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Orla Mining Reports Third Quarter 2021 Results and Provides Camino Rojo Construction Update Camino Rojo construction 96 % complete VANCOUVER , BC , Nov. 15 , 2021 / CNW / - Orla Mining Ltd. ( TSX : OLA ) ( NYSE : ORLA ) ( " Orla " or the " Company " ) today announces the results for the third quarter ended September 30 , 2021 . ( All amounts are in U.S. dollars unless otherwise stated ) THIRD QUARTER 2021 HIGHLIGHTS : • Camino Rojo Oxide Project construction is progressing on schedule and was 89 % complete at September 30 , 2021 , and 96 % complete at October 31 , 2021 . • Construction remains on budget . Camino Rojo capital expenditures totalled $ 24.3 million in the third quarter and totalled $ 106.3 million at September 30 , 2021 , out of a total project capital expenditure estimate of $ 134.1 million . As of October 31 , 2021 , capital expenditures totalled $ 110.9 million . Capital expenditures to date have been in line with estimates as a result of the Company's early procurement efforts . • Construction remains on schedule . The main activities completed during the quarter included ramp up of mining activities , mechanical completion of the crushing system , conveying system , reclaim tunnel , overland conveyor , and grasshopper conveyors , commencement of wet commissioning with introduction of ore into the crushing circuit , and completion of the camp facilities . • Overliner ore material was placed on the heap leach pad and ore stacking began in early October in preparation for cyanide leaching which is expected to begin in mid - November . • As of October 31 , 2021 , there were 529 workers at the Camino Rojo Project as part of construction activities . The number of construction workers on site has been steadily decreasing in the second half of 2021 as many areas complete construction activities . Once Camino Rojo reaches commercial production , Orla expects to have approximately 300 workers at Camino Rojo , with most being Mexican nationals . • During the third quarter , Orla finalized the negotiation of the Collective Bargaining Agreement ( " CBA " ) with the Miners ' Union ( Sindicato Minero ) . In October , Orla's employees at Camino Rojo ratified the CBA with 99 % employee approval . The ratification of the CBA solidifies Orla's relationships with the Company's employees and the elected union while standardizing a set of fair and competitive benefits for all employees . • • During the third quarter , the Cerro Quema Pre - Feasibility Study ( " PFS " ) Technical Report was completed . Exploration and evaluation expenditures totalled $ 3.6 million for the quarter and included activities across the Company's portfolio in Mexico and Panama with a focus on Camino Rojo target generation and project study advancement . • Net loss of $ 9.6 million or $ 0.04 per share for the quarter . • Cash balance of $ 50.7 million at September 30 , 2021 and $ 41.6 million at October 31 , 2021 . During the quarter , the Company closed a $ 35 million non - brokered prospectus financing . • To date , Camino Rojo's safety and environmental performance has been excellent and there have been no delays in construction due to COVID - 19 . As of October 31 , 2021 , 69 % of all employees and contractors at Camino Rojo are fully vaccinated against COVID - 19 and 94 % are partially vaccinated . " We are now counting down the weeks until first gold pour at Camino Rojo , " said Jason Simpson , President and Chief Executive Officer of Orla . " Execution and delivery underpin our Company's strategy for value creation , and our transition into a gold producer will be another value - adding milestone . " CAMINO ROJO OXIDE CONSTRUCTION UPDATE Mining operations commenced during the third quarter , including drilling , blasting , and hauling of ore and waste .