28 October 2025
Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) announces that it has retained P&E Mining Consultants Inc. (“P&E”) to prepare the new Mineral Reserve estimates, mine plan and production schedule for the updated NICO Project Feasibility Study currently in preparation by Worley Canada Services Ltd. (“Worley”) and other engineering companies. The NICO cobalt-gold-bismuth-copper critical minerals project (“NICO Project”) is comprised of a planned open pit and underground mine and concentrator in the Northwest Territories (“NWT”) and a dedicated hydrometallurgical facility in Lamont County, Alberta where concentrates from the mine, and other feed sources, will be processed to value-added products. The new Mineral Reserves and project economics are expected to materially benefit from higher metal prices, particularly gold and bismuth.