Globally Significant Rutile - Graphite Resource at Mkanda

• Mkanda ranks top 6 globally for rutile
• Inferred Mineral Resource: 298Mt @ 0.87% rutile
• High-grade rutile component: 159Mt @ 0.98% rutile
• Significant graphite resource: 3.55Mt @ 1.19% TGC
• Ongoing exploration to expand resource

Fortuna Metals Limited has announced the maiden Mineral Resource Estimate (MRE) for the Mkanda rutile and graphite project in Malawi. The MRE confirms Mkanda as a globally significant rutile-graphite resource with 298 million tonnes (Mt) at a cut-off grade of 0.87% rutile and 3.55Mt of contained graphite at 1.19% Total Graphitic Carbon (TGC). The resource is classified as Inferred, with potential for further growth. The company is conducting aircore drilling to test lateral extensions and mineralization at depth. Mkanda is open for resource growth, with assays expected in the second half of 2026. The project also has potential for zircon and monazite mineralization, which will be further assessed in the second half of 2026.