Core Insights - Fortuna Mining Corp. has released a Preliminary Economic Assessment (PEA) for the Diamba Sud Gold Project in Senegal, indicating strong project economics with a gold price of $2,750 per ounce, resulting in an after-tax NPV5% of $563 million and an IRR of 72% [2][30][41]. Project Overview - The PEA supports the development of an open-pit mine and a conventional carbon-in-leach (CIL) processing plant, projecting an average annual production of 147,000 ounces of gold in the first three years at an All-In Sustaining Cost (AISC) of $904 per ounce [2][5][30]. - The total mineralized material mined is estimated at 17.75 million tonnes, containing 932,000 ounces of gold, with a life of mine (LOM) of 8.1 years [5][10]. Financial Metrics - The construction capital cost is estimated at approximately $283.2 million, with a payback period of ten months [3][30]. - Average operating cash costs over the LOM are projected at $1,081 per ounce, with AISC averaging $1,238 per ounce [6][30]. Exploration and Development - Ongoing exploration is expected to enhance the LOM production profile beyond a decade, with five drill rigs currently active [4][8]. - A supplementary budget of $17 million has been approved to advance early construction works and detailed engineering activities [4][40]. Environmental and Permitting - Fortuna has filed an Environmental and Social Impact Assessment (ESIA) as part of the permitting process, marking a significant milestone [38]. - The company anticipates applying for an exploitation permit before the expiration of its exploration permit in June 2026 [39]. Next Steps - The Definitive Feasibility Study (DFS) is expected to be completed by the end of the second quarter of 2026, with a construction decision anticipated shortly thereafter [41][42].

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VANCOUVER, British Columbia, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the third quarter of 2025 from its three operating mines located in West Africa and Latin America. Q3 2025 highlights Gold equivalent production of 72,462 ounces4 compared to 73,123 gold equivalent ounces (GEO) in Q3 20241,2 and 71,229 GEO in Q2 20251,3Consolidated GEO production for the first nine months of 2025, including the Yaramoko Mine, totaled 251,871 ounces Fortun ...

VANCOUVER, British Columbia, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the third quarter of 2025 from its three operating mines located in West Africa and Latin America. Q3 2025 highlights Gold equivalent production of 72,462 ounces4 compared to 73,123 gold equivalent ounces (GEO) in Q3 20241,2 and 71,229 GEO in Q2 20251,3Consolidated GEO production for the first nine months of 2025, including the Yaramoko Mine, totaled 251,871 ounces Fortun ...

VANCOUVER, British Columbia, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports that it has filed an Environmental and Social Impact Assessment (ESIA) for the Diamba Sud Gold Project with the Direction de la Réglementation Environnementale et du Contrôle (DiREC), which is part of the Ministry of the Environment and Sustainable Development of Senegal. The filing of the ESIA marks an important milestone in the permitting process and reinforces the Company´s commitment to adv ...

Core Insights - Fortuna Mining Corp. has filed an Environmental and Social Impact Assessment (ESIA) for the Diamba Sud Gold Project, marking a significant milestone in the permitting process and demonstrating the company's commitment to advancing the project towards a construction decision in the first half of 2026 [1][2] Environmental and Social Impact Assessment - The ESIA submission is essential for obtaining an environmental permit, which is part of the overall permitting process for project development [4] - The ESIA addresses key environmental and social considerations, including project description, benefits for Senegal, regulatory framework, baseline studies, public consultation, impact assessment, and proposed mitigation plans [6][7] Preliminary Economic Assessment (PEA) Status - Fortuna is progressing with the PEA for Diamba Sud, which will provide insights into the project's potential economics and development alternatives, with completion expected in early Q4 2025 [4][6] - A Definitive Feasibility Study (DFS) will follow the PEA in the first half of 2026, incorporating results from the ESIA and ongoing drilling activities [4][6] Drilling Program Update - The company has completed 52,110 meters of drilling in 2025, leading to a 53% increase in Measured and Indicated resources and a 93% increase in Inferred resources [6][8] - Drilling is set to resume in October after the rainy season, focusing on testing extensions of open mineralization and advancing project generation across Diamba Sud and the contiguous Bondala exploration property [6][9][10] Recent Highlights - A maiden Inferred Mineral Resource at Southern Arc has been delineated, totaling 3.85 million tons at an average gold grade of 1.57 g/t, containing 194,000 ounces of gold, with further drilling planned to test extensions [9]

