Core Insights - Fortuna Mining Corp. reported its production results for Q3 2025, maintaining its annual production guidance of 309,000 to 339,000 gold equivalent ounces (GEO) for the year [2][3]. Production Results - Total GEO production for Q3 2025 was 72,462 ounces, slightly down from 73,123 ounces in Q3 2024 and up from 71,229 ounces in Q2 2025 [6]. - The total production for the first nine months of 2025 reached 251,871 ounces, including contributions from the divested Yaramoko Mine [3][6]. Mine Performance Séguéla Mine, Côte d'Ivoire - Produced 38,799 ounces of gold in Q3 2025, a 1% increase from Q2 2025 [4][8]. - The mine milled 435,770 tonnes of ore at an average grade of 3.01 g/t Au, with a gold recovery rate of 91.4% [4][8]. - Year-to-date production reached 115,484 ounces, on track to exceed the upper end of guidance [4][8]. Lindero Mine, Argentina - Achieved the highest quarterly production of the year with 24,417 ounces of gold in Q3 2025, a 4% increase from Q2 2025 [9][10]. - The mine placed 1.70 million tonnes of ore on the leach pad at an average grade of 0.60 g/t Au [9][10]. - Total production for the first nine months of 2025 was 68,288 ounces [12]. Caylloma Mine, Peru - Produced 9,246 GEO in Q3 2025, with silver production at 233,612 ounces and lead and zinc production at 8.5 million and 12.0 million pounds, respectively [13][16]. - The mine milled 140,523 tonnes of ore with a silver grade of 63 g/t and a lead grade of 3.01% [13][15]. - Year-to-date GEO production totaled 30,305 ounces [18]. Project Updates - The company received permit approvals for several satellite open pits, with mining preparation for the Sunbird open pit set to begin in Q4 2025 [5]. - Successful exploration at the Sunbird underground project and Kingfisher Deposit is expected to optimize the mine plan further [7]. Operational Efficiency - The Séguéla Mine's strip ratio was reported at 16.3:1, indicating a focus on reducing surface stockpiles [4]. - Lindero's optimization of the crushing circuit led to an average throughput of 1,061 tonnes per hour, 8% above the 2024 average [10][11]. Sustainability and Future Plans - The expansion of the tailings storage facility at Lindero is expected to provide capacity until August 2029 [11]. - The company is also progressing on the construction of a solar power plant to enhance sustainability [11].

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 related to the Diamba Sud project, including public consultation 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 a total of 52,110 meters of drilling in 2025, focusing on resource expansion, infill drilling, and testing new targets identified through recent surveys [5][6] - The drilling program has led to a mineral resource expansion of 53% in Measured and Indicated categories and 93% in Inferred categories [6] - Drilling is set to resume in October after the rainy season, with plans to continue until year-end [6][8] Community and Stakeholder Engagement - The company emphasizes regular engagement with local communities and stakeholders to integrate feedback into project design and planning [7] - Environmental and social management plans are in place to mitigate impacts and enhance local benefits, including various community programs [7]

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].

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]. Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company operating three mines and holding exploration projects in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal [4]. - The company emphasizes sustainability in its operations, focusing on efficient production, environmental stewardship, and social responsibility [4]. Joint Venture Details - The agreement establishes a new joint venture company (JVCo) to apply for and acquire new mining permits in targeted areas [6]. - The joint venture will have a board of up to four directors, with two from each party, and the majority partner will hold a casting vote [6]. - The project generation phase will last 36 months, focusing on identifying significant discoveries, termed "Go Projects" [6]. - Once a Go Project is identified, the joint venture will transition into a formal agreement where Fortuna will hold 70% and DeSoto 30%, with Fortuna funding exploration until either three years have passed or US$12.5 million has been spent [6]. DeSoto Resources Limited Overview - DeSoto Resources Limited is an Australian-listed gold exploration company with a focus on Guinea [3]. - The management team of DeSoto has a successful track record in West African exploration, including the discovery of a 5.4-million-ounce gold project [3]. Exploration Potential - The Siguiri Basin in Guinea is highlighted for its historical mining activity and potential for significant gold deposits, making it an attractive area for exploration [2].

