Fortuna intersects 7.3 g/t Au over 16.1 meters and defines second underground shoot at Sunbird, Séguéla Mine, Côte d’Ivoire
NEWS RELEASE
Fortuna intersects 7.3 g/t Au over 16.1 meters and defines second
underground shoot at Sunbird, Séguéla Mine, Côte d’Ivoire
Vancouver, October 30, 2025: Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased
to report results from ongoing exploration drilling at the Sunbird Deposit, located at the
Séguéla Mine in Côte d’Ivoire. Recent drilling has successfully extended high grade
mineralization at depth and confirmed the development of a second underground shoot ,
further supporting the potential for resource growth and mine life extension.
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, “Drilling at
Sunbird has been very successful in expanding the underground potential, with the deepest
holes to date intersecting multiple high grade intervals, including 5.2 g/t Au over an estimated
true width of 6.3 meters from 787 meters in drill hole SG RD2460. This result extends the
central mineralized zone a further 150 meters down plunge , where it remain s open.”
Mr. Weedon continued, “Drilling has also been very successful in extending the lower shoot
a further 200 meters down plunge, with highlights including 6.0 g/t over an estimated true
width of 11.9 meters in drill hole SGRD2461 from 669 meters, the deepest hole completed
on this shoot to date, where it also remains open .” Mr. Weedon concluded, “ With over
1.5 kilometers of high grade strike now defined below Sunbird , we have initiated an
underground study while five drill r igs continue to advance drilling aimed at expanding the
mineralized envelope and testing its full extent.”
Sunbird Deposit Drilling Highlights
SGRD2434: 7.3 g/t Au
19.2 g/t Au
57.9 g/t Au
17.5 g/t Au
over an estimated true width of 16.1 meters from 688 meters, including
over an estimated true width of 1.4 meters from 688 meters, and
over an estimated true width of 0.7 meters from 702 meters, and
over an estimated true width of 0.7 meters from 706 meters
SGRD2444: 8.3 g/t Au over an estimated true width of 11.9 meters from 448 meters
SGRD2452: 9.0 g/t Au
14.7 g/t Au
25.0 g/t Au
over an estimated true width of 5.6 meters from 658 meters, including
over an estimated true width of 0.7 meters from 660 meters, and
over an estimated true width of 1.4 meters from 664 meters
SGRD2455: 9.5 g/t Au
28.5 g/t Au
over an estimated true width of 5.6 meters from 719 meters, including
over an estimated true width of 1.4 meters from 720 meters
SGRD2461: 6.0 g/t Au
14.5 g/t Au
22.3 g/t Au
20.1 g/t Au
over an estimated true width of 11.9 meters from 669 meters, including
over an estimated true width of 0.7 meters from 669 meters, and
over an estimated true width of 0.7 meters from 678 meters, and
over an estimated true width of 0.7 meters from 681 meters
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SGRD2470: 15.6 g/t Au
28.8 g/t Au
29.6 g/t Au
over an estimated true width of 5.6 meters from 483 meters, including
over an estimated true width of 0.7 meters from 484 meters, and
over an estimated true width of 1.4 meters from 487 meters
SGRD2471: 6.0 g/t Au
21.6 g/t Au
over an estimated true width of 9.8 meters from 378 meters, including
over an estimated true width of 1.4 meters from 382 meters
A further 40 drill holes, totaling 15,088 meters, have been completed at Sunbird (see Figure 1) as part
of the underground resource confidence infill and extension program (see Figure 2). The objectives of
the program are twofold: first, to infill and upgrade resource confidence to support the ongoing
underground mining study ; and second, to extend and expand mineralization a further 400 meters
down plunge to the south.
Drilling on the main shoot continues to intersect high grades along the projected plunge, with drill -
defined mineralization now extending more than 1.3 kilometers down plunge , approximately
700 meters below surface. Results include 5.2 g/t Au over an estimated true width of 6.3 meters from
787 meters and 5.4 g/t Au over an estimated true width of 4.9 meters from 802 meters in drill hole
SGRD2460.
Recent intersections such as 6.0 g/t Au over an estimated true width of 11.9 meters from 669 meters
in drill hole SGRD2461 and 13.3 g/t Au over an estimate true width of 3.5 meters from 786 meters in
drill hole SGRD2467 , highlight the strengthening of a second high grade shoot extending at least
900 meters down plunge from the pit base.
Mineralization remains open at depth and along strike, with drilling to continue through the end of 2025.
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Figure 1: Location of the Sunbird Deposit, Séguéla Mine, Côte d’Ivoire
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Figure 2: Sunbird Deposit long-section - looking west, Séguéla Mine, Côte d’Ivoire
Refer to Appendix 1 for full details of the drill holes and assay results for this drill program.
Quality Assurance & Quality Control (QA - QC)
All drilling data completed by the Company utilized the following procedures and methodologies , and
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 sufficient air pressure to
prevent groundwater inflow. Where water ingress exceeded 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 analy tical laboratory.
