Cobalt

Haywood engaged to assist Fortune in raising the funds needed to advance the NICO Critical Minerals Project through to a construction decision

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has engaged Haywood Securities Inc. (" Haywood ") to act as financial advisor to the Company to support its near-term financing objectives. Haywood will assist Fortune with seeking to raise the funds needed to execute on the Company's previously announced option to purchase the former steel fabrication plant site in Alberta's Industrial Heartland northeast of Edmonton, where it plans to construct the hydrometallurgical refinery for the NICO Cobalt-Gold-Bismuth-Copper Project (" NICO Project ") (see the Company's press release dated January 24, 2022). Haywood will also assist Fortune in its efforts to finance the other activities required to advance development of the NICO Project towards an eventual construction decision, including detailed engineering for an updated feasibility study to support project finance, and completion of the remaining environmental and permitting work, and for general corporate purposes including working capital and debt retirement. The 100%-owned NICO Project is a Canadian, vertically integrated, Critical Minerals development and one of the few cobalt assets in the world that can be developed in a timeframe needed to meet today's cathode chemistries for rechargeable batteries used in the transition to electric vehicles.

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Robin Goad, Fortune's President and CEO, commented, "We are pleased to be working with Haywood, a leading Canadian metals & mining focused investment bank, to aid in securing near-term financing to support the NICO Cobalt-Gold-Bismuth-Copper Project through to a construction decision. We look forward to collaborating with Haywood and delivering on our corporate objectives."

As partial consideration for the services to be provided by Haywood, the Company agreed to pay Haywood an initial engagement fee of C$50,000 to be satisfied by the issuance of 457,456 common shares of the Company (the " Shares ") to Haywood at a deemed price of C$0.1093 per Share (being the 5-day volume weighted average price of Fortune's common shares on the Toronto Stock Exchange ("TSX") as at close of trading on May 12, 2022). The Shares will be subject to a four month hold period in accordance with applicable Canadian securities laws and the issuance of the Shares remains subject to the acceptance of the TSX.

NICO Project:

Fortune has expended more than C$135 million to advance the NICO Project from an in-house discovery to a near-term producer with a 20-year supply of three Critical Minerals (cobalt, bismuth and copper) and more than 1.1 million ounces of in-situ gold. The NICO Project is comprised of a planned mine and mill in Canada's Northwest Territories (" NWT ") and a related hydrometallurgical refinery in Alberta that will process metal concentrates from the mine to cobalt sulphate, gold dore, bismuth ingots and oxide, and copper. The Company has received environmental assessment approval and the Type "A" Water License to construct and operate the facilities in the NWT. The recent completion of the C$200 million Tlicho Highway to the community of Whati is a key enabler for the NICO Project, which together with the planned spur road to the mine, will allow metal concentrates to be trucked to the railway for delivery to the Alberta refinery.

In January, 2022, Fortune entered into an option agreement with JFSL Field Services ULC to purchase its former steel fabrication plant in Lamont County, Alberta. This plant has the requisite planning approvals for industrial development and 40,000 square feet of serviced shops and buildings located close to sources of reagents, services and a commutable labour pool to materially reduce costs for the planned refinery and support operations.

This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

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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@FortuneMineral on Twitter.

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the Company's ability to raise additional capital, the purchase of the industrial site on which the Company presently intends to construct the hydrometallurgical refinery for the NICO Project, the repayment or restructuring of the Company's current debt, the development of the NICO Project, the potential for expansion of the NICO Deposit and statements regarding drill results and future drilling and assays. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company's ability to successfully raise the necessary capital to meet its corporate objectives in both the near and long term; the successful exercise by the Company its option to purchase the industrial site on which it intends to construct a NICO Project refinery; the completion of construction of a NICO Project refinery; the ability to arrange the necessary financing to continue operations and develop the NICO Project; the support of the federal and/or provincial government for the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to finance and develop the NICO Project on favourable terms or at all, the 2021 drill program may not result in a meaningful expansion of the NICO Deposit, the effects of a global market downturn, pressure on commodities prices, and/or the COVID-19 on the Company's capital raising efforts, the Company may not be able to complete the purchase of the industrial site located in Alberta's Industrial Heartland northeast of Edmonton and secure a site for the construction of a refinery, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Company's Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

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

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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

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.

Follow Fortune Minerals:

Click here to subscribe to Fortune's email list.

Click here to follow Fortune on LinkedIn.

@FortuneMineral on Twitter.

