Positive Golden Mile Metallurgical Test Results

COLORADO SPRINGS, CO - Fortitude Gold Corp. reported positive metallurgical test results from its Golden Mile property with column leach tests reporting up to 85% gold recovery. These positive results move the property closer to a production decision. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada. Third party metallurgical test work at Golden Mile, including 60-day column leach tests, have returned up to 85% gold recovery. These positive gold recovery results confirm the Golden Mile mineralization is amenable to heap leach processing. With gold continuing to report to solution, the column leach test work is planned to continue out to 90 days. Material crush size tested included minus 9.5 mm and minus 37.5 mm which had similar gold recoveries, indicating the larger crush size of 37.5 mm (~1 ½ inch) is possible with the associated cost benefits of less crushing.

"With these excellent gold recovery results, we move the Golden Mile property closer to crossing the threshold of a production decision," said, CEO and President, Jason Reid. "Up to eighty-five percent gold extraction after 60 days under column leach and with the recovery curve continuing to demonstrate additional extraction is possible, we have checked the very important project due diligence box of metallurgy. Metallurgical gold extraction was one of two primary due diligence items remaining, the other being continuity of mineralization. One exploration drill is currently on-site, and another is being mobilized to the Golden Mile property as we prepare for an infill and step-out drill program to commence later this month. This exploration program targets additional mineralization and a resource that warrants a production decision. Numerous revisions to the Golden Mile project and process facility layout, open-pit design, environmental background studies and infrastructure evaluations are underway. Our goal is to complete our due diligence of this potential project as soon as possible, make a positive production decision, and turn Golden Mile into a gold mine. These excellent third-party metallurgical test results advance the Golden Mile property with another large step forward towards production."