Project Highlights - Three US-based organic growth projects are expected to add a cumulative Net Present Value (NPV) of $41 billion at a gold price of $4,300/oz[13] - The combined Internal Rate of Return (IRR) for these projects is projected to be 55% at a gold price of $4,300/oz[13] - The projects are expected to have a quick payback period[13] - The average incremental All-In Sustaining Cost (AISC) for these projects is estimated to be approximately $1,650/oz[13] - The projects are expected to contribute nearly 3 million ounces of gold equivalent production over their Life of Mine (LOM)[13] Round Mountain - Phase X - Phase X is projected to have an NPV of $1881 million and an IRR of 67% at a gold price of $4,300/oz[22] - The project is expected to produce 14 million ounces of gold equivalent over its LOM[22] - The average grade is expected to be 30 g/t[22] Curlew - Curlew is projected to have an NPV of $1171 million and an IRR of 44% at a gold price of $4,300/oz[61] - The project is expected to produce 09 million ounces of gold equivalent over its LOM[61] - The average grade is expected to be 58 g/t[61] Bald Mountain - Redbird 2 - Redbird 2 is projected to have an NPV of $969 million and an IRR of 58% at a gold price of $4,300/oz[99] - The project is expected to produce 064 million ounces of gold equivalent over its LOM[99] - The average grade is expected to be 05 g/t[99]

Updated PFS for the Johnny Lee Deposit and new Mineral Resource estimate for the nearby Lowry Deposit underline the high-grade underground copper potential, with a Probable Mineral Reserve for the Johnny Lee Deposit of 9.5Mt at 2.9% Cu for 270,000t of copper and an 8-year life at the Black Butte Copper Project in Montana, USA, that aligns with the stringent Mine Operating Permit conditions.  WHITE SULPHUR SPRINGS, Mont., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” o ...

Updated PFS for the Johnny Lee Deposit and new Mineral Resource estimate for the nearby Lowry Deposit underline the high-grade underground copper potential, with a Probable Mineral Reserve for the Johnny Lee Deposit of 9.5Mt at 2.9% Cu for 270,000t of copper and an 8-year life at the Black Butte Copper Project in Montana, USA, that aligns with the stringent Mine Operating Permit conditions. WHITE SULPHUR SPRINGS, Mont., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” o ...

Core Viewpoint - Fortuna Mining Corp. has initiated a Processing Plant Expansion Options Study for the Séguéla mine in Côte d'Ivoire, aiming to enhance production capacity and capitalize on exploration successes [1][3][4]. Group 1: Expansion Study Details - Lycopodium Minerals Canada Ltd. has been selected to conduct the expansion study, reflecting Fortuna's confidence in their expertise and understanding of the Séguéla project [1][3][5]. - The study will assess options to increase the processing plant's throughput from the current capacity of 1.75 million tonnes per annum (Mtpa) to between 2.0 and 2.5 Mtpa, targeting over 200,000 ounces of gold production annually [4][5]. - The study is set to commence immediately, with completion expected in the second quarter of 2026 [6]. Group 2: Strategic Objectives - The expansion initiative aligns with Fortuna's strategic goal to maximize value from the Séguéla Mine and accommodate resource growth, including potential underground mineralization from the Sunbird deposit [4][9]. - The company aims to achieve approximately 500,000 ounces of annual gold equivalent production within the next three years, supported by ongoing projects like the Diamba Sud Gold Project in Senegal [3][4]. Group 3: Company Background - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, focusing on sustainable practices and stakeholder relationships [8]. - The company recently reported an extension of the reserve life of the Séguéla mine to 7.5 years and is working on converting significant mineral resources into reserves [9].

Core Insights - Heliostar Metals Ltd. has released an updated technical report for the La Colorada Mine, indicating improved economic metrics and growth opportunities [1][2][3] Technical Report Highlights - The updated life of mine plan includes results from a 20,000-metre drilling campaign conducted from November 2024 to March 2025 [1] - The mine is projected to have a 6.1-year life with significant indicated gold resources increasing to 513k ounces, grading 0.79 grams per tonne [3][7] - The report shows a post-tax NPV5 of US$66.2 million and an IRR of 24.4% at a gold price of US$2,300/oz, with a payback period of 3.4 years [3][28] Economic Analysis - The base case scenario indicates a total cash flow of US$105.5 million and a payback multiple of 1.9 at a gold price of US$2,300/oz [29] - An upside case at US$3,500/oz gold price shows a post-tax NPV5 of US$243.3 million and an IRR of 168.4% [3][14] - The average AISC is estimated at US$1,626 per AuEq ounce, with initial capital expenditures of US$44.5 million [10][28] Growth Opportunities - Three growth opportunities identified include Veta Madre Plus, an expanded pit at El Crestón, and exploration potential across the larger land package [2][34] - Infill drilling at Veta Madre Plus could add an additional 28k ounces of reserves [2][39] - The company plans to explore untested areas of the La Colorada property in late 2025 and 2026 [2][38] Mineral Resource and Reserve Estimates - The updated report estimates a total probable mineral reserve of 376.2k ounces of gold, with a forecast mine life of 6.1 years [7][9] - The mineral resource estimates include 20,213 kt with an average gold grade of 0.79 g/t [42] - The report indicates that the Veta Madre pit has a forecast mine life of 1.3 years, while El Crestón has a forecast mine life of 4.6 years [7][9] Operational Insights - The La Colorada Mine will continue to exploit the Junkyard Stockpile through 2025, generating revenue based on current gold prices [31][34] - The company has received permits to expand the leach pad, allowing for increased processing capacity [36] - The mining method and process circuit remain unchanged, benefiting from existing infrastructure [21]