Fortune Bay Corp. · TSXV:FOR
Fortune Bay — Investor Presentation (October 2020)
36 slides from Fortune Bay's investor presentation, October 2020
Slide 1: Advancing the Goldfields Project, Saskatchewan
Gold Exploration & Development Advancing the Goldfields Project, Saskatchewan Corporate Presentation October 2020 TSXV: FOR
Slide 2: Cautionary Language & Legal Disclaimers
Cautionary Language & Legal Disclaimers Forward Looking Statements Technical Reports & Disclosures Information set forth in this presentation contains forward-looking statements that are based on assumptions as of Goldfields Project - A Pre-Feasibility Study (the “2011 PFS Technical Report”), with a
Slide 3: Experienced Team
Experienced Team CEO 20+ years international experience in the mining and mineral exploration Executive 25+ years as accomplished entrepreneur, financier and investor. industry. Chairman Founded or co-founded a number of successful companies, including Dale Directly involved in the discovery of two
Slide 4: Capital Structure & Ownership
Capital Structure & Ownership As of October 9, 2020 Capital Structure Ownership Issued & Outstanding 29.1M Management Options 2.0M & Board Management & Board Warrants 6.8M aligned with 19% shareholders Fully Diluted 37.9M 81% Market Capitalization Public Share Price C$1.20 Market Cap. C$35M 4
Slide 5: Why Invest in Fortune Bay?
Why Invest in Fortune Bay? 2.1 Moz Au M+Ind 2 Advanced projects 1 Company … Re-rating potential 0.9 Moz Au Inf 100% owned Increasing visibility Attractive valuation with Mineral Resources (Historical) Stable, mining friendly Management with proven track opportunity for re-rating across two projects
Slide 6: Historical Mineral Resources & Reserves
Historical Mineral Resources & Reserves 1 Goldfields – Box and Athona 2 P+P 1.02 Moz @ 1.4 g/t Au (22.3 Mt) M+Ind 1.03 Moz @ 1.5 g/t Au (20.9 Mt) Inf 0.23 Moz @ 1.5 g/t Au (4.6 Mt) Goldfields Project. Saskatchewan, Canada Ixhuatán - Campamento 3 1.04 Moz @ 1.8 g/t Au (17.6 Mt) M+Ind includes 4.4 Moz
Slide 7: Goldfields Project, Saskatchewan
An advanced gold exploration project underpinned by a robust historical Pre-feasibility Study Photo: Box headframe and mill frame dating back to 1935 ► 100% owned by Fortune Bay Corp. ► Over 1 Moz of open-pit gold reserves (historical) at 1.4 g/t 1 Goldfields Project, ► Historical PFS in 2011 showed
Slide 8: Goldfields - Overview
Goldfields - Overview ► Top Ranked Jurisdiction ► Saskatchewan is the #1 ranked mining jurisdiction in Canada 1 ► Stable, transparent, mining friendly ► Established Project Infrastructure ► Facilities: ► 13 km from Uranium City (airport, accommodations, supplies, historical mining hub) Beaverlodge L
Slide 9: A Brief History of the Goldfields Project
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 10: Goldfields – Infrastructure & Historical Mineral Resources
Goldfields – Infrastructure & Historical Mineral Resources Box 0.5 g/t COG 1 M+Ind 0.74 Moz @ 1.7 g/t Au (13.8 Mt) Inf 0.18 Moz @ 1.7 g/t Au (3.2 Mt) Athona 0.5 g/t COG 1 Ind 0.29 Moz @ 1.3 g/t Au (7.0 Mt) Inf 0.05 Moz @ 1.1 g/t Au (1.4 Mt) Project Total 0.5 g/t COG 1 M+Ind 1.03 Moz @ 1.5 g/t Au (20
Slide 11: Historical 2011 PFS - Highlights
Goldfields Historical 2011 PFS - Highlights 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$2,500 Gold Price per October 2020 Oz Used (CAD = 0.96 USD C$159M C$940/oz CAPEX14% Contingency Total Operating Cost Project NPV v
Slide 12: Historical PFS – Development Opportunities
Goldfields Historical PFS – Development Opportunities Initial opportunities identified for further investigation: Mineral Resources ► Re-interpretation of mineralization controls ► Potential for higher grade, lower tonnage selective mining & processing ► Potential to convert 0.23 Moz @ 1.5 g/t Au (4
Slide 13: Goldfields – Box Exploration Potential
Goldfields – Box Exploration Potential ► Resource expansion potential at Box and Athona ► Mineralization at Box remains open, specifically at depth ► Meaningful grades and thicknesses intersected outside of the Box historical resource estimate (as shown) ► Potential for structurally controlled highe
Slide 14: Goldfields – Property Exploration Potential
Goldfields – Property Exploration Potential ► Numerous other exploration opportunities ► 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 (
Slide 15: Goldfields – H2 2020 Plan
Goldfields – H2 2020 Plan ► Plans for the Goldfields Project in H2 2020 1,2 are highlighted as follows: ► Mineral resource modelling and estimation ► With the objective of completing an updated mineral resource estimate before the end of Q1 2021 3 to verify historical estimates and classify current
Slide 16: Goldfields – 'Road Map'
