8 January 2016
LONDON, ON, Jan. 8, 2016 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to report that SGS Canada Inc. ("SGS") has produced a premium high purity cobalt sulphate heptahydrate sample from cobalt sulphate product previously produced for the Company in a pilot plant from concentrates originating from the NICO Gold-Cobalt-Bismuth-Copper deposit ore. This premium grade ultra-pure sample exceeds the chemical specifications for cobalt sulphate heptahydrate received from several large manufacturers of lithium ion batteries. SGS produced the sample to provide product for testing by a potential off-take customer. The sample was also produced to test minor changes to the process flow sheet the Company plans to utilize at its proposed refinery near Saskatoon, Saskatchewan. Fortune continues to advance discussions for off-take agreements for its cobalt product with potential customers to support project financing.