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SABELLA VDE GOLD ITUDE 2019 FORTITUDE GOLD CORP . FOR IMMEDIATE RELEASE November 2 , 2021 NEWS OTCQB : FTCO FORTITUDE GOLD REPORTS THIRD QUARTER NET INCOME OF $ 4.6M OR $ 0.19 PER SHARE COLORADO SPRINGS - November 2 , 2021 - Fortitude Gold Corp. ( OTCQB : FTCO ) ( the " Company " ) reported production and financial results for the third quarter ended September 30 , 2021 of 11,478 ounces of gold produced at $ 793 per ounce all - in sustaining cost , $ 20.4 million net sales , and a $ 16.6 million increase to its treasury to $ 44.3 million from December 31 , 2020. Fortitude Gold is a gold producer , developer , and explorer with operations in Nevada , U.S.A. Q3 2021 FINANCIAL RESULTS AND HIGHLIGHTS • $ 20.4 million net sales • $ 4.6 million net income or $ 0.19 per share • $ 44.3 million cash balance on September 30 , 2021 , an increase of $ 16.6 million from December 31 , 2020 • 11,478 gold ounces produced • 1.42 grams per tonne average gold grade mined • $ 75.5 million working capital at September 30 , 2021 , an increase of $ 33.7 million from December 31 , 2020 $ 9.6 million mine gross profit • $ 624 total cash cost after by - product credits per gold ounce sold • $ 793 per gold ounce total all - in sustaining cost . 16.7 % dividend increase to $ 0.42 annually per share , subsequently increased by 14 % to $ 0.48 per share Overview of Q3 2021 Results Fortitude Gold sold 11,454 gold ounces at a total cash cost of $ 624 per ounce ( after by- product credits ) . Realized metal prices during the quarter averaged $ 1,789 per ounce gold * . The Company recorded net income of $ 4.6 million , or $ 0.19 per share . Cash and cash equivalents at quarter end totaled $ 44.3 million . The Company produced 11,478 ounces of gold during the quarter and maintains its 2021 upper range gold production Outlook of 45,000 gold ounces . * Average realized metal prices include final settlement adjustments for previously unsettled provisional sales . Provisional sales may remain unsettled from one quarter into