American Marconi Wireless News - Fortitude Gold's Isabella Pearl Connects to Power Grid

NV Energy completed construction of a four-mile power line stretch to the Company's Isabella Pearl Project from a local substation for electrical grid power connection. Now complete, grid power is projected to lower production costs and lower emissions as the Company transitions away from higher cost diesel-powered generators. Cost savings converting to grid power are estimated to range from $80,000 to $100,000 per month.

"We are extremely excited to connect to the power grid at our Isabella Pearl Project," stated Fortitude Gold CEO and President, Mr. Jason Reid. "Decreasing our diesel consumption is expected to deliver substantial energy cost savings."

Mr. Reid continued, "While this project was unnecessarily delayed for over four years by the previous Biden Administration's permit backlog, I would like to thank the pro-energy, pro-mining Trump Administration for their support and direction in delivering our energy permit approval. Though we paid for most of the grid power project during the previous administration who locked up our investment with its permit backlog, we are excited to finally see our one point four-million-dollar energy investment come to fruition for the long-term future of our Isabella Pearl processing facility."

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 eight high-grade gold properties. Fortitude Gold owns 100% of its properties, with the exception of East Camp Douglas, which is held in a joint venture with Fortitude owning 60%. 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 and future plans for production. 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

C.Garcia--AMWN