemblages dominated by quartz-sericite-pyrite. Ore mineralization is primarily composed of pyrite with associated enargite and/or chalcopyrite, occurring as disseminations and veinlet fillings, further supporting the interpretation of a dacitic porphyry-related hydrothermal system. Detailed information is available in the Company's news releases dated April 8, 2026 and May 27, 2026. Results from drill hole TADD-279 remain pending and will be disclosed as additional data becomes available.
Orvana considers the acquisition of the Evelina Property as part of its broader Taguas Project strategy, as the Company completes the interpretation of results from its FY2026 drilling campaign, continues the evaluation of historical data at Evelina, and advances the design of an integrated exploration program for FY2027.
Transaction Details
Pursuant to the Transaction, Orvana Argentina S.A., a wholly-owned subsidiary of the Company, acquired 100% of the interest in the claims comprising the Evelina Property from a subsidiary of Pan American Silver Corp. on an as-is, where-is basis, for total consideration of US$1,200,000. The Transaction was completed on June 26, 2026, with customary registration formalities remaining.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Raúl Alvarez Cifuentes, a Qualified Person as defined under NI 43-101. Mr. Alvarez is an employee of the Company, and therefore is not independent of the Company.
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 operation in Bolivia, and the Taguas Project 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 statements include, but are not limited to, statements regarding: (i) the anticipated benefits of expanding Orvana's land position in the Iglesia Department of San Juan Province through the addition of the Evelina Property adjacent to the Taguas Project; (ii) the potential for mineralization continuity between the Evelina Property and the Taguas Project, including within the Evelina East and Evelina West sectors; and (iii) the Company's plans to advance exploration in Argentina, including the October 2026 – April 2027 drilling campaign at Taguas. There can be no assurance that exploration of the Evelina Property will result in the delineation of any mineral resources, or that any mineralization identified will be economically viable.
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: the Company's ability to advance exploration at the Evelina Property and the Taguas Project; challenges to the Company's property interests and mineral rights; delays or difficulties in obtaining or maintaining necessary permits and authorizations; the impact of global economic and geopolitical conditions; fluctuations in the prices of gold, silver, and copper; availability of qualified personnel; risks generally associated with mineral exploration and development; the Company's ability to obtain financing on acceptable terms when required; 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: nmenendez@orvana.com
