Fortitude Gold Drills 3.05 Meters Grading 2.35 g/t Gold Within 7.62 Meters Grading 1.32 g/t Gold at Isabella Pearl Scarlet North

(Neutral)

Rhea-AI Summary

Fortitude Gold (OTCQB:FTCO) reported multiple wide, high-grade oxide gold drill intercepts from the Scarlet North target at its Isabella Pearl property in Mineral County, Nevada. Key results include 3.05 meters grading 2.35 g/t gold within 7.62 meters at 1.32 g/t, 3.05 meters at 2.37 g/t within 18.29 meters at 0.89 g/t, and 6.10 meters at 1.12 g/t within 21.34 meters at 0.66 g/t.

According to Fortitude Gold, these step-out holes extend mineralization north of Scarlet North, about 700 meters from the existing Isabella Pearl heap leach and processing facility. Initial test work indicates similar heap leach extractability to Isabella Pearl, and the company is completing baseline studies for potential open-pit mine permitting with BLM and NDEP.

Positive

High-grade intercepts at Scarlet North: up to 3.05 m at 2.37 g/t Au within 18.29 m at 0.89 g/t
Additional strong interval: 3.05 m at 2.35 g/t Au within 7.62 m at 1.32 g/t
Wide oxide mineralization: 21.34 m at 0.66 g/t Au including 6.10 m at 1.12 g/t
Proximity to existing infrastructure: Scarlet North located ~700 m from Isabella Pearl heap leach and processing facility

Negative

None.

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

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07/29/2026 - 04:10 PM

COLORADO SPRINGS, CO / ACCESS Newswire / July 29, 2026 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced multiple wide and high-grade gold drill intercepts from its Isabella Pearl property, located in Mineral County, Nevada. Scarlet North intercepts include 3.05 meters grading 2.35 grams per tonne (g/t) gold within 7.62 meters grading 1.32 g/t gold, 3.05 meters grading 1.23 g/t gold within 9.14 meters grading 0.71 g/t gold, 6.10 meters grading 1.12 g/t gold within 21.34 meters grading 0.66 g/t gold, and 3.05 meters grading 2.37 g/t gold within 18.29 meters grading 0.89 g/t gold. 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.

Isabella Pearl Scarlet North drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):

Hole# IPRC-764:

9.14 m of 0.71 g/t gold
including
- 3.05 m of 1.23 g/t gold

Hole# IPRC-772:

21.34 m of 0.66 g/t gold
including
- 6.10 m of 1.12 g/t gold

Hole# IPRC-774:

18.29 m of 0.89 g/t gold
including
- 3.05 m of 2.37 g/t gold

and

7.62 m of 1.32 g/t gold
including
- 3.05 m of 2.35 g/t gold

Drill results from Isabella Pearl were from the Scarlet North target located just 700 meters northwest of the Isabella Pearl heap leach and process facility. These high-grade oxide step-out drill results expand the mineralization at Scarlet North to the north and build on previously released drill results including 62.48 meters grading 0.73 g/t gold from surface. Initial test work at Scarlet North indicates similar extractability to the nearby Isabella Pearl deposit, whereby oxide gold ores are expected to be processed using a standard heap leach process. The proximity of this mineralization would allow for a short haul distance to Isabella Pearl's existing nearby processing facilities. Drilling at Scarlet North continues to identify surface and near surface gold mineralization. The Company is actively completing baseline studies required for permitting an open pit mine operation at Scarlet North with the Bureau of Land Management (BLM) and Nevada Division of Environmental Protection (NDEP).

"The results from holes IPRC-774 and IPRC-764 are especially significant for this program, as these results extend the mineralization to the north into another high-grade area," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "Intersecting multi-gram gold intervals show the larger potential of this hydrothermal system beyond what was previously understood. Follow up drilling to further expand and define this area is planned."

