Orvana is a low-cost gold producer with significant growth opportunities and a strong balance sheet. Orvana owns and operates the Don Mario Mine in Eastern Bolivia and is developing two promising assets: the recently acquired El Valle-Boinás/Carlés gold-copper project in Northern Spain and the Copperwood copper project in the Upper Peninsula of Michigan, United States.

Since 2008, Orvana has been growing its project pipeline outside of Bolivia and continues to investigate strategic opportunities that will best leverage its development and operating expertise. The most recent addition, the El Valle-Boinás/Carlés gold-copper project acquired in August 2009, is the largest and most promising project to date. An excellent fit with Orvana’s experience bringing underground mines into production, the El Valle-Boinás/Carlés Project is being advanced expeditiously to achieve production start up as soon as possible. The Copperwood Project, located in the Upper Peninsula of Michigan, U.S., was added in September 2008. Orvana entered into mineral leases covering 712 hectares near the inactive White Pine Mine where copper and silver were produced 1953-1996. Based on current assumptions, the Copperwood Project is targeted to start production in 2013. Formed in 1992 through the amalgamation of two Canadian mining companies, Orvana’s initial business was to acquire properties with gold exploration potential.

The low-cost Don Mario Lower Mineralized Zone (LMZ) gold mine in eastern Bolivia began commercial production in July 2003 and generated significant cash flow until its depletion in the final quarter of fiscal 2009. The nearby Las Tojas gold deposit is being mined by open-pit methods and is expected to produce gold through approximately mid-2010. The Upper Mineralized Zone (UMZ) copper-gold-silver deposit which overlies the LMZ is being developed to extend production from the Don Mario District through 2019.

Orvana strives to be a model steward of the environment and an exemplary corporate citizen. The Company is committed to developing and operating its projects in full compliance with recognized international and local environmental standards.