FORTUNE BAY AND MANHATTAN URANIUM INTERSECT ANOMALOUS RADIOACTIVITY IN SIX DRILL HOLES AT MURMAC AND STRIKE

FORTUNE BAY AND MANHATTAN URANIUM INTERSECT ANOMALOUS RADIOACTIVITY IN SIX DRILL HOLES AT MURMAC AND STRIKE Canada NewsWire HALIFAX, NS, Nov. 3, 2026 Multiple near-surface zones and favourable geological observations help define follow-up uranium exploration targets in the Athabasca Basin HALIFAX, NS, Nov. 3, 2026 /CNW/ -- Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce completion of the 2026 summer drill program at the Murmac and Strike Uranium Projects ("Murmac" and "Strike", or collectively the "Projects"), near Uranium City in northern Saskatchewan. The program completed 24 drill holes totalling 4,526.4 metres and encountered favourable graphitic host rocks, faulting and hydrothermal alteration, with radioactivity of 300 counts per second ("cps") or higher reported in six holes, including shallow intersections beginning at 22.50 metres downhole at Strike's Tena target. The program was fully funded by Manhattan Uranium Discovery Corp. (TSXV: MANU, OTCQB: MAUUF, FSE: J5B0) ("Manhattan") and operated by Fortune Bay under an option agreement. Laboratory assays are the next step in evaluating the radiometric results and refining follow-up targets for high-grade, basement-hosted uranium mineralization. Program Highlights Partner-funded 2026 drill program completed: 24 drill holes totalling 4,526.4 metres across the Projects. Shallow radiometric results: Radioactivity of 300 cps or higher was reported in six holes. At Strike's Tena target, hole S26-020 returned 1.90 m averaging 489 cps from 59.13 m downhole, including 0.20 m averaging 1,890 cps. Favourable geological indicators: Drilling intersected graphitic host rocks, brittle structures and hydrothermal alteration that support further evaluation of uranium exploration targets. Assay results to guide follow-up: Drill core samples have been submitted for laboratory analysis, with results to be integrated with geological logging to prioritize the next phase of exploration. A Super-SPEC RS-225 handheld spectrometer was used to obtain radiometric readings, which are preliminary and do not quantify uranium grades. Laboratory assays are required to determine uranium concentrations. Gareth Garlick, VP Technical Services of Fortune Bay, commented: "Completing this partner-funded program advances our uranium exploration portfolio while allowing Fortune Bay to maintain its focus on Goldfields. We are particularly encouraged by the shallow depths of the radiometric intersections, together with the favourable host rocks, structures and alteration encountered across Murmac and Strike. The next step is to assess the laboratory assays and use the combined geological and geochemical data to prioritize follow-up targets." Drilling Summary and Radiometric Results The program completed 15 holes totalling 2,978.4 m at Murmac and nine holes totalling 1,548.0 m at Strike between June and September 2026 (Figure 1; Table 2). Murmac drilling tested the Pitchvein, Armbruster, Howland and Howland East targets outlined in the news release dated June 16, 2026. At Strike, drilling tested targets along the J, K and L Conductors and at Tena. Targets were selected using electromagnetic and gravity data, geological and structural interpretations, historical uranium occurrences and previous drilling results. Drilling encountered geological features commonly associated with high-grade, basement-hosted uranium mineralization related to the Athabasca Basin, including: Strongly graphitic units with estimated true thicknesses of up to approximately 25 m, commonly in contact with more competent quartzite or granite. These contrasting rock types can provide favourable structural settings. Brittle faulting and brecciation within or near graphitic units, typically associated with hydrothermal alteration including hematite, chlorite, sulphides and clays. Shallow radioactivity of 300 cps or higher in six of the 24 holes, hosted in graphitic pelites, gneisses and granites and commonly associated with favourable geological features (Table 1). Table 1: Drill Hole Radiometric Highlights (Drill hole prefixes "M" and "S" denote the Murmac and Strike projects, respectively) Hole ID Radioactivity Highlights (>300 cps) From (m) To (m) Length (m) cps Lithology / Comments M26-037 131.06 131.87 0.81 314 Fractured granite / gneiss. Entire intersection from 126.64 to 188.0 m (61.36 m) includes intermittent elevated radioactivity between 300 and 340 cps, averaging 269 cps. M26-040 126.95 127.10 0.15 310 Heavily fractured graphitic pelite, minor pervasive and moderate fault-hosted hematization. 