# FORTUNE BAY ANNOUNCES EXPLORATION TARGETS AT GOLDFIELDS AND COMMENCES DRILLING *2025-11-25T06:00:00-05:00* FORTUNE BAY ANNOUNCES EXPLORATION TARGETS AT GOLDFIELDS AND COMMENCES DRILLING Canada NewsWire _Exploration Program Targets Near-Mine Ounce Growth_ HALIFAX, NS, Nov. 25, 2025/CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that exploration drilling has commenced on multiple high-priority exploration targets at its 100%-owned Goldfields Gold Project ("Goldfields" or the "Project") in northern Saskatchewan. The targets include opportunities for resource expansion at the Box and Athona deposits, and potential for the addition of new resources from underexplored historical occurrences at Frontier, Golden Pond, and Triangle — all within two kilometres of past-producing and expected future mine infrastructure (Figure 1). An initial 17 exploration holes (3,250 metres) are planned with provision to expand the program in a results-driven manner. The exploration drilling will be carried out in conjunction with development-related drilling, supporting advancement of Goldfields to Pre-Feasibility Study, as described in the Company's recent [News Release](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4565316-1&h=3722178661&u=https%3A%2F%2Ffortunebaycorp.com%2Fnews%2Fpost%2Ffortune-bay-accelerates-development-at-goldfields-following-strong-pea-and-financing&a=News+Release). Gareth Garlick, VP Technical Services for Fortune Bay, commented _"We have initiated drilling within three weeks of closing our financing, demonstrating the pace at which we intend to advance the Project. Goldfields is already positioned as a robust development asset in Canada'stop mining jurisdiction, with work toward pre-feasibility and permitting in progress. Our exploration program is designed to unlock additional near-mine ounces that could further strengthen Goldfields' exceptional economics and improve the overall development profile."_ **Box Deposit – High-Grades Open at Depth** The Box deposit is wide open at depth. The Company's 2021 drilling confirmed high-grades extending up to 240 mbeyond the extents of the current open-pit constrained Mineral Resource Estimate ("MRE") (Figure 2), including: - 13.22 g/t Au over 8.0 mfrom 426.0 to 434.0 m(drill hole B21-340) - 8.74 g/t Au over 5.0 mfrom 575.0 to 580.0 m(drill hole B21-339) - 8.00 g/t Au over 12.0 mfrom 509.0 to 521.0 m(drill hole B21-336) - 8.00 g/t Au over 4.0 mfrom 375.0 to 379.0 m(drill hole B21-334) Four initial drill holes (2,000 m) are planned to test and infill large gaps (up to 170 m) in the existing drill hole coverage outside of the MRE to test for extensions to high-grade zones with underground mining potential. Gold mineralization occurs in sheeted and stockwork quartz–sulphide veins within the Box Mine Granite ("BMG"), controlled by N-S and NW-SE trending structures. The Box Deposit currently hosts an open-pit constrained mineral resource including 734,300 oz Indicated (16.2 Mt @ 1.41 g/t), and 114,100 oz Inferred (3.4 Mt @ 1.04 g/t) (effective date September 11, 2025). **Athona Deposit – ****Near-Pit Resource Expansion Potential** Mineral resources at Athona are hosted entirely within the Athona Mine Granite ("AMG"). The outcropping Athona West Mine Granite ("AWMG") is located immediately west of the AMG and displays gold mineralization similar in style to the AMG, but has not seen sufficient drilling to support estimation of mineral resources (Figure 3). Two initial drill holes (270 m) are planned with the dual purpose of testing mineralization continuity in the AWMG and testing an underlying extension of the AMG below the AWMG. This target is located directly adjacent to, and partially overlapping, the Athona open-pit designed in the Updated PEA and has potential to cost-effectively add mineral resources with limited delineation drilling. Gold mineralization at Athona occurs as stacked quartz–sulphide vein arrays controlled by NNE-trending structures. The Athona Deposit (AMG) currently hosts an open-pit constrained mineral resource including 255,400 oz Indicated (7.8 Mt @ 1.02 g/t) and 100,100 oz Inferred (4.0 Mt @ 0.78 g/t) (effective date September 11, 2025). **Exploration Drilling at Underexplored Historical Gold Occurrences** The Frontier, Golden Pond, and Triangle occurrences — all located within two kilometres of past-producing and expected future mine infrastructure — represent opportunities to define new mineralized zones that could ultimately contribute additional gold ounces to future Mineral Resource Estimates, thereby enhancing the overall scale and optionality of the Goldfields Project. The 2025/2026 exploration drilling program has been designed to test the size potential and continuity of shallow mineralized systems at these targets. Results from this work will be used to prioritize areas for follow-up delineation drilling, with the objective of advancing the most compelling oppor