Latest news with #PaulWeedon
Yahoo
3 hours ago
- Business
- Yahoo
Fortuna Completes Strategic Investment in Awalé Resources Limited and Files Early Warning Report
VANCOUVER, British Columbia, June 11, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce that it has acquired 15,037,593 common shares (the 'Shares') of Awalé Resources Limited ('Awalé), a TSX Venture Exchange listed mineral exploration company which is currently advancing its 100 percent-owned properties at the Odienné Project in Côte d'Ivoire. 'Awalé's Odienné Project represents a compelling opportunity for Fortuna in Côte d'Ivoire,' said Paul Weedon, SVP Exploration of Fortuna. 'Our experienced in-country exploration team is well positioned to help advance discoveries through to production. Awalé has built a strong presence in this emerging district and, through their capable and active team, developed a solid geological understanding across the portfolio. We look forward to supporting exploration across Awalé's 100 percent-owned properties at the Odienné Project with the benefit of their insights.' Mr. Weedon concluded, 'This investment strengthens Fortuna's exploration pipeline in Côte d'Ivoire and is aligned with our long-term growth strategy.' The Shares were acquired pursuant to a non-brokered private placement transaction at a cost of US$0.399 per Share (CAD$0.55 per Share) for gross proceeds of US$6,000,000 (CAD$8,264,999). Prior to this acquisition, Fortuna owned no shares of Awalé, and following the acquisition, Fortuna owns approximately 15 percent of Awalé's issued shares. The Shares were acquired for investment purposes. Fortuna may acquire additional securities of Awalé or dispose of its existing securities of Awalé on the basis of Fortuna's assessment of market conditions, reformulation of plans and/or other relevant factors, in each case in accordance with applicable securities regulatory requirements. Fortuna's early warning report has been filed and is available for viewing on SEDAR+, and a copy of the report may also be obtained by emailing info@ or by contacting the Corporate Secretary at +1.604.484.4085. In connection with the investment, Fortuna has entered into an investor rights agreement (the 'Investor Rights Agreement') with Awalé. Under the terms of the Investor Rights Agreement, Fortuna has been granted, among other things, (i) pre-emptive rights to maintain its interest in Awalé through participation in future equity financings of the Company and (ii) top-up rights to purchase additional shares in order to maintain its interest in Awalé. Fortuna will have such investor rights for so long as it holds a 10% or greater interest in Awalé (calculated in accordance with the terms of the Investor Rights Agreement). About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). All statements included herein, other than statements of historical fact, are forward-looking statements, including, without limitation, the Company's business strategy, plans and outlook, statements regarding the possible future acquisition or disposition by the Company of securities, and statements regarding exploration plans in respect of the Odienné Project. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2024. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to, expected trends in mineral prices and currency exchange rates; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. PDF available: in to access your portfolio
Hamilton Spectator
27-05-2025
- Business
- Hamilton Spectator
Fortuna drills 8.6 g/t gold over 13.6 meters at Southern Arc prospect, Diamba Sud Project, Senegal
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Diamba Sud Gold Project in Senegal. Diamba Sud Gold Project exploration highlights Paul Weedon, Senior Vice President of Exploration, commented, 'Our exploration work at Diamba Sud continues to yield strong results, particularly from areas with limited historical drilling. Notably, recent drilling at the Southern Arc prospect has delivered some of our most compelling intercepts to date - highlighted by 8.6 g/t gold over an estimated true width of 13.6 meters in hole DSR906, and 9.3 g/t gold over 11.8 meters in hole DSDD404. These results further reinforce the project's potential for near-term resource growth.' Mr. Weedon concluded, 'Infill drilling at Area A, Area D, and Karakara has also returned highly encouraging results, including a standout intercept of 113.7 g/t gold over 6.4 meters estimated true width in hole DSDD385 at Area D. Meanwhile, regional target generation is progressing steadily, with systematic auger drilling identifying several promising gold-in-soil anomalies across the broader property.' Southern Arc Prospect Drilling highlights include: Exploration drilling at the Southern Arc prospect (Figure 1) successfully intersected multiple zones of mineralization. The program, comprising 38 reverse circulation (RC) and diamond core drill holes for a total of 4,210 meters, was designed to test and refine the geological model - focusing on lithological and structural interactions and their controls on mineralization. Mineralization at Southern Arc is hosted within an extensive hematite-altered tectonic breccia and occurs as stockworks or discrete veins - consistent with other prospects across the Diamba Sud Project. Figure 2 illustrates the relationship between the tectonic breccia, mineralization, and the overlying limestone units. Importantly, mineralization remains open at depth and along strike, with further drilling ongoing. Results from this program will be incorporated into the next Diamba Sud resource update. In addition, several nearby coincident geochemistry and geophysical anomalies further underscore the exploration potential of Southern Arc, including possible linkages to the adjacent Kassasoko deposit, located approximately one kilometre to the west. Figure 1: Diamba Sud Project location plan. Current deposits are highlighted in blue. Figure 2: Cross Section through Southern Arc prospect showing recent results. Oblique section line, view is looking north-east. Area A, Area D, and Karakara deposit infill drilling highlights include: An additional 33 drill holes for a total of 4,550 meters were completed at Area A, Area D, and Karakara (Figure 1), concluding a final round of infill drilling. This program was designed to achieve several key objectives: increasing resource confidence in targeted zones and confirming the geological controls on high-grade mineralization at depth. Notably, several drill holes intersected mineralization adjacent to - but outside - the currently proposed open pit boundaries, indicating potential for further resource growth. For example, hole DSDD399 at Area A returned 3.0 g/t gold over an estimated true width of 28.8 meters from a depth of 153 meters (Figure 3), while hole DSDD385 at Area D intersected 2.6 g/t gold over 40 meters estimated true width (Figure 4). These encouraging results will be incorporated into the forthcoming resource update for the Diamba Sud Project and underscore the potential for future resource expansion, particularly in Area A. Figure 3: Cross section through Area A deposit with results from DSDD399 - view looking east. Figure 4: Cross section through Area D deposit with results from DSDD385 - view looking east Moungoundi and Moungoundi North prospects Exploration drilling at the pre-resource stage Moungoundi prospect and its northern extension, Moungoundi North - located approximately 300 meters to the northeast - was successfully completed, with a total of 85 RC and diamond core drill holes drilled for 9,472 meters. The program significantly improved the understanding of this geologically and structurally complex area, characterized by intercalated tectonic breccias, carbonate metasediments, and granitic and dioritic intrusive units. Mineralization is typically associated with various vein arrays, preferentially hosted within the tectonic breccias. Results from this program will be incorporated into the next resource update for the Diamba Sud Project, contributing valuable insight into the broader mineral system. Western Splay deposit A total of 24 RC and diamond core drill holes, totalling 2,531 meters, were completed at the Western Splay deposit. The drill program was designed to test strike and dip extensions, perform select infill following the previous drilling campaign (refer to Fortuna news release dated: September 12, 2024 ), and the completion of the maiden resource estimate (refer to Fortuna news release dated: March 12, 2025 ). Geologically, Western Splay shares similarities with the adjacent Moungoundi prospect and comprises a series of tectonic breccias (previously classified as conglomerates), granitic and dioritic intrusive units, and metasediments. Mineralization is primarily associated with vein arrays preferentially hosted within the tectonic breccia units. This recent drilling campaign has strengthened confidence in the local geological interpretation and contributes to refining the broader geological and structural model at the project scale. Refer to Appendix 1 for full details of the drill holes and assay results for this drill program. Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel. All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard. All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment. All RC and DD samples were transported to ALS's preparation laboratory in Kedougou, Senegal, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples. Qualified Person Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit . ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and Director Fortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube Forward-looking Statements This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about the potential of the Diamba Sud Gold Project based on the exploration results at the Southern Arc, Moungoundi and Moungoundi North prospects, and from the Area A, Area D, Karakara and Western Splay deposits; statements relating to the potential to progress prospects at the Diamba Sud Gold Project; expectations that results from the drill programs will be able to be expand the current mineral resource at the Diamba Sud Gold Project and will be incorporated into a mineral resource update; statements regarding the exploration potential at the Southern Arc prospect including possible linkages to the Kassasoko deposit;mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2024. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101') and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. Appendix 1 Notes: 1. EOH: End of hole 2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts 4. ETW: Estimated true width 5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Photos accompanying this announcement are available at PDF available:
Yahoo
27-05-2025
- Business
- Yahoo
Fortuna drills 8.6 g/t gold over 13.6 meters at Southern Arc prospect, Diamba Sud Project, Senegal
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Diamba Sud Gold Project in Senegal. Diamba Sud Gold Project exploration highlights Paul Weedon, Senior Vice President of Exploration, commented, 'Our exploration work at Diamba Sud continues to yield strong results, particularly from areas with limited historical drilling. Notably, recent drilling at the Southern Arc prospect has delivered some of our most compelling intercepts to date - highlighted by 8.6 g/t gold over an estimated true width of 13.6 meters in hole DSR906, and 9.3 g/t gold over 11.8 meters in hole DSDD404. These results further reinforce the project's potential for near-term resource growth.' Mr. Weedon concluded, 'Infill drilling at Area A, Area D, and Karakara has also returned highly encouraging results, including a standout intercept of 113.7 g/t gold over 6.4 meters estimated true width in hole DSDD385 at Area D. Meanwhile, regional target generation is progressing steadily, with systematic auger drilling identifying several promising gold-in-soil anomalies across the broader property.' Southern Arc Prospect Drilling highlights include: DSDD366: 4.8 g/t Au13.0 g/t Au24.0 g/t Au over an estimated true width of 21.6 meters from 11 meters, includingover an estimated true width of 1.6 meters from 17 meters, and over an estimated true width of 1.6 meters from 26 meters DSDD367: 4.0 g/t Au23.9 g/t Au over an estimated true width of 16.4 meters from 30 meters, includingover an estimated true width of 0.8 meters from 37 meters DSDD368: 3.2 g/t Au55.3 g/t Au over an estimated true width of 20.8 meters from 89 meters, includingover an estimated true width of 0.8 meters from 91 meters DSDD400: 2.2 g/t Au over an estimated true width of 18.4 meters from 24 meters DSDD402: 8.6 g/t Au81.9 g/t Au over an estimated true width of 8.8 meters from 9 meters, including over an estimated true width of 0.8 meters from 9 meters DSDD404: 1.0 g/t Au1.7 g/t Au9.3 g/t Au16.5 g/t Au33.4 g/t Au over an estimated true width of 4.5 meters from 41.3 meters, andover an estimated true width of 9.6 meters from 52 meters, and over an estimated true width of 11.8 meters from 72 meters, includingover an estimated true width of 0.8 meters from 72 meters, andover an estimated true width of 2.4 meters from 76 meters DSR906: 8.6 g/t Au15.6 g/t Au17.3 g/t Au32.6 g/t Au over an estimated true width of 13.6 meters from 135 meters, includingover an estimated true width of 1.6 meters from 136 meters, and over an estimated true width of 1.6 meters from 140 meters, and over an estimated true width of 0.8 meters from 143 meters Exploration drilling at the Southern Arc prospect (Figure 1) successfully intersected multiple zones of mineralization. The program, comprising 38 reverse circulation (RC) and diamond core drill holes for a total of 4,210 meters, was designed to test and refine the geological model - focusing on lithological and structural interactions and their controls on mineralization. Mineralization at Southern Arc is hosted within an extensive hematite-altered tectonic breccia and occurs as stockworks or discrete veins - consistent with other prospects across the Diamba Sud Project. Figure 2 illustrates the relationship between the tectonic breccia, mineralization, and the overlying limestone units. Importantly, mineralization remains open at depth and along strike, with further drilling ongoing. Results from this program will be incorporated into the next Diamba Sud resource update. In addition, several nearby coincident geochemistry and geophysical anomalies further underscore the exploration potential of Southern Arc, including possible linkages to the adjacent Kassasoko deposit, located approximately one kilometre to the west. Figure 1: Diamba Sud Project location plan. Current deposits are highlighted in blue. Figure 2: Cross Section through Southern Arc prospect showing recent results. Oblique section line, view is looking north-east. Area A, Area D, and Karakara deposit infill drilling highlights include: Area A DSDD395: 1.7 g/t Au12.2 g/t Au25.5 g/t Au over an estimated true width of 18.4 meters from 23 meters, andover an estimated true width of 8.0 meters from 65 meters, including over an estimated true width of 2.4 meters from 68 meters Area A DSDD399: 1.8 g/t Au3.0 g/t Au14.6 g/t Au17.4 g/t Au10.5 g/t Au over an estimated true width of 5.6 meters from 135 meters, andover an estimated true width of 28.8 meters from 153 meters, includingover an estimated true width of 0.8 meters from 158 meters, andover an estimated true width of 0.8 meters from 165 meters, andover an estimated true width of 0.8 meters from 167 meters Area D DSDD3851: 113.7 g/t Au254.3 g/t Au2.6 g/t Au29.7 g/t Au over an estimated true width of 6.4 meters from 26 meters, includingover an estimated true width of 2.8 meters from 27 metersover an estimated true width of 40.0 meters from 39 meters, includingover an estimated true width of 1.2 meters from 47.5 meters Area D DSDD389: 3.4 g/t Au26.6 g/t Au2.0 g/t Au over an estimated true width of 20.8 meters from 20 meters, includingover an estimated true width of 1.6 meters from 41 meters, andover an estimated true width of 13.6 meters from 61 meters KarakaraDSDD393: 1.5 g/t Au3.4 g/t Au17.6 g/t Au45.2 g/t Au over an estimated true width of 16.8 meters from 67 meters, and over an estimated true width of 19.2 meters from 119 meters, including over an estimated true width of 0.8 meters from 119 metersover an estimated true width of 0.8 meters from 122 meters Karakara DSR869: 4.8 g/t Au17.5 g/t Au12.9 g/t Au over an estimated true width of 10.4 meters from 82 meters, includingover an estimated true width of 1.6 meters from 86 meters, and over an estimated true width of 0.8 meters from 93 meters DSDD385 includes intervals of lost core due to poor drilling conditions. These intervals have been assigned nil assay value for interval calculation. An additional 33 drill holes for a total of 4,550 meters were completed at Area A, Area D, and Karakara (Figure 1), concluding a final round of infill drilling. This program was designed to achieve several key objectives: increasing resource confidence in targeted zones and confirming the geological controls on high-grade mineralization at depth. Notably, several drill holes intersected mineralization adjacent to - but outside - the currently proposed open pit boundaries, indicating potential for further resource growth. For example, hole DSDD399 at Area A returned 3.0 g/t gold over an estimated true width of 28.8 meters from a depth of 153 meters (Figure 3), while hole DSDD385 at Area D intersected 2.6 g/t gold over 40 meters estimated true width (Figure 4). These encouraging results will be incorporated into the forthcoming resource update for the Diamba Sud Project and underscore the potential for future resource expansion, particularly in Area A. Figure 3: Cross section through Area A deposit with results from DSDD399 - view looking east. Figure 4: Cross section through Area D deposit with results from DSDD385 - view looking eastMoungoundi and Moungoundi North prospects MoungoundiDSDD347: 1.7 g/t Au2.1 g/t Au over an estimated true width of 5.6 meters from 52 meters, andover an estimated true width of 8.0 meters from 75.1 meters MoungoundiDSDD348: 4.0 g/t Au2.0 g/t Au over an estimated true width of 3.2 meters from 74 meters, and over an estimated true width of 14.6 meters from 89 meters MoungoundiDSR843: 2.1 g/t Auover an estimated true width of 8.8 meters from 20 meters Moungoundi NorthDSR819: 11.3 g/t Au28.1 g/t Au23.5 g/t Au46.5 g/t Au over an estimated true width of 15.4 meters from 38 meters, includingover an estimated true width of 1.4 meters from 44 meters, andover an estimated true width of 1.4 meters from 49 