<SEC-DOCUMENT>0001104659-26-073886.txt : 20260615
<SEC-HEADER>0001104659-26-073886.hdr.sgml : 20260615
<ACCEPTANCE-DATETIME>20260615105449
ACCESSION NUMBER:		0001104659-26-073886
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20260615
FILED AS OF DATE:		20260615
DATE AS OF CHANGE:		20260615

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:		261089512

	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>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2617960d1_6k.htm
<DESCRIPTION>6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of <U>June 2026</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">&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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FORM 20-F &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FORM 40-F &nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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

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

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

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

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

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

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  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Fortuna Mining Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Date: &nbsp;June 15, 2026</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 62%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 3%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 35%; text-indent: 0">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><U>/s/&quot;<I>Jorge Ganoza Durant</I>&quot;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Jorge Ganoza Durant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">President and CEO</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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

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

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    <TD STYLE="padding: 0; width: 0.5in; text-indent: 0"><A HREF="tm2617960d1_ex99-1.htm"><FONT STYLE="font-size: 10pt"><B>99.1</B></FONT></A></TD>
    <TD STYLE="padding: 0; text-indent: 0"><A HREF="tm2617960d1_ex99-1.htm"><FONT STYLE="font-size: 10pt"><B>News Release dated June 15, 2026</B></FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

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<TYPE>EX-99.1
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<FILENAME>tm2617960d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

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

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

<P STYLE="color: #0050A0; font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="A close-up of a logo&#10;&#10;Description automatically generated" STYLE="height: 59px; width: 163px"></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; color: #0050A0; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0050A0; text-align: justify">NEWS
RELEASE</P>

