<SEC-DOCUMENT>0001104659-25-113805.txt : 20251119
<SEC-HEADER>0001104659-25-113805.hdr.sgml : 20251119
<ACCEPTANCE-DATETIME>20251118202134
ACCESSION NUMBER:		0001104659-25-113805
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20251118
FILED AS OF DATE:		20251119
DATE AS OF CHANGE:		20251118

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:		251496446

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		1111 MELVILLE STREET, SUITE 820
		CITY:			VANCOUVER
		PROVINCE COUNTRY:   	A1
		ZIP:			V6E 3V6
		BUSINESS PHONE:		604-484-4085

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		1111 MELVILLE STREET, SUITE 820
		CITY:			VANCOUVER
		PROVINCE COUNTRY:   	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>tm2531652d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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<BR>
 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>November 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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 60%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: center; width: 0in"></TD><TD STYLE="text-align: center">FORM 20-F &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
                                                                                 <TD STYLE="text-align: center">FORM 40-F &nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
</TR></TABLE>


<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;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>Date: &nbsp;November 18, 2025</TD>
    <TD COLSPAN="2"><B>Fortuna Mining Corp.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(Registrant)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%">/s/ &quot;<I>Jorge Ganoza Durant</I>&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jorge Ganoza Durant</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>President and CEO</TD></TR>
  </TABLE>

<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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><A HREF="tm2531652d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>99.1</B></A></TD><TD STYLE="text-align: justify"><A HREF="tm2531652d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>News Release dated November 18, 2025</B></A></TD>
</TR></TABLE>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2531652d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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="tm2531652d1_ex99-1img001.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 18pt; color: #0050a0"><B>NEWS
RELEASE</B></FONT></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fortuna Expands Mineral Reserves and Mineral
Resources for the S&eacute;gu&eacute;la Mine, C&ocirc;te d'Ivoire</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Vancouver,
November&nbsp;18, 2025 - Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) </B></FONT>is pleased to announce updated Mineral Reserves and Mineral
Resources excluding Mineral Reserves for the S&eacute;gu&eacute;la Mine, reporting 1.2&nbsp;million ounces of gold in Mineral Reserves,
794,000 ounces of gold in Indicated Resources, and 712,000 ounces of gold in Inferred Resources.</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: justify">Jorge A. Ganoza, President and CEO, commented,
 &ldquo;Continued exploration success over the last two years has created a clear pathway to not only extend the life of mine at S&eacute;gu&eacute;la,
but also to evaluate a further plant expansion and a potential increase in annual gold production.&rdquo; Mr.&nbsp;Ganoza continued, &ldquo;S&eacute;gu&eacute;la
now boasts a 7.5-year life of mine and its largest Mineral Resource inventory on record. In response, we have launched aggressive infill
drilling programs, advanced underground mining studies, and initiated plant expansion evaluations to fully capture the opportunities created
by our exploration success.&rdquo; Mr.&nbsp;Ganoza concluded, &ldquo;With robust exploration programs underway and continuing into 2026,
we are confident in our ability to unlock further value from our commanding land position at S&eacute;gu&eacute;la.&rdquo;</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: justify"><B>Updated Mineral Reserves and Mineral Resources
Highlights</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Growth in Mineral Reserves offset production-related depletion, with an estimated 1.2 million ounces of
gold, representing an 11% increase compared to December&nbsp;31, 2024.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Measured and Indicated Mineral Resources, exclusive of Mineral Reserves, are reported containing 794,000
ounces of gold, a 100% increase compared to December&nbsp;31, 2024.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Inferred Mineral Resources are reported containing 712,000 ounces of gold, reflecting a 15% increase compared
to December&nbsp;31, 2024.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Kingfisher and Sunbird host the largest Mineral Reserves and Mineral Resources where mineralization remains
open at both deposits.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Completion of the underground mining study, supporting the potential conversion of up to 502,000 gold
ounces of Sunbird Indicated Resources into Mineral Reserves, is expected in December&nbsp;2025.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Technical studies have been initiated to evaluate a plant expansion of approximately 25% capacity to between
2.0 and 2.5&nbsp;million tonnes per year; studies are expected to be completed in the second quarter of 2026.</TD></TR></TABLE>

