Fortuna Mining Expands Séguéla Mine Reserves, Signals West African Growth

NEW YORK, NY – November 18, 2025

West African Gold Production on the Rise

Fortuna Mining Corp. is bolstering its presence in West Africa with a substantial 11% increase in proven and probable gold reserves at its Séguéla mine in Côte d'Ivoire. The updated estimate now stands at 1.2 million ounces, demonstrating the company’s success in expanding its resource base and extending the potential life of the mine. This increase, coupled with a significant rise in measured and indicated resources and inferred resources, positions Fortuna for continued growth within a region experiencing a surge in gold production.

Côte d'Ivoire, along with other West African nations like Ghana, Mali, and Burkina Faso, is rapidly becoming a key hub for gold mining. Experts suggest that nearly 20% of global gold output now originates from this region, with projections indicating over 10% growth in the coming years. “The geology is incredibly favorable,” notes an industry analyst. “West Africa offers a combination of accessible deposits and increasingly stable political landscapes, attracting significant investment.”

Expanding Reserves & Exploration Success

Fortuna’s growth at Séguéla isn’t simply a matter of luck. The company has actively pursued an aggressive exploration strategy that has yielded significant results. The latest reserve update includes the first-time estimation of reserves for the Kingfisher deposit, contributing 257,000 ounces of gold. Moreover, the Sunbird and Kingfisher deposits continue to demonstrate potential, with mineralization remaining open, suggesting further expansion opportunities.

The company’s commitment to exploration is evident in its ongoing studies for an underground mining operation at Sunbird, which could convert up to 502,000 ounces of indicated resources into reserves. “We’re not just focused on maximizing current production; we’re building a sustainable operation for the long term,” explains a company spokesperson. “This requires continuous investment in exploration and resource definition.”

This commitment is crucial, as depletion from mining activities in the first ten months of 2025 totaled 129,000 ounces of gold, underscoring the need for ongoing reserve replacement. Fortuna's ability to grow its resources despite active mining demonstrates the effectiveness of its exploration strategy.

Capacity Expansion and Future Growth

Fueled by this exploration success, Fortuna is now initiating studies for a 25% expansion of the Séguéla processing plant’s capacity, aiming to reach 2.0-2.5 million tonnes per year. This ambitious expansion signals the company’s confidence in the long-term potential of the mine and its commitment to maximizing gold production. “This expansion will not only increase our production capacity but also improve our cost efficiency,” says a source close to the company. “We are well-positioned to capitalize on the rising gold price and strong demand for gold.”

This expansion aligns with broader trends in the West African gold sector, where companies are actively investing in increased capacity to meet growing demand. West African Resources, for example, is undertaking significant expansion projects, such as the Kiaka project, to boost gold output.

However, navigating regional challenges is vital. “Securing reliable infrastructure, like power and water, is always a concern,” notes an analyst specializing in West African mining. “And maintaining strong relationships with local communities is essential for a smooth operation.”

Fortuna appears to be addressing these concerns by prioritizing sustainable mining practices and actively engaging with local stakeholders. The company’s commitment to environmental stewardship and social responsibility is increasingly important in a region where sustainability is becoming a key differentiator. “We recognize that our success is inextricably linked to the well-being of the communities where we operate,” says a company representative.

As Fortuna Mining Corp. continues to expand its operations in Côte d'Ivoire, its success will serve as an indicator of the broader potential for gold mining in West Africa, proving that the region's favorable geology and increasing investment are translating into significant growth for both companies and local economies.