Fortune Bay Corp. · TSXV:FOR
Fortune Bay — Investor Presentation (September 2023)
41 slides from Fortune Bay's investor presentation, September 2023
Slide 1: Advancing Potential for Saskatchewan's Next Gold Mine
TSXV: FOR | FWB: 5QN | OTCQX: FTBYF Advancing Potential www.fortunebaycorp.com for Saskatchewan’s Next Gold Mine Corporate Presentation September 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 Sept 5, 2023 Capital Structure Market Capitalization Ownership Issued & Outstanding 42.9M Share Price C$0.20 Management 15% & Board Options 3.1M Market Cap. C$8.6M Warrants 3.0M 85% Public Operational Base in Uranium City, Saskatchewan 3
Slide 4: Experienced Team, Proven Track Record
Experienced Team, Proven Track Record Dale Verran MSc, P.Geo Sarah Oliver CPA CA Wade Dawe BComm Gareth Garlick BSc, P.Geo Chief Executive Officer CFO Executive Chairman Technical Director +20 years mining & exploration +10 years accounting and finance +25 years as accomplished entrepreneur, +20 yea
Slide 5: Well-Positioned
Well-Positioned Enviable Global Gold Resource Base for a Junior Trading Trading at at Significant Significant Discount Discount to to Peers Peers +2.9 Moz gold EV/Resource 3 40 30 US$/oz 20 Strike and Murmac 10 US$5/oz US$2/oz Uranium Projects 0 Peer Average Fortune Bay - Fortune Bay - Goldfields 1
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 Permitted for development Saskatchewan ► ► Exploration and development upside ► 100% owned 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: Substantially De-Risked
2022 PEA Site Layout Substantially De-Risked Mineral Resources ► 99% Indicated Mineral Resources and 1% Inferred used in PEA ► Mineral resource estimate reconciles to within 1% of historical production (64,000 oz gold mined) Mining & Processing: ► Conventional open-pit mining - low strip ratio (3:1)
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 $1,750 Fort
Slide 12: Highly Attractive Valuation
Highly Attractive Valuation Trading comparables with other Canadian open-pit gold projects with studies completed in 2022/2021 at similar gold price Market Cap / Flagship Resource US$ / oz Au or Aueq $5 $8 $10 $13 $19 $33 $40 $82 Spanish Benchmark Bonterra Maritime Skeena Fortune Bay Moneta Gold O3
Slide 13: Key Opportunities - Resource Expansion Potential
Key Opportunities - Resource Expansion Potential ► Box: Mineralization open down-dip outside of mineral resource. Structural alignment of high grades between widely-spaced, deeper 500 m N GP95-7*: Golden holes suggests presence of higher-grade “shoots”. More drilling 5.07 g/t over 15.0 m Pond requir
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 Community Engagement Permitting ► Fortune Bay has built strong, trust-based relationships with ► Project has an approved EIS for Box open-pit mine and mill with communities during its exploration and development phases 5,000 tpd processing capacity that remains va
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: Potential for Major Copper-Gold Porphyry Discovery
Potential for Major Bingham Canyon, Utah, USA Mendicino Fracture Zone 3.2 GT @ 0.88% Cu Copper-Gold Porphyry Discovery “In the last 20 m.y., the formation of giant porphyry copper-molybdenum and copper- gold deposits in the circum-Pacific region has been closely associated with subduction of aseismi
Slide 18: Potential for Major Copper-Gold Discovery
Potential for Major Copper-Gold Discovery Regional Magnetics Helimag RTP Ixhuatán 15 km Ixhuatán Tenement Boundary 10 km 18
Slide 19: Potential for Major Copper-Gold Discovery
Potential for Major Copper-Gold Discovery A’ N El Chichón ► Subduction of a major aseismic ridge ► Thin reactive cover rocks (limestone Historical Highlights: and anhydrite-halite) Santa Fe skarn: 0.6% Cu, 2.4 g/t Au, 120 g/t Ag and 1.30% Pb (mine average grade) ► Favorable structural architecture C
Slide 20: Copper Potential
Copper Potential ► Previous exploration focused on gold in the cover rocks Ixhuatán Tenement Boundary (lithocap) ► Strong copper mineralization at Cerro La Mina & Santa Fe Limestones provides precedent for a copper system Drill collars ► Numerous untested soil copper anomalies Copper anomalies ► Spo
Slide 21: Ixhuatán: Multiple Opportunities
Ixhuatán: Multiple Opportunities Ixhuatán Tenement Boundary ► Advancement of Campamento ► Resource expansion ► PEA Limestones ► Underexplored epithermal gold-silver targets Cacate Zone ► Central, Caracol, San Isidro, Laguna Chica, Laguna Grande, Western, Cacate ► Unexplored copper potential Sandston
Slide 22: Strike & Murmac Uranium Projects, Saskatchewan
High-Grade Athabasca Basin Uranium Potential Strike & Murmac ► Targeting high-grade basement-hosted deposits Uranium Projects, ► Numerous high-grade (>1% U3O8) surface showings Saskatchewan ► Initial drilling discovered uranium in multiple holes ► 100% owned 22
Slide 23: 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 24: 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 25: 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 26: 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 27: Why Invest?
FORTUNE BAY CORP. | TSXV: FOR | FWB: 5QN | OTCQX: FTBYF Why Invest? Poised for Growth… Significant gold resource base @ US$2/oz A plan to unlock value through gold (& copper) project exploration and development Potential upside through partner-funded uranium exploration Experienced board & managemen
Slide 28: Appendix
APPENDIX 28 28
Slide 29: 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 Permitted for development Saskatchewan ► ► Exploration and development upside ► 100% owned 29
Slide 30: Location & Infrastructure
Location & 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 stations 40 kil
Slide 31: 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 32: 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 33: 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 34: 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 35: Strike & Murmac Uranium Projects, Saskatchewan
High-Grade Athabasca Basin Uranium Potential Strike & Murmac ► Targeting high-grade basement-hosted deposits Uranium Projects, ► Numerous high-grade (>1% U3O8) surface showings Saskatchewan ► Initial drilling discovered uranium in multiple holes ► 100% owned 35
Slide 36: 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 37: 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 38: 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 39: 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 40: 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 41: 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