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Exploration Program Targets Close to-Mine Ounce Progress
Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (“Fortune Bay” or the “Firm”) is happy to announce that exploration drilling has commenced on a number of high-priority exploration targets at its 100%-owned Goldfields Gold Challenge (“Goldfields” or the “Challenge”) in northern Saskatchewan.
The targets embrace alternatives for useful resource enlargement on the Field and Athona deposits, and potential for the addition of recent assets from underexplored historic occurrences at Frontier, Golden Pond, and Triangle — all inside two kilometres of past-producing and anticipated future mine infrastructure (Determine 1).
An preliminary 17 exploration holes (3,250 metres) are deliberate with provision to develop this system in a results-driven method. The exploration drilling can be carried out at the side of development-related drilling, supporting development of Goldfields to Pre-Feasibility Examine, as described within the Firm’s current Information Launch.
Gareth Garlick, VP Technical Companies for Fortune Bay, commented “We’ve got initiated drilling inside three weeks of closing our financing, demonstrating the tempo at which we intend to advance the Challenge. Goldfields is already positioned as a strong improvement asset in Canada’s high mining jurisdiction, with work towards pre-feasibility and allowing in progress. Our exploration program is designed to unlock extra near-mine ounces that might additional strengthen Goldfields’ distinctive economics and enhance the general improvement profile.”
Field Deposit – Excessive-Grades Open at Depth
The Field deposit is huge open at depth. The Firm’s 2021 drilling confirmed high-grades extending as much as 240 m past the extents of the present open-pit constrained Mineral Useful resource Estimate (“MRE”) (Determine 2), together with:
- 13.22 g/t Au over 8.0 m from 426.0 to 434.0 m (drill gap B21-340)
- 8.74 g/t Au over 5.0 m from 575.0 to 580.0 m (drill gap B21-339)
- 8.00 g/t Au over 12.0 m from 509.0 to 521.0 m (drill gap B21-336)
- 8.00 g/t Au over 4.0 m from 375.0 to 379.0 m (drill gap B21-334)
4 preliminary drill holes (2,000 m) are deliberate to check and infill giant gaps (as much as 170 m) within the present drill gap protection outdoors of the MRE to check for extensions to high-grade zones with underground mining potential.
Gold mineralization happens in sheeted and stockwork quartz–sulphide veins throughout the Field Mine Granite (“BMG”), managed by N-S and NW-SE trending constructions. The Field Deposit at the moment hosts an open-pit constrained mineral useful resource together with 734,300 oz Indicated (16.2 Mt @ 1.41 g/t), and 114,100 oz Inferred (3.4 Mt @ 1.04 g/t) (efficient date September 11, 2025).
Athona Deposit – Close to-Pit Useful resource Enlargement Potential
Mineral assets at Athona are hosted solely throughout the Athona Mine Granite (“AMG”). The outcropping Athona West Mine Granite (“AWMG”) is situated instantly west of the AMG and shows gold mineralization comparable in model to the AMG, however has not seen adequate drilling to help estimation of mineral assets (Determine 3).
Two preliminary drill holes (270 m) are deliberate with the twin goal of testing mineralization continuity within the AWMG and testing an underlying extension of the AMG under the AWMG. This goal is situated immediately adjoining to, and partially overlapping, the Athona open-pit designed within the Up to date PEA and has potential to cost-effectively add mineral assets with restricted delineation drilling.
Gold mineralization at Athona happens as stacked quartz–sulphide vein arrays managed by NNE-trending constructions. The Athona Deposit (AMG) at the moment hosts an open-pit constrained mineral useful resource together with 255,400 oz Indicated (7.8 Mt @ 1.02 g/t) and 100,100 oz Inferred (4.0 Mt @ 0.78 g/t) (efficient date September 11, 2025).
