Orla Mining and Pershimco Announce Orla Mining's Successful Completion of Continuance Under CBCA and Receipt of Final Order to Implement Arrangement

VANCOUVER, BRITISH COLUMBIA and ROUYN-NORANDA, QUEBEC--(Marketwired - Dec. 2, 2016) - Orla Mining Ltd. ("Orla") (TSX VENTURE:OLA) and Pershimco Resources Inc. ("Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) are pleased to announce that in connection with the proposed amalgamation of Orla and Pershimco pursuant to a plan of arrangement (the "Arrangement") under section 192 of the Canada Business Corporations Act (the "CBCA"), and further to Orla having received the necessary approval of its shareholders (the "Orla Shareholders") at a special meeting (the "Orla Meeting") of Orla Shareholders held on November 30, 2016, Orla has successfully completed its continuance (the "Continuance"), effective November 30, 2016, from the Province of Ontario into the Federal jurisdiction of Canada in accordance with the provisions of the CBCA. As previously disclosed, the Continuance was approved by the affirmative vote of 99.98% of the votes cast by Orla Shareholders, present in person or represented by proxy at the Orla Meeting.

On October 31, 2016, Orla and Pershimco obtained an interim order of the Superior Court of Québec (commercial division) ("Court") under the CBCA in connection with the Arrangement. Orla and Pershimco returned to Court on December 2, 2016, and obtained a final order to implement the Arrangement. The completion of the Arrangement remains subject to certain other conditions and is expected to be completed on or about December 6, 2016.

None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the Arrangement are intended to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) and Section 3(a)(9), as applicable, of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States.

Further information about the Arrangement is set out in Orla's management information circular dated October 31, 2016 and in Pershimco's management information circular dated October 31, 2016, which are available on SEDAR under Orla's and Pershimco's issuer profiles at www.sedar.com.

About Orla Mining Ltd.

Orla Mining is a closely held mineral exploration company led by a group of seasoned mining executives. The company's focus is to acquire mineral exploration opportunities where the company's exploration and development expertise and corporate share structure could substantially enhance shareholder value.