Fortuna Intersects 6.0 g/t Gold Over 24.1 Meters At Diamba Sud Gold Project

Key Concepts

• Diamasude Gold Project: Fortuna Mining’s gold project in Sagal, currently undergoing resource expansion and approaching a construction decision.
• Southern Ark: The primary prospect within the Diamasude project, showing significant drill results and resource growth.
• Mineral Resource Estimate: The estimated quantity of gold present in a deposit, expressed in ounces and grade (g/t).
• Reverse Circulation (RC) & Diamond Drilling: Two common drilling techniques used to obtain samples for analysis.
• True Width: The actual thickness of a mineralized zone, accounting for the angle of the drill hole.
• Step-out Drilling: Drilling conducted to extend the known limits of a mineralized zone.
• Infill Drilling: Drilling conducted to increase the confidence in a mineral resource estimate.

Fortuna Mining – Diamasude Project: Recent Drill Results & Progress

Fortuna Mining has released new drill results from its Diamasude gold project located in Sagal, indicating continued positive developments as the project moves closer to a construction decision anticipated in the second quarter of the year. These results incorporate data from 44 reverse circulation (RC) and diamond drill holes, totaling 7,518 meters, completed at the Southern Ark prospect.

Southern Ark Resource Expansion & Drilling Highlights

The Southern Ark has emerged as the primary prospect within the Diamasude project. Recent drilling has contributed to a 73% expansion of the mineral resource estimate, now totaling 1.25 million gold ounces. Paul Weeden, Fortuna’s Senior VP of Exploration, stated that the infill and extension drilling at Southern Ark is “strengthening the scaled confidence of the deposit.” The updated mineral resource for Southern Ark is estimated at 6 million tons, averaging 1.9 grams per ton (g/t) gold, containing 367,000 ounces of gold, making it the largest single mineral deposit within the broader Diamasude project.

Notably, the Southern Ark deposit remains open at depth and along strike, both to the southwest and northeast, with ongoing drilling programs continuing to explore these extensions. Specific drill highlights include:

• 8.4 g/t gold over 10.4 meters (estimated true width) from drill hole DSDD 606, starting at 136 meters downhole.
• 2.6 g/t gold over 10.6 meters (estimated true width) from the same drill hole (DSDD 606), starting at 181 meters downhole. This demonstrates the continued mineralization at depth.
• 6 g/t gold over 24 meters – a headline intersect.
• 3 g/t gold over 13.6 meters.
• 10.3 g/t gold over 7.2 meters.
• 10.1 g/t gold over 12.1 meters.

The step-out drilling at Southern Ark, exemplified by the results from DSDD 606, is specifically designed to test the limits of the deposit and confirm its potential for further expansion.

Mongundi & Area D (Carakara & Kasoko) Drilling

In addition to the Southern Ark, Fortuna also completed 46 RC and diamond core drill holes at the Mongundi deposit. Key results from Mongundi include:

• 15.8 g/t gold over 4.8 meters.
• 7.2 g/t gold over a true width of 9.6 meters.

Further, 17 infill drill holes were completed at Area D, encompassing the Carakara and Kasoko zones. Significant intercepts from this area are:

• 2.7 g/t gold over a true width of 28 meters.
• 2.8 g/t gold over 37 meters.
• 13.8 g/t gold over 2.4 meters.
• 46.3 g/t gold over 13.6 meters – the highest grade intercept reported.

Project Context & Future Outlook

These drill results are being integrated into an updated and expanded mineral resource estimate for the entire Diamasude project. The project is rapidly approaching a construction decision, with CEO Jorge Genoza having recently discussed the project’s progress and outlook in a prior interview with Arcadia Economics (link provided).

As Chris Marcus notes, “even better than that, especially if you're Fortuna shareholder or looking for exposure to the gold rally via the mining stocks, then I think you'd really enjoy hearing what Jorge had to say, really explaining what they've done, where they're going, how these drill results fit in.”

Technical Definitions:

• Grams per ton (g/t): A unit of concentration used to express the amount of gold in a ton of ore.
• True Width: The actual thickness of a mineralized zone, corrected for the angle of the drill hole. This provides a more accurate representation of the deposit’s size and grade.

Conclusion

The recent drill results from Fortuna Mining’s Diamasude project demonstrate continued positive progress, particularly at the Southern Ark prospect. The expanded mineral resource estimate, coupled with ongoing exploration success, strengthens the project’s potential and supports the anticipated construction decision in the second quarter. The open nature of the deposit at depth and along strike suggests further upside potential for resource growth.