128.50 128.60 0.10 310 S26-014 72.60 72.80 0.20 310 Biotite-rich pelite with graphitic faulting and hematization. 111.27 111.83 0.56 378 Faulted weakly graphitic pelitic gneiss, pervasive and fracture-hosted hematization. 152.47 152.64 0.17 340 Faulted weakly graphitic pelitic gneiss. S26-015 173.94 174.12 0.18 300 Weakly foliated pelitic gneiss. 174.59 174.96 0.37 300 175.79 176.00 0.21 300 S26-017 193.78 193.97 0.19 305 Structured gneiss, pervasive hematization. 195.17 195.30 0.13 305 196.56 196.76 0.20 305 S26-020 22.50 29.30 6.80 348 Alternating pelitic gneiss and amphibolite. Elevated radioactivity (at 60.03 m) associated with increased hematization. incl. 23.40 24.00 0.60 737 incl. 27.70 29.30 1.60 338 34.50 40.10 5.60 324 incl. 35.20 35.40 0.20 950 59.13 61.03 1.90 489 incl. 60.03 60.23 0.20 1,890 Note: Radioactivity values reported are total gamma from NQ drill core measured with a Super-SPEC RS-225 handheld spectrometer reported in counts per second ("cps"). The cps values are averages for the reported drill interval unless otherwise specified. Measurements of total gamma cps are an indication of the presence of uranium, thorium and/or potassium, but may not directly correlate with chemical uranium assays. Total gamma cps results are preliminary in nature and may not be used directly to quantify uranium concentrations in the drill core samples. True thicknesses of the drill core intersections are yet to be determined. Summaries for Drill Holes with Elevated (>300 cps) Radioactivity M26-037: Tested target P8 in the Pitchvein Corridor at Murmac. The targeted graphitic pelite (electromagnetic conductor) was intersected from 159.43 to 167.98 m, between more competent granite/gneiss units. A maximum radioactivity reading of 340 cps (Table 1) was recorded within a larger interval from 131.06 to 131.87 m that averaged 314 cps over 0.81 m. Numerous other anomalous (>300 cps) intervals were present intermittently in the interval 126.64 to 188.00 m, with a cumulative total of 7.54 m of core returning anomalous values in this 61.36 m interval. M26-040: This hole tested target A1, a gravity low at the south end of the Armbruster Corridor at Murmac. The targeted graphitic pelite was intersected from 91.41 to 138.04 m down hole. Anomalous radioactivity is hosted at the base of this unit in close proximity to its contact with an underlying highly competent quartzite, associated with intense hematization and faulting. S26-014: Tested target K5 on the K Conductor at Strike, an electromagnetic high anomaly approximately 500 m along strike from hole S22-013, which returned 0.43% U3O8 over 0.10 m from 145.70 to 145.80 m in Fortune Bay's 2022 drilling (see news release dated December 7, 2022). True thickness of that historical drill core interval has not been determined. Three zones of anomalous radioactivity were intersected in S26-014 (Table 1), including 378 cps over 0.56 m from 111.27 to 111.83 m down hole (Figure 4). This intersection, hosted in graphitic pelite, is associated with intense fracturing and minor pervasive and fault-associated hematization. S26-015: This hole tested target J5 on the J Conductor at Strike. Radioactivity of 300 cps was reported in three discrete intervals (Table 1; Figure 5), hosted in pelitic gneiss underlying a heavily structured, mylonitized granite. S26-017: Tested target J4 on the J Conductor at Strike. Anomalous radioactivity (Table 1, Figure 6) is hosted in pelitic gneiss and is associated with pervasive and fracture-hosted hematization and significant faulting. S26-020: This hole tested down-dip of the Tena historical adit at Strike. Fortune Bay drilling in 2022 highlighted the possibility of an inflection zone in the structure hosting the Tena mineralization. S26-020 was drilled targeting this zone to test for a potentially larger mineralized footprint associated with structural dilation. Anomalous radioactivity was intersected in multiple intervals as detailed in Table 1. The elevated radioactivity is hosted in pelitic gneiss and is associated with variable amounts of brittle faulting and hydrothermal alteration. Figure 7 shows radioactivity averaging 1,890 cps over 0.20 m (60.03 to 60.23 m) within a broader interval averaging 489 cps over 1.90 m (59.13 to 61.03 m) down hole, associated with faulting and hematization. Table 2: Murmac and Strike Drill Hole Information Hole ID Project Target ID Easting Northing Azimuth Dip Length (m) M26-033 Murmac A12 632152 6592274 335 -45 231.6 M26-034 A8 631526 6591054 335 -45 235.4 M26-035 A5 630852 6589823 330 -45 262.1 M26-036 P4 630229 6592666 