Orvana Minerals Corp. is a Canadian mining and exploration company based in Toronto, Canada, involved in the evaluation, development and mining of precious and base metals deposits in the Americas. The Company owns and operates the Don Mario gold mine in eastern Bolivia, which began commercial production July 1, 2003. The Company’s long-term goal is to become a low cost, long-life, multi-mine gold and base metals producer in the Americas.

Business Strategy

The Company’s long-term goal is to be a low cost, long-life, multi-mine gold and base metal producer in the Americas.

Orvana’s business plan is to use its cash resources and mining capability to achieve additional growth and geographic diversification through projects in the Americas by acquisition of producing mines with characteristics that best fit with its mine development and operating expertise and advanced-stage properties that could potentially be brought into production within three to five years. Management is investigating and evaluating other possible opportunities in the Americas. Given the limited number of opportunities for investment in producing mines and advanced-stage properties, management is considering exploration projects as an additional way to achieve geographic diversification.

In addition to the feasibility study of the UMZ project, the Company is also undertaking exploration activities consisting of ground geophysics, trenching and drilling on other targets located in the ten concessions contiguous to the concession on which the Don Mario Mine is situated. The largest portion of total exploration spending for fiscal 2007 was incurred on the concessions known as Las Tojas and La Aventura. In fiscal 2008, the Company is focusing its exploration efforts in the Las Tojas and Oscar concessions on the Don Mario Property. The La Aventura exploration program is on hold pending receipt of a required permit since part of La Aventura concession falls within an area known as “Area Natural de Manejo Integrado San Matias”, a Controlled Area of Environmental Management.

Orvana does not currently hedge its gold production.

Social and Environmental Policies

The Company is committed to the social development and well-being of the communities in which it operates. To this end, the Company continues to support financially and otherwise local community endeavours associated with that objective. During fiscal 2006, Orvana made a five-year financial commitment to the villages in the surrounding area of the Don Mario Mine. The Company is actively involved in the areas of education, sanitation, purchasing of local goods and services and generally working with communities to contribute to and to improve their standard of living. Projects supported by Orvana included supervision of and financial support for community infrastructure development projects such as utilities and parks; education and information technology; cultural events; community business development initiatives; and maintenance of community roads.

The Company is committed to developing and operating its projects in full compliance with recognized international and local environmental standards. In furtherance of this commitment, the Company regularly implements programs to protect and enhance natural habitats and sensitive species including reclamation efforts, continuous reforestation efforts and the establishment of water sources for wildlife. The Company has retained an independent engineering firm to monitor and make recommendations on the Company’s management of its tailings dam facilities. It is expected that this firm’s work will be completed during the month of May.

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