VANCOUVER, Oct. 14, 2015 /CNW/ - Messrs. Marc Prefontaine, Hans Smit, Troy Fierro and Richard Hall each announce their respective ownership in Orla Mining Ltd. (the "Company") (TSX-V: OLA).

An aggregate of 1,524,000 common shares of the Company (the "Orla Shares") are directly or indirectly owned by Mr. Prefontaine, representing approximately 8.7% of the issued and outstanding Orla Shares. In addition, an aggregate of 1,350,000 common share purchase warrants (the "Warrants") are directly or indirectly owned by Mr. Prefontaine. Each Warrant entitles the holder to acquire one Orla Share at an exercise price of C$0.06 until March 9, 2017. Assuming exercise of the Warrants held by Mr. Prefontaine, an aggregate of 2,874,000 Orla Shares are directly or indirectly owned by Mr. Prefontaine, representing approximately 15.3% of the issued and outstanding Orla Shares on a partially diluted basis.

An aggregate of 1,350,000 Orla Shares are indirectly owned by Mr. Smit, representing approximately 7.7% of the issued and outstanding Orla Shares. In addition, an aggregate of 1,350,000 Warrants are indirectly owned by Mr. Smit. Assuming exercise of the Warrants held by Mr. Smit, an aggregate of 2,700,000 Orla Shares are indirectly owned by Mr. Smit, representing approximately 14.4% of the issued and outstanding Orla Shares on a partially diluted basis.

An aggregate of 950,000 Orla Shares are directly owned by Mr. Fierro, representing approximately 5.4% of the issued and outstanding Orla Shares. In addition, an aggregate of 950,000 Warrants are directly owned by Mr. Fierro. Assuming exercise of the Warrants held by Mr. Fierro, an aggregate of 1,900,000 Orla Shares are directly owned by Mr. Fierro, representing approximately 10.3% of the issued and outstanding Orla Shares on a partially diluted basis.

An aggregate of 950,000 Orla Shares are directly owned by Mr. Hall, representing approximately 5.4% of the issued and outstanding Orla Shares. In addition, an aggregate of 950,000 Warrants are directly owned by Mr. Hall. Assuming exercise of the Warrants held by Mr. Hall, an aggregate of 1,900,000 Orla Shares are directly owned by Mr. Hall, representing approximately 10.3% of the issued and outstanding Orla Shares on a partially diluted basis.

Each of Messrs. Prefontaine, Smit, Fierro and Hall has advised the Company that they acquired the Orla Shares for investment purposes. Each of Mr. Prefontaine, Smit, Fierro and Hall has indicated that they will review their respective holdings from time to time and may increase or decrease their respective positions as future circumstances may dictate.

The early warning reports for of Messrs. Prefontaine, Smit, Fierro and Hall, as required under National Instrument 62-103, contain additional information with respect to the foregoing matters and will be filed under the Company's SEDAR profile at www.sedar.com.

SOURCE Orla Mining Ltd.