Fortuna Mining Corp. has announced significant progress in the permitting process for its Diamba Sud gold project located in Senegal. The company received a Notice of Admissibility for its Exploitation Permit application from Senegal’s Ministry of Mines and Geology on November 2, 2026. This milestone is crucial as it confirms that the application documentation meets all regulatory requirements, marking a significant step toward obtaining the final Exploitation Permit.

Jorge A. Ganoza, CEO and Director of Fortuna, expressed optimism about the company’s growth trajectory, stating, “Following our July final investment decision on the 30% plant expansion at our flagship Séguéla mine, and with Diamba Sud advancing through the final stages of permitting, we are progressing along a clear growth path.” Fortuna aims to increase its annual gold production by approximately 60% to reach an annualized rate of 500,000 ounces by mid-2028.

Fortuna Mining Corp. is a Canadian precious metals mining company known for its operations in Argentina, Côte d’Ivoire, and Peru, alongside the feasibility-stage Diamba Sud Gold Project in Senegal. The company operates under the SIC classification of Gold and Silver Ores (1040) and trades on the NYSE under the ticker FSM.

This recent filing, accession number 0001104659-26-121491, highlights Fortuna’s commitment to advancing its projects in a timely manner. The company has already received the environmental decree from Senegal’s Ministry of Environment and Ecological Transition, approving its Environmental and Social Impact Assessment earlier in June 2026.

The permitting process is expected to conclude with the government’s internal approval for the Exploitation Permit during the fourth quarter of 2026. Fortuna is also negotiating a new Mining Convention with the State of Senegal, which will establish a fiscal stability framework for the next ten years.

As Fortuna moves forward with construction planning and early works, the company is already undertaking critical steps to ensure the timely development of the Diamba Sud project. This includes assembling a construction team and selecting SENET as the project’s engineering, procurement, and construction management contractor.

Fortuna’s advancements may set a precedent for other companies in the gold and silver ores sector as they navigate similar regulatory hurdles. The successful acquisition of the Exploitation Permit will be pivotal for Fortuna, allowing the company to proceed with full-scale construction and ultimately, gold production.

Looking ahead, Fortuna plans to make a formal final investment decision upon receipt of the Exploitation Permit, subject to Board approval and other necessary authorizations. The company anticipates that this decision will facilitate the commencement of critical-path construction activities, including earthworks for the process plant and power station.

Overall, Fortuna Mining Corp.'s progress in advancing the Diamba Sud gold project is a significant development that could influence the broader gold and silver ores industry. As the company aims for increased production and operational efficiency, its steps forward may inspire similar initiatives among competitors in the mining sector.