<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"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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>Mineral Reserves</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #1F497D">
    <TD COLSPAN="5" STYLE="color: White; border: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven
    and Probable</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 25%; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contained Metal</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Location</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Classification</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Tonnes</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 34.5pt"><B>(000)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 50.25pt"><B>(g/t)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 47.25pt"><B>(koz)</B></P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockpile</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proven</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">962</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Open Pit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Antenna</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,489</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">176</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koula</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">786</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ancien</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,183</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.23</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">161</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agouti</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">754</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.61</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boulder</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">532</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.88</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunbird</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,409</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.31</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">256</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Badior</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">404</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kingfisher</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Probable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,497</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.28</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">257</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven + Probable</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13,016</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.81</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1,177</B></FONT></TD></TR>
  </TABLE>
<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>Mineral Resources</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #1F497D">
    <TD COLSPAN="5" STYLE="border: Black 1pt solid; padding: 0.85pt 5.4pt; color: White"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured
    and Indicated</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 25%; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contained Metal</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Location</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Classification</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Tonnes</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 47.25pt"><B>(000)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 50.25pt"><B>(g/t)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 47.25pt"><B>(koz)</B></P></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Open Pit (OP)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Antenna</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,461</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.58</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">74</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koula</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">149</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.33</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ancien</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">112</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.19</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agouti</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">59</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boulder</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">329</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.47</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunbird</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">255</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.12</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Badior</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">61</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.48</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kingfisher</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">752</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.66</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OP Combined</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indicated</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3,177</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.03</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>207</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underground (UG)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koula</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.83</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ancien</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">472</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.43</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">82</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunbird</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicated</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,597</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">502</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UG Combined</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indicated</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4,093</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.46</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>587</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indicated</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7,270</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.40</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>794</B></FONT></TD></TR>
  </TABLE>
<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"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
  <TR STYLE="color: White; background-color: #1F497D">
    <TD COLSPAN="5" STYLE="color: White; border: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 25%; padding: 0.85pt 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contained Metal</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Location</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Classification</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Tonnes</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 47.25pt"><B>(000)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 50.25pt"><B>(g/t)</B></P></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding: 0.85pt 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Au</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 47.25pt"><B>(koz)</B></P></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Open Pit (OP)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Antenna</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,498</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.91</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koula</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">155</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.61</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ancien</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.87</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agouti</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">160</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.64</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunbird</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.46</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; background-color: white; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Badior</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.08</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kestrel</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.73</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kingfisher</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,554</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.82</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">267</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OP Combined</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6,586</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.91</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>404</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underground (UG)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koula</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">316</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.70</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">48</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ancien</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.86</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunbird</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,719</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.41</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">244</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kingfisher</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inferred</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.98</FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UG Combined</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2,193</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.36</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>307</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding: 0.85pt 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8,779</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.52</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding: 0.85pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>712</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Mineral Reserves and Mineral Resources are as defined by the 2014 CIM Definition Standards for Mineral
Resources and Mineral Reserves.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Mineral Resources are exclusive of Mineral Reserves.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD><TD STYLE="text-align: justify">Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="text-align: justify">Factors that could materially affect the reported Mineral Resources or Mineral Reserves include changes
in metal price and exchange rate assumptions; changes in local interpretations of mineralization; changes to assumed metallurgical recoveries,
mining dilution and recovery; and assumptions as to the continued ability to access the site, retain mineral and surface rights titles,
maintain environmental and other regulatory permits, and maintain the social license to operate.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD><TD STYLE="text-align: justify">Mineral Resources and Mineral Reserves are reported as of October&nbsp;31, 2025.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD><TD STYLE="text-align: justify">Mineral Reserves are reported on a 100% ownership basis using incremental gold grade cut-offs of 0.73
g/t Au for Antenna and Koula, 0.76 g/t Au for Agouti, 0.75&nbsp;g/t Au for Boulder and Kingfisher, 0.83 g/t Au for Ancien and Badior,
and 0.74 g/t Au for Sunbird deposits. These estimates are based on a gold price of US$2,300/oz, metallurgical recovery rates of 93.5%,
except for Badior at 91.5%, ex-pit mining costs ranging from US$3.09/t to US$5.74/t, incremental haulage costs ranging from US$3.62/t
to US$10.06/t based on the pit&rsquo;s geographical location in relation to the run-of-mine Pad, processing costs of US$21.28/t, general
and administrative (G&amp;A) costs of US$16.21/t, and sustaining capital of US$4.37/t. Only Proven and Probable Mineral Reserve categories
within the final pit designs are reported. Pit designs for Antenna, Ancien, Koula, Badior and Kingfisher were developed using inter-ramp
angles ranging from 30.6&deg; to 38.3&deg; for oxide material, 40.7&deg; to 42.9&deg; for transitional material, and 59.6&deg; for fresh
material. The Agouti and Boulder pits were designed with inter-ramp angles of 36.8&deg; for oxide, 44.2&deg; for transitional, and 60.0&deg;
for fresh rock. The Sunbird pit design applied inter-ramp angles of 40.7&deg; for oxide, 36.5&deg; to 59.6&deg; for transitional, and
52.2&deg; to 61.2&deg; for fresh material. The reported Mineral Reserves incorporate modifying factors for mining dilution and recovery,
represented by regularization of the block models to an appropriate Selective Mining Unit (SMU) block size. Mineral Resources for the
S&eacute;gu&eacute;la Mine are reported at gold grade cut-offs of 0.65 g/t Au for Antenna, 0.66 g/t Au for Kestrel, Boulder, Sunbird,
and Kingfisher, 0.68&nbsp;g/t Au for Agouti, and 0.73 g/t Au for Ancien and Badior. These are based on an assumed gold price of US$2,600/oz
and are constrained within preliminary pit shells honoring all geotechnical parameters. Underground Mineral Resources are reported within
the optimized stope shapes based on a Longhole Stoping mining method at cut-off grades of 2.32 g/t Au for Sunbird and Koula, and 2.41
g/t Au for Ancien. The S&eacute;gu&eacute;la Mine is subject to a 10% free carried interest held by the State of C&ocirc;te d&rsquo;Ivoire.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD><TD STYLE="text-align: justify">Eric Chapman, P. Geo. (EGBC #36328), is the Qualified Person responsible for Mineral Resources; Raul Espinoza
(FAUSIMM (CP) #309581) is the Qualified Person responsible for Mineral Reserves; both being employees of Fortuna Mining Corp.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">Totals may not add due to rounding.</TD></TR></TABLE>