The remaining 87.5% portion was stored at the drill site until assay results were received and validated.
Coarse reject samples corresponding to all significant mineralized samples intervals are retained and
stored on-site at the Company-controlled core yard.
All diamond drilling (DD) drill holes started with HQ -sized diameter core before reducing to NQ
diameter upon intersecting fresh rock. Core was logged and marked for sampling in standard one-
meter intervals or to geological boundaries. Samples were then cut into equal halves using a diamond
saw. One half of the core was retained in the original core box and stored in a secure location at the
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Company’s core yard, while the other half was sampled, placed in sealed bags , and securely stored
at site until shipment.
All RC and DD samples were transported by Company vehicle or commercial courier to either the ALS
Global preparation laboratory in Yamoussoukro, Cote d’Ivoire , or the Bureau Veritas preparation and
analytical laboratory in Abidjan, Cote d’Ivoire. Sample pulps prepared by ALS Global were
subsequently shipped 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 at either ALS’s Ouagadougou laboratory or Bureau Veritas’ laboratory in Abidjan.
Samples returning assays greater than 10 parts per million of gold were reanalyzed using a 50 -gram
charge and fire assay with a gravimetric finish.
Quality control procedures included the systematic insertion of blanks, duplicates , and certified
reference standards into the sample stream. In addition, both ALS and Bureau Veritas laboratories
inserted their own quality control samples to ensure analytical accuracy and precision.
Qualified Person
Paul Weedon, Senior Vice President , Exploration for Fortuna Mining Corp., is a Qualified Person as
defined by National Instrument 43 -101 and is a member of the Australian Institute of Geoscientists
(Membership No. 6001). Mr. Weedon has reviewed and approved the scientific and technical
information contained in this news release. He 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 inspecting 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 three operating mines and
a portfolio of exploration projects in Argentina, Côte d’Ivoire, Mexico, and Peru, as well as the Diamba
Sud Gold Project in Senegal. Sustainability is at the core of our operations and stakeholder
relationships. We produce gold and silver while creating long -term shared value through efficient
production, environmental stewardship, and social responsibility. For more information, please visit
our website at www.fortunamining.com
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 statements 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 may include, without limitation, the Company’s proposed exploration plans and
objectives at the Sunbird Deposit; statements regarding the potential for resource growth and mine life extension
as well as expanding the underground potential; statements about the Company’s business strategies, plans and
outlook; the Company’s plans for its mines and mineral properties; changes in general economic conditions and
financial markets; the impact of inflationary pressures on the Company’s business and operations; the future
results of exploration activities; expectations with respect to metal grade estimates and the impact of any
variations relative to metals grades experienced; assumed and future metal prices ; the merit of the Company’s
mines and mineral properties; and the future financial or operating performance of the Company. Often, but not
always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”,
“open”, “future”, “assumed”, “projected”, “proposed”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”,
“will”, “anticipated”, “estimated” “containing”, “remaining”, “to be”, or statements that events, “could” or “should”
occur or be achieved and similar expressions, including 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 materially different from any results,
performance or achievements expressed o r implied by the Forward-looking Statements. Such uncertainties and
factors include, among others, operational risks associated with mining and mineral processing; uncertainty
relating to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs,
production schedules and economic returns; risks relating to the Company’s ability to replace its Mineral
Reserves; risks related to the conversion of Mineral Resources to Mineral Reserves; risks associated with mineral
exploration and project development; uncertainty relating to the repatriation of funds as a result of currency
controls; environmental matters including obtaining or renewing environmental permits and potential liability
claims; uncertainty relating to nature and climate conditions; laws and regulations regarding the protection of the
environment (including greenhouse gas emission reduction and other decarbonization requirements and the
uncertainty surrounding the interpretation of omnibus Bill C -59 and the related amendments to the C ompetition
Act (Canada); risks associated with political instability and changes to the regulations governing the Company’s
business operations; changes in national and local government legislation, taxation, controls, regulations and
political or economic developments in countries in which the Company does or may carry on business; risks
associated with war, hostilities or other conflicts, such as the Ukrainian – Russian, and Israeli – Hamas conflicts,
and the impacts they may have on global economic activity; risks relating to the termination of the Company’s
mining concessions in certain circumstances; developing and maintaining relationships with local communities
