Fortuna responds to recent media reports concerning Burkina Faso
08 October 2024 - 3:39AM
Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) today
shared an update on its operations at the Yaramoko Mine in Burkina
Faso.
On October 5, 2024, Burkina Faso’s President
Ibrahim Traoré made public comments regarding mining companies
operating in the country and the possible withdrawal of existing
mining permits. Fortuna has sought clarification from the country’s
Ministry of Mines on this point and has received confirmation that
the government has no plans to withdraw existing mining permits
which are in compliance with Burkina Faso’s laws. The Yaramoko Mine
is in compliance with all material laws and operations continue to
be conducted normally.
The Yaramoko Mine has been in operation since
2016 and reached the one-million-ounce gold pour milestone on May
19, 2024 (refer to Fortuna news release dated May 22, 2024,
“Fortuna’s Yaramoko Mine reaches one-million-ounce gold pour
milestone”). Yaramoko is expected to contribute approximately 25
percent of Fortuna’s gold equivalent ounces in 2024 (refer to
Fortuna news release dated January 18, 2024, “Fortuna reports
record 2023 production of 452 koz Au Eq and 2024 annual guidance of
457 to 497 koz Au Eq”).
About Fortuna Mining Corp.
Fortuna Mining Corp. is a Canadian precious
metals mining company with five operating mines in Argentina,
Burkina Faso, Côte d'Ivoire, Mexico, and Peru, as well as the
preliminary economic assessment stage Diamba Sud Gold Project
located in Senegal. Sustainability is integral to all our
operations and relationships. We produce gold and silver and
generate shared value over the long-term for our stakeholders
through efficient production, environmental protection, and social
responsibility. For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. Ganoza President, CEO, and
DirectorFortuna Mining Corp.
Investor Relations:
Carlos Baca | info@fmcmail.com | fortunamining.com
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Forward-looking Statements
This news release contains forward-looking
statements which constitute “forward-looking information” within
the meaning of applicable Canadian securities legislation and
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995 (collectively, “Forward-looking Statements”). All
statements included herein, other than statements of historical
fact, are Forward-looking Statements and are subject to a variety
of known and unknown risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the Forward-looking Statements. The Forward-looking Statements
in this news release may include, without limitation, statements
about the validity of the Company’s Yaramoko mining permit and its
production guidance at the Yaramoko Mine for 2024. Often, but not
always, these Forward-looking Statements can be identified by the
use of words such as “expected”, “estimated”, “potential”, “open”,
“future”, “assumed”, “projected”, “used”, “detailed”, “has been”,
“gain”, “planned”, “reflecting”, “will”, “anticipated”, “estimated”
“containing”, “remaining”, “to be”, or statements that events,
“could” or “should” occur or be achieved and similar expressions,
including negative variations.
Forward-looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any results, performance or achievements
expressed or implied by the Forward-looking Statements. Such
uncertainties and factors include, among others, operational risks
associated with mining and mineral processing; uncertainty relating
to Mineral Resource and Mineral Reserve estimates; uncertainty
relating to capital and operating costs, production schedules and
economic returns; uncertainty relating to nature and climate
conditions; risks associated with political instability and changes
to the regulations governing the Company’s business operations;
changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in
countries in which the Company does or may carry on business; risks
associated with war, hostilities or other conflicts, such as the
Ukrainian – Russian conflict and the Israel – Hamas war, and the
impacts such conflicts may have on global economic activity; risks
relating to the termination of the Company’s mining concessions in
certain circumstances; developing and maintaining relationships
with local communities and stakeholders; risks associated with
losing control of public perception as a result of social media and
other web-based applications; potential opposition to the Company’s
exploration, development and operational activities; risks related
to the Company’s ability to obtain adequate financing for planned
exploration and development activities; property title matters;
risks relating to the integration of businesses and assets acquired
by the Company; impairments; risks associated with climate change
legislation; reliance on key personnel; adequacy of insurance
coverage; operational safety and security risks; legal proceedings
and potential legal proceedings; uncertainties relating to general
economic conditions; risks relating to a global pandemic, which
could impact the Company’s business, operations, financial
condition and share price; competition; fluctuations in metal
prices; risks associated with entering into commodity forward and
option contracts for base metals production; fluctuations in
currency exchange rates and interest rates; tax audits and
reassessments; risks related to hedging; uncertainty relating to
concentrate treatment charges and transportation costs; sufficiency
of monies allotted by the Company for land reclamation; risks
associated with dependence upon information technology systems,
which are subject to disruption, damage, failure and risks with
implementation and integration; risks associated with climate
change legislation; labour relations issues; as well as those
factors discussed under “Risk Factors” in the Company’s Annual
Information Form. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
Forward-looking Statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended.
Forward-looking Statements contained herein are
based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to the accuracy of the
Company’s current Mineral Resource and Mineral Reserve estimates;
that the Company’s activities will be conducted in accordance with
the Company’s public statements and stated goals; that there will
be no material adverse change affecting the Company, its properties
or its production estimates (which assume accuracy of projected
head grade, mining rates, recovery timing, and recovery rate
estimates and may be impacted by unscheduled maintenance, labor and
contractor availability and other operating or technical
difficulties); the duration and effect of global and local
inflation; geo-political uncertainties on the Company’s production,
workforce, business, operations and financial condition; the
expected trends in mineral prices, inflation and currency exchange
rates that all required approvals and permits will be obtained for
the Company’s business and operations on acceptable terms; that
there will be no significant disruptions affecting the Company’s
operations and such other assumptions as set out herein.
Forward-looking Statements are made as of the date hereof and the
Company disclaims any obligation to update any Forward-looking
Statements, whether as a result of new information, future events
or results or otherwise, except as required by law. There can be no
assurance that these Forward-looking Statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
investors should not place undue reliance on Forward-looking
Statements.
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