<SEC-DOCUMENT>0001104659-25-047680.txt : 20250513
<SEC-HEADER>0001104659-25-047680.hdr.sgml : 20250513
<ACCEPTANCE-DATETIME>20250513113413
ACCESSION NUMBER:		0001104659-25-047680
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250513
FILED AS OF DATE:		20250513
DATE AS OF CHANGE:		20250513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORTUNA MINING CORP.
		CENTRAL INDEX KEY:			0001341335
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35297
		FILM NUMBER:		25938199

	BUSINESS ADDRESS:	
		STREET 1:		1111 MELVILLE STREET, SUITE 820
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3V6
		BUSINESS PHONE:		604-484-4085

	MAIL ADDRESS:	
		STREET 1:		1111 MELVILLE STREET, SUITE 820
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3V6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FORTUNA SILVER MINES INC
		DATE OF NAME CHANGE:	20051013
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2514942d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.75in; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of <U>May 2025</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number <U>001-35297</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Fortuna Mining Corp.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>1111 Melville Street, Suite 820, Vancouver,
British Columbia, Canada V6E 3V6</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FORM 20-F &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 44%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FORM 40-F &nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): &nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): &nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Fortuna Mining Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 3%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Date: &nbsp;May 13, 2025</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><U>/s/ &nbsp;&quot;<I>Jorge Ganoza Durant</I>&quot;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Jorge Ganoza Durant </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">President and CEO</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibits:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><A HREF="tm2514942d1_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;News release dated May 13, 2025</A>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2514942d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; color: #00509F">NEWS RELEASE</P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>Fortuna Completes Divestiture
of Yaramoko Mine and Provides Updated 2025 Production and Cost Guidance</B></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>Vancouver, May 13, 2025:
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) </B>(&#8220;<B>Fortuna</B>&#8221; or the &#8220;<B>Company</B>&#8221;) is pleased to announce
the successful completion of the sale of its interest in Roxgold Sanu SA (&#8220;<B>Roxgold Sanu</B>&#8221;), together with the Company&#8217;s
three other wholly-owned Burkina Faso subsidiaries (together with Roxgold Sanu, the &#8220;<B>Acquired Companies</B>&#8221;) to Soleil
Resources International Ltd. (&#8220;<B>SRI</B>&#8221;), a private Mauritius company (the &#8220;<B>Transaction</B>&#8221;). Roxgold Sanu
owns and operates the Yaramoko Mine in the Bal&eacute; Province, Burkina Faso. The Transaction closed pursuant to the terms of a definitive
share purchase agreement (the &#8220;<B>Share Purchase Agreement</B>&#8221;). All references to dollar amounts in this news release are
expressed in US dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Jorge A. Ganoza, President and
CEO, commented, &#8220;We&#8217;re taking the opportunities a strong gold market provides to streamline our asset portfolio. The recent
closings of the high-cost San Jose Mine sale in April and the Yaramoko Mine sale in May represent the divestment of two operations with
limited reserve life.&#8221; Mr. Ganoza continued, &#8220;In the case of Yaramoko, we received a compelling offer that provided a prudent
exit from a jurisdiction where we are no longer pursuing exploration activities and where the operating and security landscape remains
challenging.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><BR>
Mr. Ganoza concluded, &#8220;Collectively, these transactions enable us to shift our focus away from mine closures - reallocating approximately
$50 million in capital and freeing up management capacity - to pursue higher-value opportunities aligned with our strategic objectives.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The proceeds from the sale increase
the Company&acute;s first quarter cash and short term investments to over $380 million and liquidity to over $530 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>Details of the Transaction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Under the terms of the Share
Purchase Agreement, SRI acquired all of the issued and outstanding shares of the Acquired Companies held by Fortuna&#8217;s subsidiaries
in consideration for the payment of $70 million in cash. Prior to the closing of the Transaction, Roxgold Sanu paid to the Company a cash
dividend in the amount of $53.8 million plus $3.7 million in withholding tax. The agreement also provides that the Company has the right
to receive up to approximately $53 million of value added tax receivables upon the completion of certain conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The Company has now ceased all
operations in Burkina Faso.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>Updated 2025 Production and
Cost Guidance Reflects Streamlining of the Portfolio</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Following the divestiture of
the Yaramoko Mine, Fortuna has updated its consolidated production and cost guidance for 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Gold equivalent production guidance</B> has been updated to 309,000 to 339,000
