FORTUNE MINERALS ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS Company also welcomes John McVey to the Board of Directors

FORTUNE MINERALS LIMITED 148 Fullarton Street, Suite 1600, London, Ontario, Canada N6A 5P3 Tel. 519-858-8188 ~ Fax. 519-858-8155

June 20, 2018 Issued Capital: 338,603,220

NEWS RELEASE

FORTUNE MINERALS ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS Company also welcomes John McVey to the Board of Directors

LONDON, ONTARIO, Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) reports that the nominees listed in the management information circular for the 2018 Annual General Meeting of shareholders held on June 19, 2018 (the “Meeting”) were elected as directors of Fortune. Detailed results of the vote for the election of directors are set out below:

John McVey

70,095,438 90.48 % 7,377,882 9.52 % Mahendra Naik

76,732,513 99.04 % 740,807 0.96 % David Ramsay

Edward Yurkowski 76,194,153 98.35 % 1,279,167 1.65 %

Shareholders at the Meeting also approved the appointment of Fortune’s auditors.

Fortune’s board and management team gratefully acknowledge the support and contributions of Shou Wu (Grant) Chen for his service to the Company as a director since April, 2010. Grant was previously Deputy Chairman of China Mining Resources Limited, a significant Fortune shareholder at the time.

Fortune is pleased to welcome Mr. John McVey as a director of the Company at the Annual General Meeting. Mr. McVey is CEO and an Executive Director of the Procon Group of Companies based in Burnaby, British Columbia, a leading full-service mine development and civil infrastructure contractor. John has B.A.Sc and M.A.Sc. Degrees in Chemical Engineering and more than 35 years of experience in the mining, energy and power industries in Canada and internationally. Prior to joining Procon in 2015, John held executive and senior management positions with Bechtel, SNC-Lavalin and Kilborn Engineering. John has also completed the Queen’s Executive Development Program and the Institute of Corporate Directors, Directors Education Program. His knowledge of the engineering and construction industry will benefit Fortune as it develops its NICO cobalt-gold-bismuth-copper development project in Canada.

About Fortune Minerals

Fortune is a Canadian mining company focused on developing the vertically integrated NICO cobaltgold-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. Fortune also owns the Sue-Dianne copper-silver-gold deposit located 25 km north of NICO and a potential future source of incremental mill feed to potentially extend the life of the NICO mill.

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For further information please contact:

Fortune Minerals Limited

Troy Nazarewicz Investor Relations Manager [email protected] Tel.: (519) 858-8188 www.fortuneminerals.com