Fredonia Mining Inc. (FRED) is pushing forward with technical and corporate developments at its flagship El Dorado Monserrat project in Argentina’s Santa Cruz province. The company is actively executing a 10,000-metre diamond drilling program, with approximately 3,500 metres completed to date. These drilling activities are designed to refine the resource model and increase geological confidence across the project area.

In parallel with field operations, the company is finalizing a Preliminary Economic Assessment (PEA), which is scheduled for completion by the end of August 2026. This study will provide the first integrated evaluation of development scenarios for the site, which currently hosts a measured and indicated resource of roughly 2.25 million gold equivalent ounces. Fredonia has begun receiving initial assay results from the current campaign and intends to release a comprehensive data update once a representative portion of the laboratory work is completed and validated.

To support the project’s transition through ongoing technical studies, the company appointed Gustavo Gomes as a strategic advisor. Mr. Gomes brings four decades of international mining experience, having previously held senior leadership roles at global mining operations including Las Bambas in Peru.

Beyond technical work, the company recently expanded its land package to approximately 33,500 hectares. While these additions are separate from the current drilling and PEA scope, they provide a larger platform for long-term exploration. Fredonia maintains a broader portfolio focus within the Deseado Massif region, with secondary interests including the El Aguila and Hornia projects.

Read the full announcement: Fredonia Provides El Dorado Monserrat Project and Corporate Update