Fortuna Mining Reveals Major Resource Update for Séguéla Mine

Fortuna Mining has announced a significant update regarding the mineral reserves and resources at the Séguéla Mine located in Côte d’Ivoire. The company reported a total of 1.2 million ounces of gold in mineral reserves, along with 794,000 ounces of gold in indicated resources and 712,000 ounces in inferred resources. This update reflects the company’s ongoing exploration efforts and suggests a promising future for the mine.

In a statement, Jorge A. Ganoza, president and CEO of Fortuna Mining, highlighted that the achievements over the past two years have paved the way to extend the life of the Séguéla Mine. Ganoza noted, “Séguéla now boasts a 7.5-year life of mine and its largest mineral resource inventory on record.” He indicated that the company has initiated aggressive infill drilling programs and advanced studies on potential plant expansions in response to the exploration success.

The recent updates show that Fortuna Mining’s mineral reserves have increased by 11% compared to the previous year, offsetting production-related depletion. The company reported that proven and probable mineral reserves now consist of 13.0 million tonnes containing 1.2 million ounces of gold. While mineral reserve tonnes increased by 33%, the gold grade dipped by 17% to 2.81 g/t Au, culminating in an overall 11% net increase in contained gold ounces.

Ganoza also mentioned that the Kingfisher and Sunbird deposits hosted the largest mineral reserves and resources. The Kingfisher deposit was estimated for the first time, totaling 3.5 million tonnes at an average grade of 2.28 g/t gold, containing 257,000 ounces of gold. The company plans to complete an underground mining study by December 2025, which may convert up to 502,000 gold ounces from Sunbird indicated resources into mineral reserves.

The exploration results have led to a doubling of measured and indicated mineral resources, which now contain 794,000 ounces of gold, excluding mineral reserves. The inferred mineral resources also saw an increase of 15%, with 712,000 ounces of gold reported.

As part of its growth strategy, Fortuna Mining is advancing technical studies aimed at evaluating a plant expansion of approximately 25% capacity. Completion of these studies is expected in the second quarter of 2026. The processing plant at Séguéla, commissioned in mid-2023, initially had a design throughput capacity of 156 t/hr. Following optimization initiatives, the company anticipates treating 1.75 million tonnes per year beginning in 2026.

Currently, Fortuna Mining is actively engaged in exploration and infill drilling across the Séguéla property, employing five active drill rigs. These efforts are concentrated on upgrading inferred resources to indicated resources at the Sunbird underground project, as well as evaluating mineralization potential across existing deposits.

The company is making strides in engineering studies to further explore expansion options for the processing plant. Ganoza emphasized that the combination of expanded mineral resources, successful conversion of inferred to indicated resources, and recent positive drilling results support the potential for extending the mine’s life.

For more details about Fortuna Mining and its operations, visit the official website at www.FortunaMining.com.