HALIFAX,
NS, Nov. 29, 2022 /CNW/ - Fortune Bay Corp.
(TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the
"Company") is pleased to announce its conclusion of an
Exploration Agreement (the "Agreement") that formalizes the
Company's relationship with Ya' thi Néné Lands and Resources
("YNLR"), Hatchet Lake Denesułiné First Nation, Black Lake
Denesułiné First Nation, Fond du Lac Denesułiné First Nation (the
"Athabasca First Nations") and the Northern Hamlet of Stony Rapids, the Northern Settlement of
Uranium City, the Northern
Settlement of Wollaston Lake and
the Northern Settlement of Camsell Portage (the "Athabasca
Municipalities", and together with the Athabasca First Nations, the
"Basin Communities").
The Agreement concerns Fortune Bay's exploration and evaluation
activities (the "Activities") within the traditional territories of
the Athabasca First Nations and in proximity to the Athabasca
Municipalities (the "Nuhenéné") and establishes a progressive basis
for Fortune Bay, YNLR and the Basin Communities to work together to
ensure that the Activities are conducted in a sustainable manner
and with respect for the Aboriginal and treaty rights, title and
interests of the Athabasca First Nations and protection for their
traditional lands. The Agreement provides a framework for
information-sharing and environmental protection and monitoring,
establishes permitting review processes, facilitates the Basin
Communities' meaningful participation in the Activities by
providing economic, employment and training opportunities and
benefits to support community development initiatives, and confirms
the Basin Communities' consent and support for the Activities,
subject to Fortune Bay's performance of its obligations under the
Agreement.
Dale Verran, CEO for Fortune Bay,
commented "Fortune Bay is committed to responsible stewardship
of the environment, and building meaningful, mutually beneficial
relationships with project communities. We are pleased to have
reached this Agreement with the Basin Communities, which formalizes
those commitments and provides consent and support for our current
and future activities. Through this Agreement, we look forward to
building upon the relationships we have established with the
communities and local businesses, as we advance our gold and
uranium projects in the Uranium
City area."
Christopher Toutsaint, YNLR Board
of Director for Fond du Lac Denesułiné First Nation, stated "We
welcome the partnership with Fortune Bay that we are establishing
through this Agreement and the mutual benefits that we will each
realize. Our goal at YNLR, as protectors of the land and promoters
of the people of Nuhenéné, is to ensure our communities
meaningfully participate and benefit from projects happening on our
lands. That is our intent and the commitment being made today with
a partner that acknowledges and respects our rights."
About Ya' thi Néné
Ya' thi Néné is a non-profit organization owned
by the seven Athabasca Basin
communities of Hatchet Lake Denesułiné First Nation, Black Lake
Denesułiné First Nation, Fond du Lac Denesułiné First Nation and
the municipalities of Stony
Rapids, Uranium City,
Wollaston Lake, and Camsell
Portage. Ya' thi Néné works on behalf of the Athabasca Basin communities to protect the
best interests of the people and the land.
About Fortune Bay
Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) is an
exploration and development company with 100% ownership in two
advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and
Mexico, Chiapas (Ixhuatán Project), both with
exploration and development potential. The Company is also
advancing the 100% owned Strike and Murmac uranium exploration
projects, located near the Goldfields Project, which have
high-grade potential typical of the Athabasca Basin. The Company has a goal of
building a mid-tier exploration and development Company through the
advancement of its existing projects and the strategic acquisition
of new projects to create a pipeline of growth opportunities. The
Company's corporate strategy is driven by a Board and Management
team with a proven track record of discovery, project development
and value creation.
On behalf of Fortune Bay Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking
Information
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions, and expectations. They are
not guarantees of future performance. Words such as "expects",
"aims", "anticipates", "targets", "goals", "projects", "intends",
"plans", "believes", "seeks", "estimates", "continues", "may",
variations of such words, and similar expressions and references to
future periods, are intended to identify such forward-looking
statements. Fortune Bay Corp. ("Fortune Bay" or the "Company")
cautions that all forward-looking statements are inherently
uncertain, and that actual performance may be affected by a number
of material factors, many of which are beyond Fortune Bay's
control. Such factors include, among other things: risks and
uncertainties relating to metal prices, changes in planned work
resulting from weather, COVID-19 restrictions, availability of
contractors, logistical, technical or other factors, the
possibility that results of work will not fulfill expectations and
realize the perceived potential of Fortune Bay's mineral
properties, uncertainties involved in the interpretation of
drilling results and other tests, the possibility that required
permits may not be obtained in a timely manner or at all, risk of
accidents, equipment breakdowns or other unanticipated difficulties
or interruptions, the possibility of cost overruns or unanticipated
expenses in work programs, the risk of environmental contamination
or damage resulting from the exploration operations, the need to
comply with environmental and governmental regulations and the lack
of availability of necessary capital, which may not be available to
Fortune Bay, acceptable to it or at all. Fortune Bay is subject to
the specific risks inherent in the mining business as well as
general economic and business conditions. Accordingly, actual, and
future events, conditions and results may differ materially from
the estimates, beliefs, intentions, and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, Fortune Bay undertakes no
obligation to publicly update or revise forward-looking
information. Fortune Bay does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required under applicable securities legislation. For more
information on Fortune Bay, readers should refer to Fortune Bay's
website at www.fortunebaycorp.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Fortune Bay Corp.
