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2009 Copperwood Drill Program Complete: Results Favorable
TORONTO, ONTARIO CA - Monday, October 26, 2009 - Orvana Minerals Corporation announced today that it has completed an 82-hole, 13,000 meter drill program and received assays for the first 23 holes at its Copperwood Project north of Ironwood. Orvana also has hired two key management personnel to assist in advancing the Copperwood Project. "The drilling has adequately delineated the deposit and we plan to provide a resource estimate early in 2010," said Bill Williams, VP Corporate Development. "Given the favorable results to date, we have hired two experienced professionals to advance Copperwood's engineering studies and to manage public policy matters." "The results exceeded our expectations for both thickness and grade, especially for the basal Domino unit, which typically hosts the higher copper grades throughout the deposit," said Williams. "In addition, some holes encountered grades in excess of 1% copper in the hanging wall. We look forward to receiving the results from the other 59 holes in order to be able to report a 43-101-compliant resource that will update the historical estimates." The new senior management personnel hired by Orvana are David Lewis and David Anderson. Mr. Lewis, Project Manager, has 37 years of international mining engineering experience and principally will manage the ongoing and future engineering studies. Mr Anderson, Project Coordinator, has 18 years of natural resource and environmental management as well as economic development experience in the Upper Peninsula and Wisconsin, and will manage community relationships, public policy, and environmental issues, among other things. The addition of these professionals will greatly facilitate project advancement. Orvana Minerals is a low-cost gold producer with significant growth opportunities and a strong balance sheet. Orvana owns and operates the Don Mario Mine in Bolivia and is developing two other promising assets: the advanced-stage El Valle-Boinas/Carles gold-copper project in Northern Spain and the Copperwood copper project in Michigan. Additional information is available at Orvana's website, www.orvana.com. Based on current assumptions, the Company targets production start up for the Copperwood mine around 2013.
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