Fortune Bay Drills Multiple Gold Zones at Goldfields including 6.61 g/t over 5.0 m within 2.54 g/t over 17.0 m Drilling at the Box deposit continues to demonstrate wide-open mineralization beyond the PEA open-pit
TSXV: FOR | FWB: 5QN | OTCQB: FTBYF
fortunebaycorp.com
NEWS RELEASE
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Fortune Bay Drills Multiple Gold Zones at Goldfields
including 6.61 g/t over 5.0 m within 2.54 g/t over 17.0 m
Drilling at the Box deposit continues to demonstrate wide-open mineralization beyond the PEA open-pit
HALIFAX, NS – March 03, 202 6 – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF)
(“Fortune Bay” or the “Company”) is pleased to announce assay results for the initial three drill holes from
the ongoing exploration drilling program at its 100% owned Goldfields Gold Project (“Goldfields” or the
“Project”) in Saskatchewan, one of Canada’s top mining jurisdictions.
The three drill holes were designed to test substantial down -dip gaps in previous drill coverage at the Box
deposit (up to 170 m) targeting resource expansion beyond the open -pit limits defined in the Updated
Preliminary Economic Assessment (“Updated PEA”).
The results confirm the continuation of structurally-controlled, higher-grade mineralization at depth.
Assay Highlights:
• Hole B25-346
o 2.54 g/t over 17.0 m, including
o 6.61 g/t over 5.0 m
• Hole B25-347
o 6.95 g/t over 2.0 m
o 3.72 g/t over 3.0 m
o 4.55 g/t over 3.0 m
o 2.76 g/t over 7.0 m, including
o 5.63 g/t over 3.0 m
o 8.72 g/t over 2.0 m
• Hole B25-348
o 2.29 g/t over 9.3 m, including
o 4.68 g/t over 3.0 m
Gareth Garlick, VP Techn ical Services, commented, “These results add to a growing inventory of strong
assays down dip at Box, reinforcing potential for resource growth through additional delineation drilling .
Gold mineralization remains wide open down dip at Box, and we are looking forward to additional assays
from larger step-out holes that have recently been completed”.
Dale Verran, CEO, added, “While PFS-level development is advancing for an open-pit mine at Goldfields,
we believe the broader gold resource base has meaningful growth potential through continued expansion
and exploration drilling at numerous targets . With nearly all the PEA open-pit resources already classified
in the Indicated category, we are uniquely positioned to direct our drill budget toward expansion and
discovery rather than resource delineation infill. This provides an opportunity to unlock additional near-mine
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ounces that could further enhance Goldfields’ already robust economics and strengthen the long -term
development profile of the Project.”
Box Deposit – Down-Dip Expansion
As illustrated in Figure 1, the results from B25-346, B25 -347 and B25 -348 contribute to an expanding
dataset of strong down -dip assay intercepts at Box, supporting the potential for delineation of additional
mineral resources.
Figure 1: Box Deposit Down-Dip Assay Highlights
Drill Hole Details and Assay Results
The initial three drill holes at Box were designed to test significant gaps in down -dip drill coverage (up to
170 metres), extending down-dip up to 300 metres beyond the open -pit designed in the Updated PEA . All
three holes successfully intersected the mineralized Box Mine Granite (“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 within the
deposit.
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, extending below the Updated
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PEA open-pit base , present attractive targets for delineation drilling focused on expanding the mineral
resources.
The current drilling at Box is oriented towards the east, with dips as shallow as practically achievable
(approximately -55° to -60°) to intersect structural zones at the highest angle possible (closest to true
thickness) and to maximise the internal coverage of the BMG for each drill hole.
Table 1: Assay results for drill holes B25-346, B25-347 and B25-348.
Hole ID
From (m) To (m) Length (m) Au (g/t) Collar
Location
Azimuth /
Dip
B25-346
228 245 17.0 2.54
X 640436
Y 6593101 070 / -60 incl. 228 233 5.0 6.61
254 273 19.0 1.42
B25-347
297 312 15.0 1.91
X 640362
Y 6593025 083 / -56
incl. 297 299 2.0 6.95
and 305 308 3.0 3.72
355 374 19.0 1.86
incl. 357 360 3.0 4.55
and 367 374 7.0 2.76
incl. 371 374 3.0 5.63
432 434 2.0 8.72
B25-348
273.68 283 9.3 2.29
X 640309
Y 6592953 085 / -62
incl. 275 278 3.0 4.68
294 298 4.0 1.60
309 319 10.0 1.26
Notes:
1. Additional assay results for B25-348 are pending (from 448 to 480 metres)
2. Results shown are assays from 1 metre samples 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.
3. Lengths shown represent core length. True thickness of the mineralized intercepts is expected to be approximately 80%
of the core length based on the dominant mineralized quartz vein orientations at Box, however this may vary on an
individual sample basis.
4. Sample locations are provided in NAD83 UTM Zone 12N. Hole azimuths are true north.
2025-2026 Exploration Drilling Program
The assay results from the three drill holes reported herein form part of a broader exploration drilling
program initiated in late 2025, comprising approximately 3,250 metres of planned drilling. The program is
designed to evaluate opportunities for mineral resource expansion at the Box and Athona deposits, as well
as the potential to define new mineral resources at underexplored historical occurrences including Frontier,
Golden Pond, and Triangle. All targets are located within two kilometres of past -producing and anticipated
future mine infrastructure (Figure 2).
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Figure 2: Goldfields Exploration Potential
Technical Disclosure & Qualified Person
All 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 quart z veins 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 remaining half pr eserved 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 sample processing is being carried out by SRC Geoanalytical Laboratories in Saskatoon using their
screened metallics sample process 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; (3) screening the split at 150 mesh; (4) assay the entire +150 mesh fraction; (5) duplicate assay of
two 30 g splits of the -150 mesh fraction; and (6) calculation of the weighted average gold content (in g/t)
for the entire sample. All 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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Details for the Updated PEA for Goldfields 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
Cooper, 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.
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 holds 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
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
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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, f uture events or
otherwise, other than as required by law. For more 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.