07:09 AM EDT, 03/12/2025 (MT Newswires) -- Fortuna Mining ( FSM ) on Wednesday provided updated mineral reserve and mineral resource estimates as of Dec. 31 for its four operating mines in West Africa and the Americas as well as the Arizaro project at the Lindero Mine in Argentina, the Diamba Sud gold project in Senegal and the San Jose mine in Mexico.

Consolidated inferred mineral resources are reported containing 2.2 million gold equivalent ounces, up 29% year-over-year.

Consolidated measured and indicated resources exclusive of mineral reserves are reported containing 1.5 million gold equivalent ounces, rising 36%.

The increase in mineral resources was attributed to infill drilling results and the discovery of new inferred resources amounting to 741,000 gold equivalent ounces, offset by the upgrading of resources to reserves.

Consolidated proven and probable mineral reserves are reported containing 2.7 million gold equivalent ounces, a decrease of 11%. The change was attributed to production-related depletion in 2024 of 526,000 gold equivalent ounces, offset by the upgrading of resources to reserves representing 204,000 gold equivalent ounces.

Fortuna's share price at last look lost 1.2% to US$5.02 in U.S. pre-market trading.