06:19 AM EDT, 08/05/2025 (MT Newswires) -- Fortuna Mining ( FSM ) was at last look up 0.6% in US pre-market trading after reporting on Tuesday an updated Mineral Resource estimate as of July 7 for the Diamba Sud Gold Project in Senegal.

Among highlights of the Inpit Mineral Resource update, the company in a statement cited: Indicated Mineral Resource of 724,000 gold ounces, representing a 53% increase since year-end 2024; and Inferred Mineral Resource of 285,000 gold ounces, reflecting a 93% increase since year-end 2024; and Initial Inferred Mineral Resource estimates for the Southern Arc and Moungoundi deposits, containing 194,000 ounces and 31,000 ounces of gold, respectively.

It also said a Preliminary Economic Analysis (PEA) is underway, with completion targeted for the fourth quarter of 2025 and added that exploration drilling at Southern Arc continues focusing on: infilling drilling to upgrade Inferred Resources and expansion drilling where mineralization remains open at shallow depths to the south and east of the defined deposit limits.

FVI last traded on the TSX before the Canada holiday weekend down 1.3% at $8.82.