Fortune Bay Corp. · TSXV:FOR
Fortune Bay — Investor Presentation (October 2021)
38 slides from Fortune Bay's investor presentation, October 2021
Slide 1: An exploration & development Company poised for growth
Exploration & Development An exploration & development Company poised for growth… Corporate Presentation October 2021 TSXV: FOR Frankfurt: 5QN
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 - The current mineral resource estimate, with an effective date of
Slide 3: Fortune Bay at a Glance
Fortune Bay at a Glance… Projects (100% owned) Location Commodity Status Current Activities Uranium Projects Northern Gold Flagship advanced gold Expansion drilling and Goldfields Project project development Saskatchewan exploration & development asset studies Goldfields Project Strike & Northern Hi
Slide 4: Why Invest?
Why Invest? Gold Ounces High-Quality Projects Team & Strategy … Poised for Growth in the Ground Drill-defined mineral resources 100% owned Experienced technical team Attractive valuation with opportunity (current & historical) across two Good jurisdictions (Canada & Mexico) Board & management with p
Slide 5: Experienced Team
Experienced Team 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 involved in the discovery
Slide 6: Capital Structure & Ownership
Capital Structure & Ownership As of August 31, 2021 Capital Structure Ownership Issued & Outstanding 33.3M Management Options 1.6M & Board Management & Board Warrants 5.0M aligned with 19% shareholders 81% Market Capitalization Public Share Price C$0.65 Market Cap. C$21.6M Cash C$1.8M 6
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 ► Approx. 1 Moz of open-pit constrained Indicated resources @ 1.34 g/t Goldfields Project, ► Historical PFS in 2011 showed robust economics at C$1,250
Slide 8: Goldfields - Overview
Goldfields - Overview ► Top Ranked Jurisdiction ► Saskatchewan ranked #1 in Canada, ranked #3 globally 1 ► Stable, transparent, mining friendly ► Established Project Infrastructure ► Facilities: ► 13 km from Uranium City (airport, accommodations, supplies, historical mining hub) Beaverlodge Lake ► R
Slide 9: 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 10: Goldfields Historical 2011 PFS - Summary
Goldfields Historical 2011 PFS - Summary Box Deposit Athona Deposit Total / Overall 2011 PFS - Infrastructure Plan 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 Moz @ 1.5 g/t Au Resources (13.8 Mt) (7.0 Mt) (20.9 Mt) 0.5 g/t Au
Slide 11: Goldfields 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$2,250 Gold Price per September 2021 Oz Used (CAD = 0.96 USD) C$159M C$601/oz CAPEX14% Contingency Operating Cost Project NPV vs
Slide 12: Goldfields – Development Opportunities
Goldfields – Development Opportunities 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 grade,
Slide 13: Goldfields – Box Exploration Opportunities
Goldfields – Box Exploration Opportunities Boundary of mineral resources Isometric View - Vein Model within Box Mine Granite (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 conta
Slide 14: Goldfields – Box Phase 1 Drilling
Goldfields – Box Phase 1 Drilling Drill Hole Locations (initial three drillholes): Plan View (looking down) Surface Long View (looking northwest) 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 mod
Slide 15: Goldfields – Box Phase 1 Drilling Results
Goldfields – Box Phase 1 Drilling Results • Assay results for initial three (3) drill holes completed at Box • Expansion of mineralization down-dip of up to 220 metres outside of the extents of the current 2021 mineral estimate for Box (100 metres down-dip of mineralization intersected previously ac
Slide 16: Goldfields – Athona Exploration Opportunities
Goldfields – Athona Exploration Opportunities Boundary of mineral resources Isometric View (constraining open-pit) Plan 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 mineral resource estimate South D
Slide 17: Goldfields – Athona Phase 1 Drilling Results
Goldfields – 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
Slide 18: Goldfields – Property Exploration Potential
Goldfields – Property Exploration Potential Golden Pond Potential for a larger mineralized system within the Goldfields Frontier Lake Triangle Syncline Box Goldfields Syncline Athona LB-88-3 Historical Drill Hole LB-88-3 4.02 g/t over 3.0 m (493.5 to 496.5 m) Quartz veining within 500 m interpreted
Slide 19: Goldfields – Road Map
Goldfields – Road Map 2020 2021 2022 and Onward (Not to Scale) Continued Exploration Exploration Phase 1 - Drilling Phase 2 - Drilling Delineation Drilling Resource Update New Mineral Pre-Feasibility Detailed Construction Project Development Resource Estimate Scoping / Studies Study / PEA Feasibilit
Slide 20: Two Uranium Projects with High-Grade Potential
Two Uranium Projects with High-Grade Potential The Athabasca Basin: The world’s premier district for high-grade uranium High-grade uranium NORTHWEST TERRITORIES potential typical of the Strike SASKATCHEWAN Athabasca Basin margin Uranium Project Beaverlodge Goldfields West Lorado Uranium Project The
Slide 21: Why Fortune Bay Uranium?
