TSX:ORV
TORONTO, Feb. 27, 2015 /CNW/ - Orvana Minerals Corp.
(TSX:ORV) (the "Company" or "Orvana") reports the results
following the Annual Shareholders' Meeting held on February 27, 2015 in Toronto.
The following nominees were elected as Directors of Orvana:
Gordon J. Bogden;
Ed Guimaraes;
Jacques McMullen;
Gordon Pridham;
Audra Walsh;
John Wilson; and
Michael Winship
Mr. Robert Mitchell has retired
from the Board of Directors and therefore did not stand for
re-election. The Board and Management of Orvana would like to
thank him for his contributions, support and guidance as a Director
for 11 years and as Chairman of the Board for the past two and a
half years.
Mr. Jacques McMullen was elected
as Chairman of the Board immediately after the Annual Shareholders'
Meeting.
The Company also reports the re-appointment of
PricewaterhouseCoopers LLP ("PWC") as the Company's independent
auditor. PWC has been the auditor of the Company since September 2004.
For full voting details please see Orvana's Voting Results as
filed on SEDAR at www.sedar.com. The Annual Shareholders'
Meeting webcast may be accessed on the Orvana website at
www.orvana.com.
About Orvana
Orvana is a multi-mine gold and copper
producer. Orvana's operating assets consist of the producing
gold-copper EVBC mines in northern Spain and Don
Mario mine in Bolivia.
Additional information is available at Orvana's website
(www.orvana.com).
Forward Looking Disclaimer
Certain statements in this news release constitute
forward-looking statements or forward-looking information within
the meaning of applicable securities laws ("forward-looking
statements"). Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, potentials, future events or
performance (often, but not always, using words or phrases such as
"believes", "expects" "plans", "estimates" or "intends" or stating
that certain actions, events or results "may", "could", "would",
"might", "will" or "are projected to" be taken or achieved) are not
statements of historical fact, but are forward-looking
statements.
The forward-looking statements herein relate to, among other
things, Orvana's ability to achieve improvement in free cash flow;
the potential to extend the mine life of each of Orvana's mines
beyond the life of mine estimate therefor; Orvana's ability to
optimize its assets to deliver shareholder value; Orvana's ability
to optimize production; the Company's ability to emerge stronger
from the turnaround work executed at EVBC in 2014; estimates of
future production, operating costs and capital expenditures;
mineral resource and reserve estimates; statements and information
regarding future feasibility studies and their results; future
transactions; future metal prices; the ability to achieve
additional growth and geographic diversification; future financial
performance, including the ability to increase cash flow and
profits; future financing requirements; and mine development
plans.
Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Orvana as of the date of such statements, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. The estimates and
assumptions of Orvana contained or incorporated by reference in
this news release, which may prove to be incorrect, include, but
are not limited to, the various assumptions set forth herein and in
the Company's most recently filed Management's Discussion &
Analysis and Annual Information Form in respect of the Company's
most recently completed fiscal year (the "Company Disclosures"), or
as otherwise expressly incorporated herein by reference as well as:
there being no significant disruptions affecting operations,
whether due to labour disruptions, supply disruptions, power
disruptions, damage to equipment or otherwise; permitting,
development, operations, expansion and acquisitions at the EVBC and
Don Mario Mines being consistent
with the Company's current expectations; political developments in
any jurisdiction in which the Company operates being consistent
with its current expectations; certain price assumptions for gold,
copper and silver; prices for key supplies being approximately
consistent with current levels; production and cost of sales
forecasts meeting expectations; the accuracy of the Company's
current mineral reserve and mineral resource estimates; and labour
and materials costs increasing on a basis consistent with Orvana's
current expectations.
A variety of inherent risks, uncertainties and factors, many
of which are beyond the Company's control, affect the operations,
performance and results of the Company and its business, and could
cause actual events or results to differ materially from estimated
or anticipated events or results expressed or implied by forward
looking statements. Some of these risks, uncertainties and factors
include fluctuations in the price of gold, silver and copper; the
need to recalculate estimates of resources based on actual
production experience; the failure to achieve production estimates;
variations in the grade of ore mined; variations in the cost of
operations; variations in the costs associated with the suspension
of mining at Carlés; the availability of qualified personnel; the
Company's ability to obtain and maintain all necessary regulatory
approvals and licenses; the Company's ability to use cyanide in its
mining operations; risks generally associated with mineral
exploration and development, including the Company's ability to
continue to operate the EVBC Mines and/or the Don Mario Mine; the
Company's ability to acquire and develop mineral properties and to
successfully integrate such acquisitions; the Company's ability to
obtain financing when required on terms that are acceptable to the
Company; the Company's ability to execute on its strategy;
challenges to the Company's interests in its property and mineral
rights; current, pending and proposed legislative or regulatory
developments or changes in political, social or economic conditions
in the countries in which the Company operates; general economic
conditions worldwide; and the risks identified in the Company
Disclosures under the heading "Risks and Uncertainties". This list
is not exhaustive of the factors that may affect any of the
Company's forward-looking statements and reference should also be
made to the Company Disclosures for a description of additional
risk factors.
Forward-looking statements are based on management's current
plans, estimates, projections, beliefs and opinions and, except as
required by law, the Company does not undertake any obligation to
update forward-looking statements should assumptions related to
these plans, estimates, projections, beliefs and opinions change.
Readers are cautioned not to put undue reliance on forward-looking
statements.
SOURCE Orvana Minerals Corp.