Fortune Bay Corp. · TSXV:FOR
Fortune Bay — Investor Presentation (May 2023)
40 slides from Fortune Bay's investor presentation, May 2023
Slide 1: Gold & Uranium Exploration & Development in Canada's Top-Ranked Jurisdiction
Gold & Uranium TSXV: FOR | FWB: 5QN | OTCQX: FTBYF Exploration & Development in www.fortunebaycorp.com Canada’s Top-Ranked Jurisdiction Corporate Presentation May 2023 Photo: Goldfields Project, 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 - Results for the Preliminary Economic Assessment (“PEA”) were announced
Slide 3: Capital Structure & Ownership
Capital Structure & Ownership As of May 1, 2023 Capital Structure Market Capitalization Ownership Issued & Outstanding 42.9M Share Price C$0.26 Management 15% & Board Options 2.3M Market Cap. C$11M Warrants 7.3M 85% Public Operational Base in Uranium City, Saskatchewan 3
Slide 4: Experienced Team, Proven Track Record
Experienced Team, Proven Track Record Dale Verran MSc, P.Geo Sarah Oliver CPA CA Wade Dawe BComm Gareth Garlick BSc, P.Geo Eric Bort BSc, P.Geo Chief Executive Officer CFO Executive Chairman Technical Director Exploration Manager +20 years mining & exploration +10 years accounting and finance +25 ye
Slide 5: Well-Positioned
Well-Positioned Enviable Global Gold Resource Base for a Junior Trading at Significant Discount to Peers +2.9 Moz gold EV/Resource 3, 4 50 40 (C$/oz) 30 20 Strike and Murmac 10 Uranium Projects 0 Goldfields 1 Peer Average Fortune Bay - Fortune Bay - Goldfields only Global 0.98 Moz Indicated 0.21 Moz
Slide 6: Pipeline of Opportunities to Create Value
Pipeline of Opportunities to Create Value Plans: 2023 2025 2024 Goldfields Target Development (Existing Prospects) Exploration Drilling / Resource Expansion Prefeasibility Feasibility Advancing potential for Saskatchewan’s next gold mine Development Permit Amendment / Supplemental Baseline Studies P
Slide 7: Goldfields Project, Saskatchewan
Advancing Potential for Saskatchewan’s Next Gold Mine Photo: Box historical headframe, mill frame & powerline ► Robust PEA Economics Goldfields Project, ► Established project infrastructure Saskatchewan ► Permitted for development ► Exploration and development upside 7
Slide 8: Gold – Tailwinds for THE Safe Haven Asset
Gold – Tailwinds for THE Safe Haven Asset Opportunity for Gold Juniors Re-rating Strong Outlook for Gold ► Elevated geopolitical risk Big funds haven't been buying gold ► Developed market economic slowdown miner ETFs, but they have been ► Peak in interest rates buying physical gold ETFs ► Risks to e
Slide 9: Goldfields Project 2022 PEA Summary & Sensitivities
Refer to news release dated November 1, 2022 for Preliminary Economic Assessment (“PEA”) summary including important technical & financial GOLDFIELDS PROJECT disclosure and cautionary statement. PEA results are detailed in the NI 43-101 Technical Report (effective date October 31, 2022) available on
Slide 10: 2022 PEA Highlights
2022 PEA Highlights: Mineral Resources ► De-risked mineral resources (99% Indicated and 1% Inferred used in PEA) ► Exploration upside Mining & Processing: ► Low strip ratio (3:1) ► Simple mineralogy (low sulphide, no deleterious elements) ► Free-milling gold Base Case Economics: ► Low initial capita
Slide 11: A Robust & Competitive Project Amongst Peers
A Robust & Competitive Project Amongst Peers Canadian open-pit gold projects with studies completed in 2022/2021 at similar gold price Grade & Production Study & Base Case Gold Company Project Date Price (US$/oz) Bonterra Resources Barry United PEA 2022 $1,600 Maritime Hammerdown FS 2022 $1,750 Fort
Slide 12: Highly Attractive Valuation
Highly Attractive Valuation Trading comparables with other Canadian open-pit gold projects with studies completed in 2022/2021 at similar gold price Market Cap / Flagship Resource C$ / oz Au or Aueq $10 $11 $15 $27 $30 $45 $66 $98 Spanish Benchmark Bonterra Maritime Skeena Fortune Bay Moneta Gold O3
Slide 13: Key Opportunities - Resource Expansion Potential
Key Opportunities - Resource Expansion Potential ► Golden Pond: Mineralized quartz veins in granite, exposed at surface. Sporadic drill coverage, shallow mineralization trend open 500 m N Golden to the northwest and down-dip. GP97-5*: 5.07 g/5 over 15 m Pond ► Triangle: Mineralized quartz veins in c
