Fortuna reacts to current media reports about Burkina

VANCOUVER, British Columbia, Oct. 7, 2024 (GLOBE NEWSWIRE) — Fortuna Mining Corp. (NYSE:FSM | TSX:FVI) today announced an update on its operations at the Yaramoko mine in Burkina Faso.

On October 5, 2024, Burkina Faso’s President Ibrahim Traoré publicly commented on mining companies operating in the country and the possible revocation of existing mining permits. Fortuna has sought clarification from the country’s Ministry of Mines on this point and received confirmation that the government has no plans to revoke existing mining permits that are in line with Burkina Faso’s laws. The Yaramoko Mine is in compliance with all essential laws and operations continue to operate normally.

The Yaramoko Mine has been in operation since 2016 and reached the one million ounce gold milestone on May 19, 2024 (see Fortuna press release dated May 22, 2024, “Fortuna’s Yaramoko Mine Reaches Milestone of One Million Ounces of Gold Casting“). Yaramoko is expected to contribute approximately 25 percent of Fortuna’s gold equivalent ounces in 2024 (see Fortuna press release dated January 18, 2024, “Fortuna reports record production of 452,000 ounces AuEq. for 2023 and an annual forecast for 2024 of 457,000 to 497,000 ounces AuEq“).

About Fortuna Mining Corp.

Fortuna Mining Corp. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Ivory Coast, Mexico and Peru, as well as the Diamba Sud gold project in Senegal, which is in the preliminary economic assessment phase. Sustainability is an integral part of all our business operations and relationships. We produce gold and silver and create long-term shared values ​​for our stakeholders through efficient production, environmental protection and social responsibility. For more information please visit our website.

ON BEHALF OF THE BOARD OF DIRECTORS

Jorge A. Ganoza
President, CEO and Director
Fortuna Mining Corp.

Investor relations:
Carlos Baca | [email protected] | fortunamining.com | X | LinkedIn | YouTube

Forward-Looking Statements

This press release contains forward-looking statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). All statements contained herein, other than statements of historical fact, are forward-looking statements and are subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements . Forward-looking statements in this press release may include, among other things, statements regarding the validity of the Company’s Yaramoko mining permit and its 2024 production guidance for the Yaramoko Mine. Often, but not always, these forward-looking statements can be identified by the use of words such as “expected,” “estimated,” “potential,” “open,” “future,” “anticipated,” “projected,” “expected,” “detailed”, “been”, “profit”. “,” “planned,” “reflected,” “will,” “expected,” “estimated,” “including,” “remaining,” “be,” or statements that events “could” or “should” occur or be achieved. . and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These uncertainties and factors include, but are not limited to, operational risks associated with mining and mineral processing; uncertainty regarding mineral resource and mineral reserve estimates; uncertainty regarding capital and operating costs, production schedules and economic returns; uncertainty regarding nature and climatic conditions; risks related to political instability and changes in regulations governing the Company’s operations; changes in national and local government laws, taxes, controls, regulations and political or economic developments in countries in which the Company does or may do business; risks associated with war, hostilities or other conflicts, such as the Ukraine-Russia conflict and the Israel-Hamas war, and the impact of such conflicts on global economic activity; risks associated with the termination of the Company’s mining concessions in certain circumstances; Building and maintaining relationships with local communities and stakeholders; risks associated with loss of control over public perception through social media and other web-based applications; potential opposition to the Company’s exploration, development and operating activities; risks related to the Company’s ability to obtain adequate financing for planned exploration and development activities; property title matters; risks associated with the integration of the businesses and assets acquired by the Company; impairments; risks related to climate change legislation; dependence on key personnel; adequacy of insurance coverage; operational safety risks; litigation and potential litigation; uncertainties related to general economic conditions; risks related to a global pandemic, which could affect the Company’s business, operations, financial condition and stock price; Competition; fluctuations in metal prices; risks associated with entering into commodity futures and options contracts for the production of base metals; fluctuations in exchange rates and interest rates; tax audits and reassessments; risks associated with hedging; uncertainty regarding concentrate treatment costs and transportation costs; sufficient funds provided by the company for land reclamation; risks associated with reliance on information technology systems, which are subject to disruption, damage, failure and implementation and integration risks; risks related to climate change legislation; industrial relations issues; and the factors discussed under “Risk Factors” in the Company’s Annual Information Form. 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 could cause actions, events or results from those expected, estimated or intended to deviate.

The forward-looking statements contained herein are based on management’s assumptions, beliefs, expectations and opinions, including, but not limited to, the accuracy of the Company’s current mineral resource and mineral reserve estimates; that the Company’s activities are conducted in accordance with the Company’s public statements and stated objectives; that there will be no material adverse changes affecting the Company, its properties or its production estimates (which assume the accuracy of the forecast grade, mining rates, recovery timing and recovery rate estimates and through unscheduled maintenance, labor and contractor availability). can be influenced). other operational or technical difficulties); the duration and impact of global and local inflation; geopolitical uncertainties relating to the Company’s production, workforce, business, operations and financial condition; the expected trends in mineral prices, inflation and foreign exchange rates, that all necessary approvals and permits for the Company’s business and operations will be obtained on acceptable terms; that there will be no material disruptions affecting the Company’s operations and other assumptions set forth 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.