Fortitude Gold's Business Segments

Fortitude Gold Corporation, established in Colorado in 2020, is a mining company specializing in gold and silver projects. Its primary operations focus on mineral production at the Isabella Pearl Mine in Nevada, where ore is processed onsite and sold as doré containing gold and silver. The company also engages in exploration and evaluation of precious metal properties in Nevada and pursues acquisitions. Fortitude Gold owns 100% of seven Nevada properties comprising 2,491 claims, including unpatented lode and placer claims, mill site claims, patented claims, and fee lands, totaling approximately 44,408 acres. These properties are administered by the U.S. Bureau of Land Management. In 2026, Fortitude Gold entered a Joint Venture Agreement to develop the East Camp Douglas property in Nevada, holding a 60% interest. The properties, located primarily in the Walker Lane Mineral Belt, range from exploration to production stages. The company’s operations require significant ongoing capital investment in equipment and facilities. Insurance coverage for property loss at Isabella Pearl is limited, with certain natural events, such as earthquakes, being cost prohibitive to insure.

The company operates as a single reportable segment focused on mining operations, specifically producing gold for sale. The Chief Executive Officer, serving as the Chief Operating Decision Maker (CODM), reviews and manages the business at a consolidated level. Financial information, annual operating plans, and forecasts are prepared and evaluated by the CODM based on consolidated net income reported in the Consolidated Statements of Income. Resource allocation aims to optimize consolidated financial results. The accounting policies for the mining operations segment align with the company's summary of significant accounting policies. Financial data for this segment is included in the company's financial statements.