Goldfields – ‘Road Map’ 2020 2021 2022 and Onward (Not to Scale) Q1 Q2-Q4 Continued Exploration Exploration Phase 1 - Drilling Phase 2 - Drilling Delineation Drilling Resource Update Updated Mineral Detailed Project Development Resource Estimate Updated Pre-Feasibility Study Feasibility Study Engine
Slide 17: Ixhuatán - Overview
Ixhuatán - Overview ► 100% owned by Fortune Bay. No royalties or other encumbrances. ► Located in the north western portion of Chiapas State, approximately 100 km south of the city of Vilahemosa ► Advanced exploration project, including: ► Campamento gold-silver deposit ► Cerro La Mina gold-silver-c
Slide 18: Ixhuatán - Campamento Deposit
Section 250 Ixhuatán - Campamento Deposit NW-SE Vertical Section: Facing NE 10 metre Projection in and out of Plane ► Porphyry system overprinted by low-intermediate-sulphidation epithermal system ► High grade core > 5 g/t Au ► Lower grade gold envelope 1 g/t Au ► Notable intersections: ► 100 meters
Slide 19: Ixhuatán – Exploration Potential & Next Steps
Ixhuatán – Exploration Potential & Next Steps Exploration Potential Gold in Soils Au ► Numerous target areas with exploration potential PPB > 5017 ► Cerro La Mina 368.1 - 5017 195.9 - 3581 144 - 1969 ► Mineralized gold-silver-copper porphyry system 106 - 144 Cacate Zone ► Best intercept 0.68 g/t Au,
Slide 20: Fortune Bay Valuation
Fortune Bay Valuation $400 $340 Attractive relative valuation with opportunity for re-rating $300 $237 Mkt Cap (C$M) $182 10.0 $161 $154 $200 $146 Radisson Canarc $121 Bonterra Anaconda $87 $81 $80 Maritime $70 $69 $66 $100 Moneta Porcupine $54 $51 $47 $42 ATAC $36 $35 $35 Rockhaven Monarch $0 Matad
Slide 21: Investor Highlights
Investor Highlights ► Historical mineral resource and reserve base across two projects ► 2.1 Moz Au M+Ind and 0.9 Moz Au Inferred, including 1.02 Moz Au Proven & Probable ► Projects located in stable, mining friendly jurisdictions ► Saskatchewan, Canada (Goldfields Project) & Chiapas, Mexico (Ixhuat
Slide 22: Appendix 1
FN FORTUNE BAY Appendix 1
Slide 23: Goldfields – Box Exploration Potential
Goldfields – Box Exploration Potential Box “Mine Granite” model (Sept 2020) Gold grade (g/t) Figure above shows proposed open-pit shell incorporating historical 10 mineral reserves, and mineralized wireframe incorporating historical 5 mineral resources (2011 PFS) 4 2 Drill core sample assay grades >
Slide 24: Goldfields – Athona Exploration Potential
Goldfields – Athona Exploration Potential Mineralized wireframe incorporating historical mineral resources (2011 PFS) Model extends from surface to a depth of ~120 m below surface a: 4.00 g/t over 48.80 m and 3.00 g/t over 30.80 m (drill hole 23) b: 6.00 g/t over 65.80 m and 1.00 g/t over 58.50 m (d
Slide 25: 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 26: Box Mine Deposit - Vein Gold Mineralization
Box Mine Deposit - Vein Gold Mineralization 26
Slide 27: 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 Permit woul
Slide 28: 2011 PFS - Summary
2011 PFS - Summary Box Deposit Athona Deposit Total / Overall Mineral Resources Measured & Indicated Indicated Measured & Indicated 0.5 g/t Au COG 0.74 Moz @ 1.7 g/t Au (13.8 Mt) 0.29 Moz @ 1.3 g/t Au (7.0 Mt) 1.03 Moz @ 1.5 g/t Au (20.9 Mt) Inferred Inferred Inferred 0.18 Moz @ 1.7 g/t Au (3.2 Mt)
Slide 29: 2011 PFS - Project Infrastructure
2011 PFS - Project Infrastructure Preliminary Mill Plant Layout Preliminary Mine Service Complex Layout 29 Source: 2011 PFS Technical Report.
Slide 30: 2011 PFS - Simplified Mill Process Flow Diagram
2011 PFS - Simplified Mill Process Flow Diagram 30 Source: 2011 PFS Technical Report.
Slide 31: 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 32: 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 fr
Slide 33: Consolidated - Historical Mineral Resources & Reserves
Consolidated - Historical Mineral Resources & Reserves Tonnes Au Grade Ag Grade Project Category Cut-off (g/t) Au (oz) Ag (oz) (000's) (g/t) (g/t) Proven & Probable 3 0.33 22,333 1.42 1,020,000 Goldfields, Saskatchewan1,2 Measured & Indicated 0.50 20,860 1.53 1,027,000 Inferred 0.50 4,564 1.54 226,0
Slide 34: Goldfields – Historical Mineral Resources and Reserves
Goldfields – Historical Mineral Resources and Reserves Cut-off Tonnes Au Grade Project Category Classification Deposit Au (oz) (g/t) (000's) (g/t) Box 0.33 16,502 1.51 800,000 Mineral Reserves4 Proven & Probable Athona 0.33 5,831 1.17 220,000 Total 0.33 22,333 1.42 1,020,000 Measured & Indicated Box
Slide 35: 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
Slide 36: Disclosure of Historical Estimates
Disclosure of Historical Estimates In accordance with Section 2.4 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and despite section 2.2, an issuer may disclose an historical estimate, using the original terminology, if the disclosure identifies the follo