Mr. Dale Verran reports

FORTUNE BAY DRILLS MULTIPLE GOLD ZONES AT GOLDFIELDS INCLUDING 6.61 G/T OVER 5.0 M WITHIN 2.54 G/T OVER 17.0 M

Fortune Bay Corp. has released assay results for the initial three drill holes from the continuing exploration drilling program at its 100-per-cent-owned Goldfields gold project in Saskatchewan, one of Canada's top mining jurisdictions.

The three drill holes were designed to test substantial downdip gaps in previous drill coverage at the Box deposit (up to 170 metres (m)) targeting resource expansion beyond the open-pit limits defined in the updated preliminary economic assessment (PEA).

The results confirm the continuation of structurally controlled, higher-grade mineralization at depth.

Assay highlights:

• Hole B25-346:
  • 2.54 grams per tonne (g/t) over 17.0 metres (m);
  • Including 6.61 g/t over 5.0 m;
• Hole B25-347:
  • 6.95 g/t over 2.0 m;
  • 3.72 g/t over 3.0 m;
  • 4.55 g/t over 3.0 m;
  • 2.76 g/t over 7.0 m;
  • Including 5.63 g/t over 3.0 m;
  • 8.72 g/t over 2.0 m;
• Hole B25-348:
  • 2.29 g/t over 9.3 m;
  • Including 4.68 g/t over 3.0 m.

Gareth Garlick, vice-president of technical services, commented: "These results add to a growing inventory of strong assays down dip at Box, reinforcing potential for resource growth through additional delineation drilling. Gold mineralization remains wide open downdip at Box and we are looking forward to additional assays from larger stepout holes that have recently been completed."

Dale Verran, chief executive officer, added: "While PFS-level development is advancing for an open-pit mine at Goldfields, we believe the broader gold resource base has meaningful growth potential through continued expansion and exploration drilling at numerous targets. With nearly all the PEA open-pit resources already classified in the indicated category, we are uniquely positioned to direct our drill budget toward expansion and discovery rather than resource delineation infill. This provides an opportunity to unlock additional near-mine ounces that could further enhance Goldfields' already robust economics and strengthen the long-term development profile of the project."

Box deposit -- downdip expansion

The results from B25-346, B25-347 and B25-348 contribute to an expanding data set of strong downdip assay intercepts at Box, supporting the potential for delineation of additional mineral resources.

Drill hole details and assay results

The initial three drill holes at Box were designed to test significant gaps in downdip drill coverage (up to 170 metres), extending downdip up to 300 metres beyond the open-pit designed in the updated PEA. All three holes successfully intersected the mineralized Box mine granite (BMG) at or near the depths predicted by the geological model. Observed mineralization characteristics -- including quartz vein orientation, thickness and vein density -- are consistent with those documented elsewhere within the deposit.

Higher gold grades at the Box deposit are typically associated with discrete north-south-trending structural zones exhibiting increased quartz vein intensity. These higher-grade zones, extending below the updated PEA open-pit base, present attractive targets for delineation drilling focused on expanding the mineral resources.

The current drilling at Box is oriented toward the east, with dips as shallow as practically achievable (approximately minus 55 degrees to minus 60 degrees) to intersect structural zones at the highest angle possible (closest to true thickness) and to maximize the internal coverage of the BMG for each drill hole.

2025-2026 exploration drilling program

The assay results from the three drill holes reported herein form part of a broader exploration drilling program initiated in late 2025, comprising approximately 3,250 metres of planned drilling. The program is designed to evaluate opportunities for mineral resource expansion at the Box and Athona deposits, as well as the potential to define new mineral resources at underexplored historical occurrences, including Frontier, Golden Pond and Triangle. All targets are located within two kilometres of past-producing and anticipated future mine infrastructure.

Technical disclosure and qualified person

All drilling is being carried out with NQ diameter. Core trays are transported directly from the drill rig to the company's logging facility in Uranium City. Sample intervals are selected for assay based on observations of lithology type, presence of quartz veins and sulphides. These intervals are marked up for continuous sampling with one-metre sample increments (adjusted where necessary to not cross lithological boundaries). Core is sawn in half along the core axis for sampling, with the remaining half preserved and stored in the core box. Samples are bagged and placed in plastic pails sealed with security tags for export by air freight to Saskatoon.

All sample processing is being carried out by SRC Geoanalytical Laboratories in Saskatoon using its screened metallics sample process method, which includes: (1) crushing and homogenization of the entire sample; (2) split off a representative one-kilogram split for analysis; (3) pulverizing the split with 95 per cent passing 150 mesh; (3) screening the split at 150 mesh; (4) assay the entire 150-plus-mesh fraction; (5) duplicate assay of two 30-gram splits of the minus-150-mesh fraction; and (6) calculation of the weighted average gold content (in g/t) for the entire sample. All assay is carried out by fire assay with a gravimetric finish.

Certified reference blank and standard material is being used by the company for independent QA/QC (quality assurance/quality control) of assay results. QA/QC samples are inserted into assay sample sequences and results are reviewed to assess for any potential laboratory contamination and to verify assay accuracy and precision. A selected suite of samples will also be sent to another laboratory for additional umpire assay testing to further verify the results.

Details for the updated PEA for Goldfields are provided in the technical report, titled "Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada," dated Oct. 20, 2025, prepared by Kevin Murray, PEng, Scott C. Elfen, PE, James Millard, PGeo, Jonathan Cooper, PEng, Marc Schulte, PEng, Cliff Revering, PEng, and Ron Uken, PrSciNat, for Fortune Bay. The technical report is available under the company's issuer profile on SEDAR+ and on the company's website.

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick, PGeo, vice-president of technical services of the company, who is a qualified person as defined by National Instrument 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the company under NI 43-101.

About Fortune Bay Corp.

Fortune Bay is a Canadian mineral exploration and development company with assets in Canada and Mexico. The company's primary focus is advancing the Goldfields gold project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa gold-copper project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management.

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