Fortuna advances $19 million generative exploration program across Côte d’Ivoire, Mexico, and Argentina
NEWS RELEASE
Fortuna advances $19 million generative exploration program
across Côte d’Ivoire, Mexico, and Argentina
Vancouver, September 10, 2025: Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is
pleased to provide an update on its $19 million generative exploration program across its
portfolio of projects in Côte d’Ivoire, Mexico, and Argentina.
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “This year,
Fortuna has stepped up generative exploration activities across its portfolio, with a strong
focus on identifying and advancing the next generation of projects.” Mr. Weedon concluded,
“By leveraging our in -country expertise and dedicated exploration teams, we are unlocking
new opportunities for future growth. With a 2025 Greenfields exploration budget of
$19 million, complimenting the $22 million Brownfields exploration budget, the generative
teams have been active in advancing several promising projects.”
Generative Exploration highlights
Guiglo Project, Côte d’Ivoire
The Guiglo Project consists of two permits granted in late 2024 and a third under application,
covering a total of 1,142 square kilometers in the southwest of C ôte d’Ivoire . Guiglo
encompasses an unexplored area of favorable Birimian stratigraphy , hosting several large-
scale geophysical structures.
Stream sediment sampling during the 2024 to 2025 field season identified four anomalous
catchments. Follow-up soil sampling on the highest priority catchment , conducted on a
250-meter by 50-meter grid, outlined a 5-kilometer by 2-kilometer anomaly exceeding
20 parts per billion gold, with coincident bismuth, tungsten, antimony , and molybdenum
anomalism (refer to Figure 1).
Field work is scheduled to resume after the rainy season in October 2025, with additional
sampling, auger drilling, and an induced polarization geophysical program planned.
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Figure 1. Guiglo Project exploration program, Côte d’Ivoire
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Tongon North, Côte d’Ivoire
The 2024 to 2025 field season saw an active exploration program across the core of the Tongon North
Project. Activities included first-pass scout reverse circulation drill testing of previously untested priority
coincident geochemical and geophysical targets, as well as mapping and grab sampling of numerous
newly identified artisanal zones.
Preliminary targets, including Poundi, Natogo, and Fargolo on the Pongala permit, and Zelenio and
Soundou on the contiguous Somavogo permit, are interpreted to be associated with key fertile
structures extending northeast along strike of Barrick’s Tongon Mine (refer to Figure 2).
Following the receipt of all remaining assays, a rate-and-rank exercise will be undertaken to prioritize
targets for follow-up exploration. Fieldwork is anticipated to recommence in November, weather and
access conditions permitting.
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Figure 2. Tongon North exploration program, Côte d’Ivoire
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Centauro Project, Mexico
The Centauro Project is a highly prospective gold and silver opportunity located in southeastern
Chihuahua, approximately 145 kilometers northwest of Torreón, Coahuila (refer to Figure 3) . In
February 2025, Fortuna obtained option rights on Centauro, allowing it the ability to earn 100 percent
interest in three claims totaling 600 hectares. Fieldwork on the Centauro project has commenced.
Historical exploration work conducted by previous companies includes 19 mostly shallow drill holes
completed during 2008 to 2009, which returned widespread anomalous gold and silver values with
associated pathfinder elements such as arsenic, antimony, mercury which are indicative of a fertile
epithermal system.
Recent mapping and geochemical sampling confirm the presence of a large 2-kilometer by 3-kilometer
silica-capped plateau displaying features consistent with a preserved hydrothermal paleosurface,
including sinter horizons, finely banded silica, mud cracks, and geyserite. Surface mapping has
outlined several north-west trending silicified structures (refer to Figure 4), while the presence of low-
temperature sulfides such as realgar, orpiment, cinnabar, and stibnite further supports the
interpretation of a high-level preserved precious metal system.
Fortuna will commence a first pass drill campaign next month to test the potential for a fully preserved
low to intermediate sulfidation gold and silver system at depth.
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Figure 3. Location of current exploration programs in Mexico
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Figure 4. Centauro Project, Mexico: Geological plan and interpretive cross section
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La Carmen Project, Mexico
Early-stage exploration is advancing at the La Carmen Project, located approximately 145 kilometers
northwest of Mexico City in the state of Querétaro. The project hosts a high -level epithermal system
expressed by widespread kaolinite alteration extending over an area of more than 5 kilometers by
5 kilometers, locally exposed beneath post -mineral basalt cover. The geologic setting is considered
analogous to the Naranjillo and Sinda deposits, owned by Fresnillo and Electrum, respectively.
Mapping has outlined three main zones across a 5 -kilometer by 6-kilometer area, characterized by
well-developed displacement faults, sub horizontal zones of silicification, and the presence of cinnabar,
all indicative of the potential for a fully preserved epithermal system at depth.
Surface access agreements over the principal target areas are underway. Once secured, the Company
will commence detailed geological mapping and systematic geochemical sampling, supported by
hyperspectral analysis, to refine alteration mineralogy and vectoring ahead of a maiden drill campaign.
Cerro Lindo Project, Argentina
Located approximately 70 kilometers west of Fortuna’s Lindero Mine (refer to Figure 5), Cerro Lindo
is characterized by an extensive 12-kilometer corridor of steam -heated alteration in Tertiary-aged
andesitic volcanics, partially overlain by younger unaltered Miocene aged andesitic and basaltic flows,
and includes a historic sulfur mine that was operational between 1940 and 1978. An option agreement
to explore the 95 square kilometers Cerro Lindo Project was entered into during the quarter.
The property is considered prospective for hosting a high-sulphidation epithermal gold and silver
system, analogous to Gold Field’s Salares Norte Project, located 125 kilometers to the south in
neighboring Chile. Previous geochemical sampling has identified extensive areas of broad gold and
silver anomalism with significant pathfinder elements including molybdenum, antimony, bismuth,
tellurium, tin, lead, barium, tungsten, and selenium , as well as extensive quartz-alunite alteration and
polymictic breccias.