# Fortuna delivers robust Feasibility Study for the Diamba Sud Gold Project in Senegal: After-tax IRR of 60% and NPV5% of US$1 billion using US$3,500/oz Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7 Original source: https://money.tmx.com/en/quote/FVI/news/6868442313820613/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen Publisher: tmx Original announcement: 2026-06-29T21:15:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Fortuna Mining Corp. - Ticker: FVI - Exchange: TSX - Region: Senegal - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Production, Metallurgy - Extracted: 2026-09-12 03:19:15 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Fortuna Mining Corp. announced robust Feasibility Study results for its Diamba Sud Gold Project in Senegal, reporting an after-tax IRR of 60% and NPV5% of US$1 billion at a US$3,500/oz gold price. The study outlines a 9.4-year open-pit CIL gold mine with average annual gold production of 116,000 ounces and a low LOM AISC of $1,332/oz. The project benefits from a maiden Probable Mineral Reserve of 20.5 Mt at 1.75 g/t Au for 1.15 Moz, improved grades, and higher metallurgical recoveries compared to the previous PEA. Reasoning: The Feasibility Study for the Diamba Sud Gold Project demonstrates strong economic viability with high after-tax IRR and NPV, supported by a significant maiden Probable Mineral Reserve, improved production profile, and increased mine life. The study de-risks the project and positions it for a final investment decision, despite potential future changes in state ownership and mining convention terms. - Positive factor: Robust economics with high after-tax IRR \(60%\) and NPV5% \(US$1 billion\) - Positive factor: Maiden Probable Mineral Reserve of 1.15 Moz gold established at Feasibility Study level - Positive factor: Increased average annual gold production and longer mine life compared to previous PEA - Positive factor: Improved average feed grade and metallurgical recovery from previous PEA - Positive factor: NI 43-101 compliant Feasibility Study with QP/CP sign-off - Positive factor: Early works advancing to de-risk development schedule - Negative factor: State of Senegal holds a 10% free-carried interest and has an option for an additional 25% contributory interest, potentially impacting future ownership and returns - Negative factor: Provisions of the Mining Convention are subject to renegotiation during the exploitation permit approval process Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 28 ## Classification and evidence **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The Feasibility Study establishes a maiden Probable Mineral Reserve of 20.5 Mt at 1.75 g/t Au for 1.15 Moz gold. Evidence · text > The Probable Mineral Reserves total 20.5 million tonnes averaging 1.75 g/t Au, containing 1.15 million ounces of gold. **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Feasibility Study reports Indicated Mineral Resources of 3.36 Mt at 1.12 g/t Au for 121 koz gold. Evidence · table > 1.12 Context: 3,364 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Feasibility Study reports Inferred Mineral Resources of 1.63 Mt at 1.30 g/t Au for 68 koz gold. Evidence · table > 1.30 Context: 1,632 **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: Material growth in the Indicated Mineral Resource category supports conversion to Probable Mineral Reserves. Evidence · text > Material growth in the Indicated Mineral Resource category supports conversion to Probable Mineral Reserves, establishing a stronger foundation for the FS mine plan. **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Average annual gold production increased from 106,000 ounces per year in the PEA to 116,000 ounces per year in the FS, and project life increased from 8.1 years to 9.4 years. Evidence · text > Higher production profile: Average annual gold production increases from 106,000 ounces per year in the PEA to 116,000 ounces per year in the FS, including average production of 158,000 ounces per year over the first four years compared with 147,000 ounces per year over the first three years in the PEA. Longer mine life: Project life increases from 8.1 years in the PEA to 9.4 years in the FS, supporting an extended production and cash-flow profile. **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: Average feed grade increased from 1.63 g/t Au in the PEA to 1.75 g/t Au in the FS. Evidence · text > Improved grade profile: Average feed grade increases from 1.63 g/t Au in the PEA to 1.75 g/t Au in the FS. **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The maiden Probable Mineral Reserve contains 1.15 million ounces of gold, representing significant growth in contained metal compared to previous estimates. Evidence · text > The Probable Mineral Reserves total 20.5 million tonnes averaging 1.75 g/t Au, containing 1.15 million ounces of gold. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Raul Espinoza and Eric Chapman are named as Qualified Persons responsible for Mineral Reserves and Mineral Resources, respectively. Evidence · text > Eric Chapman is the Qualified Person responsible for Mineral Resources, and is a full-time employee of Fortuna, Raul Espinoza is the Qualified Person responsible for Mineral Reserves, and is a full-time employee of Fortuna. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Detailed incremental gold cutoff grades are disclosed for both Mineral Reserves and Mineral Resources, varying by deposit and material type. Evidence · text > Mineral Reserves for the Diamba Sud Project are reported at the point of delivery to the process plant on a 100% ownership basis and have been estimated using incremental gold cutoff grades for open-pit oxide and transitional material as follows: 0.38 g/t Au for Area A, Moungoundi, and Western Splay; 0.37 g/t Au for Kassasoko and Southern Arc; 0.36 g/t Au for Karakara; and 0.35 g/t Au for Area D. For fresh material, the applied cut-off grades are 0.40 g/t Au for Karakara and Kassasoko, 0.42 g/t Au for Area A, 0.43 g/t Au for Southern Arc, 0.45 g/t Au for Moungoundi, 0.46 g/t Au for Area D, and 0.49 g/t Au for the Western Splay deposit. