Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) reports that the nominees listed in the management information circular for the 2022 Annual General Meeting of shareholders held on June 28, 2022 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

Nominee

Votes For

% For

Votes Withheld

% Withheld

Robin E. Goad

67,595,332

97.82%

1,505,753

2.18%

Glen Koropchuk

67,734,593

98.02%

1,366,491

1.98%

John McVey

67,739,525

98.03%

1,361,560

1.97%

Mahendra Naik

66,556,189

96.32%

2,544,895

3.68%

David Ramsay

65,616,270

94.96%

3,484,814

5.04%

Edward Yurkowski

67,940,000

98.32%

1,161,085

1.68%

Shareholders also approved the appointment of Fortune's auditors.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper Critical Minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

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Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

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Canadian Investment Regulatory Organization Trade Resumption - FT

Canadian Investment Regulatory Organization Trade Resumption - FT

Trading resumes in:

Company: Fortune Minerals Limited

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Fortune Minerals Announces Government of Canada Funding for the NICO Critical Minerals Project

Fortune Minerals Announces Government of Canada Funding for the NICO Critical Minerals Project

Government of Canada funding for additional engineering and test work to build on and complement activities being supported by the U.S. Department of Defense

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has secured additional funding from the Government of Canada to help advance the Company's 100%-owned, vertically integrated NICO cobalt-gold-bismuth-copper Critical Minerals asset in Canada (" NICO Project "). The Government of Canada has agreed to provide contribution funding for up to C$7.5 million to support 75% of the costs for additional engineering and test work, totalling approximately C$10 million through the Global Partnerships Initiative (" GPI "). Natural Resources Canada (" NRCan ") is the funding department for the GPI and Fortune will provide additional due-diligence information and complete a Contribution Agreement over the next few weeks. The objectives of the work being funded by NRCan are to build on and complement the programs being supported by the U.S. Department of Defense (" DoD ") through the Company's Defense Production Act (" DPA ") Title III award for US$6,380,555 (~C$8.74 million) (see the news releases also dated May 16, 2024). The total amount of non-dilutive funding that Fortune expects to receive from the U.S. and Canadian governments is approximately C$16.2 million. This important cross-border initiative is aligned with the Canada U.S. Joint Action Plan on Critical Minerals Collaboration to strengthen North American production of the metals needed in essential industries and new technologies to support the energy transition and the growing green economy.

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Fortune Minerals Announces U.S. Government Funding to Accelerate the NICO Critical Minerals Project Development

Fortune Minerals Announces U.S. Government Funding to Accelerate the NICO Critical Minerals Project Development

Expanding domestic production of cobalt for the battery supply chain & energy transition

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that the United States Department of Defense ( "DoD ") has awarded the Company a US$6,380,555 (~C$8.74 million) grant under the Defense Production Act (" DPA ") Title III program to expand the domestic capacity and production of cobalt for the battery and high strength alloy supply chains. This non-dilutive source of capital will allow Fortune to advance the vertically integrated NICO cobalt-gold-bismuth-copper development asset in Canada (" NICO Project ") toward a project construction decision.

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Fortune Minerals Announces Arrival of Samples at SGS Canada in Lakefield, Ontario for Metallurgical Testing

Fortune Minerals Announces Arrival of Samples at SGS Canada in Lakefield, Ontario for Metallurgical Testing

Alberta Refinery site purchase option extended to mid-May

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce the successful delivery of ore samples from the NICO cobalt-gold-bismuth-copper deposit (" NICO Deposit ") in the Northwest Territories (" NWT ") to SGS Canada Inc. in Lakefield, Ontario. These ores will be used to conduct additional metallurgical testing and pilot work to validate recent optimizations and support detailed engineering and an updated Feasibility Study for the vertically integrated NICO cobalt-gold-bismuth-copper Critical Minerals project in Canada (" NICO Project "). Intermediate test products produced from NICO Project ores and concentrates will also be blended with metal precipitates sourced from Rio Tinto's Kennecott Smelter in Utah to assess the feasibility of processing these materials to recover additional bismuth and cobalt at Fortune's planned hydrometallurgical refinery in Alberta (" Alberta Refinery "). Successful validation of the Fortune optimizations and processing of Rio Tinto precipitates would increase Critical Mineral production and revenues and reduce waste disposal costs for the planned Alberta Refinery.