meters, andover an estimated true width of 1.4 meters from 52 meters Moungoundi NorthDSR825: 5.1 g/t Au32.9 g/t Au over an estimated true width of 4.9 meters from 33 meters, including over an estimated true width of 0.7 meters from 37 meters Exploration drilling at the pre-resource stage Moungoundi prospect and its northern extension, Moungoundi North - located approximately 300 meters to the northeast - was successfully completed, with a total of 85 RC and diamond core drill holes drilled for 9,472 meters. The program significantly improved the understanding of this geologically and structurally complex area, characterized by intercalated tectonic breccias, carbonate metasediments, and granitic and dioritic intrusive units. Mineralization is typically associated with various vein arrays, preferentially hosted within the tectonic breccias. Results from this program will be incorporated into the next resource update for the Diamba Sud Project, contributing valuable insight into the broader mineral system. Western Splay deposit DSDD362: 3.2 g/t Au over an estimated true width of 8.1 meters from 39 meters DSDD390: 1.5 g/t Au over an estimated true width of 26.1 meters from 5 meters DSR785: 5.1 g/t Au15.2 g/t Au over an estimated true width of 13.5 meters from 49 meters, includingover an estimated true width of 2.7 meters from 59 meters DSR884: 7.2 g/t Au34.7g/t Au over an estimated true width of 4.8 meters from 12 meters, includingover an estimated true width of 0.8 meters from 12 meters A total of 24 RC and diamond core drill holes, totalling 2,531 meters, were completed at the Western Splay deposit. The drill program was designed to test strike and dip extensions, perform select infill following the previous drilling campaign (refer to Fortuna news release dated: September 12, 2024), and the completion of the maiden resource estimate (refer to Fortuna news release dated: March 12, 2025). Geologically, Western Splay shares similarities with the adjacent Moungoundi prospect and comprises a series of tectonic breccias (previously classified as conglomerates), granitic and dioritic intrusive units, and metasediments. Mineralization is primarily associated with vein arrays preferentially hosted within the tectonic breccia units. This recent drilling campaign has strengthened confidence in the local geological interpretation and contributes to refining the broader geological and structural model at the project scale. Refer to Appendix 1 for full details of the drill holes and assay results for this drill program. Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel. All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard. All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment. All RC and DD samples were transported to ALS's preparation laboratory in Kedougou, Senegal, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples. Qualified Person Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube Forward-looking Statements This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about the potential of the Diamba Sud Gold Project based on the exploration results at the Southern Arc, Moungoundi and Moungoundi North prospects, and from the Area A, Area D, Karakara and Western Splay deposits; statements relating to the potential to progress prospects at the Diamba Sud Gold Project; expectations that results from the drill programs will be able to be expand the current mineral resource at the Diamba Sud Gold Project and will be incorporated into a mineral resource update; statements regarding the exploration potential at the Southern Arc prospect including possible linkages to the Kassasoko deposit;mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2024. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. Appendix 1 HoleID Easting (WGS84_29N) Northing (WGS84_29N) Elev. (m) EOH1,2 Depth (m) UTM Azimuth Dip DepthFrom2,3 (m) Depth To2 (m) Drilled Width2 (m) ETW4 (m) Au (ppm) Hole Type5 Area DSDD395 233176 1429583 185 210 90 -60 23 46 23 18.4 1.7 DD Area A 65 75 10 8.0 12.2 DD Area A Incl. 66 67 1 0.8 21.0 DD Area A and 68 71 3 2.4 25.5 DD Area A 126 140 14 11.2 0.6 DD Area A 144 147 3 2.4 2.2 DD Area A DSDD397 233116 1429411 180 210 90 -58 129 133 4 3.2 1.4 DD Area A 160 169 9 7.2 1.9 DD Area A DSDD399 233139 1429384 179 190 90 -60 135 142 7 5.6 1.8 DD Area A 153 189 36 28.8 3.0 DD Area A Incl 158 159 1 0.8 14.6 DD Area A and 165 166 1 0.8 17.4 DD Area A and 167 168 1 0.8 10.5 DD Area A DSDD406 233235 1429580 185 150 90 -60 6 10 4 3.2 1.8 DD Area A 114.4 117 2.6 2.1 3.0 DD Area A 124 130 6 4.8 4.5 DD Area A Incl 125 126 1 0.8 20.7 DD Area A 143 145 2 1.6 2.6 DD Area A DSDD385 232586 1429503 180 115 90 -60 26 34 8 6.4 113.7 DD Area D Incl 27 30.5 3.5 2.8 254.3 DD Area D and 30.5 31 0.5 0.4 Core Loss DD Area D and 31 32 1 0.8 13.8 DD Area D 39 89 50 40.0 2.6 DD Area D Incl 40 42 2 1.6 Core Loss DD Area D 43 45 2 1.6 Core Loss DD Area D 46 47.5 1.5 1.2 Core Loss DD Area D Incl 47.5 49 2 1.2 29.7 DD Area D 49 51 2 1.6 Core Loss DD Area D 53 55 2 1.6 Core Loss DD Area D 61 63.5 2.5 2.0 Core Loss DD Area D DSDD387 232550 1429484 180 122 90 -60 31 39 8 6.4 1.9 DD Area D 71 79 8 6.4 2.5 DD Area D Incl 72.5 73.3 0.8 0.6 15.7 DD Area D 73.3 75 1.7 1.4 Core Loss DD Area D DSDD389 232711 1429374 178 100 90 -60 20 46 26 20.8 3.4 DD Area D Incl 41 43 2 1.6 26.6 DD Area D 61 78 17 13.6 2.0 DD Area D Incl 77 78 1 0.8 10.5 DD Area D DSDD391 232482 1429404 178 80 90 -60 11 17 6 4.8 1.1 DD Area D 26 29 3 2.4 13.8 DD Area D Incl 28 29 1 0.8 33.5 DD Area D 52 64 12 9.6 0.7 DD Area D DSDD392 232851 1429428 181 50 90 -60 NSI DD Area D DSDD394 232457 1429428 178 110 90 -60 74 81 7 5.6 2.9 DD Area D Incl 79 80 1 0.8 12.6 DD Area D DSDD343 231911 1428448 155 182 270 -60 NSI DD KaraKara DSDD344 231877 1428300 153 149 270 -60 96 99 3 2.4 6.7 DD KaraKara Incl 96 97 1 0.8 13.9 DD KaraKara 126 127 1 0.8 31.3 DD KaraKara DSDD345 231947 1428170 151 143 270 -50 NSI DD KaraKara DSDD346 231870 1428447 155 122 270 -60 NSI DD KaraKara DSDD353 231958 1428153 149 149 270 -60 NSI DD KaraKara DSDD354 231915 1428123 150 92 270 -60 NSI DD KaraKara DSDD355 231939 1428345 153 191 270 -60 NSI DD KaraKara DSDD393 231816 1428275 152 180 270 -60 51 56 5 4.0 1.9 DD KaraKara 67 88 21 16.8 1.5 DD KaraKara Incl 80 81 1 0.8 11.2 DD KaraKara 103 115 12 9.6 1.2 DD KaraKara 119 143 24 19.2 3.4 DD KaraKara Incl 119 120 1 0.8 17.6 DD KaraKara and 122 123 1 0.8 45.2 DD KaraKara DSDD396 231884 1428401 155 130 270 -60 NSI DD KaraKara DSDD398 231724 1428178 151 150 270 -50 25 32 7 5.6 5.1 DD KaraKara Incl 25 26 1 0.8 13.2 DD KaraKara and 29 30 1 0.8 10.9 DD KaraKara 38 43 5 4.0 2.0 DD KaraKara 75 80 5 4.0 1.5 DD KaraKara 85 87 2 1.6 9.5 DD KaraKara Incl 85 86 1 0.8 16.5 DD KaraKara 134 144 10 8.0 1.8 DD KaraKara DSR769 231836 1428439 155 102 265 -60 NSI RC KaraKara DSR770 231844 1428425 154 120 265 -60 NSI RC KaraKara DSR771 231887 1428324 153 180 265 -60 NSI RC KaraKara DSR772 231903 1428297 152 132 270 -60 NSI RC KaraKara DSR773 231878 1428218 153 162 265 -60 NSI RC KaraKara DSR774 231928 1428147 151 114 270 -60 65 72 7 5.6 7.0 RC KaraKara Incl 66 67 1 0.8 27.1 RC KaraKara 94 105 11 8.8 1.3 RC KaraKara DSR775 231588 1428093 151 120 340 -50 NSI RC KaraKara DSR776 231651 1428082 151 174 340 -50 124 129 5 4.0 1.4 RC KaraKara 133 136 3 2.4 3.5 RC KaraKara 143 148 5 4.0 2.1 RC KaraKara DSR868 231862 1428354 154 130 270 -60 62 72 10 8.0 0.8 RC KaraKara DSR869 231702 1428225 152 105 270 -55 36 41 5 4.0 2.3 RC KaraKara 54 59 5 4.0 2.0 RC KaraKara 82 95 13 10.4 4.8 RC KaraKara Incl 86 88 2 1.6 17.5 RC KaraKara Incl 93 94 1 0.8 12.9 RC KaraKara DSR870 231678 1428225 152 126 90 -60 54 69 15 12.0 2.3 RC KaraKara 73 78 5 4.0 2.5 RC KaraKara 113 117 4 3.2 2.1 RC KaraKara DSR871 231699 1428152 151 120 270 -55 17 21 4 3.2 1.9 RC KaraKara DSR872 231762 1428279 152 140 270 -60 78 84 6 4.8 7.2 RC KaraKara Incl 80 82 2 1.6 14.8 RC KaraKara 108 122 14 11.2 2.8 RC KaraKara Incl 114 115 1 0.8 16.2 RC KaraKara DSDD347 230892 1426832 153 115 90 -50 52 59 7 5.6 1.7 DD Moungoundi 75.1 85.1 10 8.0 2.1 DD Moungoundi DSDD348 230782 1426925 154 126 90 -50 74 78 4 3.2 4.0 DD Moungoundi Incl 77 78 1 0.8 10.5 DD Moungoundi 89 107.2 18 14.6 2.0 DD Moungoundi Incl 102 103 1 0.8 11.0 DD Moungoundi DSDD349 230903 1426963 156 80 90 -50 NSI DD Moungoundi DSDD352 230727 1426932 154 170 90 -50 NSI DD Moungoundi DSDD356 230696 1426870 153 102 90 -60 NSI DD Moungoundi DSDD357 230752 1426865 153 126 90 -60 NSI DD Moungoundi DSDD358 230700 1426849 152 120 90 -55 29 32 3 2.4 2.1 DD Moungoundi 75 79 4 3.2 1.4 DD Moungoundi 91 102 11 8.8 1.3 DD Moungoundi 109 111 2 1.6 2.6 DD Moungoundi DSDD359 230670 1426821 152 121 90 -55 12 15 3 2.4 2.2 DD Moungoundi 27 31 4 3.2 1.4 DD Moungoundi 61 67 6 4.8 1.4 DD Moungoundi DSDD360 230647 1426796 151 110 90 -55 NSI DD Moungoundi DSDD361 230625 1426764 150 89 90 -55 NSI DD Moungoundi DSDD372 230835 1426936 155 89 90 -50 49 63 14 11.2 0.7 DD Moungoundi DSDD373 230668 1426846 152 131 90 60 81 89 8 6.4 3.0 DD Moungoundi 81 82 1 0.8 10.6 DD Moungoundi 113 115 2 1.6 5.4 DD Moungoundi DSDD374 230635 1426819 151 110 90 -55 72 78 6 4.8 2.2 DD Moungoundi DSDD375 230616 1426796 151 122 90 -55 NSI DD Moungoundi DSDD382 230455 1426800 148 119 90 -50 NSI DD Moungoundi DSDD383 231070 1426749 154 134 270 -55 NSI DD Moungoundi DSDD384 231089 1426697 153 135 270 -55 84 94.4 10 8.3 1.8 DD Moungoundi