Why Fortune Bay Uranium? A dominant land position of the EM conductors in Canada’s original uranium mining district Experienced Team Ground geophysics & drilling ► Over 20 years combined Athabasca uranium permit applications submitted exploration experience (Denison Mines, Fission Uranium & Cameco C
Slide 22: Strike Uranium Project
Strike Uranium Project Exploration Potential Historical results confirmed through recent surface rock Known uranium endowment: assays, highlighted by: • 1.75% U3O8 (Tena Zone) High-grade (>1% U3O8) historical uranium occurrences • 3.51% U3O8(Point Claims) Anomalous radioactivity in basement unit
Slide 23: Strike Uranium Project
Strike Uranium Project Airborne VTEM Airborne Magnetics High-Quality Existing Datasets; Very Limited Previous Drilling: • High-quality datasets acquired by Cameco 2004 to 2007 (see Figures on right). No drilling completed. Ground EM • Only 7 historical drill holes on the property to date (according
Slide 24: Strike Uranium Project – Tena Occurrence
Strike Uranium Project – Tena Occurrence Tena Occurrence Tena Occurrence – Historical Adit 0.013% U3O8 Elevated V, • Discovered 1948 Pb, B & Cu (2) • Four, en echelon, east trending fractures (12 to 43 m apart) hosting pitchblende, hematite and calcite, with strongly hematized wall rocks • Locally g
Slide 25: Goldfields West Uranium Project
Goldfields West Uranium Project Exploration Potential Previous Focus on Gold Exploration - Underexplored 1.32% U3O8 / 0.6 m(2) Abundance of Uranium Occurrences 1.01% U3O8 / 2 m(1) 2.14% U3O8 / 0.7 m(2) 2.19% U3O8 / 0.5 m(1) 1.46% U3O8 / 0.5 m(2) High-grade (> 1% U3O8) historical uranium occurrence
Slide 26: 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 27: 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 intersections1: ► 100 meter
Slide 28: 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 ► Mineralized gold-silver-copper porphyry system 144 - 1969 106 - 144 Cacate Zone ► Best intercept 0.68 g/t Au,
Slide 29: Fortune Bay Valuation
Fortune Bay Valuation Attractive relative valuation with opportunity for re-rating $100 10.0 $88 Radisson Auteco Fury Gold Bonterra Inferred EV/Resource (US$/oz) $75 $68 Maritime Rockhaven $56 M&I Anaconda $50 $48 $50 $39 $36 $33 $30 $29 Matador Probe $23 $23 Grade (g/t Au) $25 $20 $16 $16 $15 $15 O
Slide 30: Investor Highlights
Investor Highlights ► Drill-defined resources ► Exploration potential ► Experienced team ► Poised for growth For more information visit www.fortunebaycorp.com 30
Slide 31: Appendix
Aw FORTUNE BAY Appendix 1
Slide 32: 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 33: 2011 PFS - Simplified Mill Process Flow Diagram
2011 PFS - Simplified Mill Process Flow Diagram 33 Source: 2011 PFS Technical Report.
Slide 34: 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) ► Go
Slide 35: 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 36: 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 37: 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 38: 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