21 January 2026
Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to announce that it has successfully concluded the validation test work for an optimized hydrometallurgical flowsheet to produce battery grade cobalt sulphate heptahydrate for the NICO cobalt-gold-bismuth-copper project (“NICO Project”) in Canada. The results verified that a high-quality cobalt sulphate heptahydrate product can be generated with very good metal recoveries from a simplified process flow sheet to help mitigate capital and operating costs escalation for the NICO Project. The test work was supported by contribution funding from Natural Resources Canada (“NRCan”)’s Global Partnerships Initiative (“GPI”) program, a U.S. Defense Production Act Title III award and contributions from Alberta Innovates’ Clean Resource Intake program.