Fuerte Partners With G Mining Services & WSP for Coffee Gold Project Studies, Engineering and Mine Construction

Rhea-AI Summary

Fuerte Metals (OTCQB: FUEMF) has engaged G Mining Services (GMS) to deliver a Feasibility Study (FS), preliminary engineering for critical-path items, and to lead eventual mine construction for the 100% owned Coffee Gold project in Yukon.

WSP will lead a parallel Preliminary Economic Assessment (PEA) from its Whitehorse office. The PEA is expected in Q1 2026 and the FS in Q4 2026; a production/construction decision could be made as early as Q1 2027. GMS and Fuerte signed a Memorandum of Understanding for construction leadership, subject to a positive construction decision and remaining permits.

Positive

• PEA scheduled for Q1 2026
• FS scheduled for Q4 2026
• 100% ownership of Coffee Gold project
• GMS MOU to lead construction, providing execution expertise
• WSP local presence in Whitehorse managing the PEA

Negative

• Construction dependent on a positive decision and remaining permits
• Project finance needed — FS will only form the basis for financing discussions

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Fuerte Metals Corporation (TSXV: FMT) (OTCQB: FUEMF) ("Fuerte" or the "Company") is pleased to announce a partnership with G Mining Services ("GMS") to produce a Feasibility Study ("FS"), perform preliminary engineering for critical-path items, and lead the eventual mine construction for its 100%-owned Coffee Gold project in Canada's Yukon Territory. Fuerte has also engaged WSP to complete a Preliminary Economic Assessment ("PEA") for the project. The PEA and FS studies will run in parallel, with the PEA providing a first look at the project design underpinning the value of the project with completion of the study anticipated in Q1 of 2026. The FS, anticipated in Q4 2026, will present a well defined economic and technical analysis that will form the basis for a production decision that could be made as early as Q1 of 2027. Fuerte's project team will coordinate with GMS and WSP to ensure alignment between the two studies.

Tim Warman, President and CEO of Fuerte, commented, "We are extremely pleased to be working with GMS and WSP as we advance the Coffee Gold project towards a construction decision in 2027. We intend to leverage the extensive drilling, test work and engineering that was carried out by previous project owners as we work to complete the PEA in short order. The subsequent FS led by GMS will form the basis for project finance discussions and their scope of work also includes required engineering to support procurement of long-lead and critical path items as well as construction supervision for an extensive program of permitted advanced exploration activities at site, and for the Northern Access Route once permits are in hand. Fuerte and GMS have also signed a Memorandum of Understanding for GMS to lead the eventual mine construction, subject to a positive construction decision and the receipt of the remaining permits. GMS has a stellar reputation in the mining industry, and we are confident they are the right partner to help us achieve a successful outcome for the Coffee Gold project, with a strong focus on safety and environmental protection."

Mathieu Gignac, President of G Mining, commented, "Since 2014, GMS has been in continuous construction of successful mining projects. Our team has pioneered and fine-tuned the Integrated Project Management approach to deliver responsible projects that create value for shareholders and stakeholders. We are thrilled to mobilize to the Yukon to join the Fuerte Metals project team that is responsible for delivering the Coffee Gold Project. We remain committed to safety, collaboration, and project execution excellence, ensuring that we contribute to the success of the project and of the communities we work with."

GMS was founded in 2006 and has grown into a renowned mine development firm specializing in both underground and open-pit precious and base metal projects. The company offers a comprehensive suite of services across all mining disciplines, as well as the industrial construction expertise required to develop and support successful mining operations. With extensive project experience in Canada and internationally, GMS has built a strong track record of delivering fit-for-purpose projects safely, on or under budget, and on or ahead of schedule. Notable achievements include the successful construction of Lundin Gold's Fruta del Norte Project in Ecuador; delivering Newmont Mining's Merian Mine in Suriname below budget and ahead of schedule; overseeing project construction of the Greenstone Project in Ontario; and partnering with G Mining Ventures to successfully build the Tocantinzinho Mine in Brazil. GMS continues to expand its portfolio with its current involvement in the Oko West Project in Guyana and the McIlvenna Bay Project in northern Saskatchewan.

WSP is one of the world's leading professional services firms, uniting its engineering, advisory and science-based expertise to shape communities to advance humanity. From local beginnings to a globe-spanning presence today, WSP operates in over 50 countries and employs approximately 73,000 professionals. Together they pioneer solutions and deliver innovative projects in the transportation, infrastructure, environment, building, energy, water, and mining and metals sectors. WSP will be managing the PEA from its Whitehorse office, leveraging its knowledge of the local community, costs, and infrastructure.

About Fuerte Metals Corporation

Fuerte Metals is a Canadian exploration and development company focused on advancing high-potential precious metals and base metals projects across the Americas. Our flagship asset is the 100%-owned Coffee Project in the Yukon, Canada - a high-quality gold project advancing through the final stages of permitting, engineering, and resource expansion drilling in preparation for a construction decision. Coffee hosts 3.0 million ounces of open-pit heap-leach Measured and Indicated Resource and an Inferred Resource of 0.8 million ounces. We respectfully acknowledge that protection of the water and lands around the Coffee Creek and mine project area is of high importance to First Nations. Through cooperation, transparency, and respect, we pledge to continue to build on relationships with Tr'ondëk Hwëch'in, White River First Nation, Selkirk First Nation, and the First Nation of Na-Cho Nyäk Dun, whose Traditional Territories overlap or partially overlap with the project access road, and areas where exploration and mining activities may occur. In addition to Coffee, Fuerte holds a portfolio of copper and gold assets, including the Placeton-Caballo Muerto Project in Chile and the Cristina and Yecora Projects in Mexico, offering additional growth and exploration upside. At Fuerte, we are committed to building value through disciplined project development, responsible stewardship of the land, a safety-focused culture, and creating long-term returns for shareholders.

Qualified Person

Alan J. San Martin, P.Eng. and Charley Murahwi, P.Geo. from Micon International Limited are the Qualified Persons (QPs) who prepared the Coffee Gold Project Mineral Resource Estimate, as detailed in the technical report titled "NI 43-101 Technical Report for the 2025 Mineral Resource Estimate Update on the Coffee Gold Project, Yukon, Canada" with an effective date of August 21, 2025. Micon International Limited is "independent" of Fuerte as defined by Section 1.5 of NI 43-101. The Coffee Technical Report is available on the Company's website at www.fuertemetals.com and on SEDAR+ at www.sedarplus.ca.

Additional Information

For more information, please contact:
Tim Warman, Chief Executive Officer and Director 
Fuerte Metals Corporation
Email: info@fuertemetals.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements include, but are not limited to, statements with respect to information relating to the business of the Company including exploration and development activities and managements' objectives, strategies, beliefs and intentions.

Forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278002

FAQ

What timeline did Fuerte (FUEMF) give for the Coffee Gold PEA and FS?

The company expects the PEA in Q1 2026 and the FS in Q4 2026.

Could Fuerte (FUEMF) reach a construction decision for Coffee Gold in 2027?

Yes; a production/construction decision could be made as early as Q1 2027, per the announcement.

What role will G Mining Services play on the Coffee Gold project (FUEMF)?

GMS will produce the FS, perform preliminary engineering for critical-path items, and lead eventual mine construction under an MOU, subject to approvals.

What will WSP do for the Coffee Gold project (FUEMF)?

WSP will manage the PEA from its Whitehorse office, using local cost and infrastructure knowledge.

Is the Coffee Gold project fully owned by Fuerte (FUEMF)?

Yes; the announcement states Fuerte holds 100% ownership of the Coffee Gold project.