Fortuna applies for exploitation permit at Diamba

Executive Summary

• Fortuna Mining Corp. submitted an application for an exploitation permit for the Diamba Sud gold project in Senegal to the Ministry of Energy, Petroleum, and Mines on February 4, 2026.
• The company is advancing early works and engineering at Diamba Sud, including site preparation and detailed engineering programs to derisk critical path activities and support the feasibility study.
• An updated mineral resource estimate for Diamba Sud is planned for publication by the end of the month, which will serve as the basis for estimating mineral reserves and evaluating a potential construction decision targeted for mid-2026.

Key Details

• Permit Application: Submitted exploitation permit application for the Diamba Sud gold project to the Ministry of Energy, Petroleum, and Mines on Feb. 4, 2026.
• Engineering & Site Works: Advancing early works and engineering, including site preparation activities and detailed engineering programs designed to derisk critical path activities.
• Feasibility Study Support: Engineering efforts are intended to support the feasibility study for the project.
• Resource Estimate Update: Plans to publish an updated mineral resource estimate for Diamba Sud by the end of the month (February 2026).
• Reserve Estimation: The updated resource estimate will form the basis for the estimation of mineral reserves to be used in the feasibility study.
• Construction Decision: The updated resources will support the evaluation of a potential construction decision targeted for mid-2026.
• Previous Economic Assessment: Robust project economics were demonstrated in the preliminary economic assessment (PEA) completed in October 2025 (refer to news release dated Oct. 15, 2025).