Fortitude Gold: Reserves and Resources

Nevada Reserves

Proven and Probable (P&P) Reserve Estimates

December 31, 2021 Nevada Mining Unit Proven & Probable Reserve Summary
Description	Tonnes	Gold g/t	Silver g/t	Gold Ounces	Silver Ounces
Isabella Pearl Mine
Proven	483,300	5.26	47	81,800	733,100
Probable	425,500	2.04	16	27,900	221,000
Proven and Probable Total	908,800	3.75	33	109,700	954,100
High-Grade Stockpile	14,000	10.09	88	4,500	39,600
Low-Grade Stockpile	435,000	0.53	5	7,300	63,900
Isabella Pearl Mine Total	1,357,800	2.78	24	121,500	1,057,600

Mineral Resource Inventory at Golden Mile, Mineral County, Nevada, USA (as of September 30, 2021)^{1 2 3 4 5 6 7}
Class	Tonnes	Short Tons	Ag (g/t)⁵	Au (opst)⁶	Au (oz)⁷
Indicated	2,160,000	2,380,000	1.13	0.033	78,500
Inferred	2,400,000	2,640,000	1.10	0.032	84,500
Reported at a cutoff of 0.34 g/t Au (0.010 opst). Whole block diluted estimates are reported within an optimized pit shell. Mineral Resources do not have demonstrated economic viability. Totals may not sum exactly due to rounding. "g/t" = gram/metric tonne. "Opst" = ounces per short ton. "oz" = Troy ounce.