Fortuna intersects 7.2 g/t Au over 31.5 meters at Kingfisher , Séguéla Mine, Côte d’Ivoire
NEWS RELEASE
Fortuna intersects 7.2 g/t Au over 31.5 meters at Kingfisher ,
Séguéla Mine, Côte d’Ivoire
Vancouver, March 13, 2025: 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.
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “Exploration drilling at
Kingfisher has moved to infilling and improving the resource confidence along the 1- kilometer strike
length of the current resource pit, with several notable intersections including 7.2 g/t Au over an
estimated true width of 31.5 meters in drill hole SGRC2278.” Mr . Weedon continued, “At the Sunbird
deposit, deep exploration drilling testing the southern extent has continued to return excellent results,
including 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215,
representing the deepest intercept to date, with mineralization remaining open at depth and down
plunge.”
Kingfisher deposit
Once the infill program and near exploration are successfully completed, we expect to migrate the
Kingfisher resources into the Séguéla Mine Mineral Reserves in 2025.
Drilling highlights include:
SGRD2153: 10.6 g/t Au
65.9 g/t Au
44.8 g/t Au
over an estimated true width of 9.4 meters from 223 meters, including
over an estimated true width of 0.9 meters from 223 meters, and
over an estimated true width of 0.9 meters from 227 meters
SGRC2264: 8.4 g/t Au
62.6 g/t Au
6.9 g/t Au
43.2 g/t Au
over an estimated true width of 14.5 meters from 10 meters, including
over an estimated true width of 1.7 meters from 19 meters
over an estimated true width of 6.0 meters from 31 meters, including
over an estimated true width of 0.9 meters from 31 meters
SGRC2278: 7.2 g/t Au
28.9 g/t Au
128.9 g/t Au
over an estimated true width of 31.5 meters from 91 meters, including
over an estimated true width of 1.7 meters from 118 meters, and
over an estimated true width of 0.9 meters from 123 meters
SGRD2280: 8.1 g/t Au
18.7 g/t Au
24.6 g/t Au
over an estimated true width of 16.2 meters from 89 meters, including
over an estimated true width of 3.4 meters from 96 meters
over an estimated true width of 1.7 meters from 106 meters
SGRC2309: 3.3 g/t Au
26.2 g/t Au
over an estimated true width of 35.7 meters from 46 meters, including
over an estimated true width of 0.9 meters from 74 meters
SGRC2312: 3.8 g/t Au
44.2 g/t Au
over an estimated true width of 39.1 meters from 86 meters, including
over an estimated true width of 1.7 meters from 123 meters
SGRC2322: 7.9 g/t Au
68.5 g/t Au
over an estimated true width of 11.9 meters from 140 meters, including
over an estimated true width of 0.9 meters from 149 meters
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An additional 100 drill holes, totaling 10,978 meters of a planned 28,000-meter drilling program
have been completed at the Kingfisher deposit (see Figure 1) as part of the resource confidence infill
program (see Figure 2). Drilling remains ongoing across the current pit-constrained Inferred Resource
and will also extend to test the immediate margins, both at depth and along strike, where late 2024
drilling identified several promising intervals intersected after the initial resource estimate was
completed (refer to Fortuna’s news release dated December 16, 2024).
The recent drilling has continued to highlight the widths and grade tenor intersected in the first drilling
phase, supporting and refining the geological interpretation. Kingfisher remains open at depth for most
of the drilled 2-kilometer strike length, with the deepest drilling testing to only approximately 250 meters
below surface (refer to Figure 2).
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Figure 1: Séguéla Mine deposit locations
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Figure 2: Kingfisher deposit long-section - looking west
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Sunbird deposit
Drilling has now extended mineralization approximately 700 meters to the south beyond the limit of
the current underground Inferred Resource and some 600 meters below surface.
