AURYN Mining Corporation Shareholder Update
AURYN Mining Corporation (OTC: AUMC) is committed to keeping shareholders informed about our progress and strategic priorities. As we enter Q3 2026, we continue to advance the Fortuna Project through commissioning, mine development, permitting, and infrastructure improvements. The following summarizes recent accomplishments and the path toward commercial operations.
ACCOMPLISHMENTS
Permitting
The Fortuna Project’s original 1,000-tonne-per-month authorization, based on the sublevel stoping method, was updated to a new permit at the same tonnage using the cut-and-fill method. Following the submission of responses to regulatory observations, the permit was approved on April 29, 2026.
We also submitted an application on December 23, 2025, to increase Fortuna’s authorized mining capacity to 3,000 tonnes per month. We addressed two rounds of regulatory observations during March and May 2026. Based on the current review process, approval is anticipated in Q3 2026.
The Fortuna Tailings Storage Facility permit was approved on January 29, 2026. Construction commenced on January 4, 2026, and all major components were completed during April 2026.
In addition, our 4,950-tonne-per-month flotation processing plant received its operating approval on February 20, 2026.
Processing Plant
Construction of the flotation processing plant was substantially completed in late March 2026. Since then, commissioning activities have focused on completing electrical systems, piping, water management infrastructure, and equipment optimization.
Mechanical and operational testing is progressing well, with several process improvements already implemented. The plant is in the commissioning phase, with adjustments to optimize material flow, equipment performance, and metallurgical recovery ahead of sustained operations.
Mine Development
Mining operations continue under the approved 1,000-tonne-per-month permit.
Development activities have focused on rehabilitation, ground support, ventilation improvements, and preparation of production areas for safe, efficient mining. Based on detailed structural-geology evaluations, additional reinforcement has been installed in selected access ramps and production drifts to enhance long-term stability.
Metallurgical sampling continues, although laboratory turnaround times throughout Chile remain longer than normal due to industry-wide demand. We will release results as sufficient data becomes available.
Access Road Improvements
During June 2026, we awarded a contract for the upgrade of approximately 8 kilometers of the Fortuna access road.
The project includes roadway widening, foundation improvements, compaction, drainage enhancements, and final grading to improve year-round access and operational reliability. Completion is expected by the end of July 2026.
Employees
We currently employ 59 personnel supporting mine operations, plant commissioning, project development, environmental management, and corporate activities.
Community and Regulatory Engagement
We have received inquiries and complaints from various entities — including the municipalities of Curacaví and Lampa — regarding certain project activities such as the camp, tailings facility, and land use. The relevant authorities have conducted inspections, and we continue to work proactively with municipal representatives and regulatory agencies to address questions, provide clarifications, and implement appropriate solutions. We remain committed to regulatory compliance and maintaining positive relationships with local communities.
OUTLOOK
Our primary objective over the coming months is to complete commissioning activities, continue ramp-up of mining operations, and transition toward stable, sustainable production.
Key priorities include:
- Completion of process plant commissioning and performance optimization.
- Continued development of underground mining areas to support production requirements.
- Receipt of the 3,000-tonne-per-month mining authorization.
- Completion of access road improvements.
- Ongoing optimization of operational efficiency, safety, and environmental performance.
Despite the normal challenges associated with commissioning a new underground mining operation and process plant, we have made significant progress across all major project areas. We remain focused on safely ramping up operations, achieving stable production, and creating long-term value for shareholders.
STAY CONNECTED
For further details and to receive updates by email, please visit our website and subscribe to notifications. We appreciate your continued support and confidence in AURYN Mining Corporation.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
CONTACT INFORMATION
Auryn Mining Corporation
https://aurynminingcorp.com/
ir@aurynminingcorp.com