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Feasibility Study and supporting technical report are prepared in accordance with National Instrument 43-101. Evidence · text > A technical report supporting the results of the FS will be prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The document presents a Feasibility Study, which is a detailed engineering study to support a development decision. Evidence · text > Fortuna delivers robust Feasibility Study for the Diamba Sud Gold Project in Senegal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The LOM metallurgical recovery of 91% for gold via conventional CIL is strong. Evidence · table > 91% Context: Recovery **Recovery Improving** Polarity: positive Definition: Recovery improved versus a like-for-like prior test program on the same domain and route. Why it applies: Metallurgical recoveries increased from 90% in the PEA to 91% in the FS. Evidence · text > Improved metallurgical performance: Metallurgical recoveries increased from 90% in the PEA to 91% in the FS. **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: Metallurgical recoveries have been estimated using grade–recovery relationship models developed for oxide and transitional material across all deposits, with deposit-specific recovery models applied to fresh rock across the seven deposits. Evidence · text > Metallurgical recoveries have been estimated using grade–recovery relationship models developed for oxide and transitional material across all deposits, with deposit-specific recovery models applied to fresh rock across the seven deposits. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing facility is described as a conventional carbon-in-leach \(CIL\) plant. Evidence · text > open-pit conventional carbon-in-leach \(“CIL”\) gold mine **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: The CIL plant design incorporates gravity recovery. Evidence · text > processing through a conventional CIL plant designed to produce gold doré, incorporating crushing, milling, gravity recovery, CIL processing, carbon elution, and gold recovery. ## Extracted facts Stored fact records: 28. Some facts used in scoring do not have a stored record. ## Resource Estimates (27) ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-0) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:1266104e06fff6b1c928 - Deposit or zone: Area A - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4136000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 211 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Probable Mineral Reserve for Area A contributes significantly to the overall project economics and is reported at a high confidence level. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.59 Context: 4,136 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-1) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:67b4cb3706920446532f - Deposit or zone: Area D - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 5103000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 279000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Probable Mineral Reserve for Area D is a substantial component of the project's overall reserve base, reported at a high confidence level. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.70 Context: 5,103 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-2) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:ff37f176df103196f036 - Deposit or zone: Karakara - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 2859000 - Grade: 1.87 - Grade Unit: g/t - Contained Metal: 172000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The Probable Mineral Reserve for Karakara contributes high-grade material to the project's reserve profile, reported at a high confidence level. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.87 Context: 2,859 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-3) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:afbddc58bdc43ed857f3 - Deposit or zone: Kassasoko - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1164000 - Grade: 0.96 - Grade Unit: g/t - Contained Metal: 36000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Probable Mineral Reserve for Kassasoko adds to the overall reserve base, though with a lower grade compared to other deposits. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.96 Context: 1,164 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-4) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:a598a6253b3a6bc6b841 - Deposit or zone: Moungoundi - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1069000 - Grade: 1.1 - Grade Unit: g/t - Contained Metal: 38000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Probable Mineral Reserve for Moungoundi contributes to the project's reserve base, reported at a high confidence level. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.10 Context: 1,069 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-5) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:c38783ea29550f239595 - Deposit or zone: Southern Arc - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4464000 - Grade: 2.31 - Grade Unit: g/t - Contained Metal: 332000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The high-grade Probable Mineral Reserve for Southern Arc is a key contributor to the project's robust economics and overall contained gold, reported at a high confidence level. - Positive factor: High-grade Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Positive factor: Provides significant contained gold to the project Evidence · table > 2.31 Context: 4,464 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-6) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:04c2306e0d8c2aa74291 - Deposit or zone: Western Splay - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1706000 - Grade: 1.51 - Grade Unit: g/t - Contained Metal: 83000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Probable