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Fortuna Expands Mineral Reserve Gold Ounces by 31% and Extends Life of Mine to Over 9 Years at the Séguéla Mine, Côte d'Ivoire

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VANCOUVER, British Columbia, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX...

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AI Summary

Fortuna Mining Corp reported a significant increase in gold reserves at the Séguéla Mine, now totaling 1.54 million ounces. With a mine life extending over 9 years and ongoing expansion studies, the potential for increased production could positively impact future earnings and share prices.

Sentiment Rationale

The substantial increase in mineral reserves combined with planned expansions enhances profitability prospects, echoing past trends where such positive announcements led to stock appreciation.

Trading Thesis

Consider investing in FSM as the increased reserves and production potential may drive stock growth.

Market-Moving

  • Increased gold reserves signal potential revenue growth for FSM.
  • Upcoming processing capacity expansion may yield over 200,000 ounces annually.
  • Successful exploration outcomes could enhance mineral forecasts and share prices.
  • Q2 2026 timeline for processing expansion update could impact market sentiment.

Key Facts

  • Fortuna's Séguéla Mine has 1.54 million ounces in updated gold reserves.
  • Mine life exceeds 9 years; expansion study underway for increased production.
  • Mineral reserves reflect a 31% increase since last report in October 2025.
  • Exploration drilling indicates potential for further mineralization at Sunbird deposit.
  • Technical studies for processing expansion anticipated to complete by Q2 2026.

Companies Mentioned

  • Fortuna Mining Corp (FSM): Significant updates on gold reserves and production expansion.

Corporate Developments

This article falls under 'Corporate Developments' as it details Fortuna's resource increase and strategic plans for mine expansion, which are crucial for investors assessing the company's growth potential.

Fortuna Mining Corp. (FSM) Reports Significant Updates on Séguéla Mine Reserves

Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) has announced a major update regarding its Séguéla Mine in Côte d'Ivoire, showcasing a 31% increase in mineral reserves as of December 31, 2025. This announcement comes as the company reveals a total of 1.54 million ounces of gold in mineral reserves, bolstered by the inclusion of 401,000 ounces from the Sunbird underground deposit.

Key Highlights of the Mineral Reserve Update

  • Total mineral reserves increased to 16.0 million tonnes at an average grade of 3.01 g/t Au.
  • The mine life is projected to exceed 9 years at the current production rate of 1.75 million tonnes per annum.
  • A 23% increase in reserve tonnes was recorded between October 31 and December 31, 2025, alongside a 7% increase in average gold grade.
  • For the first time, underground mineral reserves at Sunbird are estimated at 3.5 million tonnes, containing 401,000 ounces of gold.
  • Further exploration drilling has confirmed open mineralization opportunities at various deposit sites.

Future Growth and Exploration Potential

Jorge A. Ganoza, President and CEO of Fortuna Mining, highlighted that the extended mine life at Séguéla aligns with their ongoing growth strategies. “Séguéla’s mine life now exceeds 9 years at current production rates, with strong potential for further growth,” he stated. Ganoza also mentioned the initiation of a processing plant expansion study aimed at boosting gold production to over 200,000 ounces annually.

Mineral Resource Estimates from Séguéla Mine

In tandem with increased reserves, updated mineral resource estimates show a promising outlook:

  • Measured and indicated resources total 5.155 million tonnes with an average gold grade of 2.78 g/t Au.
  • Inferred resources stand at 9.171 million tonnes, with an average grade of 2.50 g/t Au.
  • Additional estimates indicate significant mineralization at both open-pit and underground sites, which remain open for further exploration.

Technical Studies and Expansion Plans

Technical studies are currently underway to evaluate the optimal expansion of the processing plant. This anticipated expansion could enhance the mine's capacity by approximately 25%, aiming for an output range of 2.0 to 2.5 million tonnes per year. The completion of these studies is expected by Q2 2026, accompanying the updated geological resource models that will output exploration results from the second half of 2025.

Conclusion

Fortuna Mining Corp.'s robust updates regarding the Séguéla Mine's reserves and resources underline its potential for continued growth and productivity. With a strong commitment to exploration and development, the company aims to maximize its output and value in the gold mining sector, reinforcing the significance of FSM as a notable player in the market.

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