Fortitude Gold Acquires Dreadnaught Property

The acquired land package carries no net smelter return royalty burden on future production.

Rhea-AI Summary

Fortitude Gold (FTCO) has acquired the Dreadnaught property through land staking, adding its ninth Nevada gold property to its portfolio. The company owns 100% of the property, comprising 65 contiguous unpatented mining claims covering 1,343 acres, with no net smelter return royalties on future production. Dreadnaught lies in the Hornsilver mining district within Nevada's Walker Lane Mineral Belt.

A company program collected 153 surface rock chip samples, returning gold grades as high as 17.18 grams per tonne. Available historical exploration data include mapping, a 741-sample soil survey, property-scale geophysical results and analytical data from 10 shallow drill holes. Fortitude Gold plans property-scale sampling and intends to combine field structural data with geophysical data to identify deeper structures and refine targets for potential mineralization.

Positive

• Minor point100% ownership of Dreadnaught adds 65 contiguous claims covering 1,343 acres through land staking.
• Minor point. Forward-looking: it has not happened yet and may not happen.No net smelter return royalties burden future production at Dreadnaught.
• Minor point153 surface rock chip samples returned gold grades as high as 17.18 grams per tonne.
• Minor pointHistorical exploration data provide mapping, soil and geophysical results, plus analytical data from 10 shallow drill holes.
• Minor point. Forward-looking: it has not happened yet and may not happen.Planned property-scale sampling and combined structural and geophysical analysis will target potential mineralization, the company said.

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

COLORADO SPRINGS, CO / ACCESS Newswire / October 1, 2026 / Fortitude Gold (OTCQB:FTCO) (the "Company") today announced it has acquired the Dreadnaught property, its ninth Nevada gold property. The Dreadnaught property is located in Nevada's Walker Lane Mineral Belt with surface gold as high as 17.18 grams per tonne. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield.

Fortitude Gold owns 100% of the Dreadnaught Property, which was acquired through staking Bureau of Land Management land. The property package includes 65 contiguous claims (1,343 acres) and is not subject to any Net Smelter Return royalties. The Dreadnaught Property is in the Hornsilver (Gold Point) mining district in Esmeralda County, Nevada, approximately 22 miles (35 km) south of Goldfield, Nevada and approximately 165 miles (266 km) northwest of Las Vegas, Nevada. The Company's exploration team compiled historic property information, monitored the property's availability, and was able to move quickly once the property became available.

Dreadnaught acquisition highlights include:

• 100% ownership with no underlying NSR burden
• 65 contiguous unpatented lode mining claims (1,343 acres)
• Company surface rock chip sample program returned gold grades as high as 17.18 grams per tonne
• Historic detailed structure, lithology, and alteration maps of the property
• Multi-element results from a historic 741-sample soil program collected on a 100m x 50m grid
• Historic Induced Polarization / Resistivity property-scale results
• Analytical data from 10 historic shallow reverse circulation drill holes

Historically, the land package was known as the Morningstar Project. The first known company to complete advanced exploration work in the project area was McMoran Gold Company in 1986. During this exploration campaign, McMoran Gold Company collected 93 surface rock chip and dump samples and completed 12 shallow rotary reverse-circulation drill holes. Fortitude Gold has the collar locations of these historic holes and analytical data from 10 of the 12 drill holes. These historic drill hole results will assist the Company with targeting future exploration programs. Between 2006 and 2008, Golden Odyssey Mining Inc. completed detailed property-scale mapping, a large-scale soil survey, and property-scale geophysics. The Company recently sampled 153 rock chips from surface within the claim block area returning gold grades as high as 17.18 grams per tonne.

The Dreadnaught property warranted acquisition for reasons including surface and near surface high-grade gold, the opportunity to obtain the property through staking, and the property's proximity to the Company's current operations in the Walker Lane Mineral Belt.

"The Dreadnaught Property area exhibits significant and widespread occurrences of hydrothermal alteration and gold mineralization," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "With multi-gram gold sampled on surface over a large area, the focus of future exploration will be to combine the structural data collected in the field with geophysical data to identify the deeper structures that acted as conduits for the mineralizing fluids. Building on the results of the initial surface sampling, a property-scale sampling campaign is planned. The resulting gold, multi-element geochemistry, and short-wave infrared (SWIR) alteration mineralogy can be utilized to further refine exploration vectors toward potential feeder zones."

"The Dreadnaught property not only fit all our acquisition criteria, but we also acquired the property 100% by inexpensive staking and with no Net Smelter Return burden on future production," stated Fortitude Gold's CEO and President, Mr. Jason Reid. "We analyze and turn down the vast majority of internally generated or inbound property opportunities, as they don't fit our strict criteria for acquisition. Dreadnaught has serious potential, and while we remain focused on building and permitting our next mines and more advanced properties, this property fits seamlessly into our exceptional pipeline of Nevada properties. We would have paid substantial money to a group marketing us this property, but it's a credit to Allan and his team to have identified, monitored, and move quickly on this exciting and accretive opportunity."

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 dividends. The Company's Nevada Mining Unit consists of nine high-grade gold properties. Fortitude Gold owns 100% of its properties, except for East Camp Douglas, which is held in a joint venture with Fortitude owning 60%. The Isabella Pearl Project, which includes the Isabella Pearl and Scarlet South mines, and County Line Project, which includes the County Line and East Pit Mines, are currently in production in Mineral and Nye Counties, Nevada. 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 and future plans for production. 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.

Contact:

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

SOURCE: Fortitude Gold Corp.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Fortitude Gold acquire at the Dreadnaught property?

Fortitude Gold acquired 100% ownership of Dreadnaught through staking Bureau of Land Management land. The property includes 65 contiguous unpatented mining claims covering 1,343 acres and carries no net smelter return royalties on future production.

What gold grades did Fortitude Gold report from Dreadnaught surface sampling?

Fortitude Gold collected 153 surface rock chip samples within the claim block, returning gold grades as high as 17.18 grams per tonne. These results concern surface samples, not reported production grades.

Why did Fortitude Gold acquire the Dreadnaught property?

Fortitude Gold cited surface and near-surface high-grade gold, the opportunity to acquire the property through staking, and proximity to its current operations in the Walker Lane Mineral Belt as reasons for the acquisition.