Orvana Minerals Corp.

Orvana Minerals Corp.

March 16, 2005 16:00 ET

Orvana Announces February Production Results And Files Technical Report On Resources Of Upper Mineralized Zone


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ORVANA MINERALS CORP.

TSX SYMBOL: ORV

MARCH 16, 2005 - 16:00 ET

Orvana Announces February Production Results And Files
Technical Report On Resources Of Upper Mineralized Zone

TORONTO, ONTARIO--(CCNMatthews - March 16, 2005) - Orvana Minerals Corp.
(TSX:ORV) announced today that it produced 6,074 fine troy ounces of
gold during the month of February, 2005 at its Don Mario mine in eastern
Bolivia. Ore extracted from the underground mine had an average head
grade of 14.86 grams per tonne (g/t) and ore extracted from the mini-pit
had an average head grade of 8.86 g/t.

Mine Operations

During February 2005, 13,540 tonnes of development and cut and fill ore
were extracted from the underground mine and 8,179 tonnes were extracted
from the mini-pit. As the head grade of ores produced from the
underground mine during the month was significantly higher than the
average ore grades processed to date, the mill's throughput was reduced
to 615 tonnes per day in order to achieve an average recovery rate of
90.6% for the month.

The following table summarizes the tonnes treated, head grades and mill
recovery rates for January and February 2005 with comparable results for
the fiscal first quarter ended December 31, 2004.



----------------------------------------
February January 3 months ended
2005 2005 December 31, 2004
---------------------------------------------------------------------
tonnes 11,231 13,691 41,330
Underground mine -----------------------------------------------
g/t 14.86 8.78 8.50
---------------------------------------------------------------------
tonnes 5,894 7,100 18,056
Mini-pit -----------------------------------------------
g/t 8.86 8.83 7.72
---------------------------------------------------------------------
tonnes 17,214 20,792 59,384
Total tonnes treated -----------------------------------------------
g/t 12.12 8.80 8.26
---------------------------------------------------------------------
Recovery rate 90.6% 84.1% 89.1%
---------------------------------------------------------------------
Ounces produced 6,074 4,950 14,047
---------------------------------------------------------------------


Upper Mineralized Zone Technical Report

Orvana has received a final Resource Estimate Review and National
Instrument 43-101 Technical Report on the Don Mario's Upper Mineralized
Zone (UMZ) prepared by the consulting firm Pincock Allen & Holt, (PAH)
dated March 11, 2005. As previously reported (see Press Release dated
February 14, 2005), the estimated grades and tonnages for the various
UMZ ore types in the indicated mineral resources category are as follows:



--------------------------------------------
Indicated Resources
---------------------------------------------------------------------
---------------------------------------------------------------------
AuEq
Zone Cutoff Au g/t Cu % Ag g/t Tonnes
---------------------------------------------------------------------
Porous 1.00 1.31 1.78 52 443,422
---------------------------------------------------------------------
Oxides 1.00 1.57 1.99 49 1,790,670
---------------------------------------------------------------------
Transition 1.27 1.41 1.37 57 1,775,430
---------------------------------------------------------------------
Sulfides 1.32 1.46 1.42 44 1,568,151
---------------------------------------------------------------------
---------------------------------------------------------------------
Total 1.47 1.61 50 5,577,672
---------------------------------------------------------------------


Note: AuEq based on the following formulas:

Oxides equals g/t Au + % Cu x 1.682 + g/t Ag x 0.01571 equals 1

Transition equals g/t Au + % Cu x 1.257 + g/t Ag x 0.01294 equals 1.27

Sulfides equals g/t Au + % Cu x 1.306 + g/t Ag x 0.01484 equals 1.32

The PAH report has been filed on SEDAR (www.sedar.com) and on the
Company's website (www.orvana.com).

Raul Borrastero, a Certified Professional Geologist with PAH, and
Richard Addison, a Professional Engineer and PAH's Principal
Metallurgical Engineer, are the Qualified Persons responsible for the
work performed by PAH. The technical report and resource estimates have
been prepared in accordance with the Standards of Disclosure for Mineral
Projects as defined by National Instrument 43-101 of the Canadian
Securities Administrators.

Orvana commenced work during 2004 on the infill drilling program to move
the UMZ ore resource from 'inferred' to 'indicated' status and this
program is now completed. The Company is proceeding with metallurgical
work and tests on bulk samples are being conducted at CIMM, Tecnologias
y Services S.A. laboratories in Santiago, Chile, as part of the
Company's plans to expand reserves and future production.

About Orvana

Orvana Minerals is a Canadian gold mining and exploration company based
in Toronto, Ontario and is involved in the evaluation, development and
mining of precious metal deposits in Latin America. The Company owns the
Don Mario gold mine in eastern Bolivia. Orvana's long-term goal is to
become a multi-mine producer in Latin America. Its shares have been
listed on the Toronto Stock Exchange since 1992 under the trading symbol
ORV.

Forward Looking Statements

This news release may contain forward-looking statements that are based
on the Company's expectations, estimates and projections regarding its
business and the precious metals market and economic environment in
which it operates. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
control or predict. Therefore, actual outcomes and results may differ
materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements
speak only as of the date on which they are made, and the Company
undertakes no obligation to update them publicly to reflect new
information or the occurrence of future events or circumstances.

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