Fortune Bay Drills 9.9 g/t over 7.0 m within 3.7 g/t over 21.0 m in Large Step-Out from Box Deposit High-Grade Step-Out Supports Resource Growth Potential and Reinforces Upside at Goldfields
TSXV: FOR | FWB: 5QN | OTCQB: FTBYF
fortunebaycorp.com
NEWS RELEASE
1969 Upper Water Street, Suite 2001, Purdy’s Wharf Tower II, Halifax, NS B3J 3R7 T 902.422.1421 | F 902.491.4281
Fortune Bay Drills 9.9 g/t over 7.0 m within 3.7 g/t over 21.0 m
in Large Step-Out from Box Deposit
High-Grade Step-Out Supports Resource Growth Potential and Reinforces Upside at Goldfields
HALIFAX, NS – April 21, 2026 – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) (“Fortune
Bay” or the “Company”) is pleased to report new high-grade drill intersection s from a large step-out hole
from the Box Deposit, located within its 100% owned Goldfields Gold Project (“Goldfields” or the “Project”)
in Saskatchewan.
Highlights:
• 3.70 g/t Au over 21.0 m from 342.0 m to 363.0 m, including 9.89 g/t Au over 7.0 m, intersected in
hole B26-350
• Large 135 metre step-out from previous drilling at the Box Deposit – the furthest down-dip drill hole
to date
• Intercept is located 140 metres outside of the current open -pit constrained Mineral Resource
Estimate (“MRE”) and 140 metres down-plunge of previous Zone A high-grade intercepts including
18.05 g/t over 6.0 m, 5.16 g/t over 12.0 m and 8.35 g/t over 9.0 m
• Mineralization remains wide open at depth and through the Goldfields Syncline
• Result supports meaningful mineral resource growth potential at Goldfields
“This result shows that the Box deposit continues well below the current pit -constrained resource,”
commented Gareth Garlick, VP Technical Services. “B26 -350, the largest step -out hole drilled at Box so
far, returned a strong high-grade result well beyond the current resource boundary, and the mineralization
remains open at depth. This points to clear potential to grow the deposit and supports our view that the
Goldfields Syncline hosts a much larger gold system.”
Drill Hole Details and Assay Results
The Box Deposit remains a key target for mineral resource growth at Goldfields, particularly below the limits
of the current pit-constrained Mineral Resource Estimate (“MRE”). As part of the 2025/2026 winter drilling
program, the Company completed two larg e step-out holes, B26 -350 and B26 -349, to test the down -dip
and southern extents of the mineralizing system below the Box deposit and more broadly evaluate the
potential of the Goldfields Syncline.
Drill hole B26-350 was designed as a large 135 metre step-out hole and represents the furthest down -dip
hole drilled at Box to date. The hole successfully confirmed the continuation of strong gold mineralization
at depth within the Box Mine Granite (“BMG”) , returning 3.7 g/t Au over 21.0 metres, including 9.9 g/t Au
over 7.0 metres, with mineralization remaining wide open. This high -grade intersection is located
approximately 140 metres outside of the current open -pit constrained MRE and 140 metres down-plunge
of Zone A that includes drill intersections of 18.05 g/t over 6.0 m (231.4 to 237.4 m; B07-294),
5.16 g/t over 12 m (231 to 243 m; B11-316) and 8.35 g/t over 9.0 m (240 to 249 m; B07-292) (see Figure
1). These results further support the potential for future mineral resource expansion.
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A second large step-out hole, B26-349, was completed approximately 80 metres along strike from B26-350
and 140 metres down-dip of previous drilling to test the southern extent of the system. The hole returned
multiple mineralized intervals within the BMG, including high-grade intervals of 6.46 g/t Au over 1.0 metre
and 6.21 g/t Au over 1.0 metre. These results further support the strength and continuity of the Box
mineralizing system and highlight the potential for additional resource growth in this area.
These results build on the three initial drill holes previously reported in the Company’s news release dated
March 3, 2026, which also confirmed the continuation of high-grade mineralization at depth.
