Multiple Intercepts Below The Isabella Pearl Open Pit

COLORADO SPRINGS, CO - Fortitude Gold Corp. reported multiple high-grade gold drill intercepts below the Isabella Pearl open pit. Oxide intercepts include 3.05 meters grading 15.15 grams per tonne gold (g/t) within 21.34 meters grading 7.21 g/t gold, and 18.29 meters grading 3.72 g/t gold. Non-oxide intercepts include 6.10 meters grading 12.17 g/t gold within 41.15 meters grading 6.25 g/t gold.

This drill program completed during the fourth quarter of 2022 was designed to test below the projected future Isabella Pearl open pit floor and walls testing for additional oxide ore and to further define mineable ore blocks. The program was also designed to better define the transition zone between oxide heap leachable ore and non-heap leachable mineral resources. Oxide and certain transitional gold ores at Isabella Pearl can be processed by using a standard heap leach process, while non-oxide gold ore requires a special milling process for gold extraction and is not currently part of the Company's business plan. Intercepts are being evaluated for possible inclusion into the updated mineral resource inventory.

"This drill program has given us a better understanding of the oxide and transitional ore blocks in the targeted bottom of the open pit that can be processed using our existing heap leach pad and recovery plant," said, Barry Devlin, Vice President of Exploration. "In addition, blocks of oxide and transitional mineralization have been identified below the targeted pit bottom and we are working to include a portion of this mineralization in the upcoming mineral resource update.”

”Oxide intercepts including twenty-one meters of over seven grams per tonne gold underscore what an amazing deposit the Isabella Pearl is," commented Jason Reid, CEO and President. "We look to get as much of this oxide and transitional material in the mine plan as possible which is likely to warrant a modification request to our permit to extend and mine the pit a few benches deeper. Though we do not have a current plan to mine nor the facilities to process the high-grade non-oxide gold ore at Isabella Pearl, it is exciting to see non-oxide intercepts including forty-one meters grading over six grams gold and consider future optionality for this material."