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.

Ownership 100 %
FY 2023 Au / Cu Production 46,259 Au oz / 4.5M Cu lbs
Q1 2024 Au / Cu Production 7,994 Au oz / 0.7M Cu lbs
FY 2024 Au / Cu Production Guidance 41,000 - 45,000 Au oz / 3.3 - 3.7M Cu lbs
FY 2023 COC - AISC $1,294 - $1,580 oz Au
Q1 2024 COC - AISC $1,702 - $1,893 oz Au
FY 2024 COC / AISC Guidance $1,300 - $1,400 oz Au / $1,700 - $1,850 oz Au
Plant Capacity 2,000 tpd
FY 2023 Plant Recoveries 91.6% Au / 80.7% Cu
Q1 2024 Plant Recoveries 91.5% Au / 76.3% Cu
FY 2023 Grade 2.28g/t Au / 0.37% Cu
Q1 2024 Grade 2.09 g/t Au / 0.32% Cu

Beyond the extractive activity and mineral processing, OroValle develops continuous geological research work in the three gold belts of Asturias in search of new mineral resources. In this regard, Orovalle has more than 37,500 hectares in the Principality of Asturias between Exploitation Concessions and Research Permits. There is also a significant number of Research Permits that are in process in the Administration of the Principality that represent 7,644 hectares distributed among the different gold belts of western Asturias.

El Valle mill and offices

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