All Approvals Received For Scarlet South Open-Pit Gold Mine

COLORADO SPRINGS, CO – Fortitude Gold Corp. has received all approvals from the Bureau of Land Management and the Nevada Division of Environmental Protection to construct and operate the Scarlet South open-pit gold mine located on the Isabella Pearl Property in Mineral County, Nevada.

The Scarlet South open-pit project is located approximately 500 meters (0.3 miles) northwest of the operating Isabella Pearl Mine, heap leach pad and ADR processing plant. Mine operations are expected to begin at Scarlet South in the coming weeks. The Company plans to mine both the Pearl Deep and Scarlet South projects simultaneously, whereby mine equipment and teams can be cycled between the two projects for the greatest efficiency while sharing the same processing infrastructure. Scarlet South mineralization will be mined and trucked the short distance to Isabella Pearl facilities allowing for minimal capital expenditures and an expedited time frame to build the mine. Scarlet South is targeted to be the second open-pit gold mine on the Isabella Pearl property, which consists of a 10 kilometer (6.2 mile) mineralized trend with numerous additional exploration targets. Scarlet South now adds to the Company’s permitted mines which include the operating Isabella Pearl Mine and the newly permitted County Line Mine. All three mines are targeted to be in production during the first quarter of 2026.