DSR777 230896 1426879 154 138 85 -50 54 57 3 2.4 1.7 RC Moungoundi DSR778 230897 1426988 156 96 90 -60 NSI RC Moungoundi DSR779 230652 1426759 150 84 90 -60 NSI RC Moungoundi DSR780 230676 1426727 150 84 90 -60 NSI RC Moungoundi DSR781 230920 1426883 154 114 90 -50 NSI RC Moungoundi DSR782 230853 1426788 153 96 90 -50 49 52 3 2.4 2.9 RC Moungoundi DSR783 230907 1426801 153 103 90 -50 90 98 8 6.4 2.4 RC Moungoundi DSR784 230727 1426865 152 102 100 -60 4 15 11 8.8 0.8 RC Moungoundi DSR801 230957 1426800 154 102 80 -50 NSI RC Moungoundi DSR802 230903 1426750 153 102 80 -50 NSI RC Moungoundi DSR803 230852 1426760 153 78 90 -50 NSI RC Moungoundi DSR804 231340 1426801 153 132 90 -50 60 62 2 1.6 4.4 RC Moungoundi DSR806 230869 1426995 156 102 90 -60 NSI RC Moungoundi DSR807 230675 1426876 152 102 90 -60 45 51 6 4.8 1.3 RC Moungoundi DSR808 230704 1426931 153 171 90 -50 131 143 12 9.6 0.6 RC Moungoundi DSR809 231001 1427004 157 120 90 -50 NSI RC Moungoundi DSR810 230825 1426947 155 126 80 -50 77 81 4 3.2 2.4 RC Moungoundi DSR811 230776 1426947 155 132 90 -50 NSI RC Moungoundi DSR812 230804 1426865 153 114 90 -60 NSI RC Moungoundi DSR813 230901 1427011 157 120 90 -50 NSI RC Moungoundi DSR828 231008 1426821 155 126 265 -55 47 50 3 2.4 2.5 RC Moungoundi DSR829 230930 1426862 154 120 150 -50 54 65 11 8.8 1.4 RC Moungoundi DSR830 230971 1426853 155 108 270 -55 50 54 4 3.2 1.6 RC Moungoundi DSR831 230996 1426802 155 84 270 -55 13 18 5 4.0 2.5 RC Moungoundi 26 28 2 1.6 9.1 RC Moungoundi Incl 27 28 1 0.8 16.5 RC Moungoundi DSR843 231023 1426751 154 96 270 -55 20 31 11 8.8 2.1 RC Moungoundi Incl 24 25 1 0.8 11.2 RC Moungoundi DSR844 231039 1426699 153 114 270 -55 77 84 7 5.6 1.2 RC Moungoundi DSR845 230996 1426879 156 96 270 -55 NSI RC Moungoundi DSR846 231013 1426927 157 120 270 -55 NSI RC Moungoundi DSR847 231030 1426944 157 114 150 -50 NSI RC Moungoundi DSR848 230805 1427012 156 120 90 -50 NSI RC Moungoundi DSR849 230749 1427014 155 132 90 -50 NSI RC Moungoundi DSR862 230423 1426802 148 132 90 -55 NSI RC Moungoundi DSR863 230455 1426843 149 102 90 -55 NSI RC Moungoundi DSR887 230962 1426759 153 100 90 -50 3 5 2 1.6 7.1 RC Moungoundi Incl 3 4 1 0.8 12.6 RC Moungoundi DSR888 230638 1426851 152 150 90 -50 NSI RC Moungoundi DSR889 230869 1426878 154 110 90 -50 NSI RC Moungoundi DSR890 230777 1426871 153 130 90 -60 NSI RC Moungoundi DSDD376 231200 1427800 155 82 270 -50 NSI DD Moungoundi North DSDD377 231192 1427854 156 92 270 -50 NSI DD Moungoundi North DSDD378 231219 1427893 155 128 270 -50 NSI DD Moungoundi North DSDD379 231189 1427752 156 110 270 -50 12 21 9 7.2 0.6 DD Moungoundi North DSDD380 231188 1427697 156 113 270 -50 NSI DD Moungoundi North DSDD381 231156 1427545 157 101 270 -50 NSI DD Moungoundi North DSR805 230954 1427801 158 90 90 -55 55 57 2 1.4 3.5 RC Moungoundi North DSR814 231017 1427596 157 102 90 -50 NSI RC Moungoundi North DSR815 230968 1427598 158 102 90 -50 NSI RC Moungoundi North DSR816 230918 1427600 158 114 90 -50 NSI RC Moungoundi North DSR817 230917 1427800 158 108 90 -55 NSI RC Moungoundi North DSR818 231131 1427805 156 108 90 -55 12 26 14 9.8 2.4 RC Moungoundi North 44 54 10 7.0 0.5 RC Moungoundi North DSR819 231100 1427847 156 96 90 -50 38 60 22 15.4 11.3 RC Moungoundi North Incl 40 41 1 0.7 11.2 RC Moungoundi North and 44 46 2 1.4 28.1 RC Moungoundi North and 49 51 2 1.4 23.5 RC Moungoundi North and 52 54 2 1.4 46.5 RC Moungoundi North DSR820 231053 1427852 156 102 90 -50 NSI RC Moungoundi North DSR821 231000 1427850 157 96 90 -50 NSI RC Moungoundi North DSR822 230948 1427850 157 96 90 -50 NSI RC Moungoundi North DSR823 230904 1427848 157 90 90 -50 NSI RC Moungoundi North DSR824 230795 1427747 158 108 90 -50 NSI RC Moungoundi North DSR825 230853 1427747 158 108 90 -50 33 40 7 4.9 5.1 RC Moungoundi North Incl 37 38 1 0.7 32.9 RC Moungoundi North DSR826 230902 1427755 158 102 90 -50 NSI RC Moungoundi North DSR827 230951 1427752 157 114 90 -50 NSI RC Moungoundi North DSR850 230991 1427200 157 108 90 -50 NSI RC Moungoundi North DSR851 230943 1427201 157 126 90 -50 NSI RC Moungoundi North DSR852 231176 1427602 156 102 270 -50 NSI RC Moungoundi North DSR853 231210 1427647 156 102 270 -50 NSI RC Moungoundi North DSR854 231240 1427695 156 108 270 -50 NSI RC Moungoundi North DSR855 231268 1427893 154 138 270 -50 59 60 1 0.8 11.2 RC Moungoundi North DSR856 231298 1427950 153 120 270 -50 NSI RC Moungoundi North DSR857 231138 1427502 157 108 270 -50 NSI RC Moungoundi North DSR858 231121 1427451 157 90 270 -50 NSI RC Moungoundi North DSR859 231196 1427400 157 138 270 -50 NSI RC Moungoundi North DSDD350 231158 1426273 146 173 90 -50 15 18 3 2.7 7.4 DD Western Splay Incl 15 16 1 0.9 18.3 DD Western Splay 111 114.6 4 3.2 2.1 DD Western Splay 123 128 5 4.5 4.8 DD Western Splay Incl 126 127 1 0.9 10.6 DD Western Splay 133 144 11 9.9 1.6 DD Western Splay DSDD351 231203 1426256 146 149 90 -50 NSI DD Western Splay DSDD362 231223 1426378 155 89 90 -50 39 48 9 8.1 3.2 DD Western Splay DSDD363 231153 1426347 147 221 90 -66 156 162 6 5.4 1.3 DD Western Splay DSDD364 230936 1426255 145 137 90 -50 NSI DD Western Splay DSDD371 231256 1426380 147 77 90 -50 22 28 6 5.4 1.2 DD Western Splay DSDD386 231103 1426281 145 70 90 -50 12 22 10 8.0 1.0 DD Western Splay DSDD388 231095 1426195 145 80 90 -60 NSI DD Western Splay DSDD390 231235 1426326 147 155 90 -55 5 34 29 26.1 1.5 DD Western Splay 63 70 7 6.3 0.8 DD Western Splay DSR785 231197 1426378 149 72 90 -50 49 64 15 13.5 5.1 RC Western Splay Incl 59 62 3 2.7 15.2 RC Western Splay DSR786 231213 1426273 146 144 90 -50 NSI RC Western Splay DSR787 231282 1426301 146 84 100 -50 NSI RC Western Splay DSR791 231498 1426220 148 126 150 -50 99 100 1 0.9 5.7 RC Western Splay DSR864 230975 1426399 147 60 90 -60 NSI RC Western Splay DSR865 231072 1426393 147 80 90 -60 NSI RC Western Splay DSR866 231109 1426298 146 60 90 -50 47 49 2 1.6 8.5 RC Western Splay Incl 47 48 1 0.8 15.8 RC Western Splay DSR867 231041 1426328 146 120 90 -50 NSI RC Western Splay DSR874 231111 1426241 145 90 90 -55 26 28 2 1.6 5.2 RC Western Splay DSR880 231267 1426246 146 102 90 -50 NSI RC Western Splay DSR881 231335 1426244 147 70 90 -50 NSI RC Western Splay DSR882 231338 1426300 148 80 90 -50 NSI RC Western Splay DSR883 231342 1426349 149 70 90 -50 NSI RC Western Splay DSR884 231311 1426374 149 102 90 -50 12 18 6 4.8 7.2 RC Western Splay Incl 12 13 1 0.8 34.7 RC Western Splay DSR885 231280 1426373 149 120 90 -50 NSI RC Western Splay DSR860 230899 1425856 149 78 90 50 NSI RC Western Splay Sth DSR873 230648 1426071 151 108 90 -50 NSI RC Western Splay Sth DSR861 230852 1425846 151 108 90 50 NSI RC Western Splay Sth DSR788 231908 1425981 144 78 150 -55 NSI RC Kassassoko DSR789 231917 1425965 144 90 150 -55 NSI RC Kassassoko DSR790 231914 1425936 144 78 150 -50 NSI RC Kassassoko DSR875 231621 1425876 144 147 150 -53 3 4 1 0.8 18.7 RC Kassassoko 64 77 13 10.4 1.1 RC Kassassoko 89 92 3 2.4 2.6 RC Kassassoko 120 121 1 0.8 5.9 RC Kassassoko DSR876 231608 1425897 145 120 150 -53 31 37 6 4.8 0.8 RC Kassassoko 66 88 22 17.6 2.4 RC Kassassoko Incl 77 78 1 0.8 28.7 RC Kassassoko DSR886 231443 1426091 143 114 95 -50 NSI RC Kassassoko DSDD365 232238 1426244 144 68 150 -50 39.45 43.9 4 3.6 3.2 DD Southern Arc DSDD366 232376 1426325 146 62 150 -50 11 38 27 21.6 4.8 DD Southern Arc Incl 17 19 2 1.6 13.0 DD Southern Arc and 26 28 2 1.6 24.0 DD Southern Arc DSDD367 232398 1426409 147 125 150 -50 30 50.45 20 16.4 4.0 DD Southern Arc 37 38 1 0.8 23.9 DD Southern Arc 43 44 1 0.8 11.0 DD Southern Arc DSDD368 232571 1426250 146 140 150 -50 43 47 4 3.2 1.5 DD Southern Arc 89 115 26 20.8 3.2 DD Southern Arc Incl 91 92 1 0.8 55.3 DD Southern Arc DSDD369 232795 1426235 144 113 150 -50 NSI DD Southern Arc DSDD370 232620 1426268 146 146 150 -50 NSI DD Southern Arc DSDD400 232380 1426344 147 120 150 -50 24 47 23 18.4 2.2 DD Southern Arc DSDD401 232339 1426325 146 93 150 -50 NSI DD Southern Arc DSDD402 232365 1426411 148 137 150 -50 9 20 11 8.8 8.6 DD Southern Arc Incl 9 10 1 0.8 81.9 DD Southern Arc 51 53.4 2.4 1.9 5.9 DD Southern Arc 57.25 58 0.75 0.6 12.8 DD Southern Arc 75 78 3 2.4 6.3 DD Southern Arc DSDD403 232374 1426455 148 140 150 -50 NSI DD Southern Arc DSDD404 232322 1426399 147 123 150 -50 41.35 47 5.65 4.5 1.0 DD Southern Arc 52 64 12 9.6 1.7 DD Southern Arc 72 86.75 14.75 11.8 9.3 DD Southern Arc Incl 72 73 1 0.8 16.5 DD Southern Arc and 76 79 3 2.4 33.4 DD Southern Arc DSDD405 232466 1426430 147 140 150 -50 NSI DD Southern Arc DSDD407 232545 1426184 144 122 150 -50 NSI DD Southern Arc DSR792 232302 1426245 144 108 150 -50 NSI RC Southern Arc DSR793 232220 1426193 145 138 160 -50 86 90 4 3.2 3.7 RC Southern Arc DSR794 232203 1426135 145 102 160 -50 NSI RC Southern Arc DSR795 232186 1426167 145 90 150 -50 NSI RC Southern Arc DSR796 232253 1426219 144 102 155 -50 17 29 12 9.6 2.8 RC Southern Arc DSR797 232387 1426291 145 84 150 -50 4 13 9 7.2 0.8 RC Southern Arc 20 24 4 3.2 3.3 RC Southern Arc DSR798 232431 1426317 146 114 150 -50 NSI RC Southern Arc DSR799 232344 1426274 145 72 150 -50 NSI RC Southern Arc DSR800 232169 1426285 146 138 150 -50 NSI RC Southern Arc DSR832 232397 1426328 146 66 150 -50 22 36 14 11.2 2.3 RC Southern Arc Incl 25 26 1 0.8 11.6 RC Southern Arc DSR833 232404 1426355 147 90 150 -50 NSI RC Southern Arc DSR834 232262 1426262 149 72 150 -50 NSI RC Southern Arc DSR835 232154 1426214 146 102 150 50 NSI RC Southern Arc DSR836 232107 1426191 146 81 150 50 NSI RC Southern Arc DSR837 232424 1426450 147 114 150 -50 NSI RC Southern Arc DSR838 232618 1426419 146 120 150 -50 NSI RC Southern Arc DSR839 232521 1426225 145 102 150 -50 NSI RC Southern Arc DSR840 232514 1426346 146 132 150 -50 35 37 2 1.6 3.3 RC Southern Arc DSR841 232664 1426287 153 96 150 -50 31 35 4 3.2 1.7 RC Southern Arc DSR842 232463 1426307 146 138 150 -50 117 124 7 5.6 0.8 RC Southern Arc DSR891 232432 1426385 147 100 150 -50 53 55 2 1.6 6.0 RC Southern Arc DSR892 232490 1426384 147 114 150 -50 NSI RC Southern Arc DSR893 232560 1426372 146 100 150 -50 NSI RC Southern Arc DSR906 232305 1426435 148 198 150 -50 135 152 17 13.6 8.6 RC Southern Arc Incl 136 138 2 1.6 15.6 RC Southern Arc and 140 142 2 1.6 17.3 RC Southern Arc and 143 144 1 0.8 32.6 RC Southern Arc DSR907 232350 1426362 147 108 150 -50 32 39 7 5.6 1.0 RC Southern Arc Notes: 1. EOH: End of hole2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts4. ETW: Estimated true width5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Photos accompanying this announcement are available at PDF available: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