<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"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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: justify"><B>Mineral Reserves</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: justify">As of October&nbsp;31, 2025, the S&eacute;gu&eacute;la
Mine has Proven and Probable Mineral Reserves of 13.0&nbsp;million tonnes containing 1.2 million ounces of gold.</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: justify">From December&nbsp;31, 2024, to October&nbsp;31,
2025, Mineral Reserve tonnes increased by 33%, while gold grade decreased by 17% to 2.81 g/t Au, resulting in a net increase of 11% in
contained gold ounces.</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
reduction in the global reserve gold grade from 3.38 g/t Au to 2.81 g/t Au is a direct consequence of incorporating the Kingfisher deposit
Mineral Reserves, while production during the period of January&nbsp;to October&nbsp;2025 depleted higher grade material from the Koula
and Ancien deposits. Although the Kingfisher deposit exhibits lower average grades relative to the high grade deposits, it benefits from
a lower strip ratio of 7.6</FONT>:1, compared to the average strip ratio of the Mineral Reserves of 13.4:1.</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: justify">Changes in the S&eacute;gu&eacute;la Mine's Mineral
Reserves are a result of:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Mining-related depletion in the first ten months of 2025 totaling 129,000 ounces of gold.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">The first-time estimation of Mineral Reserves for the Kingfisher deposit, totaling 3.5 million tonnes
at an average grade of 2.28 g/t Au containing 257,000 ounces of gold.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Additional variations driven by an updated geologic interpretation of the Koula deposit, as a result of
grade-control drilling, as well as adjustments to operational costs and gold price assumptions.</TD></TR></TABLE>

