FVI.TO · 2024-09-10 12:00:00

Fortuna intersects 14.2 g/t Au over 16.8 meters at the Kingfisher prospect, Séguéla Mine, Côte d’Ivoire

Drill Results

NEWS RELEASE

Fortuna intersects 14.2 g/t Au over 16.8 meters at the Kingfisher

prospect, Séguéla Mine, Côte d’Ivoire

Vancouver, September 10, 2024: Fortuna Mining Corp . (NYSE: FSM | TSX: FVI) is pleased to

provide an update on its exploration programs at the Séguéla Mine in Côte d’Ivoire.

Séguéla Mine exploration highlights

Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “Kingfisher is rapidly

shaping up as a substantial prospect for Séguéla, with a drill defined strike now over 2 kilometers in

length and it remains open at depth. Recent drilling highlights include 14.2 g/t Au over an estimated

true width of 16.8 meters from 100 meters from drill hole SGRC1865 with mineralization remaining

open at depth.” Mr. Weedon continued, “In addition to exploration succ ess at Kingfisher, infill and

depth extension drilling at the Sunbird deposit continues to support underground mining potential, with

results including 8.8 g/t Au over an estimated true width of 6.3 meters from 301 meters from drill hole

SGDD140.”

Kingfisher prospect drilling highlights include:

SGRC1865: 14.2 g/t Au

31.0 g/t Au

29.6 g/t Au

64.6 g/t Au

over an estimated true width of 16.8 meters from 100 meters, including

over an estimated true width of 1.4 meters from 105 meters, and

over an estimated true width of 1.4 meters from 115 meters, and

over an estimated true width of 1.4 meters from 120 meters

SGRC1866: 3.0 g/t Au over an estimated true width of 18.2 meters from 21 meters

SGRC1869: 2.7 g/t Au over an estimated true width of 30.1 meters from 68 meters

SGRD1874: 5.5 g/t Au over an estimated true width of 9.1 meters from 89 meters

SGRD1879: 3.7 g/t Au over an estimated true width of 15.4 meters from 129 meters

A further 58 holes for 6,966 meters was completed at the Kingfisher prospect (refer to Figure 1),

defining continuous mineralization over more than 2 kilometers of strike and merging the previous

three separate lodes into a single zone of continuous mineralization (refer to Figure 2). Drilling is

continuing, testing the depth potential along this zone with additional exploratory drilling planned to the

south where only minimal surface geochemistry is available. Kingfisher was a “blind” discovery with 1

to 2 meters of transported cover giving rise to very muted or no geochemical signature. Kingfisher

remains open at depth for most of the drilled 2-kilometer strike, with the deepest drilling only testing to

approximately 200 meters below surface (refer to Figure 3).

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Additional drilling at Kingfisher has further refined the understanding of the mineralization controls,

with a clear association identified along the strongly deformed contact zone between a series of felsic

intrusives, quartz veining, and host basaltic units. The change in strike orientation along the structure

from north -south to north -east coincides with the higher grade, broader mineralization interval s.

Mineralization is characterized by silica -biotite-sericite-carbonate alteration and pyrite development

within and adjacent to the quartz veining, similar to the Boulder and Agouti deposits, 1 to 3 kilometers

further north in the same sequence and in similar structural positions . This structure has been

identified from regional aeromagnetic surveys as extending the 32 -kilometer length of the Seguela

permit, highlighting the regional prospectivity of the project.

Drilling is scheduled with two drilling rigs to continue throughout the remainder of 2024 with the aim of

expanding the strike and depth potential of Kingfisher and supporting a maiden Inferred resource early

in 2025.

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Figure 1: Location of the Kingfisher prospect

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Figure 2: Kingfisher prospect long-section - looking west

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Figure 3: Kingfisher prospect cross section line 892550 - looking north

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Sunbird Deposit drilling highlights include:

SGDD139: 8.5 g/t Au over an estimated true width of 5.6 meters from 375 meters

SGDD140: 4.2 g/t Au

8.8 g/t Au

4.6 g/t Au

over an estimated true width of 7.7 meters from 268 meters, and

over an estimated true width of 6.3 meters from 301 meters, and

over an estimated true width of 8.4 meters from 324 meters

SGRD2082: 8.0 g/t Au over an estimated true width of 4.9 meters from 264 meters

SGRD2083: 6.6 g/t Au over an estimated true width of 6.3 meters from 359 meters

At Sunbird, results from the first 5 holes, totaling 2,010 meters of a planned 12,000 -meter drilling

program have been received, including 8.8 g/t Au over an estimated true width of 6.3 meters from 301

meters in drill hole SGDD140 (refer to Figure 4). The program is designed to infill and extend the

current mineralized footprint as part of a program to evaluate underground mining potential, with

mineralization remaining open 600 meters below surface, or more than 800 meters down plunge from

the margin of the planned open pit.

This work will continue for the remainder of 2024, supported by preliminary underground mining

studies.

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Figure 4: Sunbird long section - looking west

Refer to Appendix 1 for full details of the drill holes and assay results for this drill program at the

Séguéla Gold Mine.

Quality Assurance & Quality Control (QA - QC)

All drilling data completed by the Company utilized the following procedures and methodologies. All

drilling was carried out under the supervision of the Company’s personnel.

All reverse circulation (RC) drilling used a 5.25 -inch face sampling pneumatic hammer with samples

collected into 60 -liter plastic bags. Samples were kept dry by maintaining enough air pressure to

exclude groundwater inflow. If water ingress exceeded the a ir pressure, RC drilling was stopped, and

drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three -

tier splitter to yield a 12.5% representative sample for submission to the analytical laboratory. The

residual 87.5% samples were stored at the drill site until assay results were received and validated.

Coarse reject samples for all mineralized samples corresponding to significant intervals are retained

and stored on-site at the Company-controlled core yard.

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All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter

diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using

standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves

using a diamond saw. One half of the core was left in the original core box and stored in a secure

location at the Company core yard at the project site. The other half was sampled, catalogued, and

placed into sealed bags and securely stored at the site until shipment.

All RC and DD samples were transported to ALS’s preparation laboratory in Yamoussoukro, Cote

d’Ivoire before also being transported via commercial courier, to ALS’s facility in Ouagadougou,

Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption

finish was completed for all samples. Quality control procedures inc luded the systematic insertion of

blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory

inserted its own quality control samples.

Qualified Person

Paul Weedon, Senior Vice President of Exploration for Fortuna Mining Corp., is a Qualified Person as

defined by National Instrument 43 -101 being a member of the Australian Institute of Geoscientists

(Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information

contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling,

analytical and test data underlying the information or opinions contained herein by reviewing

geochemical and geological databases and reviewing diamond drill core. There were no limitations to

the verification process.

About Fortuna Mining Corp.

Fortuna Mining Corp. is a Canadian precious metals mining company with five operating mines in

Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru, as well as the preliminary economic

assessment stage Diamba Sud Gold Project located in Senegal. Sustai nability is integral to all our

operations and relationships. We produce gold and silver and generate shared value over the long -

term for our stakeholders through efficient production, environmental protection, and social

responsibility. For more information, please visit our website.

ON BEHALF OF THE BOARD

Jorge A. Ganoza

President, CEO, and Director

Fortuna Mining Corp.

Investor Relations:

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