FORTUNE MINERALS COMPLETES $5M PRIVATE PLACEMENT RFP issued by Northwest Territories Government for Tlicho All-Season Road
December 15, 2017 Issued Capital: 331,497,023
NEWS RELEASE
FORTUNE MINERALS COMPLETES $5M PRIVATE PLACEMENT
RFP issued by Northwest Territories Government for Tlicho All-Season Road
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
LONDON, ONTARIO, Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (“Fortune” or the
“Company”) (www.fortuneminerals.com) announces that, further to its press release dated November
29, 2017, it has closed the previously announced $5, 000,000 non-brokered private placement of units
of securities of the Company (“Units”) pursuant to which 29,411,766 Units were issued.
Fortune is also pleased to report that the Government of the Northwest Territories (“ GNWT”) recently
issued its Request for Proposals (“RFP”) for the construction of the Tlicho All-Season Road (“TASR”)
to the community of Whati. Three international cons ortiums were previously short-listed to finance,
construct and operate the road pursuant to a private-public partnership (“P3”). The TASR is in the late
stages of an environmental assessment (“ EA”) by the Mackenzie Valley Environmental Impact
Review Board and is expected to be completed during the first half of 2018. The RFP has been
released in alignment with the environmental regulatory schedule to provide the time required for the
short-listed proponents to prepare their proposals. Fortune has already received EA approval to
construct a spur road from Whati to the NICO mi ne site as part of its proposed development. Subject
to receipt of project financing and other approvals, Fortune plans to construct the NICO mine and
concentrator using the existing winter ice road for access. The all-season road is required for mine
operations to allow metal concentrates to be transported south to a refinery Fortune plans to construct
in Saskatchewan for downstream processing. The NICO development asset will be a primary
producer of cobalt sulphate for the rapidly expanding lithium-ion battery industry with supply chain
transparency and custody control of product from a Canadian vertically integrated source. The by-
products that will be produced include gold doré, bismuth ingots and oxide, and copper cement.
This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there
be any sale of any of the securities in any jurisdicti on in which such offer, solicitation or sale would be
unlawful. The securities will not be and have not been registered under the United States Securities
Act of 1933 and may not be offered or sold in the United States absent registration or applicable
exemption from the registration requirements.
About Fortune Minerals
Fortune is a Canadian mining company focused on developing the vertically integrated NICO cobalt-
gold-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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FORTUNE MINERALS LIMITED
148 Fullarton Street, Suite 1600, London, Ontario, Canada N6A 5P3
Tel. 519-858-8188 ~ Fax. 519-858-8155
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For further information please contact:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
Tel.: (519) 858-8188
www.fortuneminerals.com
This press release contains forward-looking informati on and forward-looking statements within the meaning of
applicable securities legislation. This forward-looking information includes statements with respect to, among
other things, the Company’s plans to construct a refinery in Saskatchewan in connection with the NICO project,
the timeline for the completion of the TASR, the Company’s plans for the construction of the NICO mine and the
Company’s plans with respect to the production of cobalt sulphate and by-products. Forward-looking information
is based on the opinions and estimates of management as well as certain assumptions at the date the
information is given (including, in re spect of the forward-looking informatio n contained in this press release,
assumptions regarding the Company’s ability to arra nge the necessary financing to continue operations and
develop the NICO project and to construct the related refinery in Saskatchewan, the GNWT’s willingness and
ability to construct the TASR within t he anticipated time frame or at all, gr owth in the lithium-ion rechargeable
battery industry and the economic environment in which t he Company will operate in the future, including the
price of cobalt and other by-product metals, anticipated co sts and the volumes of metals to be produced at the
NICO project). However, such forward-looking informati on is subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially from those projected in the forward-
looking information. These factors include the risks that the Company may not be able to finance and develop
the NICO project or the related refine ry in Saskatchewan on favourable term s or at all, the TASR may not be
built within the anticipated time frame or at all, the ma rket for rechargeable batteries and the use of stationary
storage cells may not grow to the ext ent anticipated, the Company’s production of cobalt and other metals may
be less than anticipated and other o perational and development risks, ma rket risks and regulatory risks.
Readers are cautioned to not place undue reliance on forwar d-looking information because it is possible that
predictions, forecasts, proj ections and other forms of forward-lookin g information will not be achieved by the
Company. The forward-looking information contained her ein is made as of the date hereof and the Company
assumes no responsibility to update or revise it to refl ect new events or circumstance s, except as required by
law.