Fortune Bay Corp. provided a corporate update on its exploration and development projects in Saskatchewan, Canada and Chiapas, Mexico. The Company plans to actively explore and evaluate opportunities to further advance Goldfields.

Such opportunities may include finding a suitable partner or investment to advance the project, sale of the asset, or other strategic transaction, with the objectives of realizing value for the asset, safeguarding capital, and minimizing shareholder dilution. Recently, Fortune Bay has been undertaking a detailed review of its 100% owned Ixhuatan Project ("Ixhuatan") located in Chiapas State, Mexico. Located in a highly favourable geological setting that parallels most of the giant porphyry systems worldwide, the project offers multiple exploration and development opportunities, including: Resource expansion and development of the epithermal gold-silver Campamento deposit, which includes a historical gold resource of 1,041,000 ounces in the Measured and Indicated categories (17.6 million tonnes at an average grade of 1.84 g/t gold) and 703,000 ounces of gold in the Inferred category (21.8 million tonnes at an average grade the 1.01 g/t gold).

Numerous additional epithermal gold-silver zones, including historical drill intersections of mineralization, that warrant further exploration. Historical exploration focused on near-surface epithermal gold in the cover rocks. A precedent for a copper-gold mineralizing system is evident, including a historical drill hole (IXCM08-51) within the Cerro La Mina porphyry-related breccia pipe that intersected 601.4 metres at an average grade of 0.3% copper, 0.7 g/t gold and 2.7 g/t silver (0.8% copper equivalent) starting from surface and ending in mineralization, in addition to historical copper-gold mining immediately to the north of Ixhuatan at Santa Fe.

Prior to any future field work, it is necessary to reach respectful agreements with the communities to provide access to private or common use lands. Located near Goldfields, the Company's uranium projects have high-grade uranium potential typical of Athabasca Basin basement-hosted deposits. Initial exploration, testing this model, delivered highly encouraging results including intersections of uranium mineralization within favorable geological settings.