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SABELLA TUDE GOLD 2019 FORTITUDE GOLD CORP . FOR IMMEDIATE RELEASE May 11 , 2021 NEWS OTCQB : FTCO FORTITUDE GOLD REPORTS PROFITABLE FIRST QUARTER INCREASING TREASURY BY $ 7M , MAINTAINS 2021 PRODUCTION OUTLOOK COLORADO SPRINGS - May 11 , 2021 - Fortitude Gold Corp. ( OTCQB : FTCO ) ( the " Company " ) reported results for the first quarter ended March 31 , 2021 of 11,536 ounces of gold produced at $ 575 per ounce all - in sustaining cost , $ 20.7 million net sales , $ 7.4 million increase in treasury to $ 35.2 million , and maintains its 2021 production outlook . Fortitude Gold is a gold producer , developer , and explorer with operations in Nevada , U.S.A. Q1 2021 FINANCIAL RESULTS AND HIGHLIGHTS $ 7.3 million cash from operating activities $ 35.2 million cash balance on March 31 , 2021 ; an increase of 27 % , or $ 7.4 million from December 31 , 2020 $ 20.7 million net sales 11,536 gold ounces produced • 5.03 grams per tonne average gold grade mined • $ 55.6 million working capital , an increase of 33 % from December 31 , 2020 $ 10.9 million mine gross profit $ 575 per ounce total all - in sustaining cost $ 2.4 million net earnings or $ 0.10 per share Completed staffing up post spin - off Overview of Q1 2021 Results Fortitude Gold sold 11,572 gold equivalent ounces at a total cash cost of $ 534 per ounce ( after by - product credits ) . Realized metal prices during the quarter averaged $ 1,804 per ounce gold * . The Company recorded net income of $ 2.4 million , or $ 0.10 per share . Cash and cash equivalents at quarter end totaled $ 35.2 million . The Company produced 11,536 2886 CARRIAGE MANOR PT . | COLORADO SPRINGS , CO 80906 | U.S.A. | P + 1-719-717-9825 | F + 1-719-247-8608