ORLA MINING FILES UPDATED FEASIBILITY STUDY TECHNICAL REPORT ON CAMINO ROJO OXIDE PROJECT

camino_rojo_technical_report_filing

VANCOUVER, BC – February 9, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the Company has filed a technical report, prepared in accordance with the disclosure standards under National Instrument 43-101 (“NI 43-101”) for its Camino Rojo Oxide Gold Project (the “Project”) located in Zacatecas, Mexico. Orla previously announced the results for the Updated Feasibility Study (see News Release dated January 11, 2021), which highlighted an estimated Project after-tax net present value (“NPV”) (5% discount rate) of $452 million with an after-tax internal rate of return (“IRR”) of 62% at a gold price of $1,600 per ounce. A summary of the key highlights and results contained in the technical report is presented below. The detailed technical report is available on SEDAR and EDGAR under the Company’s profile at www.sedar.com and at www.sec.gov, respectively. The technical report is also available on Orla’s website at www.orlamining.com.

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