Drilling highlights include:
SGRD2207: 8.3 g/t Au
6.0 g/t Au
over an estimated true width of 3.5 meters from 250 meters
over an estimated true width of 4.2 meters from 301 meters
SGRD2208: 9.3 g/t Au
60.5 g/t Au
7.5 g/t Au
17.4 g/t Au
over an estimated true width of 5.6 meters from 583 meters, including
over an estimated true width of 0.7 meters from 585 meters
over an estimated true width of 2.1 meters from 595 meters, including
over an estimated true width of 0.7 meters from 595 meters
SGRD2211: 3.9 g/t Au
38.0 g/t Au
over an estimated true width of 23.8 meters from 648 meters, including
over an estimated true width of 1.4 meters from 670 meters
SGRD2212: 6.3 g/t Au
12.6 g/t Au
29.1 g/t Au
over an estimated true width of 22.4 meters from 339 meters, including
over an estimated true width of 1.4 meters from 342 meters and
over an estimated true width of 2.1 meters from 345 meters
SGRD2214: 4.6 g/t Au over an estimated true width of 7.0 meters from 370 meters
SGRD2215: 4.3 g/t Au
45.8 g/t Au
over an estimated true width of 23.1 meters from 733 meters, including
over an estimated true width of 0.7 meters from 735 meters
Results from a further 10 holes, totaling 5,120 meters of a planned 12,000-meter drilling program have
been received, including an interval of 4.3 g/t Au over a true width of 23.1 meters from 733 meters in
drill hole SGRD2215, which is the deepest intersection drilled at Séguéla (refer to Figure 3).
The last phase of the current program will step out above and below the current intersection to further
refine the geometry and controls on the interpreted mineralized shoot during the second quarter of
2025.
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Figure 3: 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 air 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 percent representative sample for submission to the analytical laboratory.
The residual 87.5 percent 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.
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
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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, Côte
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 included 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 , 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 four operating mines and
exploration activities in Argentina, Burkina Faso, Côte d’Ivoire, Mexico and Peru, as well as the
Diamba Sud Gold Project located in Senegal. Sustainability 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:
Carlos Baca | [email protected] | fortunamining.com | X | LinkedIn | YouTube
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Forward-looking Statements
This news release contains forward-looking statements which constitute “forward-looking information”
within the meaning of applicable Canadian securities legislation and “forward- looking statements”
within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of
1995 (collectively, “Forward- looking Statements”). All s tatements included herein, other than
statements of historical fact, are Forward- looking Statements and are subject to a variety of known
and unknown risks and uncertainties which could cause actual events or results to differ materially
from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news
release include, without limitation, statements about further extension potential at the Kingfisher and
Sunbird deposits; statements that the Sunbird deposit continues to support underground mining
potential; the Company’s expectations regarding drilling in the second quarter of 2025 to step out and
above of the current interception to refine the geology and controls on the intercepted mineralized
shoot at the Sunbird deposit; mineral reserve and mineral resource estimates; expectations regarding
additional drilling and exploration programs planned; the Company’s business strategy, plans and
outlook; the merit of the Company’s mines and mineral properties; mineral resource and reserve
estimates; timelines; the future financial or operating performance of the Company; expenditures;
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negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of the Company to be
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Forward-looking Statements. Such uncertainties and factors include, among others, changes in
general economic conditions and financial markets; changes in prices for gold, silver, and other metals;
the timing and success of the Company’s proposed exploration programs; technological and
operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral
exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in
currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal
recoveries; the Company’s abil ity to obtain all necessary permits, licenses and regulatory approvals
in a timely manner; governmental and other approvals; political unrest or instability in countries where
Fortuna is active; labor relations issues; as well as those factors discussed under “Risk Factors” in the
Company's Annual Information Form for the financial year ended December 31, 2023. Although the
Company has attempted to identify important factors that could cause actual actions, events or results
to differ materially from those described in Forward- looking Statements, there may be other factors
that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-
looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions
of management, including but not limited to expectations regarding the results from the exploration
programs conducted at the Company’s mineral properties including the Séguéla Mine; expected
trends in mineral prices and currency exchange rates; the accuracy of the Company’s information
derived from its exploration programs at the Company’s mineral properties; current mineral resource
and reserve estimates; the presence and continuity of mineralization at the Company’s properties; that
the Company’s activities will be in accordance with the Company’s public statements and stated goals;
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other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and
the Company disclaims any obligation to update any Forward-looking Statements, whether as a result
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assurance that Forward- looking Statements will prove to be accurate, as actual results and future