Fortune Bay drills 5 m of 6.61 g/t Au at Goldfields

Executive Summary

• Fortune Bay Corp. released assay results from the first three drill holes of its ongoing exploration program at the 100%-owned Goldfields gold project in Saskatchewan.
• The drilling targeted downdip expansion of the Box deposit, successfully intersecting structurally controlled, higher-grade mineralization that reinforces the potential for resource growth beyond the open-pit limits defined in the updated Preliminary Economic Assessment (PEA).
• The company plans to continue drilling approximately 3,250 meters in the 2025-2026 program to evaluate resource expansion at Box and Athona deposits, as well as new targets including Frontier, Golden Pond, and Triangle.

Key Details

• Hole B25-346: Intersected 2.54 g/t Au over 17.0 m, including 6.61 g/t Au over 5.0 m.
• Hole B25-347: Intersected multiple intervals including:
  • 6.95 g/t Au over 2.0 m
  • 3.72 g/t Au over 3.0 m
  • 4.55 g/t Au over 3.0 m
  • 2.76 g/t Au over 7.0 m (including 5.63 g/t Au over 3.0 m)
  • 8.72 g/t Au over 2.0 m
• Hole B25-348: Intersected 2.29 g/t Au over 9.3 m, including 4.68 g/t Au over 3.0 m.
• Drilling Objective: The three holes were designed to test substantial downdip gaps in previous drill coverage at the Box deposit (up to 170 meters) to target resource expansion beyond the open-pit limits defined in the updated PEA.
• Geological Context: Results confirm continuation of structurally controlled, higher-grade mineralization at depth. Higher grades are associated with discrete north-south-trending structural zones with increased quartz vein intensity.
• Drill Orientation: Drilling is oriented east with dips of approximately -55 to -60 degrees to intersect structural zones at the highest angle possible (closest to true thickness).
• 2025-2026 Program Scope: The broader program comprises approximately 3,250 meters of planned drilling.
• Target Areas: The program aims to evaluate mineral resource expansion at Box and Athona deposits, and define new resources at underexplored historical occurrences: Frontier, Golden Pond, and Triangle. All targets are within two kilometers of past-producing and anticipated future mine infrastructure.
• QA/QC Protocols: Samples processed by SRC Geoanalytical Laboratories using screened metallics sample process method (fire assay with gravimetric finish). QA/QC includes certified reference blanks, standards, and umpire assays at a second laboratory.

Notable Quotes

• Gareth Garlick, Vice-President of Technical Services: "These results add to a growing inventory of strong assays down dip at Box, reinforcing potential for resource growth through additional delineation drilling. Gold mineralization remains wide open downdip at Box and we are looking forward to additional assays from larger stepout holes that have recently been completed."
• Dale Verran, Chief Executive Officer: "While PFS-level development is advancing for an open-pit mine at Goldfields, we believe the broader gold resource base has meaningful growth potential through continued expansion and exploration drilling at numerous targets. With nearly all the PEA open-pit resources already classified in the indicated category, we are uniquely positioned to direct our drill budget toward expansion and discovery rather than resource delineation infill. This provides an opportunity to unlock additional near-mine ounces that could further enhance Goldfields' already robust economics and strengthen the long-term development profile of the project."