Exploration Drilling at Underexplored Historic Gold Occurrences
The Frontier, Golden Pond, and Triangle occurrences — all situated inside two kilometres of past-producing and anticipated future mine infrastructure — characterize alternatives to outline new mineralized zones that might finally contribute extra gold ounces to future Mineral Useful resource Estimates, thereby enhancing the general scale and optionality of the Goldfields Challenge. The 2025/2026 exploration drilling program has been designed to check the scale potential and continuity of shallow mineralized techniques at these targets. Outcomes from this work can be used to prioritize areas for follow-up delineation drilling, with the target of advancing probably the most compelling alternatives in a cheap and well timed method.
Frontier – Positioned 800 metres northwest of the Field Deposit, the mineralized Frontier Mine Granite (“FMG”) varieties a ten–25 metre thick tabular physique placing ENE–WSW and dipping gently to the SSE, comparable in model to the Field Mine Granite. Historic work signifies that almost all mineralization happens inside a topographic excessive (outcropping to ~25 metres depth), which might present a beneficial strip ratio ought to a mineral useful resource be outlined. Three preliminary drill holes (340 metres) are deliberate take a look at for down-dip extensions of traditionally recognized mineralization.
Golden Pond – Historic drilling at Golden Pond returned near-surface gold mineralization, with the vein system interpreted to stay open to the northwest. Six preliminary holes (440 metres) are deliberate to substantiate historic outcomes and to judge each along-strike and down-dip extensions of the mineralized construction.
Triangle – Triangle hosts a broad quartz-vein system that has returned floor seize samples as much as 177 g/t gold from current fieldwork. In contrast to the granite-hosted targets at Field, Athona, Frontier, and Golden Pond, mineralization at Triangle happens inside less-resistant calcareous bedrock and is usually masked by overburden. Historic drilling was restricted and didn’t appropriately take a look at the interpreted vein orientation.
Two preliminary drill holes (200 metres) can be accomplished to correctly consider the goal and assess continuity of the mineralized system each alongside strike and down dip.
Technical Disclosure
Present Drilling and Sampling Outcomes
The Field 2021 (“B21”) and 2022 (“B22”) drill holes have been oriented at reasonable dips (-55 to -60 levels) to the east to intersect the dominant mineralized vein-sets at excessive angles, and true thicknesses are estimated to be roughly 80% of the intersected lengths. Drill outcomes proven are assays from 1 metre samples of half-cut NQ core composited into longer intervals utilizing a minimal decrease cut-off of 0.5 g/t Au, and most 5 metres of consecutive waste outlined as < 0.3 g/t Au.
Floor pattern outcomes from Triangle derive from seize samples collected by hand from outcrop. Seize samples are selective in nature and will not be essentially consultant of the general mineralization on the incidence.
Historic Outcomes
Historic exploration outcomes for Golden Pond and Frontier, which can be getting used to plan exploration holes, derive from evaluation reviews 74N08-0150 and 74N07-0315, respectively. These reviews and supporting datasets can be found for obtain from the Saskatchewan Mineral Evaluation Database (“SMAD”). Accordingly, historic outcomes haven’t been verified and there’s a danger that any future affirmation work and exploration might produce outcomes that considerably differ from the historic outcomes. The Firm considers historic outcomes related to evaluate the mineralization and financial potential of the property.
Mineral Useful resource Estimate
The Mineral Useful resource Estimate for Field and Athona is offered within the technical report titled “Goldfields Challenge Up to date NI 43-101 Technical Report & Preliminary Financial Evaluation, Saskatchewan, Canada“, dated October 20, 2025, ready by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The report is obtainable beneath the Firm’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Firm’s web site at www.fortunebaycorp.com.
Certified Particular person & Technical Disclosure
The technical and scientific data on this information launch has been reviewed and permitted by Gareth Garlick P.Geo., Vice-President Technical Companies of the Firm, who’s a Certified Particular person as outlined by NI 43-101. Mr. Garlick is an worker of Fortune Bay and isn’t impartial of the Firm beneath NI 43‑101.
