Fortuna Mining plans $19M exploration program

Executive Summary

• Fortuna Mining Corp. announced a $19 million generative exploration program for 2025 covering projects in Ivory Coast, Mexico and Argentina.
• Significant drill intercepts were reported from the Arizaro deposit on the Lindero property (e.g., 0.69 g/t Au & 0.40 % Cu over 22 m).
• New option rights secured on the Centauro project in Mexico and an option agreement entered for Cerro Lindo, Argentina, expanding the company’s exploration footprint.

Key Details

• Program Budget: $19 M allocated to greenfield exploration (complementing a $22 M brownfields budget).
• Guiglo (Ivory Coast): 1,142 km² permit area; sediment sampling identified a 5 km × 2 km anomaly >20 ppb Au with associated pathfinder elements. Fieldwork to resume Oct 2025 with auger drilling and IP geophysics.
• Tongon North (Ivory Coast): First‑pass RC drill testing of priority targets; rate‑and‑rank analysis pending after assay receipt; fieldwork planned for Nov 2025.
• Centauro (Mexico): Option secured Feb 2025 to earn 100 % interest in three claims (600 ha). Historical drilling (19 holes, 2008‑09) showed widespread Au/Ag anomalies. First‑pass drill campaign slated next month.
• La Carmen (Mexico): Early‑stage mapping of a 5 km × 6 km epithermal system; surface access agreements in progress; maiden drill program to follow detailed mapping and hyperspectral sampling.
• Cerro Lindo (Argentina): Option agreement signed Q2 2025 for 95 km² project; target is high‑sulphidation epithermal Au‑Ag system analogous to Gold Fields’ Salares Norte.
• Arizaro Deposit – Lindero Property (Argentina):
• Existing inferred resource: 32.4 Mt @ 0.37 g/t Au = 389,000 oz Au.
• Recent drilling: 14 RC holes, 3,674 m; results received for 7 holes. Highlights include:
  • ARD68: 0.69 g/t Au & 0.40 % Cu over 22 m (surface).
  • ARD69: 0.39 g/t Au & 0.19 % Cu over 27 m from 10 m depth.
  • ARD71: 0.52 g/t Au & 0.15 % Cu over 57 m (72 m depth) and 0.58 g/t Au & 0.12 % Cu over 27 m (210 m).
  • ARD72: 0.39 g/t Au & 0.18 % Cu over 21 m (surface) and 0.59 g/t Au & 0.29 % Cu over 46 m (100 m).
  • ARD74: 0.50 g/t Au & 0.19 % Cu over 10 m (174 m).
• Additional Work at Arizaro: Regional mapping identified a 2.5 km Au‑Cu anomaly; 10 holes (2,826 m) drilled for strike extension/infill, results pending for two holes.

Notable Quotes

“This year, Fortuna has stepped up generative exploration activities across its portfolio, with a strong focus on identifying and advancing the next generation of projects.” – Paul Weedon, Senior Vice‑President, Exploration

All technical information reviewed and approved by qualified person Paul Weedon (NI 43‑101).