Fortune Bay appoints Halas as senior mining adviser

Executive Summary

• Fortune Bay Corp. appointed Ronald (Ron) Halas, PEng, as Senior Mining Adviser for its Goldfields gold project in Saskatchewan, leveraging his 35+ years of experience including his role as COO of Lumina Gold Corp.
• Exploration drilling at the Box deposit has completed 1,125 metres (three holes) as of late 2025, focusing on downdip stepouts outside the current PEA mine pit; first assay results are expected in late January 2026.
• The company is advancing toward a Prefeasibility Study (PFS) in 2026, with metallurgical test work, geotechnical planning, and environmental baseline studies underway, alongside regulatory engagement with the Saskatchewan Ministry of Environment planned for Q1 2026.

Key Details

• Executive Appointment: Ronald (Ron) Halas, PEng, appointed as Senior Mining Adviser on a consulting basis.
  • Background: Former COO of Lumina Gold Corp. (led Cangrejos project to feasibility/acquisition by CMOC Group in 2025); former COO of Global Atomic Corp.; held senior roles at Kinross Gold, Iamgold, Placer Dome, INCO, and PT Freeport Indonesia.
  • Education: Bachelor of Mining Engineering (McGill University), Graduate Diploma in Business Administration (Simon Fraser University).
• Exploration Drilling (Box Deposit):
  • Status: 1,125 metres completed in three drill holes prior to holiday break in late 2025.
  • Objective: Downdip stepouts into gaps in drill coverage within/below current inferred mineral resources, well outside the 2025 updated PEA mine pit.
  • Next Steps: Drilling resumes ~Jan 5, 2026. Targeting extensions of higher-grade structural trends 200–350 metres beyond current resource extents.
  • Assays: Samples sent to SRC Geoanalytical Laboratories (Saskatoon). First-batch results expected late January 2026.
• Prefeasibility Study (PFS) & Development:
  • Metallurgy: Sample processing at SGS Canada (Lakefield, Ont.) for gravity-recoverable and flotation-recoverable gold. Results expected mid-January 2026 to define final PFS scope.
  • Planning: Ausenco Engineering Canada ULC assisting with scope of geotechnical, metallurgical, and geochemical work for PFS initiation in early Q1 2026.
  • Environmental/Geotechnical: Waste rock characterization and baseline terrestrial/aquatic studies expected early Q1 2026.
• Permitting & Stakeholder Engagement:
  • Community Tour: Completed in November 2025 with indigenous communities and municipalities regarding the proposed open-pit mine.
  • Regulatory: Planned engagement with Saskatchewan Ministry of Environment in Q1 2026 following PFS scope finalization.

Notable Quotes

• Dale Verran, CEO: "Ron's appointment comes at an important time for the project. He brings deep, hands-on experience across the life cycle of gold mining projects... His practical, execution-focused perspective significantly strengthens our technical team as this work continues."
• Ron Halas, Senior Mining Adviser: "Goldfields is an excellent project with strong fundamentals... With project development and permitting activities gaining momentum, this is an opportune time to apply my experience in support of Fortune Bay's disciplined approach to project development."