15 December 2025
Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to announce that it has closed the C$3.8 million loan previously announced with Prosper NWT, a public agency of the Government of the Northwest Territories (see November 10, 2025 news release). Fortune has also completed the acquisition of the Lamont County, Alberta site and facilities that were previously held under a purchase option with JFSL Field Services ULC (“JFSL”) (see August 19, 2024 news release). Fortune plans to construct a hydrometallurgical facility at this site (“Alberta Refinery”) to process concentrates from the NICO cobalt-gold-bismuth-copper mine and concentrator in the Northwest Territories (“NWT”) (collectively the “NICO Project”). The NICO Project will provide a reliable North American supply of battery grade cobalt sulphate, bismuth ingots (12% of global reserves) and copper cement - with more than one million ounces of in-situ gold as a countercyclical and highly liquid co-product.