ounces, down from the original range of 380,000 to 422,000 ounces; an 18 percent reduction at the midpoint.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify"><B>Consolidated
cash cost guidance</B> remains unchanged in the original range of $895 to $1,015 per gold equivalent ounce (&#8220;GEO&#8221;).</TD></TR>

<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>All-in Sustaining Cost (AISC) guidance</B> has been updated to a range of $1,670
to $1,765 per GEO, up from the previous estimate of $1,550 to $1,680 per GEO. This adjustment indicates a 6% increase over the midpoint
of original guidance and primarily reflects the net impact of the exclusion of the Yaramoko Mine's contribution, and a reduction in the
AISC estimate for the Lindero Mine.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The updated
AISC guidance continues to account for expenditures totaling approximately $45 per GEO, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 65.95pt">$5.3 M for the upgrade of the Company&#8217;s enterprise resource planning (&#8220;ERP&#8221;)
system to SAP S/4HANA</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 65.95pt">$2 M in land compensation payments at S&eacute;gu&eacute;la</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 65.95pt">$7 M in incremental government royalty payments at the S&eacute;gu&eacute;la Mine</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 2in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">2025 Updated Annual GEO Production
and AISC Guidance by Mine</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #0050A0">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 0.1in; border-bottom: Black 1pt solid; white-space: nowrap; width: 28%"><FONT STYLE="font-size: 10pt; color: white"><B>Mines</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 16%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2025<BR>
    Original</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(000 oz)</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 16%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2025<BR>
    Updated</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(000 oz)</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 16%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>AISC<BR>
    Original<SUP>1,2,5</SUP></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(US$/oz)</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 24%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>AISC<BR>
    Updated<SUP>1,2,5</SUP></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(US$/oz)</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; white-space: nowrap; background-color: rgb(242,242,242)"><FONT STYLE="font-size: 10pt; color: black"><B>Silver</B></FONT></TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; background-color: White; white-space: nowrap"><FONT STYLE="font-size: 10pt; color: black">Caylloma, Peru<SUP>3</SUP></FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">3,670 &#8211; 4,080</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">3,670 &#8211; 4,080</FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">21.7 - 24.7</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">21.7 - 24.7</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; white-space: nowrap; background-color: rgb(242,242,242)"><FONT STYLE="font-size: 10pt; color: black"><B>Gold</B></FONT></TD>
    <TD STYLE="background-color: rgb(242,242,242)">&nbsp;</TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; background-color: White; white-space: nowrap"><FONT STYLE="font-size: 10pt; color: black">S&eacute;gu&eacute;la, C&ocirc;te d&#8217;Ivoire</FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">134 - 147</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">134 - 147</FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,500 - 1,600</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,500 - 1,600</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; background-color: White; white-space: nowrap"><FONT STYLE="font-size: 10pt; color: black">Lindero, Argentina<SUP>4</SUP></FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">93 &#8211; 105</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">93 - 105</FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,600 - 1,770</FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,600 - 1,720</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.1in; background-color: White; white-space: nowrap"><FONT STYLE="font-size: 10pt; color: black">Yaramoko, Burkina Faso<SUP>6</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">107 - 121</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">38</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,165 - 1,320</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black">1,410</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.1in; white-space: nowrap; background-color: White"><FONT STYLE="font-size: 10pt; color: black"><B>Consolidated GEO Total</B></FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>380 - 422</B></FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>309 - 339</B></FONT></TD>
    <TD STYLE="background-color: White; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>$1,550 - 1,680<SUP>7</SUP></B></FONT></TD>
    <TD STYLE="background-color: rgb(217,217,217); text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>$1,670 - 1,765<SUP>7</SUP></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.35pt; text-align: justify"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Cash Cost and all-in sustaining cost (AISC) are non-IFRS financial measures which
are not standardized financial measures under the financial reporting framework used to prepare the financial statements of the Company
and might not be comparable to similar financial measures disclosed by other issuers. Refer to the note under &#8220;Non-IFRS Financial
Measures&#8221; below</TD></TR>
<TR STYLE="vertical-align: top">