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Government of Canada Announces Funding to Support Domestic Critical Minerals Value Chains and Create Good Jobs in the Northwest Territories

Government of Canada Announces Funding to Support Domestic Critical Minerals Value Chains and Create Good Jobs in the Northwest Territories

Canada is committed to supporting strong domestic value chains for critical minerals and the clean technologies and energy sources they enable. The Government of Canada is focused on increasing mineral and energy security, creating good jobs and supporting economic opportunities across critical mineral value chains, from upstream exploration and extraction to downstream processing, manufacturing and recycling.

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $714,500 investment in Fortune Minerals Limited (Fortune Minerals) to enhance the production of cobalt sulphate and bismuth ingot products from the company's planned mine in the Northwest Territories and refinery in Alberta to increase the supply of critical battery metals that are essential to the development of a domestic electric vehicle value chain. This will be achieved through a pilot-scale hydrometallurgical program designed to optimize processing conditions while ensuring that residues from the process are stable for safe disposal.

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122.5 m at 1.42% Li2O and 71.4 m at 1.57% Li2O at CV5

122.5 m at 1.42% Li2O and 71.4 m at 1.57% Li2O at CV5

May 16, 2025 – Sydney, Australia

Highlights
  • Continued strong lithium mineralization over wide intervals from infill drilling at CV5.
    • 122.5 m at 1.42% Li 2 O , including 35.8 m at 2.15% Li 2 O (CV24-405).
    • 71.4 m at 1.57% Li 2 O , including 14.2 m at 3.15% Li 2 O (CV24-435).
    • 68.7 m at 1.56% Li 2 O and 22.5 m at 1.04% Li 2 O (CV24-414).
    • 74.9 m at 1.28% Li 2 O , including 28.1 m at 2.28% Li 2 O (CV24-423A).
    • 53.0 m at 1.22% Li 2 O , including 25.0 m at 1.65% Li 2 O (CV24-450).
  • The focus of the 2024 winter drilling at CV5 was to support an upgrade in mineral resource confidence, from the inferred category to the indicated category, targeting release in Q3 2024 inclusive of a maiden CV13 resource.
  • Multiple holes remain to be reported targeting the newly discovered high-grade zone at CV13, with the Company to report the assay results as soon as they are received in the coming weeks.
  • 38,887 m (111 holes) remain to be reported from the 2024 winter drill program – 27,611 m (67 holes) at CV5, and 11,276 m (44 holes) at CV13.

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the next batch of core assay results for drill holes completed in 2024 at the CV5 Spodumene Pegmatite. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec . The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li 2 O inferred 1 , is situated approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure.

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As the world begins to shift away from carbon-based energy and toward renewable energy, new investment opportunities are emerging alongside advancements in electric vehicle (EV) battery technology.

In the short term, EV sales are experiencing slow growth as adoption in major markets faces hurdles.

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PATRIOT ALBEMARLE MOU CONCLUDED

PATRIOT ALBEMARLE MOU CONCLUDED

May 15, 2024 Sydney, Australia

Patriot Battery Metals logo (CNW Group/Patriot Battery Metals Inc.)

Highlights

  • Both parties have mutually agreed not to extend the MOU, enabling Patriot to explore a broader range of strategic partnerships within the downstream lithium sector.
  • Patriot has and continues to attract significant attention across the industry, reinforcing its position as a pivotal supplier of high-quality raw materials for lithium-ion batteries outside of China .
  • Patriot maintains a constructive ongoing relationship with Albemarle.

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) announces today that the Memorandum of Understanding ("MOU") 9-month term with Albemarle has concluded and will not be extended. Patriot expects to fully engage with other downstream companies in the Lithium supply chain and as such all the rights granted to Albemarle have expired, including any levels of exclusivity in respect of future mine production and links to downstream chemical conversion facilities.

As the scale and quality of Patriot's Corvette Project has become increasingly evident, the Company has received significant interest from participants in the lithium industry, given the potential for Corvette to be a large and high-quality raw material supplier for the future of lithium-ion battery supply chains ex-China.  Enabling the company to fully engage with other downstream companies has been determined to be in the best interests of shareholders.

Since signing the MOU Albemarle and Patriot have worked together on the many technical aspects of an integrated project, advancing the scope of mine concentrate production and opportunities for a downstream lithium hydroxide plant integrated with the Corvette project. Further, the funding provided by Albemarle's strategic investment enabled a robust work program including installation of critical capital works such as the camp, all-weather access road and the recently completed eleven rig winter drill program.

