14 May 2026
LONDON, ONTARIO, Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or “the Company”) (www.fortuneminerals.com) announces Wek’èezhì? Land and Water Board (“WLWB”) approval for the Type A Land Use Permit and Type B Water Licence needed to construct and operate the NICO Project Access Road (“NPAR”). The NPAR will connect Fortune’s planned NICO cobalt-gold-bismuth-copper mine and concentrator (“NICO Mine”) in the Northwest Territories (“NWT”) to the territorial highway system where it currently terminates at the community of Whati, 50 km south of the mine. The NPAR is needed for mine construction and operations and for trucking metal concentrates to Enterprise, NWT for transfer to rail and delivery to the Company’s planned hydrometallurgical facility in Alberta for processing (collectively, “the NICO Project”). Fortune and the T???ch? Government are forming a joint venture to pursue funding opportunities to construct the NPAR, which could be extended to Gameti in the future to improve community access and delivery of services, reduce the cost of living, and promote economic opportunities in the central part of T???ch? territory (see news release, dated April 29, 2026).
Fortune is pleased to report that it also recently successfully concluded its Public Hearings for renewal of the NICO Mine Land Use Permit and Water license on April 21 and 22 in Whati. The Company has responded to Undertakings and Information Requests generated from the hearings and will review the draft Water Licence expected to be received later this week. Closing arguments are due June 22nd and June 29th for reviewers and Fortune, respectively, followed by the WLWB making its recommendation to the NWT Minister of Industry Tourism and Investment in July or August for approval. In the interim, Fortune is applying for a 60-day extension to the current Water License due to expire on July 22.
Fortune has also completed the baseline environmental studies for its property in Lamont County, Alberta where it plans to construct the hydrometallurgical facility for processing NICO Mine concentrates. Geotechnical, soils, wetland, and wildlife surveys were completed and permitting will advance when Fortune receives additional engineering for the site needed to provide emissions and stack location data for a regional air quality model for its Environmental Impact Assessment exemption application and operations permits. Environmental considerations are being incorporated into the design of the facility demonstrating that the Company can mitigate potential impacts and reduce permitting delays.