Fortuna Expands Underground Gold Potential at Séguéla Mine, Côte d’Ivoire

Fortuna Mining has announced a significant expansion of underground gold potential at its Séguéla mine in Côte d’Ivoire, following a series of highly encouraging drilling results. The latest exploration campaign, centered on the Sunbird deposit, has revealed substantial high-grade mineralization at depth, suggesting a strong opportunity to extend mine life and enhance production capacity. This development underscores Séguéla’s growing importance as one of West Africa’s most promising gold assets and highlights Côte d’Ivoire’s rising prominence in the continent’s mining landscape.

Recent drill results have been particularly noteworthy. Drill hole SGRD2434 intersected 16 meters grading 7.3 grams of gold per tonne (g/t Au) from a depth of 688 meters, while SGRD2444 returned 11.9 meters at 8.3 g/t Au from 448 meters. These assays confirm the presence of a second high-grade mineralized shoot that extends over 900 meters down plunge, significantly increasing the resource potential at Sunbird. With mineralization remaining open both at depth and along strike, Fortuna’s geological team believes that further drilling could reveal additional extensions, reinforcing the deposit’s potential as a long-term underground operation.

To capitalize on these promising results, Fortuna is allocating C$13.5 million in 2025 for continued exploration at Séguéla. The company currently has five drill rigs in operation, conducting infill and step-out drilling to refine the existing resource model and test new target zones within the broader mining concession. The Séguéla mine already hosts proven and probable reserves of 9.75 million tonnes grading 3.38 g/t Au, equivalent to 1.06 million ounces of contained gold. Production has exceeded expectations, with 137,781 ounces of gold output in 2024, and forecasts projecting an increase to 147,000 ounces in 2025 and potentially 180,000 ounces by 2026.

Beyond the Sunbird discovery, Fortuna’s exploration footprint in Côte d’Ivoire spans an extensive 620 square kilometers, comprising more than 30 identified targets with geological characteristics similar to the main deposit. The company’s aggressive exploration and strong operational results have driven investor optimism, reflected in a 75% rise in Fortuna’s share price in 2025, buoyed by robust global gold prices and growing confidence in West African mining assets.

Fortuna’s latest success at Séguéla not only strengthens its position as a leading mid-tier gold producer but also enhances Côte d’Ivoire’s reputation as a favorable mining destination. The continued growth of the Sunbird deposit reinforces the strategic potential of the region, attracting new exploration interest and contributing to the diversification of Africa’s gold supply base. This progress is expected to support local economic development and further integrate Côte d’Ivoire into the continent’s expanding gold value chain.

Mini-Glossary

• g/t Au (grams per tonne of gold): A unit of measurement indicating the concentration of gold within ore.
• Down plunge: The direction in which a mineralized zone extends below the surface, following its geological dip.
• Infill drilling: Drilling conducted between existing holes to increase the accuracy of a mineral resource estimate.
• Proven and probable reserves: The economically mineable part of a mineral resource confirmed by detailed studies.
• Step-out drilling: Drilling beyond known mineralized areas to explore for extensions of the deposit.