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

News Provided by Business Wire via QuoteMedia

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Fortune Minerals Updates NICO Refinery Site Due-Diligence

Fortune Minerals Updates NICO Refinery Site Due-Diligence

Consultants engaged and work nearing completion on site purchase option validation

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to report that due-diligence activities are advancing on the Company's proposed new refinery site location in Lamont County in Alberta's Industrial Heartland northeast of Edmonton (see Fortune news release dated January 24, 2022). Fortune entered into an option agreement with JFSL Field Services ULC (" JFSL ") in January to allow it to purchase the site and existing facilities of this former steel fabrication plant in order to construct the hydrometallurgical refinery for the planned NICO cobalt-gold-bismuth-copper mine in the Northwest Territories. The refinery would process metal concentrates from the mine to produce Critical Mineral products including cobalt sulphate, bismuth ingots and oxide, and a copper precipitate needed for the transition to new technologies. The NICO Mineral Reserves also contain more than 1.1 million ounces of in-situ gold providing a highly liquid and countercyclical co-product to mitigate Critical Mineral price volatility. The vertically integrated NICO cobalt-gold-bismuth-copper project (" NICO Project ") is one of the few advanced cobalt development assets in the world outside of the Democratic Republic of the Congo to support the near-term demand growth in lithium-ion rechargeable batteries used in electric vehicles (" EV's '), portable electronics and stationary storage cells.

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Fortune Minerals Provides Summary of Key Highlights of the Recent Cobalt Institute Cobalt Market Report 2021

Fortune Minerals Provides Summary of Key Highlights of the Recent Cobalt Institute Cobalt Market Report 2021

Transition to Electric Vehicles driving year on year and projected cobalt demand growth

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to provide a summary of the key highlights from the Cobalt Institute's (" CI ") Cobalt Market Report 2021 (access report here ) released this week. The CI is a trade organization promoting the sustainable and responsible production and use of cobalt with member companies comprised of producers, developers, users, traders, and recyclers of cobalt metals and chemicals. The Cobalt Market Report 2021 confirms cobalt's essential role in diverse industrial applications, and particularly as an enabler of the green economy transition and innovation of rechargeable battery technologies supporting accelerating global electric vehicle (" EV ") sales. Fortune's NICO Cobalt-Gold-Bismuth-Copper Project (" NICO Project ") is a Canadian, vertically integrated, Critical Minerals development and one of the few cobalt assets in the world that can be developed in the timeframe needed to meet today's cathode chemistries in rechargeable batteries used in EV's, portable electronics and stationary storage cells.

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Fortune Minerals Confirms New Zone At NICO Project

Fortune Minerals Confirms New Zone At NICO Project

Continuity of cobalt-gold-bismuth-copper intercepts established in Peanut Lake Zone

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to report results from the 2021 drill program on its 100%-owned NICO Critical Minerals project (" NICO Project ") in the Northwest Territories (" NWT ") and Alberta. The NICO Project is comprised of a planned open pit and underground mine, mill and concentrator in the NWT and a planned hydrometallurgical refinery in Alberta's Industustrial Heartland northeast of Edmonton to process metal concentrates into value added products. The Mineral Reserves for the NICO cobalt-gold-bismuth-copper deposit (" NICO Deposit ") contain 33.1 million metric tonnes containing 37.3 million kilograms of cobalt, 1.1 million Troy ounces of gold, 46.3 million kilograms of bismuth, and 12.3 million kilograms of copper. Drilling was caried out at the end of 2021 in order to test four prospects that had been identified in earlier geophysical surveys and a 1997 drill program. The recent drilling succesfully confirmed continuity of cobalt-gold-bismuth and local copper mineralization in the Peanut Lake Zone, located 800 metres southeast of the NICO Deposit and also identified a potential east strike extension of the deposit.

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Fortune Minerals Welcomes Canada's C$3.8 Billion Critical Minerals Strategy to Support Domestic EV Supply Chains

Fortune Minerals Welcomes Canada's C$3.8 Billion Critical Minerals Strategy to Support Domestic EV Supply Chains

The NICO Project is one of the few advanced cobalt developments in the world to meet the growing demand in lithium-ion batteries powering electric vehicles and portable electronics

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to report on the C$3.8 billion of financial support for Critical Minerals announced in last week's Government of Canada budget for 2022 (" 2022 Budget "). The funds are being allocated to accelerate domestic production and processing of Critical Minerals, particularly cobalt, nickel and lithium used in the manufacture of lithium-ion rechargeable batteries for electric vehicles (" EV's "), portable electronics, and stationary storage cells to make electricity use more eficient. Fortune's 100%-owned NICO cobalt-gold-bismuth-copper project (" NICO Project ") is a vertically integrated Critical Minerals development comprised of a planned open pit and underground mine and mill in Canada's Northwest Territories (" NWT ") and a planned hydrometallurgical refinery in Alberta. The NICO Project is one of the few advanced cobalt development assets in the world that can be developed in the timelines required to meet current cathode chemistries and will benefit from implementation of these programs. The Mineral Reserves for the NICO deposit also include 1.1 million ounces of gold, 12% of global bismuth reserves, and copper as a minor by-product.

