Don Mario

Operator: Orvana Minerals Corp.

Location: Chiquitos, Bolivia

Royalty: 3.0% NSR (all metals)

Term of Royalty: Life of Mine

Don Mario is an open-pit copper-gold-silver mine, owned by Empresa Paititi S.A., a wholly-owned subsidiary of Orvana Minerals Corp. (“Orvana”). Don Mario is located within the San Juan Canton, Chiquitos Province, Santa Cruz Department in eastern Bolivia, approximately 380 kilometers east of Santa Cruz de la Sierra and 76 kilometers from San Juan de Chiquitos.

Orvana placed Don Mario into care and maintenance on November 8, 2019, and is currently evaluating the potential to restart operations with the Oxide Stockpile Project (OSP) and the Tailings Reprocessing Project (TRP). OSP construction is expected to start once the project is fully funded. OSP is projected to operate for 35 months, starting after a 13-month construction period that Orvana expects to start in the first half of calendar 2024, subject to completion of sufficient financing.