Slide 14: Key Opportunities - Development
Key Opportunities - Development Gold Recovery ► Detailed metallurgical testing has the potential to improve gold recoveries and reduce processing plant costs Ore sorting ► Initial studies showed potential to improve project economics and reduce tailings volumes Sustainability ► Electrification of mi
Slide 15: Community, Environment & Permitting
Community, Environment & Permitting Permitting Community Engagement ► Project has a valid development permit for Box open-pit mine and mill with ► Commitment to building meaningful, mutually beneficial relationships 5,000 tpd processing capacity with communities, and responsible stewardship of the e
Slide 16: Ixhuatán Project, Chiapas State, Mexico
Top-tier Copper-Gold Potential ► Geological setting parallels most of the giant porphyry deposits worldwide Ixhuatán Project, ► Previous exploration focused on epithermal gold; porphyry system unexplored Mineralization encountered to date is characteristic of the upper portion of a district-scale Ch
Slide 17: Ixhuatán: Potential for Major Copper-Gold Discovery
Ixhuatán: Potential for Major Copper-Gold Discovery Bingham Canyon Mendicino Fracture Zone Subduction Bingham Canyon, Utah, USA 3.2 GT @ 0.88% Cu Tehuantepec Ridge Subduction A’ A Ixhuatán The two prominent aseismic ridges in the NE Pacific Subduction of aseismic ridge = Giant porphyry deposits and
Slide 18: Ixhuatán: Potential for Major Copper-Gold Discovery
Ixhuatán: Potential for Major Copper-Gold Discovery North Google Earth Regional Magnetics American Plate Ixhuatán, Mexico Porphyry target not yet evaluated Caribbean Plate Ixhuatán Regional Magnetic “Bullseye” coincident with Cu-Au target area Cocos Plate Cerro Colorado, Panama 3.5GT M&I @ 0.47% Cu
Slide 19: Ixhuatán: Potential for Major Copper-Gold Discovery
Ixhuatán: Potential for Major Copper-Gold Discovery A’ N Mineralization discovered to date is ElChichón Helimag RTP characteristic of the upper portion of a district-scale Cu-Au-Ag-Mo mineralizing system. Historical Highlights: Santa Fe skarn: 0.6% Cu, 2.4 g/t Au, 120 g/t Ag and 1.30% Pb (mine avera
Slide 20: Ixhuatán: Multiple Exploration Opportunities
Ixhuatán: Multiple Exploration Opportunities Ixhuatán Tenement Boundary Exploration Target Types: • Large copper-gold porphyry (priority copper target) • Copper-gold-silver skarns associated with limestones (e.g. Sante Fé deposits) • Gold-silver epithermal deposits (e.g. Campamento) • Gold intrusive
Slide 21: Strike & Murmac Uranium Projects, Saskatchewan
High-Grade Athabasca Basin Uranium Potential Strike & Murmac ► Targeting high-grade basement-hosted deposits, similar to Arrow (Nexgen Energy) and Triple R (Fission Uranium) Uranium Projects, ► Numerous high-grade (>1% U3O8) surface showings Saskatchewan ► Initial drilling discovered uranium in mult
Slide 22: Uranium – Fuel for a Low Carbon Economy
Uranium – Fuel for a Low Carbon Economy Nuclear is ideal for dealing with climate change, because it is already the only carbon-free, scalable energy source that’s available 24 hours a day” – Bill Gates Annual Utility Uranium Requirements 1 Demand ► Projected demand exceeds current supply forecast G
Slide 23: 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 Murmac Uranium Project ATHABASCA BASIN • Shallow, high-grade • Basement host rocks allow for conventional mining 100 km Significa
Slide 24: A Unique, High-Grade Uranium Exploration Scenario
A Unique, High-Grade Uranium Exploration Scenario ► Canada’s original uranium mining district Camsell Portage Athabasca First-pass (2022) mineralized drill ► High-grade unconformity model not tested Basin intercepts >0.1% U3O8 over 0.1 metre historically despite significant uranium endowment (previo
Slide 25: Uranium Projects Plan & Strategy
Uranium Projects Plan & Strategy Demand for Quality Uranium Projects: Fortune Bay’s Uranium Projects: ► Flood of new entrants into the Athabasca Basin (+20 companies ► 100% owned Canadian & Australian listed) ► Demonstrated potential for high-grade discovery ► Projects with high-potential drill targ
Slide 26: Why Invest?
