Fortune Bay Corp. · TSXV:FOR
Fortune Bay — Investor Presentation (January 2022)
39 slides from Fortune Bay's investor presentation, January 2022
Slide 1: Gold & Uranium Exploration in Canada's Top-Ranked Jurisdiction
TSXV: FOR | FWB: 5QN Gold & Uranium Exploration in Canada’s Top-Ranked Jurisdiction Corporate Presentation January 2022 Photo: Box headframe and mill frame dating back to 1935
Slide 2: Cautionary Language & Legal Disclaimers
Cautionary Language & Legal Disclaimers Cautionary Statements Technical Reports & Disclosures Information set forth in this presentation contains forward-looking statements that are based on assumptions as of Goldfields Project - The current mineral resource estimate, with an effective date of March
Slide 3: Why Invest?
Why Invest? Gold Ounces High-Potential Projects in the Ground Drill-defined gold resources (current Resource expansion and new & historical) across two projects – see discovery potential next slide Diversification and optionality with both gold & uranium projects Experience … Poised for Growth Board
Slide 4: Gold Ounces in the Ground
Gold Ounces in the Ground Goldfields and Ixhuatán Projects both have drill defined resources Mineral Resources Current Mineral Resources Historical Mineral Resources Goldfields – Box and Athona 1 Ixhuatán - Campamento 2 Ind 0.98 Moz @ 1.34 g/t Au (22.6 Mt) M+Ind 1.04 Moz @ 1.84 g/t Au (17.6 Mt) and
Slide 5: High-Potential Projects
High-Potential Projects Current activities focused in Saskatchewan - Canada’s Top-Ranked Jurisdiction Strike and Murmac Gold Projects (100% owned) Uranium Projects Location Status Current Activities Goldfields Goldfields Project Northern Flagship advanced gold exploration & Expansion drilling and Sa
Slide 6: Experienced Team, Proven Track Record
Experienced Team, Proven Track Record CEO +20 years international experience in the mining and mineral exploration industry. Executive +25 years as accomplished entrepreneur, financier and investor. Chairman Founded or co-founded a number of successful companies, including Keeper Dale Directly invol
Slide 7: Capital Structure & Ownership
Capital Structure & Ownership As of January 7, 2022 Capital Structure Ownership Issued & Outstanding 42.9M Management Options 1.6M & Board Warrants 7.4M 15% 85% Market Capitalization Public Share Price C$0.79 Management & Board aligned with Market Cap. C$33.9M shareholders Cash C$6.5M 7
Slide 8: Established Operational Base in Uranium City
Established Operational Base in Uranium City 8 Photo: Fortune Bay’s core processing facility and core yard right of road
Slide 9: Goldfields Project, Saskatchewan
Development-ready Photo: Box historical headframe, mill frame & powerline ► Approx. 1 Moz of open-pit constrained Indicated resources @ 1.34 g/t ► Historical PFS in 2011 showed robust economics at C$1,250/oz (gold price Goldfields Project, ~C$2,250/oz - June 2021) Saskatchewan ► ► Established projec
Slide 10: Goldfields: Established Infrastructure and Permitted
Goldfields: Established Infrastructure and Permitted Top Ranked Jurisdiction ► Saskatchewan ranked #1 in Canada, ranked #3 globally 1 Uranium City ► Stable, transparent, mining friendly Airport Established Project Infrastructure Goldfields Claims ► Facilities: Murmac Claims ► 13 km from Uranium City
Slide 11: Goldfields Historical PFS: Basis for Future Development
Goldfields Historical PFS: Basis for Future Development Box Deposit Athona Deposit Total / Overall 2011 PFS - Infrastructure Plan Scoped to comply with existing development permit Historical Measured & Indicated Indicated Measured & Indicated Mineral 0.74 Moz @ 1.7 g/t A 0.29 Moz @ 1.3 g/t Au 1.03 M
Slide 12: Goldfields Historical PFS: Demonstrates Economic Potential
Goldfields Historical PFS: Demonstrates Economic Potential Gold Production & Economics 1 Gold Price Per Oz 2011 PFS Upside 81,695 oz Au 13 years Annual Production Life of Mine C$1,250 ~C$2,280 Gold Price per January 2022 Oz Used (CAD = 0.96 USD) C$159M C$601/oz CAPEX14% Contingency Operating Cost Pr
Slide 13: Goldfields: Making the Project Better
Goldfields: Making the Project Better Development opportunities identified for further investigation: Mineral Resources Mining Processing Potential to convert 176 koz @ 0.92 g/t Au Updated open-pit mine plan Simplified flowsheet to improve gold (6.0 Mt) Inferred to Indicated ► Potential for higher g
Slide 14: Goldfields: Making the Project Better
Goldfields: Making the Project Better Box Resource Expansion Opportunities Boundary of mineral resources (constraining open-pit) Surface Plan View 150 m Lake Athabasca N 300 m Zone B Historical Highlights: e: 8.72 g/t over 3.59 m (drill hole B95-219) a c 270 m below surface contained within 45.59 m
Slide 15: Box Phase 1 Drilling
Box Phase 1 Drilling Drill Hole Locations (initial three drillholes): Plan View (looking down) Long View (looking northwest) Surface 2021 MRE Constraining Pit (Conceptual) Vic Lake 2021 MRE Box Mine Granite (“BMG”) model Zone B B21-334 300 m below surface Zone A 2021 MRE BMG B21-335 model (vein sets
Slide 16: Box Phase 1 Drilling Results
Box Phase 1 Drilling Results a) 1.34 g/t / 36 m (312 to 348 m), incl. a) 1.38 g/t / 39 m (273 to 312 m), incl. 18.02 g/t / 1 m 15.04 g/t / 1 m b) 0.71 g/t / 19 m (357 to 376 m), incl. b) 2.02 g/t / 21 m (373 to 394 m), incl. 1.32 g/t / 3 m 29.19 g/t / 1 m c) 1.90 g/t / 10 m (486 to 496 m), incl. 14.