<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: justify"><B>Mineral Resources</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: justify">Measured and Indicated Mineral Resource gold ounces,
exclusive of Mineral Reserves, increased by 100%, or 398,000 ounces. The change in Indicated Resources was driven by the growth in the
Sunbird Underground Project which stands at 3.6 million tonnes averaging 4.34 g/t Au containing 502,000 gold ounces, an increase of 288,000
ounces compared to December&nbsp;31, 2024. Changes were also a result of updating gold metal prices and pit optimizations to incorporate
an additional 110,000 ounces of gold across all deposits.</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: justify">Inferred Resources tonnage increased by 30% to
8.8 million tonnes, while gold grade decreased by 11% to 2.52&nbsp;g/t, resulting in a net increase of 15% in contained gold to 712,000
ounces. The primary driver of this change was growth at the Kingfisher deposit, where most of the resources upgraded to Mineral Reserves
were replaced by new Inferred Resources totaling 267,000 ounces of gold. Further contribution came from the Sunbird Underground Project
where all upgraded Inferred Resources were replenished and an additional 53,000 ounces of gold added, bringing the total Inferred Resource
to 1.7 million tonnes averaging 4.41 g/t Au containing 244,000 ounces of gold. Additional adjustments arose from updated gold price assumptions
and the resulting open pit and underground mineable shape optimizations, which identified the potential for underground resources at Kingfisher.</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: justify"><B>Ongoing Exploration and Infill Drilling to
Support Resource Growth</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: justify">Drill activities remain ongoing across the S&eacute;gu&eacute;la
property, with five drill rigs currently active. Current drilling is focused on the potential for upgrading Inferred to Indicated Resources
at the Sunbird Underground Project, while also evaluating mineralization potential at existing deposits and across the wider land package.
However, insufficient tonnes were identified at the Gabbro North prospect to support a potentially economical open pit at this time.</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"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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: justify"><B>Advancing Studies for Process Plant Expansion</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: justify">S&eacute;gu&eacute;la&rsquo;s processing plant
was commissioned in mid-2023 with a design throughput capacity of 156 t/hr, approximately 1.25 million tonnes per year. Since commissioning,
several low-capital optimization initiatives have been implemented to enhance the efficiency of the plant, and the operation is now expected
to treat 1.75 million tonnes per year beginning in 2026. Until recently, the increase in the mining rate required to sustain this higher
throughput had been constrained by the mine life, which limited the rationale for investing in expanding the processing capacity.</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: justify">The potential to extend mine life is supported
by several key developments:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Expansion of Mineral Resources at the Sunbird and Kingfisher deposits.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Strong conversion of Inferred to Indicated Resources.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Positive results from ongoing drilling of the Sunbird Underground Project completed after the June&nbsp;30,
2025 data cut-off.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Mineralization at both Kingfisher and Sunbird remains open in all directions.</TD></TR></TABLE>

<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: justify">Together, these factors provide increasing confidence
in the potential to extend the mine life through future drilling and mining studies.</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Given
this improved visibility, Fortuna has initiated </FONT>engineering studies to evaluate options for further expansion of processing plant
capacity.</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: justify"><B>Sunbird Underground Project</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: justify">Engineering work continues with the objective
of converting Mineral Resources to Mineral Reserves by December&nbsp;2025. All major technical studies, including among others, geotechnical,
metallurgical, hydrogeological, are now complete, and the project team is currently developing the pre-feasibility report.</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Sunbird Underground Project has the potential to underpin strong </FONT>S&eacute;gu&eacute;la production for several years. Planned upcoming
activities include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Updating Sunbird Underground Project Mineral Resources by year end.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Ordering long-lead equipment for underground mining.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Planning and execution of early works activities.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="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">Advancing government permitting.</TD></TR></TABLE>

<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"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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: justify"><B>Qualified Person</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: justify">Eric Chapman, Senior Vice President, Technical
Services, is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of British Columbia
(Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects.
Mr.&nbsp;Chapman has reviewed and approved the scientific and technical information contained in this news release and has verified the
underlying data.</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: justify"><B>About Fortuna Mining Corp.</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fortuna
Mining Corp. is a Canadian precious metals mining company with three operating mines and a portfolio of exploration projects in Argentina,
C&ocirc;te d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project in Senegal. Sustainability is at the core of our operations
and stakeholder relationships. We produce gold and silver while creating long-term shared value through efficient production, environmental
stewardship, and social responsibility. For more information, please visit our </FONT>website at <U>www.fortunamining.com</U>.</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: justify">ON BEHALF OF THE BOARD</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: justify"><B>Jorge A. Ganoza</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fortuna Mining Corp.</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: justify"><B>Investor Relations:</B></P>