13-03-2025
- Business
- Associated Press
Fortuna intersects 7.2 g/t Au over 31.5 meters at Kingfisher, Séguéla Mine, Côte d'Ivoire
VANCOUVER, British Columbia, March 13, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Séguéla Mine in Côte d'Ivoire. Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, 'Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit, with several notable intersections including 7.2 g/t Au over an estimated true width of 31.5 meters in drill hole SGRC2278.' Mr. Weedon continued, 'At the Sunbird deposit, deep exploration drilling testing the southern extent has continued to return excellent results, including 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, representing the deepest intercept to date, with mineralization remaining open at depth and down plunge.' Kingfisher deposit Once the infill program and near exploration are successfully completed, we expect to migrate the Kingfisher resources into the Séguéla Mine Mineral Reserves in 2025. Drilling highlights include: An additional 100 drill holes, totaling 10,978 meters of a planned 28,000-meter drilling program, have been completed at the Kingfisher deposit (see Figure 1) as part of the resource confidence infill program (see Figure 2). Drilling remains ongoing across the current pit-constrained Inferred Resource and will also extend to test the immediate margins, both at depth and along strike, where late 2024 drilling identified several promising intervals intersected after the initial resource estimate was completed ( refer to Fortuna's news release dated December 16, 2024). The recent drilling has continued to highlight the widths and grade tenor intersected in the first drilling phase, supporting and refining the geological interpretation. Kingfisher remains open at depth for most of the drilled 2-kilometer strike length, with the deepest drilling testing to only approximately 250 meters below surface (refer to Figure 2). Figure 1: Séguéla Mine deposit locations Figure 2: Kingfisher deposit long-section - looking west Sunbird deposit Drilling has now extended mineralization approximately 700 meters to the south beyond the limit of the current underground Inferred Resource and some 600 meters below surface. Drilling highlights include: Results from a further 10 holes, totaling 5,120 meters of a planned 12,000-meter drilling program have been received, including an interval of 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, which is the deepest intersection drilled at Séguéla (refer to Figure 3). The last phase of the current program will step out above and below the current intersection to further refine the geometry and controls on the interpreted mineralized shoot during the second quarter of 2025. Figure 3: Sunbird long section - looking west Refer to Appendix 1 for full details of the drill holes and assay results for this drill program at the Séguéla Gold Mine. Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel. All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard. All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment. All RC and DD samples were transported to ALS's preparation laboratory in Yamoussoukro, Côte d'Ivoire, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples. Qualified Person Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with four operating mines and exploration activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website. ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and Director Fortuna Mining Corp. Investor Relations: Forward-looking Statements This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about further extension potential at the Kingfisher and Sunbird deposits; statements that the Sunbird deposit continues to support underground mining potential; the Company's expectations regarding drilling in the second quarter of 2025 to step out and above of the current interception to refine the geology and controls on the intercepted mineralized shoot at the Sunbird deposit; mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2023. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. Appendix 1 Séguéla Mine drill program details of the drill holes and assay results for the Kingfisher and Sunbird deposits Kingfisher deposit HoleID Easting (WGS84_29N) Northing (WGS84_29N) Elevation (m) EOH1,2 Depth (m) UTM Azimuth Dip Depth2,3 From (m) Depth2 To (m) Drilled2 Width (m) ETW4 (m) Au (ppm) Hole Type5 Area SGRD2131 743746 892908 428 199.6 90 -60 159 169 10 8.5 0.8 RCD Kingfisher 178 190 12 10.2 3.9 RCD Kingfisher incl 184 185 1 0.9 21.2 RCD Kingfisher SGRD2135 743631 892500 414 220 90 -60 NSI RCD Kingfisher SGRD2137 743719 892906 429 260.2 90 -60 204 213 9 7.7 1.0 RCD Kingfisher SGRD2138 743580 892500 426 290 90 -60 192 197 5 4.3 1.6 RCD Kingfisher SGRD2139 743584 892546 430 105 90 -60 NSI RCD Kingfisher SGRD2146 743584 892545 430 291.3 90 -60 218 230 12 10.2 1.1 RCD Kingfisher SGRC2147 743604 892802 429 60.0 90 -60 Abandon RC Kingfisher SGRD2148 743772 893004 413 228 90 -60 161 179 18 15.3 0.9 RCD Kingfisher SGRD2149 743570 892395 422 295 90 -60 187 195 8 6.8 4.1 RCD Kingfisher incl 190 191 1 0.9 25.6 RCD Kingfisher 200 204 4 3.4 3.5 RCD Kingfisher incl 201 202 1 0.9 11.4 RCD Kingfisher SGRD2150 743604 892802 429 370.4 90 -60 266 297 31 26.4 2.4 RCD Kingfisher incl 267 268 1 0.9 16.1 RCD Kingfisher SGRD2151 743526 892592 445 330 90 -60 NSI RCD Kingfisher SGRD2152 743836 893102 414 160.3 90 -60 121 127 6 5.1 2.3 RCD Kingfisher SGRD2153 743718 892955 429 291.3 90 -60 223 234 11 9.4 10.6 RCD Kingfisher incl 223 224 1 0.9 65.9 RCD Kingfisher and 227 228 1 0.9 44.8 RCD Kingfisher SGRD2154 743456 892592 463 399 90 -60 384 388 4 3.4 2.6 RCD Kingfisher SGRD2155 743808 893102 413 201.3 90 -60 135 138 3 2.6 1.8 RCD Kingfisher 164 168 4 3.4 1.3 RCD Kingfisher SGRD2156 743617 892000 439 168 90 -60 69 81 12 10.2 0.5 RCD Kingfisher SGRD2157 743828 893200 427 150 90 -60 NSI RCD Kingfisher SGRC2252 743868 892982 375 61 90 -60 22 33 11 9.4 1.7 RC Kingfisher SGRC2253 743889 892981 389 30 90 -60 NSI RC Kingfisher SGRC2254 743894 893031 393 36 90 -60 NSI RC Kingfisher SGRC2255 743850 892732 366 50 90 -60 NSI RC Kingfisher SGRC2256 743701 892480 382 66 90 -60 37 39 2 1.7 4.6 RC Kingfisher SGRC2257 743802 892731 388 100 90 -60 12 25 13 11.1 1.7 RC Kingfisher 36 55 19 16.2 0.7 RC Kingfisher SGRC2258 743888 892936 373 30 90 -60 NSI RC Kingfisher SGRC2259 743858 892936 378 60 90 -60 35 44 9 7.7 2.7 RC Kingfisher SGRC2260 743827 892733 368 61 90 -60 NSI RC Kingfisher SGRC2261 734802 892887 398 90 90 -60 NSI RC Kingfisher SGRC2262 743827 892888 394 86 90 -60 67 68 1 0.9 5.4 RC Kingfisher SGRC2263 743772 892730 388 126 90 -60 65 76 11 9.4 0.6 RC Kingfisher 85 105 20 17.0 3.6 RC Kingfisher incl 97 98 1 0.9 11.1 RC Kingfisher and 102 103 1 0.9 27.2 RC Kingfisher SGRC2264 743853 892888 391 54 90 -60 10 27 17 14.5 8.4 RC Kingfisher incl 19 21 2 1.7 62.6 RC Kingfisher 31 38 7 6.0 6.9 RC Kingfisher incl 31 32 1 0.9 43.2 RC Kingfisher SGRC2265 743852 892833 389 61 90 -60 20 31 11 9.4 1.3 RC Kingfisher SGRC2266 743825 892834 389 80 90 -60 21 33 12 10.2 1.4 RC Kingfisher 55 66 11 9.4 1.7 RC Kingfisher SGRC2267 743799 892832 389 113 90 -60 41 61 20 17.0 0.7 RC Kingfisher 70 73 3 2.6 1.8 RC Kingfisher 82 104 22 18.7 0.9 RC Kingfisher SGRC2268 743750 892679 390 134 90 -60 82 109 27 23.0 3.4 RC Kingfisher incl 95 97 2 1.7 27.5 RC Kingfisher SGRC2269 743774 892835 393 133 90 -60 87 99 12 10.2 0.9 RC Kingfisher 118 127 9 7.7 1.2 RC Kingfisher SGRC2270 743773 892680 388 88 90 -60 33 36 3 2.6 3.9 RC Kingfisher 57 72 15 12.8 5.3 RC Kingfisher incl 67 69 2 1.7 34.8 RC Kingfisher SGRC2271 743750 892835 414 36 90 -60 Abandon RC Kingfisher SGRC2273 743824 892682 382 70 90 -60 NSI RC Kingfisher SGRD2275 743747 892778 392 150 90 -60 122 148 26 22.1 3.2 RCD Kingfisher incl 138 139 1 0.9 13.7 RCD Kingfisher and 145 146 1 0.9 27.4 RCD Kingfisher SGRC2276 743726 892478 379 110 90 -60 41 66 25 21.3 1.8 RC Kingfisher incl 60 61 1 0.9 13.6 RC Kingfisher SGRD2277 743799 892681 385 90 90 -60 15 30 15 12.8 1.1 RCD Kingfisher SGRC2278 743701 892480 382 132 90 -60 54 65 11 9.4 2.6 RC Kingfisher 74 76 2 1.7 5.0 RC Kingfisher 91 128 37 31.5 7.2 RC Kingfisher incl 