Fortune BAY Appoints Patrick Mcgrath as Chief Financial Officer
TSXV: FOR | FWB: 5QN | OTCQB: FTBYF
fortunebaycorp.com
NEWS RELEASE
FORTUNE BAY APPOINTS PATRICK MCGRATH AS CHIEF FINANCIAL OFFICER
HALIFAX, NS December 4, 2025 – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF)
(“Fortune Bay” or the “Company”) is pleased to announce the appointment of Patrick McGrath as Chief
Financial Officer (“CFO”). Mr. McGrath succeeds Sarah Oliver, who will be stepping aside after serving as
CFO since 2016. Ms. Oliver will remain involved over the coming months to ensure a smooth transition.
Patrick McGrath – Experienced Resource-Sector Executive
Mr. McGrath is a seasoned finance executive with over 25 years of experience in the resource industry. He
has held senior leadership roles in multiple public companies, most recently as Chief Executive Officer of
Blue Moon Metals Inc. until November 2024, and previously as Chief Financial Officer and later Chief
Executive Officer of Hemlo Mining Corp. until May 2023, then known as Carcetti Capital Corp., a former
producing oil and gas company in Eastern Europe.
Mr. McGrath holds a Bachelor of Commerce from Memorial University and is a Chartered Professional
Accountant (CPA) in Canada. He brings extensive expertise in corporate finance, capital markets, and
financial strategy, with a proven track record of support ing resource companies through exploration,
development, and growth stages.
Leadership Transition
Ms. Oliver has played a key role in Fortune Bay’s financial stewardship for nearly a decade, ensuring strong
compliance, reporting integrity, and fiscal discipline. Her contributions have been instrumental in positioning
the Company with a solid financial foundation as it advances its gold project portfolio.
Dale Verran, CEO of Fortune Bay, commented, “On behalf of the Board and management team, I am
delighted to welcome Patrick McGrath to Fortune Bay. Patrick’s depth of financial expertise and leadership
experience will be invaluable as we advance our projects and pursue growth opportunities. I would also like
to sincerely thank Sarah Oliver for her many years of dedicated service. Sarah has been a trusted steward
of our financial operations and a valued member of our leadership team. We are grateful for her
contributions and support through this transition.”
Patrick McGrath, incoming CFO, stated , “I am excited to be joining Fortune Bay at such a pivotal and
exciting time for the Company. With a strong project portfolio, a clear growth strategy, and significant
opportunities ahead, I look forward to contributing to Fortune Bay’s success and working w ith the team to
deliver value for shareholders.”
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR ; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development
company advancing high- potential assets in Canada and Mexico. With a strategy focused on discovery,
resource growth and early-stage development, the Company targets value creation at the steepest part of
the Value Creation Curve. Its portfolio includes the development-ready Goldfields Project in Saskatchewan,
the resource-expansion Poma Rosa Project in Mexico, and an optioned uranium portfolio in the Athabasca
Basin providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight
capital structure, Fortune Bay is positioned for multiple near -term catalysts. For more information, visit
www.fortunebaycorp.com or contact [email protected].
2
On behalf of Fortune Bay Corp.
”Dale Verran”
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking Information
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 r efer to
Fortune Bay's website at www.fortunebaycorp.com.
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accepts responsibility for the adequacy or accuracy of this release.