Fortune Minerals Extends Option to Acquire the Alberta Refinery Site for the NICO Critical Minerals Project

Dec 22, 2022

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to announce that it has secured an additional extension to the option to purchase the JFSL Field Services ULC (“JFSL”) brownfield site in Lamont County, Alberta (see news releases, dated January 24, 2022, July 14, 2022, and October 3, 2022). Fortune plans to construct a hydrometallurgical refinery at this site for its vertically integrated NICO cobalt-gold-bismuth-copper critical minerals project (“NICO Project”). The JFSL facility is a former steel fabrication plant located on 76.78 acres of lands in Alberta’s Industrial Heartland northeast of Edmonton and has 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. The JFSL site is also close to services, sources of reagents, and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO Project development.

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