155 -45 210.2 M26-037 P8 630183 6591890 330 -60 209.1 M26-038 H3 629884 6587474 330 -45 221 M26-039 H14 629165 6586006 350 -45 188 M26-040 A1 628210 6586423 345 -45 161 M26-041 A27 627668 6585560 330 -45 169 M26-042 HE1 631572 6587139 340 -45 200 M26-043 A26 629473 6587702 340 -45 217 M26-044 A25 630487 6589459 335 -45 161 M26-045 H19 631014 6589167 335 -45 200 M26-046 A24 631794 6591176 335 -45 158 M26-047 A23 632351 6592817 315 -45 155 S26-014 Strike K5 609830 6602890 315 -45 161 S26-015 J5 609073 6604664 210 -50 200 S26-016 J6 609383 6603921 15 -45 221 S26-017 J4 607509 6604733 135 -45 202 S26-018 K7 610902 6604500 330 -50 161 S26-019 L4 611799 6605534 320 -45 151 S26-020 Tena 609145 6601546 345 -45 101 S26-021 Tena 609116 6601528 340 -60 131 S26-022 L3 611481 6603900 295 -45 220 Notes: Coordinates are reported in UTM Zone 12N (NAD83 datum). Azimuths are referenced to true north. Murmac target prefixes denote: A = Armbruster Corridor; H = Howland Corridor; P = Pitchvein Corridor; and HE = Howland East Conductor. Strike target prefixes J, K and L refer to the corresponding conductors identified by airborne electromagnetic surveying (Figure 1). Next Steps Drill core samples have been collected systematically from all zones with radioactivity greater than 300 cps and have been submitted to SRC Geoanalytical Laboratories in Saskatoon for U3O8 assay and multi-element characterization. The Company will integrate these results with detailed geological logging to prioritize follow-up targets and assess additional regional targets for future drilling. Option Agreement As of April 30, 2026, Manhattan had earned an initial 51% interest in the Murmac and Strike Uranium Projects under the option agreement dated December 15, 2023, as amended. Manhattan retains the right to increase its interest to 70% by satisfying the remaining option requirements. The full earn-in comprises cumulative commitments of C$6 million in exploration expenditures, C$1.35 million in cash payments and C$2.15 million in common shares, including amounts already funded, paid or issued. Fortune Bay continues as operator during the option period and is entitled to a 10% management fee on exploration expenditures. Technical Disclosure Preliminary radiometric results represent total gamma from NQ drill core measured with a Super-SPEC RS-225 handheld spectrometer reported in counts per second ("cps"). Measurements are typically collected over 0.10 to 0.15 metre intervals through areas of anomalous radioactivity (defined as >300 cps). Longer intervals with less variation are shown as length-weighted averages for simplicity. Core is removed from the core box and moved, if necessary, to a location where the instrument reads below background, and the measurement is collected by placing the sensor against the core at the required location. The drill cores are subject to comprehensive logging and sampling to characterize mineralization, alteration and structure. Drill core samples have been submitted to the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories (ISO/IEC 17025:2017 accredited) for uranium assay and multi-element characterization. Further details regarding the historical uranium occurrences noted in this news release (historical mines in Figure 1) can be found within the Saskatchewan Mineral Deposit Index (SMDI). Photographs of drill core in Figures 2 through 7 are provided for illustrative purposes only. Photographs and visual observations are not reliable indicators of uranium grade or continuity and should not be relied upon as substitutes for chemical assay results. Assay results for the current program are pending. Qualified Person The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick, P.Geo., VP Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101. About Fortune Bay Fortune Bay Corp. (TSXV:FOR; FWB:5QN; OTCQB:FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. The Company's primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management.  About Manhattan Uranium Discovery Corp. Manhattan Uranium Discovery Corp. (TSXV: MANU, OTCQB: MAUUF, FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin. Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance. For more information about Manhattan, please visit: www.manhattanuranium.com. On behalf of Fortune Bay Corp. "Dale Verran" Chief Executive Officer 902-334-1919 Cautionary Statement Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Fortune Bay Corp. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2026/03/c8667.html Contact: For more information, please visit www.fortunebaycorp.com or contact [email protected].