<TD>2.</TD><TD STYLE="text-align: justify">AISC includes sustaining capital expenditures, worker&#8217;s participation (as
applicable) commercial and government royalties mining tax, export duties (as applicable), subsidiary G&amp;A and Brownfields exploration
and is estimated at metal prices of $2,500/oz Au, $30.0/oz Ag, $2,100/t Pb, and $2,700/t Zn. AISC excludes government mining royalty recognized
as income tax within the scope of IAS-12.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>3.</TD><TD STYLE="text-align: justify">Silver equivalent is calculated at metal prices of $2,500/oz Au, $30.0/oz Ag, $2,100/t
Pb and $2,700/t Zn. The guidance assumes an exchange rate of 0.89&nbsp;USD/EUR. For Argentina, it assumes an annual inflation rate of
29 percent and an annual devaluation of 18 percent.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>4.</TD><TD STYLE="text-align: justify">The cost guidance for the Lindero Mine does not take into account potential changes
by the new Argentine Government to national macroeconomic policies, the taxation system and import and export duties which, if implemented,
may have a material impact on costs</TD></TR>
<TR STYLE="vertical-align: top">
<TD>5.</TD><TD STYLE="text-align: justify">Historical non-IFRS measure cost comparatives: The following table provides the
historical cash costs and historical AISC for the Company&#8217;s four mines which were operating during the year ended December 31, 2024,
as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 64.5pt 0pt 81pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
  <TR STYLE="background-color: #0050A0">
    <TD STYLE="border-top: gray 1pt solid; padding-left: 0.1in; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Mine</B></FONT></TD>
    <TD STYLE="padding: 2pt 3.5pt 2pt 14.2pt; width: 31%; border-top: gray 1pt solid; border-bottom: gray 1pt solid; text-align: center; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Cash Cost<SUP>a,b,c</SUP></B></FONT></TD>
    <TD STYLE="padding: 2pt 3.5pt 2pt 14.2pt; width: 31%; border-top: gray 1pt solid; border-bottom: gray 1pt solid; text-align: center; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>AISC<SUP>a,b,c</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Silver</B></FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($/oz Ag Eq)</B></FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; white-space: nowrap; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($/oz Ag Eq)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Caylloma, Peru</FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.12</FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.72</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gold</B></FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($/oz Au)</B></FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; white-space: nowrap; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>($/oz Au)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lindero, Argentina</FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,051</FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,793</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yaramoko, Burkina Faso</FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">860</FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,359</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: gray 1pt solid; padding-left: 0.1in; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S&eacute;gu&eacute;la, C&ocirc;te d&#8217;Ivoire</FONT></TD>
    <TD STYLE="padding: 2pt 20pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">584</FONT></TD>
    <TD STYLE="padding: 2pt 12.85pt 2pt 14.2pt; text-align: right; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,153</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">Cash cost and AISC are non-IFRS financial measures; refer to the note under &#8220;Non-IFRS
Financial Measures&#8221; below.</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>b.</TD><TD STYLE="text-align: justify">Silver equivalent was calculated at metal prices of $2,401/oz Au, $28.00/oz Ag,
$2,072/t Pb and $2,786/t Zn for the year ended December 31, 2024.</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>c.</TD><TD STYLE="text-align: justify">Further details on the cash costs and AISC for the year ended December 31, 2024
are disclosed on pages 31, 33 and 35 (with respect to cash costs) and page 37 (with respect to AISC) of the Company&#8217;s management
discussion and analysis (&#8220;MD&amp;A&#8221;) for the year ended December 31, 2024 dated as of March 5, 2025 (&#8220;2024 MD&amp;A&#8221;)
which is available under Fortuna's SEDAR+ profile at www.sedarplus.ca and is incorporated by reference into this news release, and the
note under &#8220;Non-IFRS Financial Measures&#8221; below</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 64.6pt 0pt 106.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Yaramoko production reported as of April 14, 2025; AISC reported as of March 31, 2025</TD></TR>
<TR STYLE="vertical-align: top">
<TD>7.</TD><TD STYLE="text-align: justify">Refer to Appendix</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Qualified Person</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-weight: normal">Eric
Chapman, Senior Vice President of Technical Services for Fortuna Mining Corp., is a Professional Geoscientist registered with Engineers
and Geoscientists British Columbia (Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101 Standards
of Disclosure for Mineral Projects. Mr. Chapman has reviewed and approved the scientific and technical information contained in this news
release and has verified the underlying data.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><BR>
About Fortuna Mining Corp.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Fortuna Mining Corp. is
a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, C&ocirc;te d'Ivoire, Mexico,
and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships.
