TSX:ORV /NOT FOR DISTRIBUTION IN THE UNITED STATES/ This news release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration. There will be no public offering of any of the securities mentioned in this news release in the United States. TORONTO, Aug. 12, 2024 /CNW/ - Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") reports consolidated financial and operational results for the quarter ended June 30, 2024 ("Q3 FY2024"). This news release contains only a summary of the Company's financial and operations results for the third quarter of fiscal 2024, and readers should refer to the full set of unaudited consolidated financial statements for the nine months ended June 30, 2024 and 2023, and accompanying management's discussion and analysis (MD&A), available on www.sedarplus.ca and on the Company's website at www.orvana.com. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted. Juan Gavidia, CEO of Orvana Minerals Corp. stated: "Our financial performance improved significantly in the third quarter generating $7.5 million cash provided by operating activities as a result of the increased metal production coupled by the positive metal prices, at the same time that we continue optimizing our mining costs". "At Bolivia, now that we have reached the critical milestone of placing 80% of the bonds program, we expect to announce the start date of the construction in the coming weeks", he added. Highlights Orovalle - Spain Production of 13,078 gold equivalent ounces(1) (10,832 gold ounces, 1.0 million copper pounds and 30,872 silver ounces) was 29% higher when compared to 10,101 gold equivalent ounces1 ("GEO") in the previous quarter, as a result of: ­ Throughput of 150,843 tonnes, 11% above the previous quarter. ­ Gold grade of 2.37 g/t, 20% above the previous quarter. ­ 94.1% gold recovery, 5% above the previous quarter. ­ Copper production 10% lower than the prior quarter due to lower grade and recovery, partially offset by higher tonnage milled. Guidance for FY2024 is updated from that disclosed in the Company's Management's Discussion and Analysis for the three and six months ended March 31, 2024: Revised Guidance Previous Guidance Metal Production   Gold (oz) 37,000 – 39,000 41,000 – 45,000   Copper (million lbs) 3.7 – 3.9 3.3 – 3.7 Capital Expenditures (USD thousands) $8,000 -$9,500 $16,000 -$18,000 Cash operating costs (by-product) ($/oz) gold (1) (2) $1,450 - $1,550 $1,300 - $1,400 All-in sustaining costs (by-product) ($/oz) gold (1) (2) $1,700 - $1,800 $1,700 - $1,850 (1) Gold Equivalent Ounces (GEO), cash costs per ounce (COC) and all-in sustaining costs (AISC) per ounce are Non-GAAP Financial Performance Measures. For further information and detailed reconciliations, please see the "Non-GAAP Financial Performance Measures" section of the Company's Q3 FY2024 MD&A. (2) Fiscal 2024 previous guidance assumptions for COC and AISC included by-product commodity prices of $3.75 per pound of copper and an average Euro to US Dollar exchange of 1.12. Fiscal 2024 revised guidance assumptions for COC and AISC include by-product commodity prices of $4.02 per pound of copper and an average Euro to US Dollar exchange of 1.08. Don Mario - Bolivia The Company, focused on restarting production at Don Mario, has been seeking financing for its Oxides Stockpile Project (the "OSP"), consisting of a plant expansion to treat ore stockpiled in the Don Mario Operation from previous years of mining activity. Between July 1, 2024 and August 12, 2024 EMIPA completed the following: ­80% placement of the Bond Program units, for a total nominal amount of US $37.7 million. Issuance of 56,414 non-voting preferred shares, for a total amount of approximately US $0.81 million. Preferred shares were issued by EMIPA as a private placement in Bolivia, Orvana has not offered any securities. Four promissory notes have been contracted, for a total amount of approximately US $1.4 million, with due date September 2024. Invested in several local short term financial instruments, all of them sold as of July 30, incurring in a net cost of US $2M. EMIPA intends to use the net proceeds of the Bond Program, issuance of non-voting preferred shares and promissory notes to partially finance its proposed Oxides ...