Fortuna Mining plans $19M exploration program

Mr. Jorge Ganoza reports FORTUNA ADVANCES $19 MILLION GENERATIVE EXPLORATION PROGRAM ACROSS COTE D'IVOIRE, MEXICO, AND ARGENTINA Fortuna Mining Corp. has provided an update on its $19-million generative exploration program across its portfolio of projects in Ivory Coast, Mexico and Argentina. Paul Weedon, senior vice-president of exploration at Fortuna, commented, "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." Mr. Weedon concluded: "By leveraging our in-country expertise and dedicated exploration teams, we are unlocking new opportunities for future growth. With a 2025 greenfields exploration budget of $19-million, complementing the $22-million brownfields exploration budget, the generative teams have been active in advancing several promising projects." Generative exploration highlights Guiglo project, Ivory Coast The Guiglo project consists of two permits granted in late 2024 and a third under application, covering a total of 1,142 square kilometres in the southwest of Ivory Coast. Guiglo encompasses an unexplored area of favourable Birimian stratigraphy, hosting several large-scale geophysical structures. Stream sediment sampling during the 2024-to-2025 field season identified four anomalous catchments. Follow-up soil sampling on the highest-priority catchment, conducted on a 250-metre-by-50-metre grid, outlined a five-kilometre-by-two-kilometre anomaly exceeding 20 parts per billion gold, with coincident bismuth, tungsten, antimony and molybdenum anomalism. Fieldwork is scheduled to resume after the rainy season in October, 2025, with additional sampling, auger drilling and an induced polarization geophysical program planned. Tongon North, Ivory Coast The 2024-to-2025 field season saw an active exploration program across the core of the Tongon North project. Activities included first-pass scout reverse circulation drill testing of previously untested priority coincident geochemical and geophysical targets as well as mapping and grab sampling of numerous newly identified artisanal zones. Preliminary targets, including Poundi, Natogo and Fargolo on the Pongala permit and Zelenio and Soundou on the contiguous Somavogo permit, are interpreted to be associated with key fertile structures extending northeast along strike of Barrick's Tongon mine. Following the receipt of all remaining assays, a rate-and-rank exercise will be undertaken to prioritize targets for follow-up exploration. Fieldwork is anticipated to recommence in November, weather and access conditions permitting. Centauro project, Mexico The Centauro project is a highly prospective gold and silver opportunity located in southeastern Chihuahua, approximately 145 kilometres northwest of Torreon, Coahuila. In February, 2025, Fortuna obtained option rights on Centauro, allowing it the ability to earn 100-per-cent interest in three claims totalling 600 hectares. Fieldwork on the Centauro project has commenced. Historical exploration work conducted by previous companies includes 19 mostly shallow drill holes completed during 2008 to 2009, which returned widespread anomalous gold and silver values with associated pathfinder elements such as arsenic, antimony and mercury, which are indicative of a fertile epithermal system. Recent mapping and geochemical sampling confirm the presence of a large two-kilometre-by-three-kilometre silica-capped plateau displaying features consistent with a preserved hydrothermal paleosurface, including sinter horizons, finely banded silica, mud cracks and geyserite. Surface mapping has outlined several northwest-trending silicified structures, while the presence of low-temperature sulphides such as realgar, orpiment, cinnabar and stibnite further supports the interpretation of a high-level preserved precious metal system. Fortuna will commence a first-pass drill campaign next month to test the potential for a fully preserved low-to-intermediate-sulphidation gold and silver system at depth. La Carmen project, Mexico Early-stage exploration is advancing at the La Carmen project, located approximately 145 kilometres northwest of Mexico City in the state of Queretaro. The project hosts a high-level epithermal system expressed by widespread kaolinite alteration extending over an area of more than five kilometres by five kilometres, locally exposed beneath postmineral basalt cover. The geologic setting is considered analogous to the Naranjillo and Sinda deposits, owned by Fresnillo and Electrum, respectively. Mapping has outlined three main zones across a five-kilometre-by-six-kilometre area, characterized by well-developed displacement faults, subhorizontal zones of silicification and the presence of cinnabar, all indicative of the potential for a fully preserved epithermal system at depth. Surface access agreements over the principal target areas are under way. Once secured, the company will commence detailed geological mapping and systematic geochemical sampling, supported by hyperspectral analysis, to refine alteration mineralogy and vectoring ahead of a maiden drill campaign. Cerro Lindo