Fortitude Gold Corp. (FTCO) entered into a Joint Venture Agreement (JV Agreement) with Hawthorne Land & Minerals, LLC (Hawthorne) on February 27, 2026, to accelerate exploration and development of its East Camp Douglas property in Mineral County, Nevada. An operating subsidiary, East Camp Douglas, LLC (the JV), will be formed, with Fortitude Gold owning 60% and Hawthorne owning 40%. Hawthorne will contribute a strategic $40 million investment to fund an aggressive exploration program, which also constitutes the initial Exploration Budget. Fortitude Gold, through its subsidiary GRC Nevada Inc., contributes the East Camp Douglas property, valued at $60 million, to the JV. Following Hawthorne's initial $40 million investment, future JV expenditures will be funded on a pro rata basis (60% Fortitude / 40% Hawthorne). The near-term goal of the JV is to define a major gold discovery, followed by permitting and advancing a mine into production in the shortest possible time. Fortitude Gold will manage project development and future gold production, and appoints two of the three JV board members.