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Stillwater Critical Minerals Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

Stillwater Critical Minerals Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

 Stillwater Critical Minerals (TSXV: PGE), focused on battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA, is pleased to announce that it will be participating in THE Mining Investment Event of the North, which will be held IN PERSON and will take place on June 19-21, 2022, at the Fairmont Chateau Frontenac and Voltigeurs de Quebec Armoury in Quebec City, Canada.

CEO, Michael Rowley will be presenting at 2:50PM ET on June 20th. Management from Stillwater Critical Minerals will also be holding one-on-one investor meetings throughout the three-day conference. Interested parties should contact Nancy Larned at nlarned@vidconferences.com to inquire about registering to attend.

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Ellis Martin: Name Change for Major Battery Metals and Platinum Group Elements Company in a Premiere US Mining District

Ellis Martin: Name Change for Major Battery Metals and Platinum Group Elements Company in a Premiere US Mining District

Malibu, CA, United States (ABN Newswire) - Join Ellis Martin for a conversation with Michael Rowley, the President and CEO of Stillwater Critical Minerals Corp. (CVE:PGE)(OTCMKTS:PGEZF)(FRA:5D32).

Group Ten Metals Announces Name Change to Stillwater Critical Minerals Corp.

Group Ten Metals Inc. is pleased to announce that, effective at market opening on June 13, 2022, the common shares of the Company will trade on the TSX Venture Exchange under the name "Stillwater Critical Minerals Corp." to better reflect the commodity suite of battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA. The project hosts a total of eight metals (nickel, cobalt, chromium, palladium, platinum, rhodium, iridium and ruthenium) designated as critical by the United States government with a mandate to secure domestic supplies based on economic and national security concerns. Stillwater West also hosts significant copper resources.

To listen to the Interview, please visit:
https://www.abnnewswire.net/press/en/110673/pge



About Stillwater Critical Minerals Corp.:

Stillwater Critical Minerals Corp. (CVE:PGE) (OTCMKTS:PGEZF) is a mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company's core asset is the Stillwater West project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana. Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada‘s Yukon Territory.



Source:
Stillwater Critical Minerals Corp.

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Group Ten Metals Announces Name Change to Stillwater Critical Minerals

Group Ten Metals Announces Name Change to Stillwater Critical Minerals

Group Ten Metals Inc. (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the "Company" or "Group Ten") is pleased to announce that, effective at market opening on June 13, 2022, the common shares of the Company will trade on the TSX Venture Exchange under the name "Stillwater Critical Minerals Corp." to better reflect the commodity suite of battery, catalytic and precious metals at the Company's flagship Stillwater West project in Montana, USA. The project hosts a total of eight metals (nickel, cobalt, chromium, palladium, platinum, rhodium, iridium and ruthenium) designated as critical by the United States government with a mandate to secure domestic supplies based on economic and national security concerns. Stillwater West also hosts significant copper resources

Group Ten Metals Inc. , Thursday, June 9, 2022, Press release picture

President and CEO Michael Rowley commented "Rebranding Group Ten Metals to Stillwater Critical Minerals reflects our increasing focus on our flagship project and the great potential we see in the iconic and famously productive Stillwater mining district. With the recent addition of two renowned Bushveld and Platreef geologists to our team we are well positioned to advance the next phase of large-scale critical mineral supply from the district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by our neighbor, Sibanye-Stillwater. Our Platreef-style nickel and copper sulphide deposits contain a compelling suite of critical minerals and are open for expansion along trend and at depth. We look forward to further announcements including assay results from our 2021 resource expansion drill campaign and our 2022 exploration plans in the near term."

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Austral Resources Australia Ltd Complementary Exploration Earn-in Agreements with Glencore

Brisbane, Australia (ABN Newswire) - Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce that the Company has entered into reciprocal non-binding exploration earn-in agreements ("Earn-in Agreements") with MIM, a subsidiary of one of the world's largest mining companies, Glencore.

