Fortune Bay disputes protected area over Rio Negro

Executive Summary

• Fortune Bay Corp. reports that a new state-level protected natural area decree in Chiapas, Mexico, overlaps with approximately 11% of its Rio Negro concession (Poma Rosa project), specifically impacting the Campamento gold-silver deposit and nearby exploration targets.
• The company has filed an amparo (constitutional challenge) in federal court to contest the application of the decree, citing procedural and constitutional grounds including due process and the supremacy of federal mining rights over state environmental measures.
• Despite the legal challenge, the company states the concession remains valid and in good standing, and it does not expect immediate operational or financial impacts, though timing uncertainty for exploration activities may arise.

Key Details

• Decree Details: On Nov. 19, 2025, the government of Chiapas published a decree establishing the "Zona Sujeta a Conservacion Ecologica Mina Banderas" in the municipality of Pantepec.
• Overlap Impact: The protected area overlaps with approximately 11% of the Rio Negro concession. This overlap includes a portion of the Campamento gold-silver deposit and other nearby exploration target areas.
• Legal Action: Fortune Bay filed an amparo before the appropriate federal court in Mexico.
• Legal Grounds: The challenge argues against the application of the decree based on:
  • Procedural and constitutional grounds.
  • Due process violations.
  • Lack of proper consultation.
  • Conflict between state environmental measures and federally granted mining rights.
• Concession Status: The Rio Negro concession remains valid and in good standing under federal Mexican mining law.
• Operational Status: The company has made progress in stakeholder engagement and negotiations with local landowners for exploration agreements. No immediate operational or financial impact is expected beyond potential timing uncertainty.
• Next Steps: The company is working with Mexican legal counsel to assess the scope of the decree and the amparo process, with further updates to be provided as appropriate.

Notable Quotes

• "The purpose of the amparo is to preserve the company's rights under its existing concession while the matter is reviewed by the court."
• "As of the date of this release, the company does not expect any immediate operational or financial impact beyond potential timing uncertainty."