Slide 17: Goldfields: Making the Project Better
Goldfields: Making the Project Better Athona Resource Expansion Opportunities Boundary of mineral resources Plan View (constraining open-pit) Isometric View Athona Mine Granite 150 m N Lake Athabasca 200 m Isometric View - Vein Model 1930-1939 composited high-grade intervals Athona not included in m
Slide 18: Athona Phase 1 Drilling Results
Athona Phase 1 Drilling Results The Athona Phase 1 drilling highlights: • Six diamond drill holes (1,170 metres) on an approximate 50 metre spacing completed at the Athona South target during March and April 2021 • Successful expansion of mineralization to the south, and mineralization remains open.
Slide 19: Potential for a larger mineralized system within the Goldfields Syncline
Potential for a larger mineralized system within the Goldfields Syncline Golden Pond Frontier Lake Triangle Box Hinge Zone Drill Target Testing in 2022 Athona (~2.5 km of strike) LB-88-3 Goldfields Syncline Historical Drill Hole LB-88-3 4.02 g/t over 3.0 m 2022 Exploration Plan1 Q1 Q2 Q3 Q4 (493.5 t
Slide 20: Goldfields – Roadmap to Production
Goldfields – Roadmap to Production 2020 2021 2022 and Onward (Not to Scale) Continued Exploration Exploration Phase 1 - Drilling Phase 2 - Drilling Delineation Drilling Resource Update New Mineral PEA / Pre- Detailed Construction Project Development Resource Estimate Scoping / Studies Feasibility St
Slide 21: Strike & Murmac Uranium Projects, Saskatchewan
High-grade uranium potential typical of the Athabasca Basin margin ► Targeting high-grade basement-hosted deposits, similar to Arrow Strike & Murmac1 (Nexgen Energy) and Triple R (Fission Uranium) Numerous high-grade (>1% U3O8) surface showings Uranium Projects, ► ► The right geological ingredients
Slide 22: The World's Premier District for High-Grade Uranium
The World’s Premier District for High-Grade Uranium NORTHWEST TERRITORIES SASKATCHEWAN Strike Uranium Project The Exploration Target Lorado Gunnar Goldfields Gold Project Murmac1 Uranium Project ATHABASCA BASIN • Shallow, high-grade, basement-hosted uranium • Competent host rocks which allow for con
Slide 23: A Dominant Land Position for Unconformity-Related Targets
A Dominant Land Position for Unconformity-Related Targets in Canada’s Original Uranium Mining District Camsell Portage Schematic cross-section Lake Athabasca Strike Uranium City Uranium Sandstone-hosted Tena Project Beaverlodge deposits Exploration target Basement-hosted deposits Crystalline Basemen
Slide 24: Strike Uranium Project: Drill-Ready
Strike Uranium Project: Drill-Ready Airborne VTEM Airborne Magnetics ► Known uranium endowment ► Historical results confirmed through recent surface rock assays, highlighted by 1.75% U3O8 (Tena Zone) & 3.51% U3O8 (Point Claims) ► Favorable geological setting Ground EM ► Anomalous geochemical pathfin
Slide 25: Historical mining at Tena basement-hosted occurrence
Historical mining at Tena basement-hosted occurrence Tena Occurrence – Historical Adit 0.013% U3O8 ► Historical small-scale mining at Tena Elevated V, Pb, B & Cu (2) ► Over 1,000 tons mined in the 1950’s with reported grades of 0.5% to 3% U (0.6% to 1.51% U3O8 3.5% U3O8) 3,690 ppm Cu, 1,040 ppm Pb 2
Slide 26: Murmac Uranium Project: Overlooked and Underexplored
Murmac Uranium Project: Overlooked and Underexplored ► Previous focus on gold exploration ► Unconformity model not evaluated (EM conductors warrant focus) 1.32% U3O8 / 0.6 m(2) 1.01% U3O8 / 2 m(1) 2.14% U3O8 / 0.7 m(2) ► Abundance of historical high-grade uranium 2.19% U3O8 / 0.5 m(1) 1.46% U3O8 / 0
Slide 27: Ixhuatán Project, Chiapas State, Mexico