Mineral Reserve for Western Splay contributes to the project's reserve base, reported at a high confidence level. - Positive factor: Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.51 Context: 1,706 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-7) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:f50ed30c3dd1c0810ac6 - Deposit or zone: Total - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 20500000 - Grade: 1.75 - Grade Unit: g/t - Contained Metal: 1151000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The maiden Probable Mineral Reserve of 20.5 Mt at 1.75 g/t Au for 1.15 Moz gold provides a strong foundation for the project's robust Feasibility Study economics and is compliant with NI 43-101 standards. - Positive factor: Maiden Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Positive factor: Supports robust Feasibility Study economics - Negative factor: State of Senegal has 10% free-carried interest and option for additional 25% contributory interest Evidence · table > 1.75 Context: 20,500 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-8) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:6d87abff967d1794ad53 - Deposit or zone: Area A - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 288000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Area A provides a base for future reserve conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.50 Context: 288 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-9) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:9f19241060812890af82 - Deposit or zone: Area D - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 436000 - Grade: 0.53 - Grade Unit: g/t - Contained Metal: 8000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Area D contributes to the project's resource base for future conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.53 Context: 436 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-10) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:b29bede0089f836559da - Deposit or zone: Karakara - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 221000 - Grade: 0.61 - Grade Unit: g/t - Contained Metal: 4000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Karakara adds to the project's resource base for future conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.61 Context: 221 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-11) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:434239a921aa62cff582 - Deposit or zone: Kassasoko - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 206000 - Grade: 0.49 - Grade Unit: g/t - Contained Metal: 3000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Kassasoko contributes to the project's resource base for future conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.49 Context: 206 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-12) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:4002e2246ba0ccd18e42 - Deposit or zone: Moungoundi - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 279000 - Grade: 0.75 - Grade Unit: g/t - Contained Metal: 7000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Moungoundi adds to the project's resource base for future conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.75 Context: 279 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-13) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:94b3d0e3ce3e463ca135 - Deposit or zone: Southern Arc - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1701000 - Grade: 1.62 - Grade Unit: g/t - Contained Metal: 89000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This higher-grade Indicated Mineral Resource for Southern Arc is a significant component for future reserve conversion, reported at a good confidence level. - Positive factor: Higher-grade Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.62 Context: 1,701 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-14) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:60591a6bdb6993a0911d - Deposit or zone: Western Splay - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 233000 - Grade: 0.74 - Grade Unit: g/t - Contained Metal: 6000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Indicated Mineral Resource for Western Splay contributes to the project's resource base for future conversion, reported at a good confidence level. - Positive factor: Indicated Mineral Resources support future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 0.74 Context: 233 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-15) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:8f3e8a52058e659a9d73 - Deposit or zone: Total - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3364000 - Grade: 1.12 - Grade Unit: g/t - Contained Metal: 121000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The total Indicated Mineral Resource of 3.36 Mt at 1.12 g/t Au for 121 koz gold provides a strong base for future reserve conversion and is compliant with NI 43-101 standards. - Positive factor: Total Indicated Mineral Resources provide a strong base for future reserve conversion - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 1.12 Context: 3,364 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-16) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:ebb4197ad971bdb617f9 - Deposit or zone: Area A - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 152000 - Grade: 1.45 - Grade Unit: g/t - Contained Metal: 7 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area A represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.45 Context: 152 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-17) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:10266d251b6020019d92 - Deposit or zone: Area D - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 264000 - Grade: 0.95 - Grade Unit: g/t - Contained Metal: 8000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area D represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 0.95 Context: 264 