All three of the initial Box holes (B25-346, B25-347 and B25-348) and the two subsequent large step -out
holes (B26-349 and B26 -350), completed as part of the winter 2025-2026 drilling program , successfully
intersected the mineralized BMG at or near the depths predicted by the geological model. Observed
mineralization characteristics, including quartz vein orientation, thickness, and vein density, are consistent
with those documented elsewhere wi thin the deposit , demonstrating strong continuity of the mineralizing
system.
Higher gold grades at the Box Deposit are typically associated with discrete north-south trending structural
zones exhibiting increased quartz vein intensity. These higher -grade zones, which extend below the base
of the Updated Preliminary Economic Assessment (“Updated PEA”) open pit, present attractive targets for
follow-up delineation drilling aimed at expanding mineral resources.
Current exploration d rilling at Box is oriented toward the east at moderate dips in order to intersect the
structural zones at the highest possible angle, closest to true thickness, while also maximizing internal
coverage of the BMG in each hole. The two large step-out holes were drilled at dips of -66 to -68º to maintain
a high angle of intersection with the structural zones, but minimize excessively long hole lengths that would
be associated with shallower angles.
Table 1: Assay results for drill holes B26-349 and B26-350.
Hole ID From (m) To (m) Length (m) Au (g/t) Collar
Location
Azimuth /
Dip
B26-350
342.00 363.00 21.00 3.70
E640315 /
N6592823 095 / -66
incl. 356.00 363.00 7.00 9.89
383.00 387.00 4.00 1.31
397.00 401.00 4.00 1.39
439.00 440.00 1.00 1.32
B26-349
355.00 359.00 4.00 0.55
E640235 /
N6592760 100 / -68
375.00 381.00 6.00 1.31
422.00 426.00 4.00 1.96
440.00 441.00 1.00 1.67
Notes:
1. Results shown are assays from samples of varying length (typically 1 metre) composited into longer intervals with a
minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.
2. Lengths shown represent core length. True thickness of the mineralized intercepts is expected to be approximately 75%
of the core length based on the dominant mineralized quartz vein orientations at Box, however this may vary on an
individual sample basis.
3. Drill hole locations are provided in NAD83 UTM Zone 12N. Hole azimuths are true north.
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Figure 1: Box Deposit Down-Dip Assay Results (Section Location shown in Figure 2).
The Company is continuing detailed geological and structural analysis of the drill core s from B26 -350,
together with results from previous drilling, to refine its understanding of controls on higher -grade
mineralization and support targeting for future drill programs. The intersection further supports the potential
for the delineation of mineral resources beneath the current conceptual pit limits.
2025-2026 Winter Exploration Drilling Program: Golden Pond and Frontier Assays Pending
The Company has now completed its 2025/2026 winter exploration drilling program at Goldfields that
consisted of 15 exploration drill holes (3,701 metres) (see Figure 2). The objective of the program was to
commence targeting potential resource additions in proximity to planned mine infrastructure.
Assay results have now been received and reported for all five drill holes completed at the Box deposit,
while results for the seven holes drilled at Golden Pond (578 assays) and three holes drilled at Frontier
(135 assays) remain pending. Turnaround times for the remaining assays have been longer than expected
due to delays at the independent analytical laboratory, a matter outside of the Company’s control.
Additional exploration drilling is planned for Athona West and Triangle.
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Figure 2: Goldfields Exploration Drilling and Status.
Technical Disclosure & Qualified Person
All exploration drilling is being carried out with NQ diameter. Core trays are transported directly from the
drill rig to the Company’s logging facility in Uranium City. Sample intervals are selected for assay based on
observations of lithology type, presence of quartz ve ins and sulphides. These intervals are marked up for
continuous sampling with one metre sample increments (adjusted where necessary to not cross lithological
boundaries). Core is sawn in half along the core axis for sampling, with the remai ning half preserved and
stored in the core box. Samples are bagged and placed in plastic pails sealed with security tags for export
by air freight to Saskatoon (CA).
All samples are being processed at SRC Geoanalytical Laboratories in Saskatoon. Samples from the Box
deposit are analysed by a screened metallics method, which includes; (1) crushing and homogenization of
the entire sample; (2) split off a representative 1 kg split for analysis; (3) pulverizing the split with 95 %
passing 150 mesh; (4) screening the split at 150 mesh; (5) assay the entire +150 mesh fraction; (6) duplicate
assay of two 30 g splits of the -150 mesh fraction; and (7) calculation of the weighted average gold content
(in g/t) for the entire sample. Assay is carried out by fire assay with a gravimetric finish.
