Fortuna Doubles Indicated Gold Resources at Séguéla, Paving Way for Major Expansion

Fortuna Mining has announced a major step forward in the development of its Séguéla gold mine in Côte d’Ivoire, unveiling a substantial expansion of its resource base that reinforces the mine’s long term potential. The company has doubled its indicated gold resources compared with figures published in December 2024, establishing Séguéla as a significantly larger and more robust asset than previously understood. This milestone has extended the mine’s life to 7.5 years and set the stage for an accelerated program of drilling, technical studies and infrastructure upgrades aimed at unlocking even greater production capacity.

The updated mineral inventory highlights a strong uplift across all categories. Proven and probable reserves now stand at 1.2 million ounces at an average grade of 2.81 grams per tonne, supported by measured and indicated resources of 794,000 ounces that lie outside the reserve envelope. Inferred resources have risen by 15 percent to 712,000 ounces, demonstrating the continued success of exploration work across the property. These expansions mark the largest mineral resource ever defined at Séguéla and reflect the geological potential revealed through recent drilling, particularly within the Kingfisher and Sunbird zones. Notably, the Kingfisher zone has contributed to reserves for the first time with 257,000 ounces, confirming its emerging importance within the broader mine plan.

In response to these advances, Fortuna has launched an aggressive program of infill drilling, designed to improve resource confidence and guide strategic investment decisions. At the same time, the company is conducting detailed studies to assess a substantial expansion of processing capacity, potentially increasing throughput from the current 1.25 million tonnes per year to between 2 and 2.5 million tonnes annually. Through targeted low capital optimisation initiatives, the plant is expected to achieve 1.75 million tonnes of annual processing capacity by 2026. Complementing these upgrades, ongoing drilling campaigns and field programs will continue through 2026, aiming to identify additional high grade zones and extend the mine’s life even further.

These developments carry significant implications for both Fortuna and the broader West African gold sector. The enlarged resource base strengthens the economic foundation for potential plant expansion, which could unlock higher annual gold output and enhance operational economies of scale. For Côte d’Ivoire and Africa’s mining industry, Séguéla’s growth demonstrates how sustained exploration investment can extend asset longevity, increase national revenue potential and reinforce the region’s reputation as one of the world’s most attractive gold mining corridors.

Mini Glossary

• Indicated resources, mineral quantities estimated with reasonable geological confidence, used to support mine planning.
• Infill drilling, drilling conducted between existing drill holes to increase confidence in resource estimates.
• Processing capacity, the volume of ore a plant can treat within a given time period.
• Inferred resources, mineral estimates based on limited geological evidence with lower confidence levels.
• Economies of scale, cost advantages gained when production volume increases.