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-18) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:1f1ca01819a67c5a9d4c - Deposit or zone: Karakara - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 26000 - Grade: 1.47 - Grade Unit: g/t - Contained Metal: 1000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Karakara represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.47 Context: 26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-19) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:404751c03f7044368586 - Deposit or zone: Kassasoko - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 138000 - Grade: 0.86 - Grade Unit: g/t - Contained Metal: 4000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Kassasoko represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 0.86 Context: 138 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-20) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:d26bdc33d78d0f680799 - Deposit or zone: Moungoundi - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 107000 - Grade: 1.09 - Grade Unit: g/t - Contained Metal: 4000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Moungoundi represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.09 Context: 107 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-21) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:c1e47c4dc0b4276effbc - Deposit or zone: Southern Arc - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 734000 - Grade: 1.42 - Grade Unit: g/t - Contained Metal: 33000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Southern Arc represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.42 Context: 734 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-22) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:7a03004bb787267f4bce - Deposit or zone: Western Splay - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 211000 - Grade: 1.64 - Grade Unit: g/t - Contained Metal: 11000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Western Splay represents exploration upside but has lower confidence. - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.64 Context: 211 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-23) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:974ee88c26b7c6faa25d - Deposit or zone: Total - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1632000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 68000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The total Inferred Mineral Resource of 1.63 Mt at 1.30 g/t Au for 68 koz gold represents exploration upside but has lower confidence than other categories. - Positive factor: Total Inferred Mineral Resources provide exploration upside for future growth - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.30 Context: 1,632 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-25) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:6d24469db99f154da9c3 - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 20500000 - Grade: 1.75 - Grade Unit: g/t - Contained Metal: 1151 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The maiden Probable Mineral Reserve of 20.5 Mt at 1.75 g/t Au for 1.15 Moz gold provides a strong foundation for the project's robust Feasibility Study economics and is compliant with NI 43-101 standards. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Probable Mineral Reserve established at FS level - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Positive factor: Supports robust Feasibility Study economics - Negative factor: State of Senegal has 10% free-carried interest and option for additional 25% contributory interest Evidence · table > 1.75 Context: 20,500 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-26) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:9bae0aa39d0efffa9368 - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3364000 - Grade: 1.12 - Grade Unit: g/t - Contained Metal: 121 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area A represents exploration upside but has lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Inferred Mineral Resources provide exploration upside - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.12 Context: 3,364 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-resource-facts-27) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Raul Espinoza, Eric Chapman - Resource group id: resource:ca10095970d12cfebdb3 - Mining method: open\_pit - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1632000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 68 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-04-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The total Inferred Mineral Resource of 1.63 Mt at 1.30 g/t Au for 68 koz gold represents exploration upside but has lower confidence than other categories. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Total Inferred Mineral Resources provide exploration upside for future growth - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.30 Context: 1,632 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/fortuna-delivers-robust-feasibility-study-for-the-diamba-sud-gold-project-in-sen--784255d5-d641-4c2d-a4b3-2bd1c83f99f7#fact-metallurgical-facts-24) Diamba Sud Gold Project · gold #### Identity - Project: Diamba Sud Gold Project - Commodity: gold - Region: senegal - Reported Region: Senegal - Ticker: FVI #### Test Work - Program Status: detailed - Processing Route: conventional CIL #### Recovery - Recovery: 91 % - Recovery Basis: actual\_test - Head Grade: 1.75 - Head Grade Unit: g/t #### Lab - Consultant: Lycopodium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The average LOM metallurgical recovery of 91% for gold via conventional CIL is strong and represents an improvement from the previous PEA, indicating robust processing performance. - Positive factor: High metallurgical recovery for CIL process - Positive factor: Recovery improved from previous PEA - Positive factor: Multi-domain variability tested Evidence · table > 91% Context: Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.