Orvana Minerals Corp. reported production results for the El Valle Mine in Spain and Don Mario Mine in Bolivia for the first quarter of fiscal 2018. El Valle Mine produced 10,784 ounces of gold in the first quarter of 2018, a decrease of 29% compared to 15,201 ounces of gold produced in the fourth quarter of 2017 with a similar decrease in ore milled in the first quarter of 2018. Copper production was 0.9 million pounds, compared to 1.3 million pounds in the fourth quarter of 2017. The decrease in quarterly gold production in the mine was primarily due to slower than planned oxide development which was impacted by lower than planned availability of the underground fleet. The mine also experienced a mechanical failure of the underground ventilation fan, impacting one week of production, and poor grade realization in skarn zones. Ore milled was 131,286 dmt tonnes against 190,151 dmt tonnes for the fourth quarter of 2017. Gold production was 12,388 ounces in Don Mario mine, in line with 12,465 ounces of gold produced in the fourth quarter of 2017. Gold production was impacted by a lower gold grade of 2.48 g/t in the first quarter of 2018 versus 2.59 g/t in the fourth quarter of 2017, however this was off-set by a 4% increase in ore processed in the first quarter of 2018. Copper production in the first quarter of 2018 was 1.9 million pounds, compared to 2.3 million pounds in the fourth quarter of 2017, driven by a decrease in copper grade of 10%. Ore milled was 181,090 dmt tonnes against 173,295 dmt tonnes for the fourth quarter of 2017.

For the fiscal year 2018, the company expects gold production of 110,000 oz - 120,000 oz and copper production of 6,100,000 lbs - 6,800,000 lbs.