VANCOUVER, BC, Feb. 22, 2022 /CNW/ - Orla Mining Ltd.
(TSX: OLA) ("Orla" or the "Company") is pleased to announce that
Chafika Eddine has been appointed to
the newly created position of Chief Sustainability Officer ("CSO")
and will be joining the Orla executive team effective March 1, 2022.
The purpose of the CSO role will be to integrate corporate
responsibility into all aspects of Orla's business decision making,
with the goal of increasing the Company's value by reducing
business risk. Ms. Eddine will have executive level
responsibility for the Company's Environmental, Social, and
Governance ("ESG") efforts, in addition to guiding the Company's
internal and external stakeholder relationships.
"We are very pleased that Chafika will be joining Orla as we
navigate the Company over the next decade," said Jason Simpson, President and Chief Executive
Officer of Orla. "Orla is committed to delivering positive benefits
to our stakeholders and we must be systematic and transparent in
our approach. This appointment is a critical next step in the
Company's ESG journey and Chafika will help us accelerate those
efforts, building upon the strong foundation that we have been
developing over the past few years."
Ms. Eddine has over 25 years of experience in the mining
industry and was previously a sustainability and corporate
governance consultant with mandates in countries such as
Brazil, Bolivia, Canada, Chile, Mexico, Panama, and Peru. She has also worked at Hudbay Minerals,
Bear Creek Mining, AngloGold, and Anglo
American in roles primarily focused on governance and
sustainability management. Ms. Eddine has a Master in Community
Development from the University of
Victoria and is completing a Doctor of Business
Administration degree at the Royal Roads University, with a
dissertation on risk management strategies to further mitigate
social and environmental negative impacts in mining.
Details of Orla's ESG efforts are available on the Company's
website at www.orlamining.com/ESG.
About Orla Mining Ltd.
Orla is operating the Camino Rojo Oxide Gold Mine, a gold and
silver open-pit and heap leach mine, located in Zacatecas State,
Central Mexico. The operation is
100% owned by Orla and covers over 160,000 hectares. The technical
report for the 2021 Feasibility Study on the Camino Rojo oxide gold
project entitled "Unconstrained Feasibility Study NI 43-101
Technical Report on the Camino Rojo Gold Project – Municipality of
Mazapil, Zacatecas, Mexico"
dated January 11, 2021, is available
on SEDAR and EDGAR under the Company's profile at
www.sedar.com and www.sec.gov, respectively. The technical
report is also available on Orla's website at www.orlamining.com.
Orla also owns 100% of Cerro Quema located in Panama which includes a near-term gold
production scenario and various exploration targets. Cerro Quema is
a proposed open pit mine and gold heap leach operation. The
technical report for the Pre-Feasibility Study on the Cerro Quema
oxide gold project entitled "Project Pre-Feasibility
Updated NI 43-101 Technical Report on the Cerro Quema Project,
Province of Los Santos,
Panama" dated January 18,
2022, is available on SEDAR and EDGAR under the Company's profile
at www.sedar.com and www.sec.gov, respectively. The technical
report is also available on Orla's website at
www.orlamining.com.
Forward-looking Statements
This news release contains certain "forward-looking
information" and "forward-looking statements" within the meaning of
Canadian securities legislation and within the meaning of Section
27A of the United States Securities Act of 1933, as amended,
Section 21E of the United States Exchange Act of 1934, as amended,
the United States Private Securities Litigation Reform Act of 1995,
or in releases made by the United States Securities and Exchange
Commission, all as may be amended from time to time, including,
without limitation, statements regarding the benefits of the
Company's CSO position and the potential increase in Company value.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur. Forward-looking statements are based
on the beliefs, estimates and opinions of the Company's management
on the date the statements are made and they involve a number of
risks and uncertainties. Certain material assumptions regarding
such forward-looking statements were made, including without
limitation, assumptions regarding the price of gold and silver; the
accuracy of mineral resource and mineral reserve estimations; that
there will be no material adverse change affecting the Company or
its properties; that all required approvals will be obtained,
including concession renewals and permitting; that political and
legal developments will be consistent with current expectations;
that currency and exchange rates will be consistent with current
levels; and that there will be no significant disruptions affecting
the Company or its properties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements involve
significant known and unknown risks and uncertainties, which could
cause actual results to differ materially from those anticipated.
