LINDERO GOLD MINE

Our Lindero Mine is in Salta, Argentina. The open-pit mine is operated by Mansfield Minera S.A., an Argentinian subsidiary 100% owned by Fortuna.

Fortuna acquired the fully permitted, shovel-ready development-stage project in July 2016. Over the next year, we optimized the Feasibility Study and made a positive construction decision in September 2017. Mass earth moving activities began in 2018, and the mine's first gold pour occurred on October 20, 2020.

The deposit is a gold porphyry, and, based on December 31, 2020 reserves, Lindero has a pit life of 12 years.

Crushing circuit at Lindero is designed to crush 18,750 tonnes of ore per day. The crushed ore is placed on a leach pad with the resulting pregnant solution pumped to SART (Sulphidisation, Acidification, Recycling and Thickening) and ADR (Adsorption – Desorption – Regeneration) plants before electrowinning and refining, where gold is poured as doré bars.

We recognize the role the Lindero Mine plays in the sustainable development in the Tolar Grande region. In 2020, we directly employed 48 community members and partnered with nine local suppliers from Tolar Grande, and employed 290 people and engaged with 186 suppliers from the province of Salta.

OPERATING HIGHLIGHTS

Notes

• Refer to Fortuna news releases dated January 19, 2021, “Fortuna reports 2020 full year production of 11.3 million silver equivalent ounces and issues 2021 guidance” and March 10, 2021, “Fortuna reports consolidated financial results for full year 2020”
• Refer to Cautionary Statement on non-GAAP financial measures | AISC ($/oz Ag Eq) includes production cash cost, commercial and government royalties, mining tax, worker’s participation, subsidiary G&A, sustaining capital expenditures, and Brownfields exploration | AISC ($/oz Ag Eq) was calculated using realized metal prices for 2019 (see audited financial statements for 2019), and realized metal prices for 2020 and assumes average metals prices of $1,800/oz Au, $22/oz Ag for 2021