We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental
protection, and social responsibility. For more information, please visit <U>www.fortunamining.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">ON BEHALF OF THE BOARD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Jorge A. Ganoza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">President, CEO, and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Fortuna Mining Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Investor Relations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Carlos Baca</B> | <U>info@fmcmail.com</U>
| <U>fortunamining.com</U> | <B><U>X</U></B> | <B><U>LinkedIn</U></B> | <B><U>YouTube</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.35pt"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.35pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>&nbsp;<IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT=""></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I><U>Forward-looking Statements</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>This news release contains
forward-looking statements which constitute &#8220;forward-looking information&#8221; within the meaning of applicable Canadian securities
legislation and &#8220;forward-looking statements&#8221; within the meaning of the &#8220;safe harbor&#8221; provisions of the Private
Securities Litigation Reform Act of 1995 (collectively, &#8220;Forward-looking Statements&#8221;). 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 include, without limitation, Fortuna's right to receive certain additional payments upon the completion
of certain conditions post-closing; estimated production forecasts for 2025; estimated cash costs and all-in sustaining cash costs for
2025; and the Company&#8217;s business strategy, plans and outlook. Often, but not always, these Forward-looking Statements can be identified
by the use of words such as &#8220;estimated&#8221;, &#8220;potential&#8221;, &#8220;open&#8221;, &#8220;future&#8221;, &#8220;assumed&#8221;,
 &#8220;projected&#8221;, &#8220;used&#8221;, &#8220;detailed&#8221;, &#8220;has been&#8221;, &#8220;gain&#8221;, &#8220;planned&#8221;,
 &#8220;reflecting&#8221;, &#8220;will&#8221;, &#8220;containing&#8221;, &#8220;remaining&#8221;, &#8220;to be&#8221;, or statements that
events, &#8220;could&#8221; or &#8220;should&#8221; occur or be achieved and similar expressions, including negative variations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>The forward-looking statements
in this news release also include financial outlooks and other forward-looking metrics relating to the Company and its business, including
references to financial and business prospects and future results of operations, including production, and cost guidance, anticipated
future financial performance and anticipated production, costs and other metrics. Such information, which may be considered future oriented
financial information or financial outlooks within the meaning of applicable Canadian securities legislation (collectively, &#8220;FOFI&#8221;),
has been approved by management of the Company and is based on assumptions which management believes were reasonable on the date such
FOFI was prepared, having regard to the industry, business, financial conditions, plans and prospects of the Company and its business
and properties. These projections are provided to describe the prospective performance of the Company&#8217;s business and operations.
