Mr. Jorge Ganoza reports

FORTUNA REPORTS PROGRESS ON ITS SHARE BUYBACK PROGRAM

From Tuesday, Dec. 23, 2025, through Wednesday, Jan. 7, 2026, Fortuna Mining Corp. repurchased an aggregate of 1.7 million common shares on the open market of the New York Stock Exchange under its normal course issuer bid (NCIB). Shares were acquired at a weighted-average price of $10.01 per share for a total gross consideration of $17,019,894, excluding brokerage fees. All repurchased shares will be cancelled. To date, Fortuna has repurchased approximately 11 per cent of the 15,347,999 shares authorized under the NCIB (refer to Fortuna's news release dated April 30, 2025).

Fortuna's organic growth pipeline in West Africa continues to advance on multiple fronts. At Diamba Sud, early works are under way, with engineering and procurement activities progressing and ground broken for the new accommodation camp. Supported by the robust PEA (preliminary economic assessment) economics (refer to Fortuna's news release dated Oct. 15, 2025), the company is advancing a feasibility study targeted for the second quarter of 2026 and is progressing the following:

• Continuing the early works program to materially derisk the execution schedule ahead of full development;
• Securing approval of the environmental and social impact assessment (ESIA) in the first quarter of 2026;
• Applying for and receiving an exploitation permit before the expiry of the exploration permit in June, 2026, positioning Diamba Sud for a construction decision soon thereafter.

At Seguela, a processing plant expansion feasibility study is under way to evaluate options to support long-term production growth driven by continuing resource expansion, including the potential future incorporation of underground mineralization at the Sunbird deposit into the mine plan.

About Fortuna Mining Corp.

Fortuna Mining is a Canadian precious metals mining company with three operating mines and a portfolio of exploration projects in Argentina, Ivory Coast, Mexico and Peru as well as the Diamba Sud gold project in Senegal. Sustainability is at the core of Fortuna's operations and stakeholder relationships. Fortuna produces gold and silver while creating long-term shared value through efficient production, environmental stewardship and social responsibility.

We seek Safe Harbor.