FORTUNE BAY CORP. | TSXV: FOR | FWB: 5QN | OTCQX: FTBYF Why Invest? A Gold-Focused Junior Poised for Growth… Significant gold resource base A plan to unlock value through gold project exploration and development Project generation poised to create pipeline of growth opportunities Potential upside th
Slide 27: Appendix
APPENDIX 27
Slide 28: Goldfields Project, Saskatchewan
Advancing Potential for Saskatchewan’s Next Gold Mine Photo: Box historical headframe, mill frame & powerline ► Robust PEA Economics Goldfields Project, ► Established project infrastructure Saskatchewan ► Permitted for development ► Exploration and development upside Refer to news release dated Nove
Slide 29: Goldfields: Established Infrastructure
Goldfields: Established Infrastructure Access: ► Gravel road (provincial highway 962) to site from Uranium City ► Winter ice-road from Stoney Rapids, built and maintained by provincial government) ► Summer barge access from Stoney Rapids Power: ► Hydro-power transmission line to site ► Hydro-power s
Slide 30: 2022 PEA: Mine Design and Production
2022 PEA: Mine Design and Production 3.0 : 1 Strip Ratio 22.7 Mt 1.2 g/t Au 835 koz Waste : Resource Total Mill Feed Mill Head Grade Total Ounces Recovered Production Schedule Summary Gold Production Refer to news release dated November 1, 2022 for PEA summary including important technical & financi
Slide 31: 2022 PEA: Metallurgy & Mineral Processing
2022 PEA: Metallurgy & Mineral Processing ► Simple mineralogy, free milling gold Simplified Process Flowsheet ► Extensive metallurgical testwork dating back to 1939 ► No significant metallurgical or environmental hindrances associated with the mineralization ► Key process design criteria derived fro
Slide 32: 2022 PEA: Site Infrastructure
2022 PEA: Site Infrastructure Design Advantages ► Conventional open-pit mining and processing ► Use of existing infrastructure (roads, powerlines, historical tailings facilities) ► Minimized footprint and disturbance to environment ► Best practice closure, salvage and rehabilitation ► No environment
Slide 33: Open-Pit Constrained Mineral Resources
Open-Pit Constrained Mineral Resources Box Resource Model – Looking North Goldfields Mineral Resource Statement, effective date September 1, 2022 Tonnes Au Grade Total Au Deposit Category (Mt) (g/t) (000's oz) Box Indicated 15.8 1.44 729.7 Athona Indicated 7.4 1.06 250.2 Total Indicated 23.2 1.31 97
Slide 34: Strike & Murmac Uranium Projects, Saskatchewan
High-Grade Athabasca Basin Uranium Potential Strike & Murmac ► Targeting high-grade basement-hosted deposits, similar to Arrow (Nexgen Energy) and Triple R (Fission Uranium) Uranium Projects, ► Numerous high-grade (>1% U3O8) surface showings Saskatchewan ► Initial drilling discovered uranium in mult
Slide 35: Strike Uranium: New Discovery of Mineralization
Strike Uranium: New Discovery of Mineralization 2022 Assay Highlights 2022 Drill Program Highlights: ► Nine holes (2,064 m) completed Graphitic faults Graphitic faulting Bleaching and clay Bleaching alteration ► First-pass testing of extensive J, K and L conductor corridors (northern portion of prop
Slide 36: Strike Uranium: New Discovery of Mineralization
Strike Uranium: New Discovery of Mineralization Gravity low Conductor trace Conductor corridors Strike 2022 drill holes Historical U occurrences Hacker Atompower (0.13% U3O8 ) S22-010 Drill hole S22-013: Uranium mineralization in favorable graphitic fault with alteration ► Drill hole S22-013 was sit
Slide 37: Murmac Uranium: Prospective Corridors for Discovery
Murmac Uranium: Prospective Corridors for Discovery Murmac Claims 2022 Drill Program Highlights: Historical drill holes: 1.01% U3O8 / 2.0 m (CKI-9) Historical uranium mines 2.19% U3O8 / 0.5 m (CKI-10) ► First-pass testing of extensive Armbruster, Howland and Pitchvein Historical drill holes Lorado C
Slide 38: Murmac Uranium: The Right Geological Ingredients
Murmac Uranium: The Right Geological Ingredients Mineralization Examples Alteration & Structure Examples M22-012 (target H11): Hydrothermal hematite (oxidation front) at 147 m in contact with strongly graphitic pelite with significant faulting. M22-002 (target A6): Strongly hematized quartzite in co
Slide 39: Murmac Uranium: Support for High-Grade Discovery
Murmac Uranium: Support for High-Grade Discovery Highlight analytical results from 2022 Murmac Prospecting: Lorado Out of ► 8.82% U3O8 from a boulder sample on the Armbruster Corridor providing VTEM compelling support for the presence of high-grade, basement-hosted uranium coverage mineralization on
Slide 40: 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