• Strategic investment and partnership with WNDR of $8.6 million.
• Globally significant rutile-graphite resource declared at Mkanda.
• High-grade rutile product of +96% TiO2 produced.
• Key workstreams progressing including conceptual studies and marketing.
• Titanium Marketing Specialist appointed.

Fortuna Metals Limited (ASX: FUN) released its quarterly report for the three-month period ending 30 June 2026, highlighting significant advancements in its Mkanda project in Malawi. The company declared a globally significant rutile-graphite resource at Mkanda, ranking it among the top six rutile deposits globally. The maiden Inferred Mineral Resource Estimate (MRE) confirmed 298 million tonnes of contained rutile at a high grade of 0.87%. Additionally, the company produced a high-purity rutile product of +96% TiO2 from initial bulk metallurgical test work. Key workstreams, including conceptual and pilot plant studies, graphite test work, marketing, and resource drilling, are progressing. The company also appointed a Titanium Marketing Specialist and commissioned a laboratory to expedite assay turnaround times and reduce costs.

The company sees clear potential to grow the resource base, define higher-grade zones, and advance Mkanda as a scalable rutile-graphite development opportunity.