SCARLET NORTH, ISABELLA PEARL DRILL SUMMARY HIGHLIGHTS, JULY 2026
Hole #	Angle		From	Interval	Au
Hole #	deg		Meters	Meters	g/t
IPRC-754	-45		83.82	12.19	0.32
IPRC-758	-45		56.39	6.10	0.29
			70.10	4.57	0.69
		incl.	71.63	1.52	1.18
			94.49	6.10	0.31
IPRC-762	-40		7.62	6.10	0.31
IPRC-763	-90		12.19	3.05	0.30
IPRC-763	-90		33.53	6.10	0.30
IPRC-764	-45		19.81	9.14	0.71
IPRC-764	-45	incl.	24.38	3.05	1.23
IPRC-767	-45		7.62	1.52	0.78
			13.72	4.57	0.23
			21.34	3.05	0.28
			44.20	3.05	0.56
IPRC-768	-45		0.00	1.52	0.49
			15.24	1.52	0.36
			19.81	10.67	0.23
IPRC-770	-90		4.57	10.67	0.21
			27.43	6.10	0.40
			65.53	25.91	0.51
IPRC-771	-60		4.57	9.14	0.28
			27.43	6.10	0.40
			65.53	25.91	0.51
IPRC-772	-45		53.34	21.34	0.66
IPRC-772	-45	incl.	59.44	6.10	1.12
IPRC-773	-45		3.05	3.05	0.40
IPRC-774	-45		9.14	12.19	0.23
			24.38	18.29	0.89
		incl.	24.38	1.52	1.85
		incl.	30.48	3.05	2.37
			50.29	7.62	1.32
		incl.	50.29	3.05	2.35
Assays by American Assay Laboratories, Sparks, Nevada, USA. Meters downhole, not true width.

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 eight high-grade gold properties. Fortitude Gold owns 100% of its properties, with the exception of 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

What did Fortitude Gold (FTCO) announce about new drill results at Isabella Pearl Scarlet North on July 29, 2026?

Fortitude Gold reported multiple wide, high-grade oxide gold intercepts at Scarlet North. According to Fortitude Gold, key intervals include up to 3.05 meters grading 2.37 g/t gold within 18.29 meters grading 0.89 g/t, expanding known mineralization to the north.

What are the highest-grade gold intercepts reported at Scarlet North by Fortitude Gold (FTCO)?

The highest-grade intervals include 3.05 meters at 2.37 g/t gold and 3.05 meters at 2.35 g/t gold. According to Fortitude Gold, these occur within broader zones of 18.29 meters at 0.89 g/t and 7.62 meters at 1.32 g/t, respectively.

How close is the Scarlet North target to Fortitude Gold’s Isabella Pearl processing facilities (FTCO)?

Scarlet North is located about 700 meters northwest of the Isabella Pearl heap leach and process facility. According to Fortitude Gold, this proximity could allow short haul distances to existing infrastructure, potentially supporting future operational efficiency if mining proceeds.

What do the Scarlet North drill results mean for Fortitude Gold’s heap leach processing plans (FTCO)?

Initial test work indicates Scarlet North oxide ores have similar heap leach extractability to Isabella Pearl. According to Fortitude Gold, this suggests the mineralization could be processed using the existing standard heap leach process at nearby Isabella Pearl facilities, subject to permitting and development decisions.

Is Fortitude Gold (FTCO) advancing permitting for an open pit mine at Scarlet North?

Yes. Fortitude Gold is completing baseline studies required for permitting an open pit mine at Scarlet North. According to Fortitude Gold, these studies support applications with the Bureau of Land Management and the Nevada Division of Environmental Protection for potential future mine development.

Which Scarlet North drill holes showed the strongest gold mineralization for Fortitude Gold (FTCO)?

Notable results came from holes IPRC-764, IPRC-772, and IPRC-774. According to Fortitude Gold, these include intervals such as 21.34 meters at 0.66 g/t gold with 6.10 meters at 1.12 g/t, and 18.29 meters at 0.89 g/t with 3.05 meters at 2.37 g/t.