Orla Mining Provides Q3 2024 Operational Results and Tracks Towards Record Production Year

Camino Rojo Delivers Record Quarterly Gold Production of 43,788 oz Leading to Increased Production Guidance

VANCOUVER, BC, Oct. 10, 2024 /CNW/ - Orla Mining Ltd. (TSX:OLA) (NYSE:ORLA) ("Orla" or the "Company") is pleased to provide an operational update for the third quarter ended September 30, 2024, and provide an update to annual production guidance.

(All amounts expressed in millions of US dollars, as at September 30, 2024 and are unaudited)

Third Quarter 2024 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced 43,788 ounces and sold 38,265 ounces of gold during the third quarter 2024.

Camino Rojo Mining and Processing Totals

Q3 2024

YTD Q3 2024

  Ore Mined

tonnes

1,942,269

5,790,782

  Waste Mined

tonnes

2,840,117

5,764,628

  Total Mined

tonnes

4,782,386

11,555,410

  Strip Ratio

w:o

1.46

1.00

  Ore Stacked

tonnes

1,786,175

5,504,158

  Daily Stacked Throughput Rate, Average

tpd

18,434

19,246

  Stacked Ore Gold Grade

g/t

0.93

0.87

  Gold Produced

oz

43,788

110,217

  Gold Sold

oz

38,265

105,186

Production and Cost Guidance

As a result of the production outperformance year-to-date at Camino Rojo, the Company is increasing full year gold production guidance to 130,000 to 140,000 ounces. The previous production guidance range, revised in August, was 120,000 to 130,000 ounces, while the initial annual guidance was 110,000 to 120,000 ounces. The year-to-date outperformance is driven by improved recoveries from finer crushing, higher mined and processed grade, and higher tonnes stacked. The higher strip ratio in the quarter is a result of a mine pit redesign to ensure consistent access to ore to maintain balanced production. In August 2024, full year all-in sustaining cost1 ("AISC") guidance was improved to a range of $800 to $900 per ounce of gold sold. As a result of the higher production guidance, full year AISC is ...