FORTUNA MINING CORP.
For the period ended Dec 31, 2025. Filed Mar 26, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Mar 26, 2026
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Contents
EX-99.1 · 2026 Recent Developments
2026 Recent Developments
On January 20, 2026, the Company announced a further update of the Mineral Reserves and Mineral Resources, excluding Mineral Reserves, for the Séguéla Mine as of December 31, 2025, reflecting the first-time estimation of underground Mineral Reserves at the Sunbird deposit. Séguéla’s life of mine currently exceeds nine years at current production rates, with strong potential for further growth (refer to Fortuna’s news release dated January 20, 2026).
Highlights are:
| · | Total Mineral Reserves of 16.0 million tonnes averaging 3.01 g/t Au, supporting a mine life of over 9 years at the current mining rate of 1.75 million tonnes per annum. |
| · | Growth in Mineral Reserves more than offset production-related depletion, totaling approximately 1.54 million ounces of gold, representing a 31% increase compared to October 31, 2025. |
| · | First time estimation of underground Mineral Reserves at Sunbird, comprising 3.5 million tonnes averaging 3.60 g/t Au and containing 401,000 ounces of gold. |
| · | Exploration drilling completed in 2025 indicates that mineralization at the Sunbird deposit remains open down plunge and down dip, with an updated estimate planned for Q2 2026. |
| · | Drilling at Kingfisher, Koula, and Ancien deposits demonstrates that mineralization remains open at depth, providing additional potential for further underground mining expansion. |
| · | Technical studies are progressing to evaluate the optimal plant expansion, anticipated to increase capacity by approximately 25% to between 2.0 and 2.5 million tonnes per year, with studies on track for completion in Q2 2026. |
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