Recent Updates — FSM

Fortuna Mining Corp. announced infill drilling results at its Lindero Mine in Argentina, confirming that gold mineralization extends significantly below the current life-of-mine pit design. The program returned multiple intersections with grades consistent with or higher than block model estimates, including a highlight of 0.96 g/t Au over 350 meters from surface. Management is incorporating these results into an updated block model and pit design targeted for completion by year-end to support a revised life-of-mine plan. An updated Mineral Resource and Reserve estimate is planned for release in the first quarter of 2027. Fortuna Mining Corp. operates precious metals mines in Argentina, Côte d’Ivoire, and Peru.

Fortuna Mining Corp. released updated exploration results from its Diamba Sud Gold Project in Senegal, highlighting significant gold intercepts including 7.8 g/t Au over 12.8 meters at Southern Arc and 3.9 g/t Au over 40.8 meters at Kassasoko. The company also announced the commencement of an $8 million drilling campaign at its newly acquired Bambadji properties, with six rigs operating at the Kabewest target. These activities aim to expand mineral reserves and define new resources ahead of a year-end update. Fortuna Mining Corp. is a Canadian precious metals mining company with operating mines in Argentina, Côte d’Ivoire, and Peru.

Fortuna Mining Corp. reported third-quarter 2026 consolidated production of 69,665 gold equivalent ounces (GEO), a decrease from 72,217 GEO in the second quarter and 72,462 GEO in the prior-year period. Year-to-date output reached 214,754 GEO, keeping the company on track for its annual guidance of 281,000 to 305,000 GEO. The Board approved a $109 million budget for a 30% expansion of the Séguéla processing plant in Côte d'Ivoire, targeting over 200,000 ounces annually from H2 2028. Additionally, Fortuna acquired the adjacent Bambadji Project in Senegal to consolidate exploration holdings along the Senegal-Mali Shear Zone. The company operates precious metals mines in West Africa and Latin America.

Fortuna Mining Corp. acquired the 190 km² Bambadji advanced gold exploration project in Senegal from Barrick Mining Corporation and IAMGOLD Corporation for US$200 million paid in cash from its treasury. The acquisition consolidates approximately 60 kilometers of prospective strike along the Senegal-Mali Shear Zone adjacent to Fortuna’s feasibility-stage Diamba Sud Gold Project, which hosts mineral reserves containing 1.15 million ounces of gold. Fortuna granted a 0.5 percent net smelter return royalty on the first 1.75 million ounces of gold produced from Bambadji Nord, split between Barrick and IAMGOLD. The company approved an initial US$8 million exploration budget for 2026 to drill 51,000 meters across eight priority targets starting in the third quarter. Fortuna Mining Corp. is a Canadian precious metals mining company operating mines and exploration projects in South America, Africa, and Guyana.

Fortuna Mining Corp. reported second quarter 2026 results with sales of $318.4 million and attributable net income from continuing operations of $75.5 million, or $0.25 per share. The company generated $85.7 million in free cash flow from ongoing operations and returned $82.1 million to shareholders via share buybacks. Management announced a final investment decision for the Séguéla Plant Expansion, an estimated $109 million project targeting over 200,000 ounces of annual gold production by H2 2028. Additionally, Fortuna acquired 5.7 million shares of Awalé Resources Limited for $3.4 million and delivered a feasibility study for the Diamba Sud gold project in Senegal. Executive promotions include Luis Dario Ganoza moving to President and Kevin O’Reilly becoming CFO effective September 1. The company operates precious metals mining assets in South America and West Africa.