Fortitude Gold Initiates Multiple Exploration Drill Programs

Rhea-AI Summary

Fortitude Gold (OTCQB:FTCO) has initiated three active exploration drill programs at East Camp Douglas, County Line, and Isabella Pearl. A $40 million joint venture with Hawthorne Land & Minerals funds East Camp Douglas drilling, and a $12 million private placement funds County Line and Isabella Pearl work.

East Camp Douglas is advancing an Environmental Assessment to allow disturbance of up to 125 acres; additional drill rigs are reserved for later in the year.

Positive

• $40 million joint venture committed to East Camp Douglas exploration
• $12 million private placement allocated to County Line and Isabella Pearl drilling
• EA permit scope could allow disturbance of up to 125 acres for exploration
• Multiple drill rigs reserved to accelerate program once EA is approved

Negative

• Drilling progress contingent on EA permit approval, currently pending
• Prior permit backlogs caused a long hiatus in drill activity

News Market Reaction – FTCO

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1 alert

+1.00% News Effect

On the day this news was published, FTCO gained 1.00%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

COLORADO SPRINGS, CO / ACCESS Newswire / April 2, 2026 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced it has three active drill programs at its East Camp Douglas, County Line and Isabella Pearl properties. 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.

The Company initiated exploration drilling at the East Camp Douglas property with funding from its recently announced $40 million Joint Venture with Hawthorne Land & Minerals LLC. The Joint Venture targets accelerated deposit discoveries as well as near term project and permitting advancements. Initial drill targets include areas covered under the two existing 5-acre Notice of Intent drill permits. The Company is advancing a Plan of Operation for Exploration through the completion of an Environmental Assessment ("EA"). This EA permit would allow the Company to disturb up to 125 acres. In addition to the current drill rig on site, multiple drill rigs have been reserved and scheduled for later in the year once the EA permit is approved.

The Company also began exploration drilling at the County Line and Isabella Pearl properties, utilizing a portion of the $12 million private placement announced in February of 2026. Drilling at the County Line property is actively targeting expansions to the East Pit and testing the Opalite Hill target located north of the County Line Main Pit. At Isabella Pearl, an additional drill is testing the Scarlet North area, which is located approximately 500 meters northwest of the heap leach pad at the Isabella Pearl property. Both the County Line and Isabella Pearl drill programs target mineralization expansion.

"We are pleased to announce that we have re-initiated our drill programs after the long hiatus due to capital conservation under the previous administration's permit backlogs," stated Fortitude Gold CEO and President, Mr. Jason Reid. "We are very excited to launch our aggressive two-year drill program at East Camp Douglas with a goal to advance this highly prospective property towards multiple potential deposit discoveries on our district size land position. It is also exciting to be drilling near our two new recently permitted mining operations, as we look to expand mineralization at both the County Line and Isabella Pearl properties."

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, Scarlet South, and County Line 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, 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.

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 on April 2, 2026 about its drill programs?

Fortitude Gold announced active drilling at East Camp Douglas, County Line, and Isabella Pearl on April 2, 2026. According to the company, the programs are funded by a $40 million joint venture and a $12 million private placement.

How is Fortitude Gold funding the East Camp Douglas drill program (FTCO)?

East Camp Douglas drilling is funded by a $40 million joint venture with Hawthorne Land & Minerals. According to the company, the JV targets accelerated discoveries and permitting progress at East Camp Douglas.

What permit progress did Fortitude Gold (FTCO) report for East Camp Douglas?

The company is advancing an Environmental Assessment that would allow disturbance of up to 125 acres. According to the company, additional rigs are scheduled once the EA permit is approved.

What are the County Line and Isabella Pearl drill targets for FTCO?

County Line drilling targets expansions to the East Pit and Opalite Hill; Isabella Pearl targets Scarlet North about 500 meters northwest of the heap leach pad. According to the company, both programs target mineralization expansion.

Does Fortitude Gold (FTCO) cite any obstacles to its drilling plans?

Yes. The company noted a prior long hiatus caused by permit backlogs, and current drilling is contingent on pending permit approvals. According to the company, permitting remains a key near-term constraint.