Fortuna reports second quarter 2026 production of 72,217 gold equivalent ounces and advances key growth initiatives

VANCOUVER, British Columbia, July 09, 2026 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) reports production results for the second quarter and first half of 2026 from its three operating mines in West Africa and Latin America, and provides updates on growth initiatives, capital allocation, safety, and key operating activities across its portfolio. All figures presented in this news release are expressed in U.S. dollars, unless otherwise indicated.

Q2 2026 highlights

Production

• Production totaled 72,217 gold equivalent ounces ("GEO")1,2 in the second quarter of 2026, broadly in line with 72,872 GEO in Q1 20262,5,6 and slightly above 71,229 GEO in Q2 20252,3,4. First-half production totaled 145,089 GEO, positioning the Company to achieve its 2026 annual production guidance of 281,000 to 305,000 GEO7.
  

Growth initiatives

• Séguéla process plant expansion studies were completed in late June by Lycopodium. The proposed expansion would increase processing capacity to approximately 2.3 million tonnes per annum and is currently being evaluated for a construction decision expected in the coming weeks.

• Diamba Sud advanced toward a final investment decision following the receipt of the Environmental and Social Impact Assessment (ESIA), and the publication of feasibility study (FS) results. The FS highlighted a robust project with an after-tax NPV5% of $1.0 billion, an IRR of 60%, and a one-year payback period at a gold price of $3,500 per ounce8.

Return to shareholders

• Returned $80.2 million to shareholders through the repurchase of 8.6 million common shares under the Company's normal course issuer bid during the second quarter of 2026, at an average price of $9.32 per share. This follows $20.3 million of share repurchases in Q1 2026, and $12.1 million in Q4 2025.
  

Safety

• It is with deep regret that we report a fatal accident involving an employee of one of our mining contractors at the Séguéla Mine. The accident involved a haul truck. Following the accident, a comprehensive investigation was completed and resulting learnings have been incorporated into the Company's ongoing safety and operational controls.
  
  

• Total Recordable Injury Frequency Rate (TRIFR) for Q2 2026 was 1.23, compared to 1.16 in Q1 2026 per million hours worked.
  
  

Q2 and H1 2026 consolidated GEO production