Fredonia Mining Appoints Global Mining Executive Gustavo Gomes as COO to Advance El Dorado-Monserrat Development

Fredonia Mining Inc. (FRED) has appointed Gustavo Gomes as its new Chief Operating Officer. Gomes brings more than 40 years of global mining experience to the role, including previous positions as Global COO at ArcelorMittal and CEO roles at Minera Las Bambas and Ambatovy.

The company has also initiated workstreams for the Pre-Feasibility Study (PFS) for its 100%-owned El Dorado-Monserrat (EDM) gold-silver project in Argentina. The PFS is targeted for completion in the second half of 2027. These actions follow the August 2026 Preliminary Economic Assessment (PEA) and the September 2026 $11.5 million bought deal financing, representing execution steps of the previously communicated development roadmap.

In corporate actions, Fredonia Mining issued a grant of 3.6 million stock options to directors, officers, and employees at an exercise price of $0.48 per share. The company also engaged SMG Capital Partners for investor relations services at a cost of US$2,750 per month.

Fredonia Mining Inc. (FRED) has appointed a seasoned chief operating officer and formally initiated a pre-feasibility study (PFS), marking key milestones following the completion of a preliminary economic assessment (PEA). Management has consistently communicated a strategic transition from exploration to development throughout 2026.

The company also disclosed a $0.48 option strike price, which aligns with the stock's recent trading range, indicating a fair-market valuation with no immediate dilutive surprise. The release confirms operational execution rather than introducing a new catalyst, as no new economic parameters, financing terms, or permitting breakthroughs were disclosed. This update reinforces management's capability to advance the project without altering the fundamental risk profile or valuation drivers.

Fredonia Mining Inc. (FRED) operates in the gold and silver exploration and development sector, with its flagship asset being the 100%-owned El Dorado-Monserrat (EDM) project. Located in the Deseado Massif of Santa Cruz Province, Argentina, the project is transitioning from exploration to development.

The company completed a Preliminary Economic Assessment (PEA) in August 2026, which outlined a mine life of more than 17 years with an average production of 146,000 ounces of gold equivalent per year. The PEA highlighted a post-tax net present value (NPV10) of US$1.5 billion and a 65% post-tax internal rate of return (IRR) at base-case metal prices, with initial capital expenditure estimated at US$346 million.

The project’s resource base includes 126.45 million tonnes of Measured and Indicated resources containing 2.76 million ounces of gold equivalent. Inferred resources add an additional 1.09 million ounces of gold equivalent. Fredonia Mining holds approximately 33,500 hectares of land, strategically located near AngloGold Ashanti’s Cerro Vanguardia mine.