Fortuna Expands Mineral Reserve Gold Ounces by 31% and Extends Life of Mine to Over 9 Years at the Séguéla Mine, Côte d'Ivoire

About this update from Fortuna Mining Corp.

[{"type":"text","content":"Fortuna Expands Mineral Reserve Gold Ounces by 31% and Extends Life of Mine to Over 9 Years at the Séguéla Mine, Côte d'Ivoire\nVANCOUVER, British Columbia, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce updated Mineral Reserves and Mineral Resources, excluding Mineral Reserves, for the Séguéla Mine as of December 31, 2025. Mineral Reserves total 1.54 million ounces of gold, reflecting the inclusion of 401,000 ounces of gold planned for underground mining at the Sunbird deposit. Jorge A. Ganoza, President and CEO, commented, “Séguéla’s mine life now exceeds 9 years at current production rates, with strong potential for further growth. This is supported by exploration drilling completed in the second half of 2025, the results of which have not yet been incorporated into our geological resource models.” Mr. Ganoza added, “Building on this exploration upside and our track record of resource and reserve growth, we have initiated a processing plant expansion study that has the potential to increase annual gold production to more than 200,000 ounces.” Updated Mineral Reserves and Mineral Resources Highlights 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. Mineral Reserves Proven...

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