Orla Mining Ltd. provided an update on its near-pit exploration activities at Camino Rojo completed in the second half of 2023. In 2023, Orla completed 6,500 metres of drilling near the Camino Rojo Oxide Mine in Mexico to define additional oxide mineralization near the open pit. This near-pit exploration included 2,500 metres of drilling to confirm oxide gold mineralization on the Fresnillo plc property (the "Layback Area"), located immediately north of and adjacent to the Camino Rojo Oxide Mine open pit, and 4,000 metres of drilling targeting the extension of oxide gold mineralization hosted by key structures controlling deeper levels of oxide mineralization within and beyond the currently designed oxide open pit.

An updated resource is planned for the first half of 2024, incorporating, for the first-time, mineral resources in the Layback Area. The Layback Area drilling confirmed and delineated gold mineralization immediately north of and adjacent to the Camino Rojo Oxide Mine open pit. Results from the Layback Area drill program confirmed historical drill results and the continuity of oxide hosted gold mineralization across the property boundary.

In near-pit oxide extension drilling, Orla's exploration approach was to test along strike and down dip of key structures controlling oxidation to define additional oxide gold mineralization. Results from this program identified significant structurally controlled oxide mineralization up to 50 metres below (e.g., CROX23-08, 67.1m at 1.16 g/t incl. 58.0m at 1.32 g/t Au) and up to 15 m southeast (e.g., CROX23-17, 23.5m at 0.45 g/t Au) of the current ultimate oxide pit boundaries.

Notably, the shallow oxide material intersected southeast of the current pit extents is considered to have the highest potential for driving a pit expansion. Follow-up drilling of the oxide mineralization southeast of the pit wall is planned for 2024. Historical drill results at Camino Rojo were completed by Goldcorp.

Inc. ("Goldcorp"), a prior owner of the project. The Company's independent qualified person, Independent Mining Consultants Inc. was of the opinion that the drilling and sampling procedures for Camino Rojo drill samples by Goldcorp (and prior to its acquisition by Goldcorp, Canplats Resources Corporation) were reasonable and adequate for the purposes of the Camino Rojo Report, and that the Goldcorp QA/QC program met or exceeded industry standards.