109 110 1 0.9 13.5 RC Kingfisher and 114 115 1 0.9 18.7 RC Kingfisher and 118 120 2 1.7 28.9 RC Kingfisher and 123 124 1 0.9 128.9 RC Kingfisher and 125 126 1 0.9 10.8 RC Kingfisher SGRC2279 743776 892783 393 120 90 -60 72 109 37 31.5 1.2 RC Kingfisher SGRD2280 743725 892629 397 151 90 -60 89 108 19 16.2 8.1 RCD Kingfisher incl 96 100 4 3.4 18.7 RCD Kingfisher and 106 108 2 1.7 24.6 RCD Kingfisher and 112 114 2 1.7 6.2 RCD Kingfisher incl 113 114 1 0.9 11.8 RCD Kingfisher SGRC2281 743798 892477 383 50 90 -60 NSI RC Kingfisher SGRC2282 743751 892631 395 117 90 -60 58 75 17 14.5 1.2 RC Kingfisher 79 87 8 6.8 3.6 RC Kingfisher incl 79 80 1 0.9 19.1 RC Kingfisher SGRC2283 743776 892478 399 70 90 -60 NSI RC Kingfisher SGRC2284 743773 892631 390 100 90 -60 33 48 15 12.8 1.0 RC Kingfisher SGRC2285 743725 892430 383 102 90 -60 33 75 42 35.7 2.5 RC Kingfisher incl 36 37 1 0.9 11.0 RC Kingfisher and 53 54 1 0.9 11.6 RC Kingfisher and 65 66 1 0.9 13.2 RC Kingfisher SGRC2286 743801 892801 391 86 90 -60 66 77 11 9.4 0.8 RC Kingfisher SGRC2287 743800 892631 386 81 90 -60 2 12 10 8.5 6.7 RC Kingfisher incl 5 6 1 0.9 30.3 RC Kingfisher and 9 10 1 0.9 16.1 RC Kingfisher SGRC2288 743775 892428 380 60 90 -60 NSI RC Kingfisher SGRC2289 743751 892433 379 80 90 -60 NSI RC Kingfisher SGRC2290 743802 892581 385 50 90 -60 NSI RC Kingfisher SGRC2291 743799 892429 379 40 90 -60 NSI RC Kingfisher SGRC2292 743776 892583 380 70 90 -60 3 16 13 11.1 0.8 RC Kingfisher SGRC2293 743751 892581 383 97 90 -60 34 56 22 18.7 2.1 RC Kingfisher incl 52 53 1 0.9 13.6 RC Kingfisher and 55 56 1 0.9 11.6 RC Kingfisher SGRC2295 743751 892479 382 90 90 -60 NSI RC Kingfisher SGRC2296 743824 892781 390 80 90 -60 2 8 6 5.1 1.0 RC Kingfisher 19 39 20 17.0 0.9 RC Kingfisher SGRC2297 743852 892782 382 60 90 -60 3 18 15 12.8 1.0 RC Kingfisher SGRC2298 743725 892582 391 132 90 -60 66 79 13 11.1 1.5 RC Kingfisher incl 78 79 1 0.9 10.3 RC Kingfisher SGRC2299 743800 892532 377 50 90 -60 NSI RC Kingfisher SGRC2300 743775 892531 379 70 90 -60 NSI RC Kingfisher SGRC2302 743779 892379 376 36 90 -60 NSI RC Kingfisher SGRC2303 743752 892380 377 60 90 -60 NSI RC Kingfisher SGRC2304 743751 892730 391 135 90 -60 19 20 1 0.9 5.6 RC Kingfisher 74 80 6 5.1 1.3 RC Kingfisher 90 132 42 35.7 2.7 RC Kingfisher incl 118 119 1 0.9 23.1 RC Kingfisher and 130 131 1 0.9 33.9 RC Kingfisher SGRC2306 743752 892528 383 90 90 -60 22 29 7 6.0 1.1 RC Kingfisher SGRC2307 743728 892528 388 110 90 -60 48 59 11 9.4 1.0 RC Kingfisher 76 85 9 7.7 2.8 RC Kingfisher SGRC2308 743726 892380 377 80 90 -60 19 36 17 14.5 2.3 RC Kingfisher incl 34 35 1 0.9 14.0 RC Kingfisher SGRC2309 743701 892380 381 104 90 -60 46 88 42 35.7 3.3 RC Kingfisher incl 71 72 1 0.9 12.1 RC Kingfisher and 74 75 1 0.9 26.2 RC Kingfisher and 79 80 1 0.9 18.1 RC Kingfisher and 82 83 1 0.9 18.3 RC Kingfisher SGRC2311 743674 892379 383 111 90 -60 42 48 6 5.1 1.7 RC Kingfisher 70 74 4 3.4 2.2 RC Kingfisher 78 95 17 14.5 0.7 RC Kingfisher 99 105 6 5.1 1.0 RC Kingfisher SGRC2312 743700 892530 390 150 90 -60 72 78 6 5.1 1.4 RC Kingfisher 86 132 46 39.1 3.8 RC Kingfisher incl 104 105 1 0.9 13.1 RC Kingfisher and 110 111 1 0.9 11.6 RC Kingfisher and 123 125 2 1.7 44.2 RC Kingfisher SGRC2314 743776 892330 376 30 90 -60 NSI RC Kingfisher SGRC2315 743749 892331 377 50 90 -60 NSI RC Kingfisher SGRC2316 743726 892330 379 70 90 -60 6 10 4 3.4 1.9 RC Kingfisher SGRC2317 743700 892581 396 130 90 -60 97 120 23 19.6 2.1 RC Kingfisher SGRC2318 743700 892328 380 90 90 -60 36 70 34 28.9 2.2 RC Kingfisher incl 52 53 1 0.9 23.6 RC Kingfisher SGRC2320 743674 892330 399 108 90 -60 36 43 7 6.0 1.0 RC Kingfisher 64 78 14 11.9 1.3 RC Kingfisher 82 108 26 22.1 1.6 RC Kingfisher incl 102 103 1 0.9 11.6 RC Kingfisher SGRC2322 743676 892482 387 156 90 -60 108 130 22 18.7 2.1 RC Kingfisher 140 154 14 11.9 7.9 RC Kingfisher incl 144 145 1 0.9 15.0 RC Kingfisher and 149 150 1 0.9 68.5 RC Kingfisher SGRC2325 743775 892278 375 30 90 -60 NSI RC Kingfisher SGRC2328 743753 892279 369 50 90 -60 NSI RC Kingfisher SGRC2329 743725 892277 377 70 90 -60 NSI RC Kingfisher SGRC2330 743748 892226 375 40 90 -60 NSI RC Kingfisher SGRD2331 743649 892380 377 150 90 -60 70 73 3 2.6 5.0 RCD Kingfisher SGRD2332 743675 892531 405 174 90 -60 101 124 23 19.6 2.1 RCD Kingfisher incl 109 110 1 0.9 10.8 RCD Kingfisher 158 163 5 4.3 1.8 RCD Kingfisher SGRC2334 743725 892229 377 60 90 -60 NSI RC Kingfisher SGRC2336 743701 892230 388 80 90 -60 15 29 14 11.9 1.2 RC Kingfisher 37 51 14 11.9 2.2 RC Kingfisher incl 48 49 1 0.9 15.3 RC Kingfisher SGRC2337 743675 892231 390 100 90 -60 43 74 31 26.4 3.5 RC Kingfisher incl 44 45 1 0.9 18.7 RC Kingfisher and 52 54 2 1.7 10.7 RC Kingfisher 78 91 13 11.1 2.6 RC Kingfisher incl 81 82 1 0.9 13.4 RC Kingfisher SGRD2341 743624 892232 391 132 90 -60 80 97 17 14.5 1.5 RCD Kingfisher SGRC2342 743752 892182 376 30 90 -60 NSI RC Kingfisher SGRC2343 743726 892182 377 50 90 -60 NSI RC Kingfisher SGRC2344 743700 892179 378 70 90 -60 10 14 4 3.4 2.2 RC Kingfisher 18 40 22 18.7 3.9 RC Kingfisher incl 24 25 1 0.9 23.7 RC Kingfisher and 28 29 1 0.9 14.8 RC Kingfisher and 35 36 1 0.9 20.7 RC Kingfisher SGRC2345 743679 892179 391 94 90 -60 34 71 37 31.5 3.1 RC Kingfisher incl 35 38 3 2.6 18.1 RC Kingfisher SGRC2346 743650 892179 381 112 90 -60 53 54 1 0.9 6.7 RC Kingfisher 59 78 19 16.2 3.7 RC Kingfisher incl 71 73 2 1.7 24.0 RC Kingfisher SGRC2348 743602 892181 403 153 90 -60 90 103 13 11.1 1.4 RC Kingfisher 114 119 5 4.3 1.5 RC Kingfisher 126 134 8 6.8 1.9 RC Kingfisher SGRC2351 743725 892132 405 30 90 -60 NSI RC Kingfisher SGRC2352 743701 892131 405 72 90 -60 12 32 20 17.0 3.7 RC Kingfisher incl 22 23 1 0.9 12.0 RC Kingfisher and 26 27 1 0.9 16.7 RC Kingfisher and 28 29 1 0.9 13.7 RC Kingfisher SGRC2355 743721 892075 388 34 90 -60 NSI RC Kingfisher SGRC2356 743698 892074 387 40 90 -60 NSI RC Kingfisher SGRC2357 743676 892076 386 74 90 -60 35 49 14 11.9 1.0 RC Kingfisher Notes: 1. EOH: End of hole 2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts 4. ETW: Estimated true width 5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Sunbird deposit HoleID Easting (WGS84_29N) Northing (WGS84_29N) Elevation (m) EOH1,2 Depth (m) UTM Azimuth Dip Depth2,3 From (m) Depth2 To (m) Drilled2 Width (m) ETW4 (m) Au (ppm) Hole Type5 Area SGRD2205 742500 892435 554 450.2 90 -60 363 374 11 7.7 2.2 RCD Sunbird 406 414 8 5.6 3.3 RCD Sunbird incl 407 408 1 0.7 11.0 RCD Sunbird 423 426 3 2.1 4.8 RCD Sunbird incl 425 426 1 0.7 11.2 RCD Sunbird 434 440 6 4.2 2.4 RCD Sunbird SGRD2206 742505 892550 553 456.1 90 -60 351 352 1 0.7 12.2 RCD Sunbird 444 448 4 2.8 2.3 RCD Sunbird SGRD2207 742565 892485 565 370.2 90 -60 250 255 5 3.5 8.3 RCD Sunbird incl 250 251 1 0.7 16.8 RCD Sunbird and 252 253 1 0.7 10.9 RCD Sunbird 281 286 5 3.5 3.3 RCD Sunbird incl 284 285 1 0.7 10.9 RCD Sunbird 301 307 6 4.2 6.0 RCD Sunbird incl 304 305 1 0.7 11.2 RCD Sunbird SGRD2208 742370 892125 596 630.1 90 -60 561 572 11 7.7 2.9 RCD Sunbird incl 570 571 1 0.7 15.0 RCD Sunbird 583 591 8 5.6 9.3 RCD Sunbird incl 585 586 1 0.7 60.5 RCD Sunbird 595 598 3 2.1 7.5 RCD Sunbird incl 595 596 1 0.7 17.4 RCD Sunbird SGRD2209 742445 892335 567 500.2 90 -60 466 482 16 11.2 1.9 RCD Sunbird SGRD2211 742324 892026 603 708 90 -60 214 217 3 2.1 2.9 RCD Sunbird 648 682 34 23.8 3.9 RCD Sunbird incl 670 672 2 1.4 38.0 RCD Sunbird 688 690 2 1.4 3.9 RCD Sunbird SGRD2212 742540 892510 563 405 90 -60 339 371 32 22.4 6.3 RCD Sunbird incl 342 344 2 1.4 12.6 RCD Sunbird and 345 348 3 2.1 29.1 RCD Sunbird and 349 350 1 0.7 14.9 RCD Sunbird and 356 357 1 0.7 13.3 RCD Sunbird SGRD2213 742575 892610 568 400.1 90 -60 308 319 11 7.7 2.2 RCD Sunbird SGRD2214 742500 892360 564 420 90 -60 274 276 2 1.4 2.9 RCD Sunbird 320 328 8 5.6 1.4 RCD Sunbird 337 345 8 5.6 2.2 RCD Sunbird incl 337 338 1 0.7 13.8 RCD Sunbird 354 362 8 5.6 2.4 RCD Sunbird 370 380 10 7.0 4.6 RCD Sunbird incl 371 372 1 0.7 13.6 RCD Sunbird and 373 374 1 0.7 13.2 RCD Sunbird SGRD2215 742280 891928 600 780 90 -60 694 718 24 16.8 0.9 RCD Sunbird 723 728 5 3.5 1.0 RCD Sunbird 733 766 33 23.1 4.3 RCD Sunbird incl 735 736 1 0.7 45.8 RCD Sunbird and 741 742 1 0.7 10.4 RCD Sunbird and 745 746 1 0.7 14.9 RCD Sunbird Notes: 1. EOH: End of hole 2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts 4. ETW: Estimated true width 5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Photos accompanying this announcement are available at A PDF accompanying this announcement is available at
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13-03-2025
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Fortuna intersects 7.2 g/t Au over 31.5 meters at Kingfisher, Séguéla Mine, Côte d'Ivoire
