Fortuna Mining Reports Significant Gold Reserves at Séguéla Mine

Fortuna Mining has announced a substantial update regarding the mineral reserves and resources at its Séguéla Mine, located in Côte d’Ivoire. The company reported a total of 1.2 million ounces of gold in mineral reserves, alongside 794,000 ounces in indicated resources and 712,000 ounces in inferred resources. This update reflects the ongoing exploration success and positions Séguéla for potential further development and expansion.

Jorge A. Ganoza, president and CEO of Fortuna Mining, highlighted that the successful exploration efforts over the past two years have opened avenues not only to extend the mine’s lifespan but also to evaluate a potential increase in annual gold production. Ganoza noted, “Séguéla now boasts a 7.5-year life of mine and its largest mineral resource inventory on record.” To leverage these opportunities, the company has initiated extensive infill drilling programs and advanced underground mining studies.

As of October 31, 2025, the Séguéla Mine had proven and probable mineral reserves totaling 13.0 million tonnes, containing 1.2 million ounces of gold. This figure represents an 11% increase compared to the previous year. The company has reported a 33% increase in mineral reserve tonnes, though the gold grade has decreased by 17% to 2.81 g/t Au. This reduction in grade is partly due to the depletion of higher-grade materials from the Koula and Ancien deposits.

The Kingfisher deposit has been a focal point in this update, as it marks the first estimation of mineral reserves for this site, totaling 3.5 million tonnes at an average grade of 2.28 g/t, which contains 257,000 ounces of gold. The Sunbird underground project has also seen significant growth, with its mineral resource now at 3.6 million tonnes averaging 4.34 g/t, which equates to 502,000 ounces of gold.

Fortuna Mining is also actively pursuing technical studies to evaluate a potential plant expansion of approximately 25% capacity, with expected completion in the second quarter of 2026. The exploration initiatives, including extensive drilling across the Séguéla property, involve five active drill rigs focused on upgrading inferred to indicated resources at the Sunbird project.

The company’s processing plant, commissioned in mid-2023, was initially designed with a throughput capacity of 156 t/hr. Thanks to optimization efforts, Fortuna Mining anticipates an increase in capacity to treat 1.75 million tonnes annually starting in 2026. These improvements, combined with increased mineral resources and positive drilling outcomes, bolster the potential for extending the mine’s operational life.

Fortuna Mining has initiated engineering studies to explore options for further expanding the processing plant’s capacity. Concurrently, they are advancing engineering work on the Sunbird underground project, aiming to convert mineral resources into mineral reserves by December 2025. The project team has completed significant technical studies and is developing a pre-feasibility report to guide future activities.

Moving forward, Fortuna Mining plans to update the Sunbird project’s mineral resources by the end of the year, procure long-lead equipment for underground mining, and advance necessary government permitting processes. For more detailed information, visit www.FortunaMining.com.