Fortitude Gold Corp. announced a joint‑venture agreement with Hawthorne Land & Minerals, LLC, creating a new operating subsidiary, East Camp Douglas, LLC, to advance exploration and development of the East Camp Douglas property in Mineral County, Nevada. The agreement was signed on February 27, 2026 and publicly disclosed on March 2, 2026.
Under the deal, Hawthorne will invest $40 million, with Fortitude holding 60 % ownership and Hawthorne 40 %. The capital will fund drilling, geologic surveys, assaying, modeling, environmental and permitting studies, and infrastructure development, allowing the project to accelerate toward production without diluting equity or taking on debt.
East Camp Douglas spans 5,583 acres and includes 293 unpatented lode claims, 24 unpatented placer claims, 12 patented mining claims, and three fee land parcels, located roughly six miles southwest of Mina, Nevada. Fortitude is permitting an exploration Plan of Operations and a Nevada Reclamation Permit covering up to 125 acres of disturbance, and will continue drilling under existing Notices while approvals are processed.
The joint venture provides non‑debt capital that aligns with Fortitude’s debt‑free strategy and dividend policy, while diversifying its portfolio beyond its single‑asset focus. It positions the company to accelerate the project timeline and bring the property closer to production, strengthening the exploration pipeline and supporting future growth.
CEO Jason Reid said the JV “positions stakeholders to explore and advance East Camp on an accelerated basis.” He also noted that permit backlogs under the previous administration had slowed progress, and the new partnership will help overcome those headwinds.
Fortitude’s recent financials show modest revenue and earnings, with Q3 2025 net sales of $4.7 million and net income of $0.2 million, and full‑year 2024 net sales of $37.3 million and pretax income of $1.4 million. The JV is expected to strengthen the company’s exploration pipeline and support future growth.
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