project, Argentina Located approximately 70 kilometres west of Fortuna's Lindero mine, Cerro Lindo is characterized by an extensive 12-kilometre corridor of steam-heated alteration in Tertiary-aged andesitic volcanics, partially overlain by younger unaltered Miocene-aged andesitic and basaltic flows, and includes a historic sulphur mine that was operational between 1940 and 1978. An option agreement to explore the 95-square-kilometre Cerro Lindo project was entered into during the quarter. The property is considered prospective for hosting a high-sulphidation epithermal gold and silver system, analogous to Gold Field's Salares Norte project, located 125 kilometres to the south in neighbouring Chile. Previous geochemical sampling has identified extensive areas of broad gold and silver anomalism with significant pathfinder elements, including molybdenum, antimony, bismuth, tellurium, tin, lead, barium, tungsten and selenium, as well as extensive quartz-alunite alteration and polymictic breccias. Arizaro deposit, Lindero property, Argentina Located 3.5 kilometres southeast of the Lindero mine, the Arizaro deposit is dominated by moderately to strongly mineralized, southwest-trending, non-outcropping diorite intrusive, which hosts most of the existing inferred mineral resource of 32.4 million tonnes averaging 0.37 gram per tonne gold containing 389,000 ounces of gold (refer to Fortuna's news release dated March 12, 2025). A second style of mineralization has been identified at Arizaro, consisting of north-south-oriented, magnetite-rich and potassic altered igneous-cemented breccias. A total of 14 diamond drill holes were completed for 3,674 metres, with the program designed to investigate strike extensions and infill elements of the current resource. Drill results have been received for seven drill holes to date. Regional mapping and associated rock-chip sampling have also highlighted a 2.5-kilometre, southwest-trending anomalous gold and copper zone extending from the Arizaro gold-copper porphyry system. Multiple occurrences of fine quartz-magnetite veining hosted by a diorite intrusive similar to that intersected at Arizaro have been identified. This work has led to a re-evaluation of the potential extent of the host porphyry and emplacement history. Several targets were tested with 2,826 metres of diamond drilling in 10 holes, with results received for two to date. Arizaro deposit drilling highlights: ARD68: 0.69 g/t Au and 0.40 per cent Cu over an estimated true width of 22 metres from surface; ARD69: 0.39 g/t Au and 0.19 per cent Cu over an estimated true width of 27 metres from 10 metres; ARD71: 0.52 g/t Au and 0.15 per cent Cu over an estimated true width of 57 metres from 72 metres and 0.58 g/t Au and 0.12 per cent Cu over an estimated true width of 27 metres from 210 metres; ARD72: 0.39 g/t Au and 0.18 per cent Cu over an estimated true width of 21 metres from surface and 0.59 g/t Au and 0.29 per cent Cu over an estimated true width of 46 metres from 100 metres; ARD74: 0.50 g/t Au and 0.19 per cent Cu over an estimated true width of 10 metres from 174 metres. Refer to Appendix 1 for full details of the drill holes and assay results for this drill program. Quality assurance and quality control 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-litre 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 was converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5-per-cent representative sample for submission to the analytical laboratory. The residual 87.5-per-cent 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 metre 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 DD samples were transported by commercial transport to ALS Patagonia SA's preparation laboratory in Mendoza, Argentina. Sample pulps prepared by ALS Patagonia were then transported by commercial courier to ALS's facility in Lima, Peru. Routine gold analysis using a 30-gram charge and fire assay with an atomic absorption finish was completed for all samples at ALS's Lima laboratory plus ME-ICP61, analysis of 34 elements with four-acid ICP-AES. Samples returning assays greater than 10 parts per million gold were reanalyzed using a 30-gram charge and fire assay with a gravimetric finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, ALS and its laboratory inserted their own quality control samples. Qualified person Paul Weedon, senior vice-president, exploration, for Fortuna Mining, is a qualified person as defined by National Instrument 43-101, being a member of the Australian Institute of Geoscientists (membership No. 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 is a Canadian precious metals mining company with three operating mines and a portfolio of exploration projects in Argentina, Ivory Coast, Mexico and Peru as well as the Diamba Sud gold project in Senegal. Sustainability is at the core of the company's operations and stakeholder relationships. Fortuna Mining produces gold and silver while creating long-term shared value through efficient production, environmental stewardship and social responsibility. We seek Safe Harbor.