Fortitude Gold announced it has acquired 100% interest in two separate gold properties within Nevada's Walker Lane Mineral Belt. The first being the Dauntless gold property, which includes the historic Weepah gold mine, located in Esmeralda County, Nevada, approximately 30 kilometers southwest of Tonopah, Nevada. The second being the Intrepid claim package, located in Mineral County, Nevada, approximately 10 kilometers northwest of Mina, Nevada.

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 Dauntless claim package was purchased from Nevada Select Royalty Inc, a wholly owned subsidiary of Gold Royalty Corp. The approximate 2,105-acre land package has seen historic high-grade gold production from both open pit and underground workings with undeveloped drill intercepts including 16 meters of 3.36 grams per tonne (g/t) gold.

Fortitude Gold staked 129 additional unpatented claims around the property to strengthen the land position and exploration potential. The Company purchased 100% interest in the Dauntless claim package for total consideration of US$725,000. Nevada Select Royalty Inc. retained a maximum net smelter return royalty (NSR) of 3% on future production from the property claims. The property warranted acquisition for reasons including surface and near surface high-grade gold, historic high-grade gold production, exploration potential, and its location in the Walker Lane Mineral Belt within trucking distance to the Company's Isabella Pearl gold processing facility.

Historic mining records indicate during the mid-1980's a small portion of the claims were mined by Sunshine Mining Company who reported 60,000 ounces of gold mined at an average grade of 3.1 grams per tonne (g/t) and a 1:1 strip ratio. Low historic metal prices closed the mine though it was estimated more mineralization remained. Gold mineralization at Dauntless is believed to occur within two broad shear zones.

The western shear zone hosts all historic production with a small open pit and adjacent underground workings, while the eastern shear zone was exploited by modest exploratory workings. Both shear zones have been traced for hundreds of meters along strike and down dip and appear to be open to the south. The Company's rock check samples confirmed widespread surface gold grades as high as 14 grams per tonne (g/t) gold (see map below).

Mineralization reported by third parties, including drill results upwards of 16.5 meters (54 feet) of 3.36 g/t gold, as a potential extension to the historic open pit warrant additional exploration to confirm, expand, and identify mineralized potential remaining. Zones sampled in the pit, coupled with historic third-party drilling, indicate high-grade gold continuity in at least one dominate mineralized structure. Historic third-party drill highlights include (m=meters, g/t=grams per tonne): 16.5 m (54 feet) of 3.36 g/t gold, 15.2 m (50 feet) of 3.11 g/t gold, 6.1 m (20 feet) of 7.46 g/t gold, 3.0 m (10 feet) of 2.79 g/t gold.

Intrepid acquisition highlights include: 100% ownership, Rock chip samples up to 2.55 g/t gold, Proximity to Company's producing Isabella Pearl mine (24 kilometers), Potential equipment and processing facility synergies with Company's Isabella Pearl project, 157 unpatented lode mining claims, Mining friendly jurisdiction, Nevada, U.S.A. The Company acquired 100% interest in Intrepid and a larger claim package by staking claims and issuing a maximum NSR of 3% to an individual on future production. No cash payment was made to the claim holder in association with the Intrepid acquisition. Gold mineralization at the property is hosted by silicified volcanics and sediments.

A Notice of Intent to drill Intrepid has been submitted to the Bureau of Land Management. Rock chip samples include: 2.55 g/t gold, 2.44 g/t gold, 2.13 g/t gold.