FORTUNE REPORTS FEDERAL, NORTHWEST TERRITORIES AND TŁĮCHǪ GOVERNMENT APPROVALS FOR THE TŁĮCHǪ ALL-SEASON ROAD Tłı̨ chǫ Road Environmnetal Assessment receives Minister and Tłı̨ chǫ Government approvals
October 30, 2018 Issued Capital: 338,603,220
NEWS RELEASE
FORTUNE REPORTS FEDERAL, NORTHWEST TERRITORIES AND TŁĮCHǪ
GOVERNMENT APPROVALS FOR THE TŁĮCHǪ ALL-SEASON ROAD
Tłı̨ chǫ Road Environmnetal Assessment receives Minister and Tłı̨ chǫ Government approvals
LONDON, ONTARIO, Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (“Fortune” or the
“Company”) (www.fortuneminerals.com) is pleased to report that the Responsible Ministers of the
Governments of Canada and the Northwest Territories (“ GNWT”) have accepted the environmental
assessment approval for the T łı̨ chǫ All-Season Road (“ Tłı̨ chǫ Road ”) incorporating the modified
measures developed together with the T łı̨ chǫ Government through the consult to modify process with
the Mackenzie Valley Environmental Impact Review Board (the “ Board”). The T łı̨ chǫ Government
also approved the Board’s recommendation with modifications.
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The T łı̨ chǫ Road involves the construction and operation of a permanent 97-kilometre highway,
extending north from Highway 3 to the Community of Whatı̀ in the Northwest Territorries (“ NWT”).
Fortune’s 100% owned NICO Cobalt-Gold-Bismuth-Copper Project (the “NICO Project”) is located 50
kilometres north of Whatı̀ and the Company has already received environmental assessment approval
to construct a spur road from Whatı̀ to the mine site. Construction of the NICO Project mine and
concentrator is planned using the existing winter ice road, but all-season road access is required for
mine operations in order to transport metal concentrates from the property to a refinery for
downstream processing to value-added metals and chem icals. The NICO Project is a primary cobalt
asset and one of the few projects outside of the Congo that can be developed to support near-term
growing demand for cobalt in lithium-ion batteries needed to power electric vehicles, portable
electronic devices and stationary storage cells to support the growing green economy.
The Honourable Wally Schumann, the Northwest Territories Minister of Infrastructure commented last
Friday, “Improving the highway system across the Northwest Territories helps to keep communities
connected while improving safety for all road users. I am very pleased with today’s decision. Not only
will this project help provide jobs and fosters skills and capacity building for all northerners, especially
in the T łı̨ chǫ region, but it is also another step forward for this government in fulfilling our mandate
commitment to secure funding and advance planning and construction of transportation projects,
including three priority corridors: the Mackenzie Valley Highway, T łı̨ chǫ All-season Road, and Slave
Geological Province Access Corridor.”
Robin Goad, President and Chief Executive Officer of Fortune said, “We are pleased to see the
approval for the T łı̨ chǫ Road from the T łı̨ chǫ Government and the federal and Northwest Territories
Responsible Ministers. This road will contribute to the socio-economic growth of the Northwest
Territories, reduce the cost of living in Whatı̀, enable families to be more connected, and allow
governments to provide services more effectively. It is also an important enabler for the NICO Project
and a catalyst for other exploration, mining and hydro opportunities on T łı̨ chǫ lands in this highly
prospective geological area.”
FORTUNE MINERALS LIMITED
148 Fullarton Street, Suite 1600, London, Ontario, Canada N6A 5P3
Tel. 519-858-8188 ~ Fax. 519-858-8155
The Government of Canada has announced that it will provide up to 25% of the construction costs for
the Tłı̨ chǫ Road through the P3 Canada Fund. The GNWT has also approved funding for construction
of the remaining 75% cost of the road, using a Private Public Partnership (“ P3”) funding structure.
Three international consortia have already been short listed to provide proposals to fund, construct,
operate and maintain the T łı̨ chǫ Road and be repaid by the GNWT with interest. The winning bid is
expected to be announced shortly.
About Fortune Minerals
Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-
Copper project in the Northwest Territories. The Company owns lands in Saskatchewan where it
could construct a refinery to process NICO concentrate to value-added products. Fortune also owns
the Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Project, which is a
potential future source of incremental mill feed to extend the life of the NICO Project mill.
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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 informat ion and forward-looking statements within the meaning of
applicable securities legislation. This forward-looking information includes statements with respect to, among
other things, the construction of the T łı̨ chǫ Road and the Company’s plans to develop the NICO Project.
Forward-looking information is based on the opinions and estimates of management as well as certain
assumptions at the date the informati on is given (including, in respect of the forward-looking information
contained in this press release, assumptions regard ing: the Company’s ability to arrange the necessary
financing to continue operations and develop the NICO Project; the construction of the T łı̨ chǫ Road and the
timing of its completion; the receipt of all necessary r egulatory approvals and the timing thereof; the rezoning of
the Company’s Saskatchewan refinery lands to allow for the construction of a refinery to process NICO
concentrate, if needed, and the timing thereof; growth in the demand for cobalt; the time required to construct
the NICO Project; and the economic environment in whic h the Company will operate in the future, including the
price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at
the NICO Project). However, such forward-looking inform ation is subject to a variety of risks and uncertainties
and other factors that could ca use actual events or results to differ materially from those projected in the
forward-looking information. These factors include th e risks that the Company may not be able to finance and
develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required
permits, approvals and agreements for the development of the Nico Project, the T łı̨ chǫ Road may not be
constructed in a timely fashion or at all, the construc tion of the NICO Project may take longer than anticipated,
the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project,
the inherent risks involved in the exploration and development of mineral properties and in the mining industry in
general, the market for rechargeable batteries and the use of stationary storage cells may not grow to the extent
anticipated, the future supply of cobalt may not be as limit ed as anticipated, the risk of decreases in the market
prices of cobalt and other metals to be produced by the NICO Project, discrepancies between actual and
estimated mineral resources or between actual and esti mated metallurgical recoveries, uncertainties associated
with estimating mineral resources and the risk that even if such resources prove accurate the risk that such
resources may not be converted into mineral reserves , once economic conditions are applied, the Company’s
production of cobalt and other metals may be less than anticipated and other operational and development
risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking
information because it is possible that predictions, fo recasts, projections and other forms of forward-looking
information will not be achieved by the Company. The fo rward-looking information contained herein is made as
of the date hereof and the Company assumes no responsibilit y to update or revise it to reflect new events or
circumstances, except as required by law.