Nevertheless, readers are cautioned that such information is highly subjective and should not be relied on as necessarily indicative of
future results and that actual results may differ significantly from such projections. FOFI constitutes forward-looking statements and
is subject to the same assumptions, uncertainties, risk factors and qualifications as set forth below.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>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 or implied by the Forward-looking</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.3pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 69.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT=""></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>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 or 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; uncertainties related to new mining operations, including the possibility that actual capital and operating costs and economic
returns will differ significantly from those estimated for such projects prior to production; risks relating to the Company&#8217;s ability
to replace its Mineral Reserves; capital and currency controls in foreign jurisdictions; 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; risks
associated with political instability and changes to the regulations governing the Company&#8217;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, including relating to the newly elected government in Argentina; risks associated with war, hostilities
or other conflicts, such as the Ukrainian &#8211; Russian conflict and the Israel &#8211; Hamas war, and the impact they may have on
global economic activity; risks relating to the termination of the Company&#8217;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&#8217;s exploration, development and operational
activities; risks related to the Company&#8217;s ability to obtain adequate financing for planned exploration and development activities;
property title matters; risks relating to the integration of businesses and assets acquired by the Company; assessment of the carrying
value of the Company&#8217;s assets, including the ongoing potential for material impairment and/or write downs of such assets; 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&#8217;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 for land reclamation; risks associated with
dependence upon information technology systems, which are subject to disruption, damage, failure and risks with implementation and integration;
risks associated with climate change legislation; 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 Competition Act (Canada); labor relations issues; as well as those factors discussed under &#8220;Risk
Factors&#8221; in the Company&#8217;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.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>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&#8217;s current mineral resource and reserve estimates; that the Company&#8217;s activities will be conducted in accordance
with the Company&#8217;s public statements and stated goals; exchange rate and annual inflation rate assumptions in respect of cash cost
and AISC guidance; that there will be no material adverse change affecting the Company, its properties or its production estimates (which
assume accuracy of projected ore grade, 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 duration and impacts of geo-political uncertainties on the Company&#8217;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&#8217;s business and operations on acceptable terms; that there will be no significant disruptions
affecting the Company&#8217;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.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 33.3pt; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 33.3pt; text-align: justify; text-indent: 0.5in"><I></I></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 65.95pt 0pt 33.3pt; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><I><IMG SRC="tm2514942d1_ex99-1img001.jpg" ALT=""></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I><U>Non-IFRS
Financial Measures </U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>This news release also
refers to non-IFRS financial measures, including cash costs and all-in sustaining costs. These measures are not standardized financial
measures under International Financial Reporting Standards (IFRS), the financial reporting framework used to prepare the financial statements
of the Company and therefore may not be comparable to similar financial measures disclosed by other mining companies. These Non-IFRS
Measures include cash costs and all-in sustaining cash costs. Readers should refer to the &#8220;Non-IFRS Financial Measures&#8221; section
in the Company&#8217;s 2024 MD&amp;A, which section is incorporated herein by reference, for an explanation of these measures and reconciliations
to the Company&#8217;s reported financial results in accordance with IFRS. The MD&amp;A 2024 is available on SEDAR+ at <U>www.sedarplus.ca</U>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I><U>Appendix</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B><I>2025 updated consolidated
AISC guidance</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
  <TR STYLE="background-color: #0050A0">
    <TD STYLE="border: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt; color: white"><B>AISC Guidance ($/GEO)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2025 Guidance</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap; width: 49%"><FONT STYLE="font-size: 10pt">Lindero</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; width: 21%; text-align: center"><FONT STYLE="font-size: 10pt">1,600</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; width: 5%; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; width: 25%; text-align: center"><FONT STYLE="font-size: 10pt">1,720</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt">Caylloma</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1,810</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2,060</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt">Yaramoko</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1,410</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt">S&eacute;gu&eacute;la</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1,500</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1,600</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt">Corporate G&amp;A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">116</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 3.5pt 2pt 0.1in; white-space: nowrap"><FONT STYLE="font-size: 10pt"><B>Consolidated AISC</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1,670</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 3.5pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1,765</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify">AISC includes sustaining capital expenditures, worker&#8217;s participation (as
applicable) commercial and government royalties mining tax, export duties (as applicable), subsidiary G&amp;A and Brownfields exploration
and is estimated at metal prices of $2,500/oz Au, $30.0/oz Ag, $2,100/t Pb, and $2,700/t Zn. AISC excludes government mining royalty recognized
as income tax within the scope of IAS-12.</TD></TR></TABLE>



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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