The reciprocal nature of the Earn-in Agreements is value generating for both parties. For Austral, this will involve expanding its oxide exploration activity in both the Exploration Area and within MIM's prospective Russell Fault EPM. Under the Earn-in Agreements, the parties agree to share exploration data and certain resources.

Under the Earn-in Agreements, MIM will have the rights to earn-in up to a 65% interest of Austral's JV EPM's by spending A$6.3m over four years. Austral retains the right to explore for and commercially exploit oxide copper ore within the Exploration Area. Additionally, under the Earn-in Agreement with MIM, Austral is entitled to earn-in up to 65% interest within MIM's Russell Fault EPM by spending A$2.0m over four years, effectively increasing our copper exploration area by 116km2.

The Earn-in Agreements are non-binding and subject to formal documentation being entered into.

Austral will keep the market updated on its status as required.

Key details of the Earn-in Agreements are contained in the balance of this announcement. The Earn-in Agreements with MIM are the culmination of negotiations held with several parties eager to joint venture into portions of Austral's highly prospective exploration tenure and obtain an option to participate in the Company's future growth potential.

Austral's Chief Executive Officer, Steve Tambanis, commented:

"We are excited to collaborate with Glencore on this exploration JV in Queensland's Northwest Minerals Province. Both parties hold a significant tenure position within the region, and it makes absolute sense to combine the tenure for an intensive exploration programme. Glencore are our offtake partners for 40,000t of our Anthill copper cathode and we look forward to working together from an exploration perspective.

This is a win-win transaction for both Austral and Glencore with the potential to discover new orebodies that can extend operations of both companies in the region. Glencore is focussed on discovering new base/precious metal orebodies in this metal-rich area and Austral believes there is excellent potential to define additional oxide copper resources to be processed at its nearby Mt Kelly SXEW plant.

The prospectivity of the area has been significantly enhanced by two new geophysical datasets (Heli-VTEM and a separate fixed wing Falcon Gravity survey) flown by Glencore in late 2021 and processed earlier this year. This new data has generated a number of priority targets for the JV and drilling is expected to commence within months.

Of note, Austral has retained its rights to explore for oxide copper mineralisation on its own tenure and has negotiated the right to explore MIM's tenure for oxide copper mineralisation. We believe that the increased drilling activity in this area will yield more shallow copper oxide mineralisation.

Of Austral's 2,100km2 of EPM tenure, this Earn-in agreement applies to a 330km2 portion immediately about the Lady Loretta Mine (Figure 1*). Austral retains 1,800km2 of EPMs for other exploration initiatives.

Austral recently commenced processing ore from its Anthill Copper Mine - building to rate of 10,000tpa of copper cathode from mid-2022 for a four-year period. This will now allow the Company to increase the pace of its exploration and development activities.

We look forward to further updating shareholders as we build copper production from Anthill and scale-up exploration and development activities."

*To view full details of the transaction, please visit:
https://abnnewswire.net/lnk/037YMZ16



About Austral Resources Australia Ltd:

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.

Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.



Source:
Austral Resources Australia Ltd

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wooden blocks with portions of blue arrows on them, placed in four increasing stacks

Cobalt Supply Growth to Come from These 5 Key Assets

According to a Cobalt Institute report, supply growth is likely to lag behind demand in the medium term, with the market expected to shift into a deficit by 2024.

“Rising prices over the last 12 months have incentivized further supply side investments but these are currently insufficient to meet the rate of demand growth,” the document states. “Mined supply will continue to see healthy increases year-on-year in 2022 and 2023 before starting to fall away from 2024 onwards.”

After falling in 2020, cobalt mine supply rose 12 percent year-on-year to reach 160,000 metric tons (MT) in 2021. The Democratic Republic of Congo (DRC) remained the top producer of the commodity, accounting for 74 percent of global output and 87 percent of annual growth.

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Sherritt Announces Results of Modified Dutch Auction to Purchase Secured Notes and Fixed Price Tender Offer to Purchase Junior Notes

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation (" Sherritt " or the " Corporation ") (TSX:S) announced today the results of its offers to purchase (i) its outstanding 8.50% senior second lien secured notes due 2026 (the " Secured Notes ") pursuant to a modified Dutch auction process (the " Secured Notes Dutch Auction ") and (ii) its outstanding 10.75% unsecured PIK option notes due 2029 (the " Junior Notes ", and collectively with the Secured Notes, the " Notes ") pursuant to a fixed price tender offer process (the " Junior Notes Fixed Price Tender Offer " and, together with the Secured Notes Dutch Auction, the " Offers " or the " Transaction ").

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