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]

Core Viewpoint - Fortuna Mining Corp. is actively advancing its $19 million generative exploration program across its projects in Côte d'Ivoire, Mexico, and Argentina, focusing on identifying new growth opportunities [1][2]. Generative Exploration Highlights - The Guiglo Project in Côte d'Ivoire covers 1,142 square kilometers and includes unexplored areas with favorable geology [3]. - Stream sediment sampling has identified four anomalous catchments, with follow-up soil sampling revealing a significant gold anomaly exceeding 20 parts per billion [4]. - Fieldwork is set to resume in October 2025, including additional sampling and drilling [5]. Tongon North Project, Côte d'Ivoire - The exploration program includes scout drilling of previously untested targets and mapping of artisanal zones [7]. - Preliminary targets are associated with fertile structures extending northeast along Barrick's Tongon Mine [8]. - Fieldwork is expected to restart in November, pending weather conditions [10]. Centauro Project, Mexico - The Centauro Project is located in southeastern Chihuahua and covers 600 hectares, with fieldwork already commenced [11]. - Historical exploration has shown widespread anomalous gold and silver values, indicating a fertile epithermal system [12]. - Recent mapping has confirmed a large silica-capped plateau, suggesting a preserved hydrothermal paleosurface [13]. - A first-pass drill campaign is planned to test the potential of the system at depth [14]. La Carmen Project, Mexico - Early-stage exploration is ongoing at La Carmen, characterized by widespread kaolinite alteration over a 5-kilometer area [18]. - Mapping has identified three main zones indicative of a preserved epithermal system [19]. - Surface access agreements are being secured to commence detailed geological mapping and sampling [20]. Cerro Lindo Project, Argentina - The Cerro Lindo Project is located near Fortuna's Lindero Mine and covers 95 square kilometers, with potential for a high-sulphidation epithermal gold and silver system [21][22]. - Previous sampling has shown extensive gold and silver anomalism, along with significant pathfinder elements [22]. - The Arizaro deposit, part of the Lindero property, has an Inferred Mineral Resource of 32.4 million tons averaging 0.37 g/t Au [24]. Drilling Results - Recent drilling at the Arizaro deposit has yielded significant results, including: - ARD68: 0.69 g/t Au, 0.40% Cu over 22 meters [27] - ARD69: 0.39 g/t Au, 0.19% Cu over 27 meters [27] - ARD71: 0.52 g/t Au, 0.15% Cu over 57 meters [27] - A total of 14 diamond drill holes have been completed, with results received for 7 holes to date [25].

Core Insights - Fortuna Mining Corp. has initiated a $19 million generative exploration program across its projects in Côte d'Ivoire, Mexico, and Argentina, aiming to identify and advance new projects for future growth [1][2]. Côte d'Ivoire Projects - The Guiglo Project covers 1,142 square kilometers and includes two permits granted in late 2024, with a third under application, focusing on unexplored areas with favorable geology [3]. - Stream sediment sampling has identified four anomalous catchments, with follow-up soil sampling revealing a significant gold anomaly exceeding 20 parts per billion [4]. - The Tongon North Project has seen active exploration, including drill testing of geochemical and geophysical targets, with fieldwork expected to resume in November 2025 [7][9]. Mexico Projects - The Centauro Project, located in southeastern Chihuahua, has commenced fieldwork after Fortuna obtained option rights to earn a 100% interest in three claims totaling 600 hectares [10]. - Historical exploration has indicated widespread anomalous gold and silver values, suggesting a fertile epithermal system [11]. - Recent mapping has confirmed a large silica-capped plateau, with a first-pass drill campaign planned to test the potential for a preserved gold and silver system at depth [12][13]. Argentina Projects - The Cerro Lindo Project, located near Fortuna's Lindero Mine, is considered prospective for hosting a high-sulphidation epithermal gold and silver system, with previous sampling indicating significant gold and silver anomalism [19][20]. - The Arizaro Deposit, with an Inferred Mineral Resource of 32.4 million tonnes averaging 0.37 g/t Au, has seen extensive drilling, with results indicating promising mineralization [23][26]. - Recent drilling highlights include significant intercepts of gold and copper, with ongoing exploration aimed at understanding the extent of the mineralization [26][25].

Core Viewpoint - Fortuna Mining Corp. will participate in the Mining Forum Americas, a significant event for precious commodity equities and their investors, taking place from September 14 to 17, 2025 [1][2]. Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company operating three mines and holding exploration projects in Argentina, Côte d'Ivoire, Mexico, Peru, and the Diamba Sud Gold Project in Senegal [3]. - The company emphasizes sustainability in its operations, focusing on efficient production, environmental stewardship, and social responsibility while producing gold and silver [3]. Event Details - Jorge A. Ganoza, the President and CEO of Fortuna, will present at the Mining Forum Americas on September 15 at 11:00 a.m. Mountain Daylight Time [2]. - The Mining Forum Americas is recognized as the world's oldest and largest gathering of precious commodity equities, showcasing a significant portion of publicly traded gold and silver companies [2].