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

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

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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><I>Forward-looking Statements</I></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: justify"><I>This news release contains forward-looking
statements which constitute &ldquo;forward-looking information&rdquo; within the meaning of applicable Canadian securities legislation
and &ldquo;forward-looking statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions of the Private Securities
Litigation Reform Act of 1995 (collectively, &ldquo;Forward-looking Statements&rdquo;). 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 may include, without limitation, the Mineral Resource and Mineral Reserve estimates; statements regarding extending
the life of mine at S&eacute;gu&eacute;la; statements regarding converting resources to reserves at the Sunbird Underground Project and
the anticipated timing thereof; upcoming planned activities at the Sunbird Underground Project; the Company&rsquo;s expectations regarding
the expansion of processing plant capacity and a potential increase in annual gold production at S&eacute;gu&eacute;la; the Company&rsquo;s
proposed exploration plans and objectives; statements about the Company&rsquo;s business strategies, plans and outlook; the Company&rsquo;s
plans for its mines and mineral properties; changes in general economic conditions and financial markets; the impact of inflationary pressures
on the Company&rsquo;s business and operations; the future results of exploration activities; expectations with respect to metal grade
estimates and the impact of any variations relative to metals grades experienced; assumed and future metal prices; the merit of the Company&rsquo;s
mines and mineral properties; and the future financial or operating performance of the Company. Often, but not always, these Forward-looking
Statements can be identified by the use of words such as &ldquo;estimated&rdquo;, &ldquo;potential&rdquo;, &ldquo;open&rdquo;, &ldquo;future&rdquo;,
 &ldquo;assumed&rdquo;, &ldquo;projected&rdquo;, &ldquo;proposed&rdquo;, &ldquo;used&rdquo;, &ldquo;detailed&rdquo;, &ldquo;has been&rdquo;,
 &ldquo;gain&rdquo;, &ldquo;planned&rdquo;, &ldquo;reflecting&rdquo;, &ldquo;will&rdquo;, &ldquo;anticipated&rdquo;, &ldquo;estimated&rdquo;
 &ldquo;containing&rdquo;, &ldquo;remaining&rdquo;, &ldquo;to be&rdquo;, or statements that events, &ldquo;could&rdquo; or &ldquo;should&rdquo;
occur or be achieved and similar expressions, including negative variations.</I></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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><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; risks relating to the Company&rsquo;s ability to replace its Mineral Reserves; risks related to the conversion of Mineral Resources
to Mineral Reserves; 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; </I></FONT><I>laws and <FONT STYLE="font-family: Times New Roman, Times, Serif">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); risks associated
with political instability and changes to the regulations governing the Company&rsquo;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; risks associated with war, hostilities or other conflicts, such as the Ukrainian &ndash; Russian, and Israeli
 &ndash; Hamas conflicts, and the impacts they may have on global economic activity; risks relating to the termination of the Company&rsquo;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&rsquo;s
exploration, development and operational activities; risks related to the Company&rsquo;s ability to obtain adequate financing for planned
exploration and development activities; property title matters; risks related to the ability to retain or extend title to the Company&rsquo;s
mineral properties; risks relating to the integration of businesses and assets acquired by the Company; impairments; 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&rsquo;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; labor relations issues;
as well as those factors discussed under &ldquo;Risk Factors&rdquo; in the Company's Annual Information Form&nbsp;for the fiscal year
ended December&nbsp;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.</FONT></I></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"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><IMG SRC="tm2531652d1_ex99-1img001.jpg" ALT=""></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: 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&rsquo;s
current Mineral Resource and Mineral Reserve estimates; that the Company&rsquo;s activities will be conducted in accordance with the Company&rsquo;s
public statements and stated goals; 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&rsquo;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&rsquo;s business and operations on acceptable terms; that there will be no significant disruptions
affecting the Company'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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cautionary Note to United States Investors
Concerning Estimates of Reserves and Resources</I></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: justify"><I>All reserve and resource estimates included
in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (&quot;NI
43-101&quot;) and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves.
NI 43-101 is a rule&nbsp;developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian
company of scientific and technical information concerning mineral projects. All Mineral Reserve and Mineral Resource estimates contained
in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum
Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements
of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable
to similar information disclosed by U.S. companies.</I></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"></P>

<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tm2531652d1_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2531652d1_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !! +8# 2(  A$! Q$!_\0
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@ !1110 4444 %%%% !1110 4444 %%%% !1110!__]D!

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