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Fortune Bay Drills 1.20 g/t Gold over 23.2 m and Extends Shallow Mineralized System at Golden Pond, Goldfields
Results confirm shallow gold mineralization and extend the system beyond the historically defined area, with further testing warranted HALIFAX, NS, May 12,
About this update from Fortune Bay Corp.
[{"type":"text","content":" Results confirm shallow gold mineralization and extend the system beyond the historically defined area, with further testing warranted HALIFAX, NS, May 12, 2026 /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) (\"Fortune Bay\" or the \"Company\") is pleased to report assay results from the seven-hole, 771 metre drilling program completed at the Golden Pond target, located within its 100% owned Goldfields Gold Project in Saskatchewan. The Golden Pond drilling formed part of Fortune Bay's 2026 winter exploration program designed to test resource-expansion targets located within two kilometres of past-producing and planned mine infrastructure (Figure 1). Highlights Drilling at Golden Pond verified and extended shallow historical near-surface gold mineralization. All holes intersected gold mineralization, confirming continuity of the targeted mineralized system. GP26-02 returned 1.20 g/t Au over 23.2 m, including 4.68 g/t over 3.2 m, with 12.20 g/t Au over 1.0 m, starting approximately 10 m below surface. Additional shallow intervals include 2.06 g/t Au over 6.88 m in GP26-03 and 8.95 g/t Au over 1.0 m in GP26-05. Drilling extended the shallow mineralized system up to approximately 50 m beyond the historically defined zone of mineralization, with the system remaining open for further testing. Dale Verran, Chief Executive Officer, commented, \"The Golden Pond results are an important addition to our recent exploration success at Goldfields. The drilling validated our revised geological model, confirmed shallow gold mineralization beyond the historically defined area, and demonstrated that the system remains open for further testing. Together with the recent Box deposit step-out results, these results highlight the broader opportunity to expand and add to the Goldfields resource base from targets located close to past-producing and planned mine infrastructure.\" Golden Pond: Targeting Shallow Mineralization with a Revised Geological Model Golden Pond is a historical gold occurrence located approximately 2 km northeast of the Box deposit and historical mine, and represents a compelling target for potential resource expansion. The target does not currently host a mineral resource estimate. Historical drilling at Golden Pond returned near-surface, high-grade gold results, including 16.53 g/t Au over 13.6 m in hole GP88-2....