Gold production hit 63,600 ounces, led by Séguéla’s impressive 42,000+ oz contribution and Lindero adding 21,500 oz.

Caylloma rounded out the quarter with ~257,600 oz silver plus meaningful base-metal output (8.2 million lbs lead and 11.5 million lbs zinc).

This performance marks a healthy sequential step-up from Q4 2025’s ongoing-ops run rate and keeps the company firmly on track for full-year guidance.

After divesting the San Jose and Yaramoko mines in 2025, Fortuna’s focused asset base delivered 317,001 GEO for the full year – right in line with expectations.

The shift to higher-margin gold assets is paying off: Séguéla continues to impress with reserve growth, while the balance sheet remains rock-solid with over $380 million in net cash at year-end 2025 and $20 million returned to shareholders via buybacks in Q1 alone.

Looking ahead, management reiterated 2026 guidance of 281,000–305,000 GEO at an attractive AISC of $1,830–$1,975/GEO.
Growth catalysts are already in motion: a feasibility study for Séguéla plant expansion is slated for Q2 (targeting 15–40% throughput uplift), and the Diamba Sud project in Senegal saw indicated resources jump 73% to 1.25 Moz gold – with a construction decision expected mid-year.

A $55 million exploration budget underscores confidence in extending mine lives and unlocking new ounces.

Fortuna is executing cleanly in a gold-friendly macro environment, trading like a disciplined mid-tier producer with clear upside from both operations and development projects.

Solid Q1 sets the tone for what could be a strong 2026.

Investors watching FSM should keep an eye on mid-year updates from Diamba Sud and Séguéla.

(Full details in today’s investor presentation: https://fortunamining.com/wp-content/uploads/2026/04/2026_04_09.pdf)