and stakeholders; risks associated with losing control of public perception as a result of social media and other
web-based applications; potential opposition to the Company’s exploration, development and operational
activities; risks related to the Company’s ability to obtain adequate financing for planned exploration and
development activities; property title matters; risks related to the ability to retain or extend title to the Company’s
mineral properties; risks relating to the integration of businesses and assets acquired by the Company;
impairments; risks associated with climate change legislation; reliance on key personnel; adequacy of insurance
coverage; operational safety and security risks; legal proceedings and potential legal proceedings; uncertainties
relating to general economic conditions; risks relating to a global pandemic, which could impact the Company’s
business, operations, financial condition and share price; competition; fluctuations in metal prices; risks
associated with entering into commodity forward and option contracts for base metals production ; fluctuations in
currency exchange rates and interest rates; tax audits and reassessments; risks related to hedging; uncertainty
relating to concentrate treatment charges and transportation costs; sufficiency of monies allotted by the Company
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for land reclamation; risks associated with dependence upon information technology systems, which are subject
to disruption, damage, failure and risks with implementation and integration; labor relations issues; as well as
those factors discussed under “Risk Factors” in the Company's Annual Information Form for the fiscal year ended
December 31, 2024. 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, the accuracy of the Company’s current Mineral Resource and Mineral
Reserve estimates; that the Company’s activities will be conducted in accordance with the Company’s public
statements and stated goals; that there will be no material adverse change affecting the Company, its properties
or its production estimates (which as sume accuracy of projected ore gr ade, mining rates, recovery timing, and
recovery rate estimates and may be impacted by unscheduled maintenance, labor and contractor availability and
other operating or technical difficulties); the duration and effect of global and local inflation; the dur ation and
impacts of geo-political uncertainties on the Company’s production, workforce, business, operations and financial
condition; the expected trends in mineral prices, inflation and currency exchange rates; that all required approvals
and permits will be obtained for the Company’s business and operations on acceptable terms; that there will be
no significant disruptions affecting the Company's operations and such 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 of new information, future events, or results or otherwise,
except as required by law. There can be no assurance that these Forward -looking Statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, investors should not place undue reliance on Forward-looking Statements.
Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources
All reserve and resource estimates included in this news release have been prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining,
Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule
developed by the Canadian Securities Administrators that establishes standards for public disclosure by a
Canadian company of scientific and technical information concerning m ineral projects. All Mineral Reserve and
Mineral Resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-
101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources
and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities
and Exchange Commission, and mineral reserve and resource information included in this news release may not
be comparable to similar information disclosed by U.S. companies.
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Appendix 1: Séguéla Mine drill program details of the drill holes and assay results for Sunbird Deposit
HoleID Easting
(WGS84_29N)
Northing
(WGS84_29N)
Elev.
(m)
EOH1,2
Depth
(m)
UTM
Azimuth Dip
Depth2
From
(m)
Depth2
To
(m)
Drilled2
Width
(m)
ETW3
(m)
Au
(ppm)
Hole
Type4 Area
SGRD2434 742305 891925 603 740 90 -60 229 233 4 2.8 10.3 RCD Sunbird
including 232 233 1 0.7 28.6 RCD Sunbird
660 661 1 0.7 41.6 RCD Sunbird
664 665 1 0.7 5.2 RCD Sunbird
668 671 3 2.1 2.6 RCD Sunbird
688 711 23 16.1 7.3 RCD Sunbird
including 688 690 2 1.4 19.2 RCD Sunbird
and 702 703 1 0.7 57.9 RCD Sunbird
and 706 707 1 0.7 17.5 RCD Sunbird
SGRC2435 742425 892410 563 30 90 -60 Not
sampled
RC Sunbird
SGRD2437 742500 892685 536 37 90 -60 Not
sampled
RCD Sunbird
SGRD2438 742250 891925 589 839.1 90 -60 785 792 7 4.9 6.8 RCD Sunbird
including 786 788 2 1.4 15.7 RCD Sunbird
817 819 2 1.4 3.3 RCD Sunbird
SGRD2439 742500 892685 536 540.3 90 -60 445 446 1 0.7 11.3 RCD Sunbird
472 477 5 3.5 3.7 RCD Sunbird
including 472 473 1 0.7 11.0 RCD Sunbird
481 490 9 6.3 7.1 RCD Sunbird
including 485 488 3 2.1 10.6 RCD Sunbird
and 489 490 1 0.7 12.0 RCD Sunbird
SGRD2440 742485 892535 546 528.3 90 -60 413 414 1 0.7 7.2 RCD Sunbird
493 510 17 11.9 4.0 RCD Sunbird
SGRC2441 742390 892420 565 95 90 -60 NSI RC Sunbird
SGRC2442 742360 892420 565 54 90 -60 Not
sampled
RC Sunbird
SGRC2443 742360 892420 565 140 90 -60 NSI RC Sunbird
SGRD2444 742515 892715 541 500 90 -60 121 122 1 0.7 78.9 RCD Sunbird
448 465 17 11.9 8.3 RCD Sunbird
including 458 462 4 2.8 25.0 RCD Sunbird
SGRC2445 742400 892268 569 130 90 -60 NSI RC Sunbird
SGRC2446 742340 892250 565 180 90 -60 NSI RC Sunbird
SGRC2447 742400 892293 567 100 90 -60 NSI RC Sunbird
SGRC2448 742389 892317 565 134 90 -60 88 90 2 1.4 16.0 RC Sunbird
including 89 90 1 0.7 30.6 RC Sunbird