These risks include, but are not limited to: risks related to
uncertainties inherent in the preparation of feasibility and
pre-feasibility studies, including but not limited to, assumptions
underlying the production estimates not being realized, changes to
the cost assumptions, variations in quantity of mineralized
material, grade or recovery rates, changes to geotechnical or
hydrogeological considerations, failure of plant, equipment or
processes, changes to availability of power or the power rates,
ability to maintain social license, changes to interest or tax
rates, changes in project parameters, delays and costs inherent to
consulting and accommodating rights of local communities,
environmental risks, title risks, including concession renewal,
commodity price and exchange rate fluctuations, risks relating to
COVID-19, delays in or failure to receive access agreements or
amended permits, risks inherent in the estimation of mineral
reserves and mineral resources; and risks associated with executing
the Company's objectives and strategies, including costs and
expenses, as well as those risk factors discussed in the Company's
most recently filed management's discussion and analysis, as well
as its annual information form dated March
29, 2021, available on www.sedar.com and www.sec.gov. Except
as required by the securities disclosure laws and regulations
applicable to the Company, the Company undertakes no obligation to
update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change.
Cautionary Note to U.S. Readers
The disclosure referenced herein uses mineral reserve and
mineral resource classification terms that comply with reporting
standards in Canada, and mineral
reserve and mineral resource estimates are made in accordance with
Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy
and Petroleum — CIM Definition Standards on Mineral Resources and
Mineral Reserves, adopted by the CIM Council, as amended (the "CIM
Definition Standards"). Canadian NI 43-101 establishes standards
for all public disclosure an issuer makes of scientific and
technical information concerning mineral projects. These
standards differ significantly from the mineral reserve disclosure
requirements of the United States Securities Exchange Commission
(the "SEC") set forth in Industry Guide 7. Consequently,
information regarding mineralization contained or referenced herein
is not comparable to similar information that would generally be
disclosed by U.S. companies under Industry Guide 7 in accordance
with the rules of the SEC which applied to U.S. filings prior to
the current SEC Modernization Rules (as defined herein). Further,
the SEC has adopted amendments to its disclosure rules to modernize
the mineral property disclosure requirements for issuers whose
securities are registered with the SEC under the Securities
Exchange Act of 1934 ("Exchange Act"). These amendments became
effective February 25, 2019 (the "SEC
Modernization Rules") and, commencing for registrants with their
first fiscal year beginning on or after January 1, 2021, the SEC Modernization Rules
replace the historical property disclosure requirements included in
SEC Industry Guide 7. As a foreign private issuer that files
its annual report on Form 40-F with the SEC pursuant to the
multi-jurisdictional disclosure system, the Company is not required
to provide disclosure on its mineral properties under the SEC
Modernization Rules and will continue to provide disclosure under
NI 43-101 and the CIM Definition Standards. The SEC Modernization
Rules include the adoption of terms describing mineral reserves and
mineral resources that are "substantially similar" to the
corresponding terms under the CIM Definition, but there are
differences in the definitions under the SEC Modernization Rules
and the CIM Definition Standards. Accordingly, there is no
assurance any mineral reserves or mineral resources that the
Company may report as "proven mineral reserves", "probable mineral
reserves", "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under NI 43-101 would
be the same had the Company prepared the mineral reserve or mineral
resource estimates under the standards adopted under the SEC
Modernization Rules. U.S. investors are also cautioned that while
the SEC recognizes "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under the Modernization
Rules, investors should not assume that any part or all of the
mineralization in these categories will ever be converted into a
higher category of mineral resources or into mineral reserves.
Mineralization described using these terms has a greater amount of
uncertainty as to its existence and feasibility than mineralization
that has been characterized as reserves. Accordingly, investors are
cautioned not to assume that any measured mineral resources,
indicated mineral resources, or inferred mineral resources that the
Company reports are or will be economically or legally mineable.
Further, "inferred mineral resources" have a greater amount of
uncertainty as to their existence and as to whether they can be
mined legally or economically. Therefore, U.S. investors are also
cautioned not to assume that all or any part of the "inferred
mineral resources" exist. Under Canadian securities laws, estimates
of "inferred mineral resources" may not form the basis of
feasibility or pre-feasibility studies, except in rare cases.
For the above reasons, information referenced herein regarding
descriptions of our mineral reserve and mineral resource estimates
is not comparable to similar information made public by U.S.
companies subject to reporting and disclosure requirements of the
SEC under either Industry Guide 7 or SEC Modernization
Rules.
SOURCE Orla Mining Ltd.