VANCOUVER, British Columbia, March 13, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide an update on its exploration programs at the Séguéla Mine in Côte d'Ivoire. Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, 'Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit, with several notable intersections including 7.2 g/t Au over an estimated true width of 31.5 meters in drill hole SGRC2278.' Mr. Weedon continued, 'At the Sunbird deposit, deep exploration drilling testing the southern extent has continued to return excellent results, including 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, representing the deepest intercept to date, with mineralization remaining open at depth and down plunge.' Kingfisher deposit Once the infill program and near exploration are successfully completed, we expect to migrate the Kingfisher resources into the Séguéla Mine Mineral Reserves in 2025. Drilling highlights include: SGRD2153: 10.6 g/t Au65.9 g/t Au44.8 g/t Au over an estimated true width of 9.4 meters from 223 meters, includingover an estimated true width of 0.9 meters from 223 meters, and over an estimated true width of 0.9 meters from 227 meters SGRC2264: 8.4 g/t Au62.6 g/t Au6.9 g/t Au43.2 g/t Au over an estimated true width of 14.5 meters from 10 meters, includingover an estimated true width of 1.7 meters from 19 meters over an estimated true width of 6.0 meters from 31 meters, including over an estimated true width of 0.9 meters from 31 meters SGRC2278: 7.2 g/t Au28.9 g/t Au128.9 g/t Au over an estimated true width of 31.5 meters from 91 meters, includingover an estimated true width of 1.7 meters from 118 meters, andover an estimated true width of 0.9 meters from 123 meters SGRD2280: 8.1 g/t Au18.7 g/t Au24.6 g/t Au over an estimated true width of 16.2 meters from 89 meters, includingover an estimated true width of 3.4 meters from 96 meters over an estimated true width of 1.7 meters from 106 meters SGRC2309: 3.3 g/t Au26.2 g/t Au over an estimated true width of 35.7 meters from 46 meters, including over an estimated true width of 0.9 meters from 74 meters SGRC2312: 3.8 g/t Au44.2 g/t Au over an estimated true width of 39.1 meters from 86 meters, includingover an estimated true width of 1.7 meters from 123 meters SGRC2322: 7.9 g/t Au68.5 g/t Au over an estimated true width of 11.9 meters from 140 meters, includingover an estimated true width of 0.9 meters from 149 meters An additional 100 drill holes, totaling 10,978 meters of a planned 28,000-meter drilling program, have been completed at the Kingfisher deposit (see Figure 1) as part of the resource confidence infill program (see Figure 2). Drilling remains ongoing across the current pit-constrained Inferred Resource and will also extend to test the immediate margins, both at depth and along strike, where late 2024 drilling identified several promising intervals intersected after the initial resource estimate was completed (refer to Fortuna's news release dated December 16, 2024). The recent drilling has continued to highlight the widths and grade tenor intersected in the first drilling phase, supporting and refining the geological interpretation. Kingfisher remains open at depth for most of the drilled 2-kilometer strike length, with the deepest drilling testing to only approximately 250 meters below surface (refer to Figure 2). Figure 1: Séguéla Mine deposit locations Figure 2: Kingfisher deposit long-section - looking west Sunbird deposit Drilling has now extended mineralization approximately 700 meters to the south beyond the limit of the current underground Inferred Resource and some 600 meters below surface. Drilling highlights include: SGRD2207: 8.3 g/t Au6.0 g/t Au over an estimated true width of 3.5 meters from 250 metersover an estimated true width of 4.2 meters from 301 meters SGRD2208: 9.3 g/t Au60.5 g/t Au7.5 g/t Au17.4 g/t Au over an estimated true width of 5.6 meters from 583 meters, includingover an estimated true width of 0.7 meters from 585 meters over an estimated true width of 2.1 meters from 595 meters, includingover an estimated true width of 0.7 meters from 595 meters SGRD2211: 3.9 g/t Au38.0 g/t Au over an estimated true width of 23.8 meters from 648 meters, includingover an estimated true width of 1.4 meters from 670 meters SGRD2212: 6.3 g/t Au12.6 g/t Au29.1 g/t Au over an estimated true width of 22.4 meters from 339 meters, includingover an estimated true width of 1.4 meters from 342 meters andover an estimated true width of 2.1 meters from 345 meters SGRD2214: 4.6 g/t Au over an estimated true width of 7.0 meters from 370 meters SGRD2215: 4.3 g/t Au45.8 g/t Au over an estimated true width of 23.1 meters from 733 meters, includingover an estimated true width of 0.7 meters from 735 meters Results from a further 10 holes, totaling 5,120 meters of a planned 12,000-meter drilling program have been received, including an interval of 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, which is the deepest intersection drilled at Séguéla (refer to Figure 3). The last phase of the current program will step out above and below the current intersection to further refine the geometry and controls on the interpreted mineralized shoot during the second quarter of 2025. Figure 3: Sunbird long section - looking west Refer to Appendix 1 for full details of the drill holes and assay results for this drill program at the Séguéla Gold Mine. Quality Assurance & Quality Control (QA - QC) All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel. All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard. All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment. All RC and DD samples were transported to ALS's preparation laboratory in Yamoussoukro, Côte d'Ivoire, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples. Qualified Person Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process. About Fortuna Mining Corp. Fortuna Mining Corp. is a Canadian precious metals mining company with four operating mines and exploration activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website. ON BEHALF OF THE BOARD Jorge A. Ganoza President, CEO, and DirectorFortuna Mining Corp. Investor Relations: Carlos Baca | info@ | | X | LinkedIn | YouTube Forward-looking Statements This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about further extension potential at the Kingfisher and Sunbird deposits; statements that the Sunbird deposit continues to support underground mining potential; the Company's expectations regarding drilling in the second quarter of 2025 to step out and above of the current interception to refine the geology and controls on the intercepted mineralized shoot at the Sunbird deposit; mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2023. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements. Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. Appendix 1 Séguéla Mine drill program details of the drill holes and assay results for the Kingfisher and Sunbird deposits Kingfisher deposit HoleID Easting (WGS84_29N) Northing (WGS84_29N) Elevation (m) EOH1,2 Depth (m) UTM Azimuth Dip Depth2,3From (m) Depth2To (m) Drilled2Width (m) ETW4(m) Au (ppm) Hole Type5 Area SGRD2131 743746 892908 428 199.6 90 -60 159 169 10 8.5 0.8 RCD Kingfisher 178 190 12 10.2 3.9 RCD Kingfisher incl 184 185 1 0.9 21.2 RCD Kingfisher SGRD2135 743631 892500 414 220 90 -60 NSI RCD Kingfisher SGRD2137 743719 892906 429 260.2 90 -60 204 213 9 7.7 1.0 RCD Kingfisher SGRD2138 743580 892500 426 290 90 -60 192 197 5 4.3 1.6 RCD Kingfisher SGRD2139 743584 892546 430 105 90 -60 NSI RCD Kingfisher SGRD2146 743584 892545 430 291.3 90 -60 218 230 12 10.2 1.1 RCD Kingfisher SGRC2147 743604 892802 429 60.0 90 -60 Abandon RC Kingfisher SGRD2148 743772 893004 413 228 90 -60 161 179 18 15.3 0.9 RCD Kingfisher SGRD2149 743570 892395 422 295 90 -60 187 195 8 6.8 4.1 RCD Kingfisher incl 190 191 1 0.9 25.6 RCD Kingfisher 200 204 4 3.4 3.5 RCD Kingfisher incl 201 202 1 0.9 11.4 RCD Kingfisher SGRD2150 743604 892802 429 370.4 90 -60 266 297 31 26.4 2.4 RCD Kingfisher incl 267 268 1 0.9 16.1 RCD Kingfisher SGRD2151 743526 892592 445 330 90 -60 NSI RCD Kingfisher SGRD2152 743836 893102 414 160.3 90 -60 121 127 6 5.1 2.3 RCD Kingfisher SGRD2153 743718 892955 429 291.3 90 -60 223 234 11 9.4 10.6 RCD Kingfisher incl 223 224 1 0.9 65.9 RCD Kingfisher and 227 228 1 0.9 44.8 RCD Kingfisher SGRD2154 743456 892592 463 399 90 -60 384 388 4 3.4 2.6 RCD Kingfisher SGRD2155 743808 893102 413 201.3 90 -60 135 138 3 2.6 1.8 RCD Kingfisher 164 168 4 3.4 1.3 RCD Kingfisher SGRD2156 743617 892000 439 168 90 -60 69 81 12 10.2 0.5 RCD Kingfisher SGRD2157 743828 893200 427 150 90 -60 NSI RCD Kingfisher SGRC2252 743868 892982 375 61 90 -60 22 33 11 9.4 1.7 RC Kingfisher SGRC2253 743889 892981 389 30 90 -60 NSI RC Kingfisher SGRC2254 743894 893031 393 36 90 -60 NSI RC Kingfisher SGRC2255 743850 892732 366 50 90 -60 NSI RC Kingfisher SGRC2256 743701 892480 382 66 90 -60 37 39 2 1.7 4.6 RC Kingfisher SGRC2257 743802 892731 388 100 90 -60 12 25 13 11.1 1.7 RC Kingfisher 36 55 19 16.2 0.7 RC Kingfisher SGRC2258 743888 892936 373 30 90 -60 NSI RC Kingfisher SGRC2259 743858 892936 378 60 90 -60 35 44 9 7.7 2.7 RC Kingfisher SGRC2260 743827 892733 368 61 90 -60 NSI RC Kingfisher SGRC2261 734802 892887 398 90 90 -60 NSI RC Kingfisher SGRC2262 743827 892888 394 86 90 -60 67 68 1 0.9 5.4 RC Kingfisher SGRC2263 743772 892730 388 126 90 -60 65 76 11 9.4 0.6 RC Kingfisher 85 105 20 17.0 3.6 RC Kingfisher incl 97 98 1 0.9 11.1 RC Kingfisher and 102 103 1 0.9 27.2 RC Kingfisher SGRC2264 743853 892888 391 54 90 -60 10 27 17 14.5 8.4 RC Kingfisher incl 19 21 2 1.7 62.6 RC Kingfisher 31 38 7 6.0 6.9 RC Kingfisher incl 31 32 1 0.9 43.2 RC Kingfisher SGRC2265 743852 892833 389 61 90 -60 20 31 11 9.4 1.3 RC Kingfisher SGRC2266 743825 892834 389 80 90 -60 21 33 12 10.2 1.4 RC Kingfisher 55 66 11 9.4 1.7 RC Kingfisher SGRC2267 743799 892832 389 113 90 -60 41 61 20 17.0 0.7 RC Kingfisher 70 73 3 2.6 1.8 RC Kingfisher 82 104 22 18.7 0.9 RC Kingfisher SGRC2268 743750 892679 390 134 90 -60 82 109 27 23.0 3.4 RC Kingfisher