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 Q4 2025, the following updates summarize recent accomplishments and outline the path ahead across mining, exploration, and construction activities.
ACCOMPLISHMENTS
Operations and Plan Development
Antonino Tunnel – Fortuna Project
During the quarter, our contractor continued upgrades to the Antonino Tunnel and advanced mining work to connect it with the upper-level Fortuna access known as “Fortuna 1913.” This integration – authorized under an exploration project approved by Chile’s mining authority (SERNAGEOMIN) – is expected to enhance safety, ventilation, and overall mining efficiency while reducing dilution.
As noted in our Q3 report, we plan to file for a new exploitation permit to increase Fortuna’s capacity to 3,000 tons per month. Technical and geological documentation is nearly complete, and we expect to submit the application within the next two weeks. Based on standard timelines, approval is anticipated by late 2025 or early 2026. Until then, Fortuna will operate under its current authorization at up to 1,000 tons per month.
Caren Project
The application submitted last quarter for an initial capacity of 1,000 tons per month remains under review. We expect approval at any time. Following the initial approval, our technical team intends to submit a follow-on application to expand Caren’s capacity to approximately 1,950 tons per month.
Stockpiles
Geology and metallurgy teams continued evaluating and segregating stockpiled material at Fortuna by grade.
- Prepared for processing: ~28,000 tons ready for the plant at start-up.
- Total on site (estimated): >60,000 tons available to supplement plant feed over time.
- Commissioning strategy: During the plant’s 30-to-45-day commissioning period, we plan to run lower-grade material to fine-tune recovery and operating parameters before processing higher-grade ore.
Mineral Flotation Plant & Supporting Infrastructure
Site preparation for the Mineral Flotation Plant is progressing on schedule. Our contractor is nearing completion of foundational works (including concrete and rockfill).
- Main Warehouse: Construction completed and fully operational.
- Tailings Facility: Construction mobilized and earthworks commenced in September 2025, as planned.
- Permitting: We expect to receive the remaining approvals for the Flotation Plant and tailings facility in the coming months.
Initial Feed Plan: Start-up will utilize lower-grade stockpiles to establish steady-state performance without risking recovery losses. Thereafter, plant feed will transition to production from the Fortuna and Caren projects.
STAY CONNECTED
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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