Aircore Drilling Completed

• 7,618m aircore drilling program completed
• Average depth of 22m for aircore drillholes
• Priority aircore results anticipated in November

Fortuna Metals Ltd has completed a 7,618m aircore drilling program at its Mkanda Project in Malawi, Africa. The program aims to increase the resource potential at depth, with an average depth of 22m for aircore drillholes, confirming potential for expanded mineral resource estimate past the 8m depth of hand auger. Priority samples are being expedited for analysis in Cape Town, with results anticipated in November. The company is also conducting bulk sample metallurgical characterisation, feed preparation, and gravity test work ahead of graphite flotation and metallurgical test work. Additionally, a QEMSCAN detailed mineralogy review of 86 samples is being sent to South Africa. The Mkanda project has demonstrated the potential for rutile and graphite mineralisation to extend over large areas across the project with further analysis efforts to be directed at potential rare earth mineralisation as a priority.