incl 95 97 2 1.7 27.5 RC Kingfisher SGRC2269 743774 892835 393 133 90 -60 87 99 12 10.2 0.9 RC Kingfisher 118 127 9 7.7 1.2 RC Kingfisher SGRC2270 743773 892680 388 88 90 -60 33 36 3 2.6 3.9 RC Kingfisher 57 72 15 12.8 5.3 RC Kingfisher incl 67 69 2 1.7 34.8 RC Kingfisher SGRC2271 743750 892835 414 36 90 -60 Abandon RC Kingfisher SGRC2273 743824 892682 382 70 90 -60 NSI RC Kingfisher SGRD2275 743747 892778 392 150 90 -60 122 148 26 22.1 3.2 RCD Kingfisher incl 138 139 1 0.9 13.7 RCD Kingfisher and 145 146 1 0.9 27.4 RCD Kingfisher SGRC2276 743726 892478 379 110 90 -60 41 66 25 21.3 1.8 RC Kingfisher incl 60 61 1 0.9 13.6 RC Kingfisher SGRD2277 743799 892681 385 90 90 -60 15 30 15 12.8 1.1 RCD Kingfisher SGRC2278 743701 892480 382 132 90 -60 54 65 11 9.4 2.6 RC Kingfisher 74 76 2 1.7 5.0 RC Kingfisher 91 128 37 31.5 7.2 RC Kingfisher incl 109 110 1 0.9 13.5 RC Kingfisher and 114 115 1 0.9 18.7 RC Kingfisher and 118 120 2 1.7 28.9 RC Kingfisher and 123 124 1 0.9 128.9 RC Kingfisher and 125 126 1 0.9 10.8 RC Kingfisher SGRC2279 743776 892783 393 120 90 -60 72 109 37 31.5 1.2 RC Kingfisher SGRD2280 743725 892629 397 151 90 -60 89 108 19 16.2 8.1 RCD Kingfisher incl 96 100 4 3.4 18.7 RCD Kingfisher and 106 108 2 1.7 24.6 RCD Kingfisher and 112 114 2 1.7 6.2 RCD Kingfisher incl 113 114 1 0.9 11.8 RCD Kingfisher SGRC2281 743798 892477 383 50 90 -60 NSI RC Kingfisher SGRC2282 743751 892631 395 117 90 -60 58 75 17 14.5 1.2 RC Kingfisher 79 87 8 6.8 3.6 RC Kingfisher incl 79 80 1 0.9 19.1 RC Kingfisher SGRC2283 743776 892478 399 70 90 -60 NSI RC Kingfisher SGRC2284 743773 892631 390 100 90 -60 33 48 15 12.8 1.0 RC Kingfisher SGRC2285 743725 892430 383 102 90 -60 33 75 42 35.7 2.5 RC Kingfisher incl 36 37 1 0.9 11.0 RC Kingfisher and 53 54 1 0.9 11.6 RC Kingfisher and 65 66 1 0.9 13.2 RC Kingfisher SGRC2286 743801 892801 391 86 90 -60 66 77 11 9.4 0.8 RC Kingfisher SGRC2287 743800 892631 386 81 90 -60 2 12 10 8.5 6.7 RC Kingfisher incl 5 6 1 0.9 30.3 RC Kingfisher and 9 10 1 0.9 16.1 RC Kingfisher SGRC2288 743775 892428 380 60 90 -60 NSI RC Kingfisher SGRC2289 743751 892433 379 80 90 -60 NSI RC Kingfisher SGRC2290 743802 892581 385 50 90 -60 NSI RC Kingfisher SGRC2291 743799 892429 379 40 90 -60 NSI RC Kingfisher SGRC2292 743776 892583 380 70 90 -60 3 16 13 11.1 0.8 RC Kingfisher SGRC2293 743751 892581 383 97 90 -60 34 56 22 18.7 2.1 RC Kingfisher incl 52 53 1 0.9 13.6 RC Kingfisher and 55 56 1 0.9 11.6 RC Kingfisher SGRC2295 743751 892479 382 90 90 -60 NSI RC Kingfisher SGRC2296 743824 892781 390 80 90 -60 2 8 6 5.1 1.0 RC Kingfisher 19 39 20 17.0 0.9 RC Kingfisher SGRC2297 743852 892782 382 60 90 -60 3 18 15 12.8 1.0 RC Kingfisher SGRC2298 743725 892582 391 132 90 -60 66 79 13 11.1 1.5 RC Kingfisher incl 78 79 1 0.9 10.3 RC Kingfisher SGRC2299 743800 892532 377 50 90 -60 NSI RC Kingfisher SGRC2300 743775 892531 379 70 90 -60 NSI RC Kingfisher SGRC2302 743779 892379 376 36 90 -60 NSI RC Kingfisher SGRC2303 743752 892380 377 60 90 -60 NSI RC Kingfisher SGRC2304 743751 892730 391 135 90 -60 19 20 1 0.9 5.6 RC Kingfisher 74 80 6 5.1 1.3 RC Kingfisher 90 132 42 35.7 2.7 RC Kingfisher incl 118 119 1 0.9 23.1 RC Kingfisher and 130 131 1 0.9 33.9 RC Kingfisher SGRC2306 743752 892528 383 90 90 -60 22 29 7 6.0 1.1 RC Kingfisher SGRC2307 743728 892528 388 110 90 -60 48 59 11 9.4 1.0 RC Kingfisher 76 85 9 7.7 2.8 RC Kingfisher SGRC2308 743726 892380 377 80 90 -60 19 36 17 14.5 2.3 RC Kingfisher incl 34 35 1 0.9 14.0 RC Kingfisher SGRC2309 743701 892380 381 104 90 -60 46 88 42 35.7 3.3 RC Kingfisher incl 71 72 1 0.9 12.1 RC Kingfisher and 74 75 1 0.9 26.2 RC Kingfisher and 79 80 1 0.9 18.1 RC Kingfisher and 82 83 1 0.9 18.3 RC Kingfisher SGRC2311 743674 892379 383 111 90 -60 42 48 6 5.1 1.7 RC Kingfisher 70 74 4 3.4 2.2 RC Kingfisher 78 95 17 14.5 0.7 RC Kingfisher 99 105 6 5.1 1.0 RC Kingfisher SGRC2312 743700 892530 390 150 90 -60 72 78 6 5.1 1.4 RC Kingfisher 86 132 46 39.1 3.8 RC Kingfisher incl 104 105 1 0.9 13.1 RC Kingfisher and 110 111 1 0.9 11.6 RC Kingfisher and 123 125 2 1.7 44.2 RC Kingfisher SGRC2314 743776 892330 376 30 90 -60 NSI RC Kingfisher SGRC2315 743749 892331 377 50 90 -60 NSI RC Kingfisher SGRC2316 743726 892330 379 70 90 -60 6 10 4 3.4 1.9 RC Kingfisher SGRC2317 743700 892581 396 130 90 -60 97 120 23 19.6 2.1 RC Kingfisher SGRC2318 743700 892328 380 90 90 -60 36 70 34 28.9 2.2 RC Kingfisher incl 52 53 1 0.9 23.6 RC Kingfisher SGRC2320 743674 892330 399 108 90 -60 36 43 7 6.0 1.0 RC Kingfisher 64 78 14 11.9 1.3 RC Kingfisher 82 108 26 22.1 1.6 RC Kingfisher incl 102 103 1 0.9 11.6 RC Kingfisher SGRC2322 743676 892482 387 156 90 -60 108 130 22 18.7 2.1 RC Kingfisher 140 154 14 11.9 7.9 RC Kingfisher incl 144 145 1 0.9 15.0 RC Kingfisher and 149 150 1 0.9 68.5 RC Kingfisher SGRC2325 743775 892278 375 30 90 -60 NSI RC Kingfisher SGRC2328 743753 892279 369 50 90 -60 NSI RC Kingfisher SGRC2329 743725 892277 377 70 90 -60 NSI RC Kingfisher SGRC2330 743748 892226 375 40 90 -60 NSI RC Kingfisher SGRD2331 743649 892380 377 150 90 -60 70 73 3 2.6 5.0 RCD Kingfisher SGRD2332 743675 892531 405 174 90 -60 101 124 23 19.6 2.1 RCD Kingfisher incl 109 110 1 0.9 10.8 RCD Kingfisher 158 163 5 4.3 1.8 RCD Kingfisher SGRC2334 743725 892229 377 60 90 -60 NSI RC Kingfisher SGRC2336 743701 892230 388 80 90 -60 15 29 14 11.9 1.2 RC Kingfisher 37 51 14 11.9 2.2 RC Kingfisher incl 48 49 1 0.9 15.3 RC Kingfisher SGRC2337 743675 892231 390 100 90 -60 43 74 31 26.4 3.5 RC Kingfisher incl 44 45 1 0.9 18.7 RC Kingfisher and 52 54 2 1.7 10.7 RC Kingfisher 78 91 13 11.1 2.6 RC Kingfisher incl 81 82 1 0.9 13.4 RC Kingfisher SGRD2341 743624 892232 391 132 90 -60 80 97 17 14.5 1.5 RCD Kingfisher SGRC2342 743752 892182 376 30 90 -60 NSI RC Kingfisher SGRC2343 743726 892182 377 50 90 -60 NSI RC Kingfisher SGRC2344 743700 892179 378 70 90 -60 10 14 4 3.4 2.2 RC Kingfisher 18 40 22 18.7 3.9 RC Kingfisher incl 24 25 1 0.9 23.7 RC Kingfisher and 28 29 1 0.9 14.8 RC Kingfisher and 35 36 1 0.9 20.7 RC Kingfisher SGRC2345 743679 892179 391 94 90 -60 34 71 37 31.5 3.1 RC Kingfisher incl 35 38 3 2.6 18.1 RC Kingfisher SGRC2346 743650 892179 381 112 90 -60 53 54 1 0.9 6.7 RC Kingfisher 59 78 19 16.2 3.7 RC Kingfisher incl 71 73 2 1.7 24.0 RC Kingfisher SGRC2348 743602 892181 403 153 90 -60 90 103 13 11.1 1.4 RC Kingfisher 114 119 5 4.3 1.5 RC Kingfisher 126 134 8 6.8 1.9 RC Kingfisher SGRC2351 743725 892132 405 30 90 -60 NSI RC Kingfisher SGRC2352 743701 892131 405 72 90 -60 12 32 20 17.0 3.7 RC Kingfisher incl 22 23 1 0.9 12.0 RC Kingfisher and 26 27 1 0.9 16.7 RC Kingfisher and 28 29 1 0.9 13.7 RC Kingfisher SGRC2355 743721 892075 388 34 90 -60 NSI RC Kingfisher SGRC2356 743698 892074 387 40 90 -60 NSI RC Kingfisher SGRC2357 743676 892076 386 74 90 -60 35 49 14 11.9 1.0 RC Kingfisher Notes: 1. EOH: End of hole2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts4. ETW: Estimated true width5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Sunbird deposit HoleID Easting (WGS84_29N) Northing (WGS84_29N) Elevation (m) EOH1,2 Depth (m) UTM Azimuth Dip Depth2,3From (m) Depth2To (m) Drilled2Width (m) ETW4(m) Au (ppm) Hole Type5 Area SGRD2205 742500 892435 554 450.2 90 -60 363 374 11 7.7 2.2 RCD Sunbird 406 414 8 5.6 3.3 RCD Sunbird incl 407 408 1 0.7 11.0 RCD Sunbird 423 426 3 2.1 4.8 RCD Sunbird incl 425 426 1 0.7 11.2 RCD Sunbird 434 440 6 4.2 2.4 RCD Sunbird SGRD2206 742505 892550 553 456.1 90 -60 351 352 1 0.7 12.2 RCD Sunbird 444 448 4 2.8 2.3 RCD Sunbird SGRD2207 742565 892485 565 370.2 90 -60 250 255 5 3.5 8.3 RCD Sunbird incl 250 251 1 0.7 16.8 RCD Sunbird and 252 253 1 0.7 10.9 RCD Sunbird 281 286 5 3.5 3.3 RCD Sunbird incl 284 285 1 0.7 10.9 RCD Sunbird 301 307 6 4.2 6.0 RCD Sunbird incl 304 305 1 0.7 11.2 RCD Sunbird SGRD2208 742370 892125 596 630.1 90 -60 561 572 11 7.7 2.9 RCD Sunbird incl 570 571 1 0.7 15.0 RCD Sunbird 583 591 8 5.6 9.3 RCD Sunbird incl 585 586 1 0.7 60.5 RCD Sunbird 595 598 3 2.1 7.5 RCD Sunbird incl 595 596 1 0.7 17.4 RCD Sunbird SGRD2209 742445 892335 567 500.2 90 -60 466 482 16 11.2 1.9 RCD Sunbird SGRD2211 742324 892026 603 708 90 -60 214 217 3 2.1 2.9 RCD Sunbird 648 682 34 23.8 3.9 RCD Sunbird incl 670 672 2 1.4 38.0 RCD Sunbird 688 690 2 1.4 3.9 RCD Sunbird SGRD2212 742540 892510 563 405 90 -60 339 371 32 22.4 6.3 RCD Sunbird incl 342 344 2 1.4 12.6 RCD Sunbird and 345 348 3 2.1 29.1 RCD Sunbird and 349 350 1 0.7 14.9 RCD Sunbird and 356 357 1 0.7 13.3 RCD Sunbird SGRD2213 742575 892610 568 400.1 90 -60 308 319 11 7.7 2.2 RCD Sunbird SGRD2214 742500 892360 564 420 90 -60 274 276 2 1.4 2.9 RCD Sunbird 320 328 8 5.6 1.4 RCD Sunbird 337 345 8 5.6 2.2 RCD Sunbird incl 337 338 1 0.7 13.8 RCD Sunbird 354 362 8 5.6 2.4 RCD Sunbird 370 380 10 7.0 4.6 RCD Sunbird incl 371 372 1 0.7 13.6 RCD Sunbird and 373 374 1 0.7 13.2 RCD Sunbird SGRD2215 742280 891928 600 780 90 -60 694 718 24 16.8 0.9 RCD Sunbird 723 728 5 3.5 1.0 RCD Sunbird 733 766 33 23.1 4.3 RCD Sunbird incl 735 736 1 0.7 45.8 RCD Sunbird and 741 742 1 0.7 10.4 RCD Sunbird and 745 746 1 0.7 14.9 RCD Sunbird Notes: 1. EOH: End of hole2. Depths and widths reported to nearest significant decimal place 3. NSI: No significant intercepts4. ETW: Estimated true width5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail Photos accompanying this announcement are available athttps:// A PDF accompanying this announcement is available at Sign in to access your portfolio