About Goldfields
The 100% owned Goldfields Challenge (“Goldfields” or the “Challenge”) is situated roughly 13 kilometres south of Uranium Metropolis, Saskatchewan. Goldfields hosts the Field and Athona gold deposits, in addition to extra gold showings throughout the potential Goldfields Syncline. The Field deposit was traditionally mined underground between 1939 and 1942, producing 64,000 ounces of gold. The Challenge is situated inside a historic mining space and advantages from established infrastructure, together with a highway and hydro-powerline to the Field deposit. Close by amenities and providers in Uranium Metropolis embrace bulk gasoline, civils contractors, and a industrial airport.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and improvement firm advancing high-potential belongings in Canada and Mexico. With a technique centered on discovery, useful resource development and early-stage improvement, the Firm targets worth creation on the steepest a part of the Worth Creation Curve—previous to the capital-intensive construct part. Its portfolio contains the development-ready Goldfields Challenge in Saskatchewan, the resource-expansion Poma Rosa Challenge in Mexico, and two optioned Athabasca Basin uranium portfolios offering non-dilutive capital and upside publicity. Backed by a technically confirmed group and tight capital construction, Fortune Bay is positioned for a number of near-term catalysts. For extra data, go to www.fortunebaycorp.com or contact data@fortunebaycorp.com.
On behalf of Fortune Bay Corp.
“Dale Verran”
Chief Govt Officer
902-334-1919
Cautionary Assertion
Info set forth on this information launch comprises forward-looking statements which can be based mostly on assumptions as of the date of this information launch. These statements mirror administration’s present estimates, beliefs, intentions, and expectations. They aren’t ensures of future efficiency. Phrases equivalent to “expects”, “goals”, “anticipates”, “targets”, “objectives”, “initiatives”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “continues”, “might”, variations of such phrases, and comparable expressions and references to future intervals, are meant to determine such forward-looking statements, and embrace, however will not be restricted to, statements with respect to: the outcomes of the Up to date PEA, together with future Challenge alternatives, future working and capital prices, closure prices, AISC, the projected NPV, IRR, timelines, allow timelines, and the power to acquire the requisite permits, economics and related returns of the Challenge, the technical viability of the Challenge, the market and future value of and demand for gold, the environmental affect of the Challenge, and the continued capacity to work cooperatively with stakeholders, together with Indigenous Nations, native Municipalities and native ranges of presidency. Since forward-looking statements are based mostly on assumptions and handle future occasions and situations, by their very nature they contain inherent dangers and uncertainties. Though these statements are based mostly on data at the moment accessible to the Firm, the Firm gives no assurance that precise outcomes will meet administration’s expectations. Dangers, uncertainties and different components concerned with forward- trying data might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Ahead trying data on this information launch contains, however isn’t restricted to, the Firm’s aims, objectives or future plans, statements, exploration outcomes, potential mineralization, the estimation of mineral assets, exploration and mine improvement plans, timing of the graduation of operations and estimates of market situations. Components that might trigger precise outcomes to vary materially from such forward-looking data embrace, however will not be restricted to failure to determine mineral assets, failure to transform estimated mineral assets to reserves, the lack to finish a feasibility examine which recommends a manufacturing determination, the preliminary nature of metallurgical take a look at outcomes, delays in acquiring or failures to acquire required governmental, environmental or different venture approvals, political dangers, incapability to meet the responsibility to accommodate Indigenous Nations and native Municipalities, uncertainties regarding the provision and prices of financing wanted sooner or later, adjustments in fairness markets, inflation, adjustments in trade charges, fluctuations in commodity costs, delays within the improvement of initiatives, capital and working prices various considerably from estimates and the opposite dangers concerned within the mineral exploration and improvement business, and people dangers set out within the Firm’s public paperwork filed on SEDAR. Though the Firm believes that the assumptions and components utilized in getting ready the forward-looking data on this information launch are affordable, undue reliance shouldn’t be positioned on such data, which solely applies as of the date of this information launch, and no assurance could be provided that such occasions will happen within the disclosed time frames or in any respect. The Firm disclaims any intention or obligation to replace or revise any forward-looking data, whether or not on account of new data, future occasions or in any other case, aside from as required by regulation. For extra data on Fortune Bay, readers ought to check with Fortune Bay’s web site at www.fortunebaycorp.com.
Neither TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
SOURCE Fortune Bay Corp.
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