Core Viewpoint - Fortuna Mining Corp. has entered into a binding Heads of Agreement with DeSoto Resources Limited to form an exploration alliance and joint venture in the Siguiri Basin of Guinea, which is known for its potential to host multi-million-ounce gold deposits [1][2]. Agreement Details - The agreement establishes a framework for applying for and acquiring new mining permits in targeted areas of interest [6]. - A new joint venture company (JVCo) will be created, with a board consisting of four directors, two from each party, and the majority partner holding a casting vote [6]. - The project will undergo a 36-month Project Generation Phase focused on identifying significant discoveries, termed "Go Projects," that warrant further development [6]. - Once a Go Project is identified, the joint venture will transition into a formal agreement where Fortuna will hold 70% and DeSoto will hold 30% [6]. Company Background - Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration projects in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal [4]. - The company emphasizes sustainability in its operations and stakeholder relationships, aiming to create long-term shared value through efficient production and environmental stewardship [4]. DeSoto Resources Limited - DeSoto Resources Limited is an Australian-listed gold exploration company focused on project generation in Guinea, with a management team recognized for their successful exploration efforts in West Africa, including the discovery of a 5.4-million-ounce gold project [3].

VANCOUVER, British Columbia, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce it has executed a binding Heads of Agreement (HOA) with DeSoto Resources Limited, an Australian-listed gold exploration company, to establish an exploration alliance and joint venture across the highly prospective Siguiri Basin in Guinea. New Exploration Front Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “Guinea’s Siguiri Basin has demonstrated potenti ...

Company Performance - Fortuna Mining's stock was down 1.29% at $8.42, underperforming the S&P 500's daily loss of 0.29% [1] - The stock has increased by 13.13% over the past month, outperforming the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 3.08% [1] Earnings Estimates - Zacks Consensus Estimates project Fortuna Mining to have earnings of $0.74 per share and revenue of $0 million, reflecting year-over-year changes of +60.87% and 0%, respectively [2] - Recent changes to analyst estimates indicate a favorable outlook on Fortuna Mining's business health and profitability [2] Stock Price Correlation - Empirical research shows that revisions in estimates correlate directly with stock price performance [3] - The Zacks Rank system, which considers estimated changes, provides an operational rating system for stocks [3] Zacks Rank and Valuation - Fortuna Mining currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having increased by 6.52% over the last 30 days [4] - The company is trading at a Forward P/E ratio of 11.6, compared to the industry average of 17.94, suggesting it is trading at a discount [5] Industry Context - Fortuna Mining is part of the Mining - Miscellaneous industry, which has a Zacks Industry Rank of 156, placing it in the bottom 37% of over 250 industries [5][6] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks [6]

Core Insights - Fortuna Mining Corp. is recognized as one of the best silver mining stocks to buy according to hedge funds [1][2] - Recent drilling results from the Séguéla Mine in Côte d'Ivoire indicate significant gold mineralization at both the Kingfisher and Sunbird deposits [1][2] Group 1: Drilling Results - At the Kingfisher deposit, drilling revealed 4.5 g/t Au over 37.4 meters from a depth of 79 meters in hole SGRD2363, with mineralization confirmed up to 250 meters along strike and 300 meters below the surface [1] - The Sunbird deposit showed multiple significant results, including 2.1 g/t Au over 8.4 meters, 5.6 g/t Au over 4.9 meters, 11.2 g/t Au over 5.6 meters, and 8.5 g/t Au over 7.0 meters from a depth of 566 meters in hole SGRD2431 [1] Group 2: Exploration Insights - Paul Weedon, SVP of Exploration, highlighted that the Kingfisher infill program has extended both depth and strike potential while confirming broad mineralization, supporting the mine's long-term expansion potential [2] - Ongoing drilling at Sunbird aims to further develop the mineralized envelope and enhance geological confidence [2]