Fortune Bay hires IR consultants, names Verran director

Executive Summary

• Fortune Bay provided a detailed corporate update on its two wholly‑owned gold projects—Goldfields (Saskatchewan) and Poma Rosa (Chiapas)—including schedule‑bound updates to the Goldfields Preliminary Economic Assessment (PEA) and permitting activities.
• The company announced several high‑profile technical appointments and board additions, notably the promotion of Gareth Garlick to VP, Technical Services; appointment of Robert Shaw as Technical Adviser; and addition of CEO Dale Verran to the Board of Directors.
• Fortune Bay disclosed a suite of new investor‑relations and marketing agreements totaling roughly US$119,585 to boost market awareness for its gold portfolio.

Key Details

• Goldfields Project (Canada)
• Updated PEA (led by Ausenco Engineering Canada ULC) remains on schedule for completion in Q3 2025, with budgeting unchanged.
• Current Mineral Resource Estimate (MRE):
  • 979,900 oz indicated (23.2 Mt @ 1.31 g/t Au)
  • 210,800 oz inferred (7.1 Mt @ 0.92 g/t Au)
• Phase 1 (mine optimisation & process/infrastructure design) completed; Phase 2 (PEA) underway.
• Permitting: environmental baseline studies started; terrestrial fieldwork ongoing; aquatic fieldwork slated to begin Sept 1 2025.
• Community engagement plan being drafted for early Q4 2025 rollout.

• Planned drilling program targeting Frontier Lake, Golden Pond, and Triangle prospects to test resource growth potential.

• Poma Rosa Project (Mexico)

• Ongoing community‑consultation process aimed at securing agreements for a field‑work restart in late 2025.
• Desktop review of historical MRE completed with Understood Mineral Resources Ltd.; establishing approach for an updated NI 43‑101 resource estimate:
  • Campamento gold deposit – historic MRE: 1,041,000 oz measured & indicated (17.6 Mt @ 1.84 g/t Au) and 703,000 oz inferred (21.8 Mt @ 1.01 g/t Au).
  • Cerro La Mina copper‑gold prospect – maiden MRE under development.

• No new drilling required for the upcoming NI 43‑101 updates; work will commence after community agreements are finalised.

• Investor Relations & Marketing Agreements (6‑month terms unless noted)

• Avec Creations Ltd. – multi‑platform outreach: US$35,000
• NorthStar Communications Canada Corp. – virtual interview distribution (U.S.): US$6,750
• Blender Media Inc. – PrivatePlacements.com sponsorship: US$21,000
• Dig Media Inc. (Investing News Network) – advertising & awareness campaign: US$12,500 plus US$25,000 ad spend (U.S.)

• The Northern Miner Group – joint‑venture article, podcast, video, digital ads: US$24,335

• Key Technical Appointments

• Gareth Garlick: promoted to Vice‑President, Technical Services (technical director since 2020; 25 years experience).
• Robert Shaw: appointed Technical Adviser (35 + years exploration experience across the Americas).

• Dale Verran: CEO appointed as Board Director (exploration geologist with 25 + years experience).

• Technical Disclosure

• Goldfields 2022 PEA (effective Oct 31 2022) filed on SEDAR+, prepared under NI 43‑101 by Ausenco Engineering Canada ULC, Moose Mountain Technical Services, and SRK Consulting.
• Historical MREs for Campamento and Cerro La Mina referenced from 2006 reports; not treated as current resources pending updated NI 43‑101 work.

Notable Quotes

• Wade Dawe, Executive Chairman: “Fortune Bay is entering an active phase… positioning the company to deliver meaningful growth by systematically unlocking the full potential of our property portfolio.”
• Dale Verran, CEO & New Board Member: “At Goldfields, the updated PEA and permitting activities are progressing on schedule… At Poma Rosa, we are laying the groundwork for future exploration and development by fostering transparent, inclusive relationships with local communities.”