Exceptional geological setting ► Historical mineral resource at Campamento gold-silver epithermal deposit Ixhuatán Project, Chiapas ► ► Discovery at Cerro La Mina gold-silver-copper porphyry Numerous other epithermal, porphyry and skarn targets State, Mexico ► Highly anomalous gold in soils across p
Slide 28: Ixhuatán: An Overview
Ixhuatán: An Overview An advanced gold project with exploration and development upside Ownership ► 100% owned by Fortune Bay Corp. ► No royalties or other encumbrances History ► 2004-2007 Linear Gold drilled 282 holes (~70,000 m) ► 2007-2009 Kinross drilled 60 holes (~20,000 m), under option ► No si
Slide 29: Ixhuatán: Potential for Discovery and Advancement
Ixhuatán: Potential for Discovery and Advancement Exploration Potential Gold in Soils ► Large porphyry system at depth giving rise to near-surface epithermal, porphyry and skarn mineralization ► Numerous target areas Cacate Zone ► Cerro La Mina Prospect Au ► Mineralized gold-silver-copper porphyry s
Slide 30: Investor Highlights
Investor Highlights ► Drill-defined gold resources ► Diversification and optionality with both gold & uranium projects ► Resource expansion and new discovery potential ► Experienced team ► Catalysts expected from exploration drilling and project development activities in 2022 For more information vi
Slide 31: Appendix
APPENDIX 31 31
Slide 32: Goldfields – A Brief History
Goldfields – A Brief History History of the Goldfields Project shown against the Inflation Adjusted USD Gold Price Linear – Brigus Gold Corp. (2009 to 2014) Cominco (1935 to 1942) Exploration Initial exploration & development GLR Resources Inc. (1987 to 2009) 12 drill holes totalling ~3,000 m Initia
Slide 33: Goldfields - Permitted for Development
Goldfields - Permitted for Development Box open-pit mine and mill approved for development in May 2008 Key Milestones: Sept 2007 May 2008 June 2020 Revised EIS submitted for Box Mine Approval granted by SK MOE to Permit is valid according to SK MOE and Mill 1 proceed with the development Likely to r
Slide 34: 2011 PFS - Simplified Mill Process Flow Diagram
2011 PFS - Simplified Mill Process Flow Diagram 34 Source: 2011 PFS Technical Report.
Slide 35: Goldfields – Property Exploration Potential
Goldfields – Property Exploration Potential Favourable geological settings to target orogenic-style gold deposits Various historical gold prospects and occurrences to be re-evaluated ► Frontier Lake historical grades range up to 8.16 g/t and 28.18 g/t (narrow vein- style in historical adit) ► Golden
Slide 36: Goldfields – Property Exploration Potential
Goldfields – Property Exploration Potential ► The Box and Athona gold deposits occur along the same stratigraphic contact within the Goldfields Syncline ► Gold mineralization is associated with quartz veining hosted within granitic rocks (“Mine Granites”) ► Further exploration potential exists withi
Slide 37: Ixhuatán – Exploration Target Areas
Ixhuatán – Exploration Target Areas Highlight Intersections Gold in Soils Zone # Holes Hole ID From To Width Au g/t Ag g/t Cu ppm Mo ppm Au PPB IXCM08-51 1.5 602.9 601.4 0.68 2.71 2802 288 > 5017 Cerro la Mina 87 IXCM07-44 256.0 298.0 42.0 2.09 NA 4706 NA 368.1 - 5017 195.9 - 3581 including 266.0 27
Slide 38: Other Interests
Other Interests Huizopa 2% NSR and Production Bonus ► The Huizopa Project is located in the Sierra Madres in Chihuahua, Mexico. The Company has a 2% NSR over future production from the Huizopa Project. The Company also has the right to a production bonus of US$4.0 million payable over two years from
Slide 39: Ixhuatán – Historical Mineral Resources
Ixhuatán – Historical Mineral Resources Cut-off Tonnes Au Grade Ag Grade Project Category Classification Au (oz) Ag (oz) (Au g/t) (000's) (g/t) (g/t) Ixhuatán, Measured & Indicated 0.5 17,560 1.84 1,041,000 7.79 4,400,000 Campamento Deposit, Mineral Resources Mexico1,2 Inferred 0.5 21,750 1.01 703,0