Certified reference blank and standard material is being used by the Company for independent QAQC of
assay results. QAQC samples are inserted into assay sample sequences and results are reviewed to
assess for any potential laboratory contamination and to v erify assay accuracy and precision. A selected
suite of samples will also be sent to another laboratory for additional “umpire” assay testing to further verify
the results.
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The Goldfields MRE, prepared in accordance with NI 43-101 and the CIM Definition Standards, comprises
24.0 Mt at 1.28 g/t Au for 0.99 Moz in the Indicated category and 7.4 Mt at 0.90 g/t Au for 0.21 Moz in the
Inferred category, effective September 11, 2025, including Box: 16.2 Mt at 1.41 g/t Au for 0.73 Moz Indicated
and 3.4 Mt at 1.04 g/t Au for 0.11 Moz Inferred, and Athona: 7.8 Mt at 1.02 g/t Au for 0.26 Moz Indicated
and 4.0 Mt at 0.78 g/t Au for 0.10 Moz Inferred. Details of the Goldfields MRE are available in the Updated
PEA for Goldfields , and are provided in the technical report titled “Goldfields Project Updated NI 43 -101
Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada”, dated October 20, 2025,
prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Co oper, P.Eng.;
Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The
technical report is available under the Company’s issuer profile on SEDAR+ ( www.sedarplus.ca) and on
the Company’s website at www.fortunebaycorp.com.
The technical and scientific information in this news release has been reviewed and approved by Gareth
Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined
by NI 43 -101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under
NI 43-101.
Engagement of Market Maker Services
The Company has retained Red Cloud Securities Inc. (“ Red Cloud”) to provide market stabilization and
liquidity services in accordance with policies of the TSXV. Under the agreement, Red Cloud will trade the
securities of the Company on the TSXV, adhering to regulatory exchange policies, to maintain market
stability and liquidity for the Company’s common shares (“Services”).
In consideration of the Services , the Company will pay Red Cloud $6,000 per month during the term,
payable monthly. The term of engagement is ongoing and may be terminated by either party on 30 days’
prior written notice. The agreement is principally for the purposes of maintaining market stability and liquidity
for the Company's common shares. Red Cloud will not receive any shares or options from the Company
as compensation for Services it will render. Red Cloud is arm’s length to the Company and will be
responsible for the costs it in curs in buying and selling the Company's shares, and no third party will be
providing funds or securities for the market making activities.
Red Cloud Securities Inc. is a Toronto-based Investment Dealer and a member of the Canadia Investment
Regulatory Organization (CIRO), focused on providing a full range of brokerage services to all investor
types focused in the junior resource sector. Its services include Investment Banking, Research, Institutional
and Retail Trading, Institutional Sales, and Retail Investment Advisory services.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR; FWB:5QN; OTCQB:FTBYF) is a Canadian mineral exploration and
development company with assets in Canada and Mexico. The Company’s primary focus is advancing the
Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also ho lds the Poma Rosa Gold-Copper
Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of
Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while
maintaining a strong technical foundation and pru dent capital management. For more information, please
visit www.fortunebaycorp.com or contact [email protected].
On behalf of Fortune Bay Corp.
”Dale Verran”
Chief Executive Officer
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902-334-1919
Cautionary Statement
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, and include, but are not limited to, statements with respect to: the results of
the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV,
IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Pr oject, the
technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the
ongoing ability to work cooperatively with stakeholders, including Indigenous Nations , local Municipalities and local levels of
government. 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 avail able 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 or future plans, statements, explorat ion results, potential
mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could cause actual results to differ materially fr om such forward-looking
information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resou rces to
reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical
test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, poli tical risks,
inability to fulfill the duty to accommodate Indigenous Nations and local Municip alities, uncertainties relating to the availability and
costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in com modity
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 f actors 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 m ore information on Fortune Bay, readers should refer to Fortune Bay's website at
www.fortunebaycorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchang e)
accepts responsibility for the adequacy or accuracy of this release.