Ken Brinsden , President and CEO of Patriot, expressed his appreciation for the partnership: "Our collaboration with Albemarle has been extremely valuable. We are proud of the progress we've made and are excited by the intense market interest in the Corvette project. As we move forward, Patriot is eager to expand its operations and explore new partnerships that support the growing demand for lithium raw materials and chemicals in North America and Europe .

We also look forward to continuing our productive relationship with Albemarle in a flexible, non-exclusive format", Mr Brinsden added.

As a result of the MOU conclusion the Investor Rights Agreement ("IRA") between Patriot and Albemarle Corporation dated August 3, 2023 was terminated in accordance with its terms. Following the termination all of the rights granted to Albemarle, including exclusivity, have expired providing Patriot with the flexibility to engage with multiple potential partners and further its strategic goals.

Patriot remains committed to maximizing shareholder value by capitalizing on the strategic opportunities available within the evolving landscape of the global lithium market.

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and is interpreted to span more than 50 kilometres across the Corvette Property. The core area includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 .

To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite "outcrop" subsurface.

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Corvette Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith , M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects , and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.

Mr. Smith is Vice President of Exploration for Patriot Battery Metals Inc. and holds common shares and options in the Company.

Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.

Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada , and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remains to be assessed.

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

For further information, please contact us at info@patriotbatterymetals.com or by calling +1 (604) 279-8709, or visit www.patriotbatterymetals.com . Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au , for available exploration data.

This news release has been approved by the Board of Directors.

" KEN BRINSDEN "

Kenneth Brinsden , President, CEO, & Managing Director

Disclaimer for Forward-looking Information

This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.

All statements, other than statements of historical fact included in this news release, regarding the Company's strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as "plan", "expect", "estimate", "intend", "anticipate", "believe", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include that proposed exploration and mineral resource estimate work on the Corvette Property will continue as expected, and that exploration and development results continue to support management's current plans for Corvette Property development

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company's Corvette Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

Competent Person Statement (ASX Listing Rule 5.22)

The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023 . The Company confirms it is not aware of any new information or data that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/patriot-albemarle-mou-concluded-302145739.html

SOURCE Patriot Battery Metals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/15/c1336.html

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Vincent Chen Joins Lancaster Resources Board of Directors, Bolstering Expertise in Corporate Development

Vincent Chen Joins Lancaster Resources Board of Directors, Bolstering Expertise in Corporate Development

Lancaster Resources Inc. (CSE:LCR) (OTCQB:LANRF) (FRA:6UF0) (" Lancaster ") a leader in critical mineral exploration, is pleased to announce the appointment of Mr. Vincent Chen, CPA, as an independent director to its Board of Directors, effective May 9, 2024.

Vincent brings a wealth of expertise and a robust background in accounting and corporate development within the mining sector. He began his distinguished career at PricewaterhouseCoopers in the mining assurance team in Toronto, where he earned his Chartered Professional Accountant designation. Following his tenure at PricewaterhouseCoopers, Vincent joined Yamana Gold Inc. (now Pan American Silver), serving as a Senior Analyst on the corporate reporting team.

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CORRECTION - Brunswick Exploration Drills 93.45 Meters at 1.55% Li2O at MR-6

CORRECTION - Brunswick Exploration Drills 93.45 Meters at 1.55% Li2O at MR-6

Please note that on Wednesday, May 8th, Brunswick Exploration (TSX-V: BRW, OTCQB: BRWXF) issued the incorrect version of a press release under the same headline. The corrected release follows:

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to report more significant results from the Mirage winter drilling campaign. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec approximately 40 kilometres south from the Trans-Taiga Road. The winter drill campaign focused on the Central Zone and has continued to intersect multiple wide and well mineralized intervals within the MR-6 dyke and its vicinity, where it remains open in all directions.

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ALX Resources Corp. Announces Definitive Option Agreement with Trinex Minerals for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. Announces Definitive Option Agreement with Trinex Minerals for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

alx resources corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the execution of a definitive agreement (the "Definitive Agreement") for an option earn-in transaction (the "Transaction") on its 100%-owned Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near Stony Rapids, Saskatchewan. ALX has executed the Definitive Agreement with Trinex Lithium Ltd. ("Trinex Canada"), a wholly-owned subsidiary of Trinex Minerals Limited, which is a publicly-traded mineral exploration company listed on the Australian Securities Exchange. Under the terms of the Definitive Agreement, Trinex Canada can earn an initial 51% interest and up to a 75% participating interest in the Project in two stages over a period of five years by making cash payments and common shares payments to ALX, and by incurring exploration expenditures as shown in the table below.

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