Orla Mining Powers Ahead with Strong Q1 Gold Production

VANCOUVER, BC – April 13, 2026 – Orla Mining Ltd. has started 2026 on a powerful footing, reporting significant first-quarter gold production and achieving critical strategic milestones that reinforce its ambitious growth trajectory. The company announced it produced 81,206 ounces of gold in the quarter ending March 31, 2026, keeping it firmly on track to meet its full-year consolidated guidance of 340,000 to 360,000 ounces.

The strong performance was driven by solid output from its two operating mines, Musselwhite in Canada and Camino Rojo in Mexico. The results, combined with key regulatory and development progress, underscore a period of successful execution for the mid-tier gold producer in a decidedly bullish market for the precious metal.

"2026 was always going to be a catalyst-rich year, and the opening months have not disappointed," stated Jason Simpson, President and Chief Executive Officer of Orla Mining, in the company's operational update. Simpson highlighted a series of achievements across the portfolio, from development studies and permitting success to promising exploration results, crediting the company's teams in Canada, Mexico, and the United States for delivering a strong start to the year.

Operational Strength and Financial Health

Orla's Q1 production figures demonstrate the combined strength of its asset base. The underground Musselwhite Mine in Ontario was the primary contributor, producing 62,985 ounces of gold. The mine processed 332,822 tonnes of ore at a high head grade of 6.29 grams per tonne (g/t) gold, with an impressive recovery rate of 95.91%. This performance reaffirms the value of the asset, which has a long history of production and resource growth.

Meanwhile, the Camino Rojo open-pit heap leach operation in Zacatecas, Mexico, produced 18,221 ounces of gold. The mine stacked over 1.8 million tonnes of ore at a grade of 0.59 g/t gold during the quarter. This steady production comes at a pivotal moment for the asset, which is now poised for significant expansion.

This operational success is directly reflected in the company's strengthening balance sheet. As of March 31, 2026, Orla Mining reported a net cash position of $96.0 million, a substantial improvement from the $35.8 million reported at the end of 2025. This enhanced financial flexibility, bolstered by gold prices trading near multi-year highs of over $4,700 per ounce, provides a solid foundation for funding its ambitious growth and exploration initiatives.

Mexico Permit Unlocks Major Growth Pathway

A cornerstone of the quarter's success was the landmark regulatory approval received for the Camino Rojo Mine. On March 18, 2026, Orla announced it had received the environmental permit (Manifestación de Impacto Ambiental, or "MIA") from Mexico's environmental secretariat, SEMARNAT. This is a game-changing development that significantly de-risks the mine's future.

With the MIA in hand, Orla now has all necessary permits to mine the remainder of its oxide open-pit, including the crucial layback area. This expansion is vital for sustaining and growing production at the site for years to come. Furthermore, the permit greenlights the development of an underground exploration portal and decline. This is the first tangible step toward unlocking the massive sulphide resource that lies beneath the current open pit.

A Preliminary Economic Assessment (PEA) for the Camino Rojo underground project has already outlined a potential tier-one asset, projecting a 17-year mine life with a net present value of $1.3 billion and a 30% internal rate of return, based on a $3,100/oz gold price. With work on the decline expected to begin in the second half of 2026, the company is actively paving the way for its next major growth phase in Mexico.

Building the Future: A Multi-Pronged Growth Pipeline

Beyond its current operations, Orla is aggressively advancing a pipeline of projects that promises to drive future value. The company's South Railroad project in Nevada, located on the prolific Carlin trend, is rapidly moving toward a construction decision.

An updated Feasibility Study released in January 2026 confirmed robust economics for the project, projecting an after-tax NPV of $783 million and an IRR of 48% (at $3,100/oz gold). The open-pit, heap leach project is planned to produce an average of 130,000 ounces of gold annually over its first five years. With a final Record of Decision from the U.S. Bureau of Land Management targeted for mid-2026, Orla anticipates beginning full construction this year, with first gold production slated for early 2028.

At the same time, the company is not resting on its laurels at its Canadian operations. The Musselwhite mine is the subject of an extensive exploration program designed to extend its life and grow its resource base. During the first quarter, Orla completed thousands of metres of drilling aimed at reserve growth, resource expansion, and deep-target exploration. The company reports that all drilling programs continue to yield encouraging results, signaling the potential for this 25-year-old mine to continue producing for many years to come. By balancing robust current production with strategic permitting and a well-defined development pipeline, Orla Mining is methodically executing its strategy to build a leading, low-cost gold producer.