Orvana Minerals Update on El Valle Deposit in Spain
Orvana Minerals El Valle Deposit

Orvana Minerals Update on El Valle Deposit in Spain

Orvana Minerals Corp announced the discovery of the new "High Angle East" mineralized gold structure at its El Valle deposit in northern Spain. The High Angle

East structure is located in the southeastern part of the El Valle deposit. The discovery is based on 12 diamond drill holes, totaling 4,137 meters, completed as part of its 2020 exploration program. Mr Raúl Álvarez, Head of Exploration of Orvana stated "We are pleased with the discovery of High Angle East, which confirms our hypothesis that new mineralized structures east from current operations are possible. Our immediate exploration targets now are to complete the definition of High Angle East and to keep pursuing more eastbound gold structures along the south-to-north axis that defines our El Valle Mine. These encouraging results at El Valle are part of Orvana's exploration strategy focused on increasing the life of mine at its current operations".

Drillhole highlights:

20HA34: 3.25m. at 50.44 g/t Au

20HA35: 20.35m. at 6.14 g/t Au

20HA40: 25.40m. at 5.50 g/t Au

Ag and Cu also economic (up to 216 g/t Ag and 4.54% Cu)

Located 100 metres from current drift of Boinas East

Structure remains open along strike and to depth

Mineralization similar to other altered skarn in El Valle

The main target of Orovalle's fiscal 2020 brownfield drilling program at El Valle has been to verify the existence of new structures to the east of the High Angle zone, following the regional trends with a strike of N35ºE. The program has confirmed the presence of a mineralized structure between 1 and 25 meters thick, hosted within an altered skarn, with incipient oxidation becoming semi-jasperoid breccias. The style of the mineralization and associated alteration appears similar to other altered skarn structures in El Valle.

High Angle East is located in the southeastern part of El Valle deposit, 100 meters away of Boinas East; It has been initially defined between two sections separated by 150 meters in strike, and 100 meters downdip. The structure is expected to remain open to the Northeast and at depth

550 meters are budgeted to drill in High Angle East in the first quarter of fiscal 2021, targeting to confirm continuity of the structure to the Northeast and at depth

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