VANCOUVER, August 13, 2020 – Orla Mining Ltd. (TSX: OLA) (“Orla” or the “Company”) is pleased to announce that mexico’s Federal Department of the Environment (“SEMARNAT”) has approved the effect of the Company Declaration (“Environmental Impact Manifestos” or “MIA”) required for the progression of the Red Way (“Red Way”) gold allowance located in the State of Zacatecas Mexico. The approval of mine is conditional on Orla mounting certain popular needs and needs that the corporate intends to cover in the coming weeks. Orla now has the two main permits needed to start the structure activities in Red Way. The MAI receipt also meets one of the main preconditions for the collection of the remaining 100 million U.S. dollars to be applied to the $125 million transfer funding line previously announced (“line of credit”).
“The approved MIA is the next step in the development of the Red Way oxide project. Now we can begin to structure and maintain our schedule to produce our first gold in 2021,” said Jason Simpson, Orla’s president and CEO. “We would like to thank and recognize everyone who worked on the authorization procedure and supported us to get to this point. We look forward to continuing to work heavily with our stakeholders, adding local communities around the Camino Rojo project.”
Detail engineering is now complete at more than 73% and, in anticipation of receiving final permit, Orla has booked and committed more than $50 million for long-term items. The main land movement and civil engineering contracts are very complex and are expected to be completed in the coming weeks. Under the existing Mexican legislation COVID-19, mining and structure are now legal economic activities and the Camino Rojo has evolved in strict compliance with the needs of the Mexican physical fitness authority and society. Orla has implemented a strict COVID-19 protocol, adding rigorous testing systems when initiating a controlled mobilization in the structure. Exploration systems have already begun and are testing regional targets in the vast prospective geological leadership surrounding the known reservoir.
About Orla Mining Ltd.
Orla ascends to the Camino Rojo Oxide Gold assignment, a complex allocation of open pit leaching in gold and silver piles, located in the state of Zacatecas, in central Mexico. The transfer is 100 percent owned through Orla and covers more than 160,000 hectares. The technical report entitled “Feasibility Study, Ni 43-101 Technical Report of the Camino Rojo – Municipio de Mazapil, Zacatecas, Mexico” Gold Project dated June 25, 2019 can be held in SEDAR under the profile of the company as well as in the Online Orla. www.orlamining.com page. Orla also owns one hundred percent of Cerro Quema’s allocation in Panama, which includes a short-term gold production situation and exploration targets. The Cerro Quema assignment is an open pit mine and leaching operation in gold piles. See the “Project Cerro Quema – Prefeasibility Study of La Pava and Quemita gold deposits” dated August 15, 2014, available in SEDAR.
Forward-looking statements
This press release includes secure “forward-looking statements” within the meaning of Canada and U.S. securities law, and adds, but is not limited to, statements related to the timing of compliance with certain situations related to AIM approval, the timing of the structure begins, the effects of planned exploration and exploration programs, the prospectus for the discovery of more mineral resources, and the Company’s objectives and strategies. Forward-looking statements are statements that are not old facts that relate to occasions, effects, effects or advances that the Company expects to occur. Forward-looking statements are based on the Company’s beliefs, estimates and reviews of control as of the date the statements are made and involve a number of dangers and insecurities. Certain vital assumptions related to such forward-looking statements are discussed in this press release, adding, but not limited to, assumptions that all MIA situations will be met, the Company’s operations will be consistent with the Company’s public statements and stated objectives; there will be no significant adverse replacement affecting the company or its properties; All required approvals will be received and there will be no significant disruptions to the company or its properties. Therefore, there is no guarantee that such statements will prove to be accurate and actual effects and long-term occasions may differ materially from those expected in those statements. Forward-looking statements involve significant known and unknown dangers and insecurities that can cause the actual effects to differ materially from expected ones. These hazards include, but are not limited to: hazards related to insecurities inherent in the preparation of feasibility studies, drilling effects and estimation of mineral reserves and mineral resources; and the dangers associated with the execution of corporate objectives and strategies, adding up prices and expenses. Except as required by applicable Company securities disclosure laws and regulations, the Company undertakes not to update such forward-looking statements, control beliefs, estimates or revisions or other points supersede.
SOURCE Orla Mining Ltd.