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

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fortuna obtains key environmental approval
for Diamba Sud Gold Project in Senegal</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vancouver, British Columbia, June 15, 2026:
Fortuna Mining Corp. (NYSE: FSM | TSX:&nbsp;FVI) <FONT STYLE="font-weight: normal">announces that the Company has received the environmental
decree from Senegal&rsquo;s Ministry of Environment and Ecological Transition approving the Environmental and Social Impact Assessment
for the Diamba Sud Gold Mine. This authorization certifies that the project complies with all applicable environmental regulations and
has been socially accepted by the project&rsquo;s stakeholders. It marks a decisive step towards obtaining the mining permit following
the submission of its application to the Ministry of Energy, Petroleum, and Mines on February 4, 2026. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jorge A. Ganoza, President and CEO, commented,
&ldquo;Obtaining the environmental permit for our future Diamba Sud Gold Mine, just nine months from submission to approval, is a clear
testament to the quality of our work and demonstrates that mining projects in Senegal can advance on a highly competitive timeline. This
milestone also reflects the Government of Senegal&rsquo;s commitment to enabling the responsible development of its mining sector.&rdquo;
Mr.&nbsp;Ganoza continued, &ldquo;With this key approval in hand, we will continue advancing early construction works as we move toward
the important milestones of completing the feasibility study, followed by a final construction decision in mid-2026.&rdquo;&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Diamba Sud Gold Project, Senegal</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">The Diamba Sud
Gold Project is in the late stages of permitting and feasibility. A Preliminary Economic Assessment (&ldquo;PEA&rdquo;) outlined robust
project economics (refer to Fortuna news release dated October 15, 2025, &ldquo;<U>Fortuna delivers robust PEA for Diamba Sud Gold Project
in Senegal: After-tax IRR of 72% and NPV5% of US$563 million using US$2,750&nbsp;per ounce</U>&rdquo;). Early works are underway, including
camp construction and the placement of purchase orders for critical-path equipment packages. The 2026 project budget is US$100 million,
with a final investment and construction decision anticipated by mid-2026.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The PEA is preliminary in nature and includes
inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would
enable them to be categorized as mineral reserves; as such, there is no certainty that the PEA results will be realized. Mineral resources
that are not mineral reserves do not have demonstrated economic viability<SUP>1</SUP>.</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 7pt">Note:</FONT></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 7pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 7pt">Refer to
                                            the table in Appendix 2 on page 5 of this release for a summary of the PEA&rsquo;s key assumptions,
                                            operational parameters and economic results and values.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&rsquo;Ivoire, Guinea, Guyana,
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 website at <U>www.fortunamining.com</U></P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Forward looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&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, statements about the Company&rsquo;s plans for the development of the Diamba Sud
Gold Project, including the timing of a final investment and construction decision which is targeted for mid-2026, and is subject to the
receipt of all required permits, including an exploitation permit, the delivery of a feasibility study; the continued advancement of an
early works program including camp construction the placement of purchase orders for critical-path equipment packages and the estimated
amount of that program; the estimated project economics for Diamba Sud as reflect in the PEA; 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; the Company&rsquo;s ability to comply with contractual and permitting or other regulatory requirements; and
approvals and other matters. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Forward-looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially
different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and
factors include, among others, operational risks associated with mining and mineral processing; uncertainty relating to Mineral Resource
and Mineral Reserve estimates; uncertainty relating to capital and operating costs, production schedules and economic returns; 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; laws and regulations regarding the protection of the environment (including greenhouse gas emission
reduction and other decarbonization requirements and the uncertainty surrounding the interpretation of omnibus Bill C-59 and the related
amendments to the Competition Act (Canada); 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 and Iran &ndash; Israel and United States 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 for the fiscal year ended December 31, 2025. Although the Company has attempted
to identify important factors that could cause actual actions, events, or results to differ materially from those described in Forward-looking
Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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 the economics of the Diamba Sud
PEA remain consistent; that </I>project costs and expenses will remain consistent; <I>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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Cautionary Note to United States Investors
Concerning Estimates of Reserves and Resources</U></I></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Appendix 2: PEA Key Highlights</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #4472C4">
    <TD STYLE="width: 55%; border: Black 1pt solid; padding-top: 3.95pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt; color: white"><B>Metrics</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 28%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3.95pt -15.2pt 6pt 0.2pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Units</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3.95pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt; color: white"><B>Results</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Gold price</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/oz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">2,750</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Life of mine</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.05pt; text-align: right"><FONT STYLE="font-size: 10pt">years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">8.1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 6pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Processing Duration</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Total mineralized material mined<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 35pt; text-align: right"><FONT STYLE="font-size: 10pt">kt</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">17.8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Contained gold in mineralized material mined<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.1pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">koz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.1pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">932</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Strip ratio</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">Waste: mineralized material</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">5.5:1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Throughput initial 3 years (primarily oxide)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">Mtpa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">2.5</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Throughput after 3 years (primarily fresh)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">Mtpa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">2.0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">LOM grade</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.1pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">g/t </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.1pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">1.63</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Recoveries</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">90</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Gold production</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.95pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Total Production over LOM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.95pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">koz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.95pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>840</B></FONT></TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average annual production over LOM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.1pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">koz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.1pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>106</B></FONT></TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average annual production over first 3 years </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.1pt; text-align: right"><FONT STYLE="font-size: 10pt">koz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>146</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.95pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Per unit costs LOM</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 29.75pt; text-align: left"><FONT STYLE="font-size: 10pt">Mining</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 28.9pt; text-align: right"><FONT STYLE="font-size: 10pt">$/t, mined</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">4.82</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 29.75pt; text-align: left"><FONT STYLE="font-size: 10pt">Processing</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 22.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/t, processed</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">13.9</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 29.75pt; text-align: left"><FONT STYLE="font-size: 10pt">G&amp;A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 22.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/t, processed</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">6.7</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.95pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Cash costs<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average operating cash costs<SUP>2</SUP>over LOM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/oz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">1,081</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average operating cash costs<SUP>2</SUP> over first 3 years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/oz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">759</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>AISC<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average AISC<SUP>2</SUP>over LOM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/oz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">1,238</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average AISC<SUP>2 </SUP>over first 3 years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">$/oz</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">904</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Capital costs</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Initial capital expenditure</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.1pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">$ M</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.1pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">283</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Sustaining capital expenditure + Infrastructure <I>(includes closure costs)</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">$ M</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">48</FONT></TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 6pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Returns</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.95pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>NPV5%, pre-tax </B><I>(100% Project basis)</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.95pt 34.45pt 6pt 0.2pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$ M</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.95pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>772</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">Pre-tax IRR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">86</FONT></TD></TR>
  <TR STYLE="background-color: #EBF0F1">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>NPV5%, after-tax </B><I>(100% Project basis)</I></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.2pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$ M</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.35pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>563</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.95pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">After-tax IRR</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.95pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.95pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">72</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt">After Tax Payback Period</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.05pt 34.45pt 6pt 0.15pt; text-align: right"><FONT STYLE="font-size: 10pt">years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.3pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">0.8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.1pt; padding-bottom: 6pt; padding-left: 13.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Annual EBITDA</B> <SUP>2</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average EBITDA<SUP>2</SUP> over LOM</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">$ M</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">167</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.05pt; padding-bottom: 6pt; padding-left: 21.7pt; text-align: left"><FONT STYLE="font-size: 10pt">Average EBITDA<SUP>2</SUP> over first 3 years</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 34.45pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">$ M</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.05pt; padding-right: 5.4pt; padding-bottom: 6pt; text-align: right"><FONT STYLE="font-size: 10pt">277</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The pit optimization shells used for the mine plan were generated using a gold price of $2,300 per ounce.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">This is a non-IFRS financial measure. The definition and purpose of this non-IFRS financial measure is
included in the Company&rsquo;s management&rsquo;s discussion and analysis for the year ended December 31, 2025, under the heading &ldquo;Non-IFRS
Financial Measures&rdquo;. Non-IFRS financial measures have no standardized meaning under IFRS and therefore, may not be comparable to
similar measures presented by other issuers.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Average operating cash costs and average AISC represent costs for projected production for the LOM at
the time of gold sales.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The PEA is presented on a 100 percent project basis. However, upon the granting of the exploitation permit,
the Senegalese Government is entitled to a 10 percent free-carried interest in Boya, with the right for the State to acquire an additional
contributory interest of up to 25 percent.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The economic analysis was carried out using a discounted cash flow approach on a pre-tax and after-tax
basis, based on the gold price of $2,750/oz.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">The IRR on total investment that is presented in the economic analysis was calculated assuming a 100%
ownership in Diamba Sud.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">The NPV was calculated from the after-tax cash flow generated by the Project, based on a discounted rate
of 5% and an effective date of October 10, 2025.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The PEA assumes that the percentage of certain royalties and taxes payable to the State, the percentage
of the investment tax credit available to the company and the percentage payable to the social development fund will be in accordance
with the provisions of the Mining Convention between Boya S.A. and the State of Senegal dated April 8, 2015. It should be noted, however,
that the State retains the sovereign prerogative to review or revisit certain fiscal terms during the exploitation permit approval process,
and as such, the current framework may be subject to amendment.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and, as
such, there is no certainty that the PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated
economic viability.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">Further information regarding the PEA, including details on key assumptions, parameters, opportunities,
risks and other factors are contained in the Technical Report prepared for the Company entitled &ldquo;Diamba Sud Gold Project, Kedougou
Region, Senegal&rdquo; with an effective date of October 15, 2025, which has been filed on SEDAR+ and on EDGAR under the Company&rsquo;s
profile.</TD></TR></TABLE>

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

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

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

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