American Marconi Wireless News - Fortitude Gold’s Isabella Pearl Power Grid Construction Commences

NV Energy has commenced power line construction of a four-mile stretch from the Company's Isabella Pearl Project to the nearest substation for electrical grid power connection. Once complete, grid power is expected to lower production costs as the Company transitions away from costlier diesel-powered generators currently in use at the Project.

"We look forward to our Isabella Pearl Project being connected to the power grid, which is estimated to lower our energy costs," stated Fortitude Gold CEO and President, Mr. Jason Reid. "We expect to decrease our diesel consumption, limit our generator power needs, limit generator rebuild costs and maintenance expenses while also reducing our onsite emissions with connection to the power grid. It's estimated we may see in excess of eighty thousand dollars in monthly energy savings using grid power over our current diesel power plant. Had this power grid application not taken over four years with the Biden Administration doing nothing to advance it, the Company likely would have saved millions of dollars in energy costs over that timeframe. Fortunately, under the pro-business and pro-mining Trump Administration that granted us this permit, the power line is now being installed."

Mr. Reid continued, "We are excited to invest in the long-term future of our Isabella Pearl processing facility with this power line. Our facility is now processing gold from three mines. The first mine was permitted under Trump's first term in office, and our two new mines and this energy permit were just granted under Trump's second Administration. It's great to see this progress as we pursue additional new mine permits under this Administration which embraces growth, business, and understands how key mining is to everyone's way of life."

About Fortitude Gold Corp.:

Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free, and distribute dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl, Scarlet South, and County Line Mines are currently in production in Mineral and Nye Counties, Nevada. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.

Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release.

Contact:

Greg Patterson
719-717-9825
[email protected]
www.Fortitudegold.com

SOURCE: Fortitude Gold Corp

View the original press release on ACCESS Newswire

L.Mason--AMWN