Fortitude Gold Reports Record Preliminary Q2 Production, Increases 2021 Gold Outlook

Rhea-AI Summary

Fortitude Gold Corp. (OTCQB:FTCO) announced a record preliminary production of 14,579 gold ounces for Q2 2021, a 26% increase from the previous quarter. The company has revised its 2021 production outlook to an upper range of 45,000 gold ounces, up from a prior forecast of 40,000 ounces. The increase is attributed to higher-grade ore access in the Pearl zone and ongoing operations in the Isabella zone. Full financial results will be disclosed in an upcoming 10-Q filing.

Positive

• Record Q2 production of 14,579 gold ounces, a 26% increase from Q1.
• Revised 2021 production outlook to 40,000-45,000 ounces, signaling strong operational performance.

Negative

• None.

COLORADO SPRINGS, CO / ACCESSWIRE / July 14, 2021 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announces record preliminary second quarter production results of 14,579 gold ounces. The Company also increases its 2021 production Outlook upper range to 45,000 gold ounces. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A.

Preliminary second quarter production totaled 14,579 gold ounces, an increase of 26% over the prior quarter. During the quarter the Company regularly accessed higher grade portions of the Pearl zone, while also continuing to mine the lower grade Isabella zone. Due to strong grades and operational performance during the first half of 2021, the Company is increasing its 2021 production Outlook range to 40,000 to 45,000 gold ounces, compared to the original 2021 range of 36,000 to 40,000 gold ounces. This represents a 12.5% increase to the upper production range.

Full financial results for the second quarter will be available at the time the Company files its quarterly report on Form 10-Q with the Securities and Exchange Commission.

To view a CEO interview regarding second quarter gold production and the 2021 production Outlook increase, click here or cut and paste https://youtu.be/u0-lWi2lRO8 into your web browser.

About Fortitude Gold Corp.:
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free and distribute substantial dividends. The Company's Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt, with the Isabella Pearl gold mine in current production. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.

Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements.

Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause future actual results to differ materially from those expressed or implied by any forward-looking statements. Also, there can be no assurance that production will continue at any specific rate.

CONTACT:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com

SOURCE: Fortitude Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/655275/Fortitude-Gold-Reports-Record-Preliminary-Q2-Production-Increases-2021-Gold-Outlook

FAQ

What were Fortitude Gold's Q2 2021 production results?

Fortitude Gold reported a record preliminary production of 14,579 gold ounces in Q2 2021.

What is Fortitude Gold's updated production outlook for 2021?

The company has increased its 2021 production outlook to an upper range of 45,000 gold ounces.

How much did Q2 production increase compared to the previous quarter?

Q2 production increased by 26% compared to the previous quarter.

What factors contributed to the increase in production for Fortitude Gold?

The increase was driven by accessing higher grade portions of the Pearl zone.

When will Fortitude Gold release full financial results for Q2 2021?

Full financial results will be available at the time of the Company's 10-Q filing.