Orvana is expeditiously advancing the El Valle-Boinás/Carlés gold-copper project, located in the Rio Narcea Gold Belt in Northern Spain with production expected to start up in the spring of 2011.
 
The project has a plant and a mill with 750,000 tonnes per year capacity as well as extensive infrastructure. The El Valle Mill includes a primary crusher, SAG and ball mills, pebble crusher, flotation cells, concentrate thickener and filtration, gravity circuit, CIL, cyanide destruction, carbon regeneration, elution electro-winning, calcining and smelting, reagent preparation and water recovery. Auxiliary facilities include offices, warehouses, maintenance shops, change houses, and a sample preparation and fire assay laboratory. The abandoned El Valle pit will be used as the tailings impoundment.
 
In July of 2010, the Company reported the results of a technical report entitled “Technical Report on the Boinás and Carlés Gold Mines, Asturias, Spain” dated April 30, 2010, which stated reserves and developed a conceptual seven year mine plan for the project.  The seven year mine plan generates approximately 105,000 ounces of gold, 8.6 million pounds of copper and 160,000 ounces of silver.
 
The El Valle-Boinás/Carlés area produced about 950,000 ounces of gold and nearly 14,000 tonnes of copper during the period 1997-2006, about 90% by open-pit methods. Kinbauri bought the assets in 2007 and during 2007-2008 it completed both surface and underground drilling at Carlés and El Valle, successfully increasing resources throughout the district.
 
Orvana acquired the El Valle-Boinás/Carlés Project in September 2009 through the purchase of Kinbauri Gold Corp.