OROVALLE OPERATION

In September 2009, Orvana acquired the EVBC Mine through its acquisition of Kinbauri Gold Corp. In June 2015 the Company changes the subsidiary name to OroValle Minerals S.L.

The EVBC Mine is located in the Rio Narcea Gold Belt of northern Spain and was previously mined from 1997 to 2006 by Rio Narcea Gold Mines. They produced nearly 1,000,000 ounces of gold and over 20,000 tonnes of copper prior to the closure of the mine.

The following table sets forth the production from the EVBC Mines for the periods indicated together with guidance for the upcoming period.

EL VALLE UNDERGROUND MINE OVERVIEW
Ownership 100 %
FY 2020 Au / Cu Production 51,104 Au oz / 5.6M Cu lbs
FY 2021 Au / Cu Production 47,413 Au oz / 6.3M Cu lbs
FY 2020 COC - AISC $1,151 - $1,385 oz Au
FY 2021 COC - AISC $1,043 - $1,376 oz Au
Plant Capacity 2,000 tpd
FY 2021 Plant Recoveries 91.9% Au / 82.3% Cu
FY 2021 Grade 2.45 g/t Au / 0.53% Cu


El Valle mill and offices


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