Fortune Bay Adds Athabasca Uranium Potential Whilst Advancing Goldfields

• Company Overview: Fortune Bay Corp is a TSXV-listed exploration and development company. Their flagship asset is the Goldfields project located in northern Saskatchewan, which has a significant indicated mineral resource. The company also has an asset in Mexico named the Experion project.
• Recent Acquisition: Fortune Bay has recently acquired a uranium project located near their Goldfields project. This uranium project presents potential for deposits related to the Athabasca unconformity. Despite the focus on gold, the company saw this as a timely opportunity given the rising interest in uranium and its proximity to their main operations.
• Company Strategy: Fortune Bay intends to continue its main focus on the Goldfields project while concurrently advancing the newly acquired uranium asset. The decision to bring in the uranium project was made after considerable geological study and discussions with the board. Despite its recent acquisition, the company's primary commitment remains with the Goldfields project.
• Operational Logistics: The company emphasizes that the new uranium project is not a distraction because of its proximity to the Goldfields project. They have an operational hub in Uranium City that supports their Goldfields exploration and can easily support the uranium project. Additionally, the company possesses the required uranium exploration experience within their team.
• Future Plans: The uranium project was acquired through a low-cost staking opportunity, presenting both value and potential return. Depending on exploration results, there's potential for further strategic decisions, including possibly spinning out the uranium project. Fortune Bay's approach remains a combination of mining and market strategy, aiming to maximize value for shareholders.

About Fortune Bay Corp

Fortune Bay Corp is a Canadian exploration and development company focused on advancing its flagship Goldfields gold project in northern Saskatchewan, while also recently acquiring a prospective uranium project in the Athabasca Basin. With experienced leadership and exploration teams, Fortune Bay is leveraging historical data to unlock resource expansion and discovery opportunities.

Founded in 2009, Fortune Bay has assembled a portfolio of advanced and early-stage exploration assets in Canada and Mexico. The company is led by a technical team with backgrounds in major mining companies and experience in making significant discoveries of gold and uranium deposits. Fortune Bay is headquartered in Nova Scotia, Canada.

Interview with Dale Verran, CEO of Fortune Bay Corp.

Advancing the Flagship Goldfields Project

The primary focus for Fortune Bay is advancing the 100% owned Goldfields project, located in northern Saskatchewan, approximately 13km from Uranium City. Goldfields hosts an indicated mineral resource of 975,000 oz gold and an inferred resource of 176,000 oz gold. The project benefits from nearby infrastructure and historical mining operations, with significant potential to expand existing deposits and make new discoveries across the widespread Archean greenstone belts.

Exploration drilling in 2021 has yielded positive results, significantly expanding mineralization at the Box deposit and identifying new high-grade vein targets. Assays from the first phase 5,000m drill program included high-grade intercepts up to 17 g/t Au over 1m at the Anthill deposit and up to 8 g/t Au over 12m at the Box deposit. The results confirm resource expansion potential and will guide ongoing exploration.

Adding Athabasca Basin Uranium to the Portfolio

In a strategic move to capture nearby opportunities, Fortune Bay acquired through staking the 10,000 hectare Strike project, located adjacent to its Goldfields claims. Strike exhibits favorable geology and mineralization indicators for high-grade unconformity-related uranium deposits associated with the Athabasca Basin. Historical exploration identified extensive electromagnetic (EM) conductors prospective for uranium mineralization and previous high-grade mining at the Tenor zone (1.5-3% U3O8).

With its experienced leadership, including the VP Exploration’s background discovering uranium deposits, Fortune Bay believes Strike represents a low-cost entry into an underexplored and potentially significant uranium district. Initial work will focus on refining targets for drill testing using existing geophysical datasets. The company will also consider additional regional uranium opportunities proximal to its Saskatchewan operations.

Conclusion

With exploration upside at its Goldfields project and a strategic entry into uranium exploration in the Athabasca Basin, Fortune Bay offers investors exposure to discovery opportunities in two critical energy metals - gold and uranium. Supported by historical datasets and experienced technical teams, the company is poised to systematically advance both projects, aiming to expand resources and make new discoveries. Fortune Bay represents an attractive investment opportunity in the junior mining space.