Page 1

SABELL TUDE GOLD 2019 FORTITUDE GOLD CORP . FOR IMMEDIATE RELEASE August 3 , 2021 NEWS OTCQB : FTCO FORTITUDE GOLD REPORTS RECORD SECOND QUARTER PRODUCTION AND NET INCOME OF $ 8.3M OR $ 0.35 PER SHARE - COLORADO SPRINGS August 3 , 2021 - Fortitude Gold Corp. ( OTCQB : FTCO ) ( the " Company " ) reported record production and financial results for the second quarter ended June 30 , 2021 of 14,579 ounces of gold produced at $ 628 per ounce all - in sustaining cost , $ 25.9 million net sales , and a $ 13.8 million increase to its treasury to $ 41.5 million from December 31 , 2020. Fortitude Gold is a gold producer , developer , and explorer with operations in Nevada , U.S.A. Q2 2021 FINANCIAL RESULTS AND HIGHLIGHTS • $ 41.5 million cash balance on June 30 , 2021 ; an increase of 50 % , or $ 13.8 million from December 31 , 2020 $ 8.3 million net earnings or $ 0.35 per share • $ 25.9 million net sales • $ 16.4 million cash from year - to - date operating activities • 14,579 gold ounces produced • 6.75 grams per tonne average gold grade mined $ 72 million working capital , an increase of 72 % from December 31 , 2020 • $ 13.2 million mine gross profit • $ 564 per ounce cash cost after by - product credits • $ 628 per ounce total all - in sustaining cost $ 0.24 annual cash dividend per share initiated , subsequently increased by 50 % to $ 0.36 per share Overview of Q2 2021 Results Fortitude Gold sold 14,510 gold ounces at a total cash cost of $ 564 per ounce ( after by- product credits ) . Realized metal prices during the quarter averaged $ 1,794 per ounce gold * . The Company recorded net income of $ 8.3 million , or $ 0.35 per share . Cash and cash equivalents at quarter end totaled $ 41.5 million . The Company produced 14,579