Fortune Minerals Enters Into Convertible Securities Funding Agreement for up to C$10 Million With Lind Partners

Initial C$1.25 million drawdown used to pay a C$1 million downpayment for the Alberta refinery site

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 entered into a convertible securities agreement with Lind Global Fund II, LP, managed by The Lind Partners (together, " Lind ") for up to C$10,000,000. Fortune has received an initial C$1.25 million in exchange for the issuance of a first convertible security, and subject to the agreement of both parties, additional drawdowns can be made. Most of the proceeds from the first drawdown were used to make a C$1 million downpayment to JFSL Field Services ULC (" JFSL ") to extend the purchase option for the brownfield industrial site and buildings in Lamont County, Alberta on amended terms. Fortune plans to construct a hydrometallurgical refinery on this site (" Alberta Refinery ") to treat metal concentrates from the proposed NICO cobalt-gold-bismuth-copper mine and concentrator in the Northwest Territories (" NWT ") (collectively, the " NICO Project ") and other feed sources.

The first convertible security has a two-year term with a face value of C$1,600,000 secured by a lien against the Company's assets. Lind will be entitled to incrementally convert the face value amount of the first convertible security over a 24-month period, subject to certain limits, at a conversion price equal to 80% of the five-day trailing volume weighted average price of Fortune's shares (" VWAP ") prior to the date of conversion. Commencing 180 days after the shares issuable under the first convertible security become free trading, Fortune has the right to repurchase the first convertible security, subject to Lind's option to convert up to one third of the face value into Fortune common shares prior to such repurchase at a conversion price equal to 80% of the 5-day VWAP. Lind will also receive a closing fee of $50,000 and 12,500,000 common share purchase warrants at an exercise price of $0.065 per common share for 60 months from the date of issuance after closing.

Fortune is also pleased to report that it has entered into an amended option agreement with JFSL to acquire its 77-acre site and 42,000 square feet of serviced shops and buildings located in Lamont County Alberta where the Company plans to construct and operate the Alberta Refinery. Fortune has completed option payments to JFSL, totalling C$1.4375 million to be applied against the C$5.5 million purchase price and can complete the acquisition by paying JFSL the balance of the purchase price by June 28, 2024. JFSL will also have the right to use the facilities for a period of 18 months following Fortune's purchase of the facilities. In addition, JFSL‘s parent, "Worley Group" will have preferential rights to conduct certain engineering work for Fortune.

The Toronto Stock Exchange (the " TSX ") has provided conditional approval in respect of the Funding Agreement.

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 The Lind Partners:

The Lind Partners manages institutional funds that are leaders in providing growth capital to small- and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind's multi-strategy funds make direct investments ranging from US$1 to US$30 million, invest in syndicated equity placements and selectively buy on market. Having completed more than 200 direct investments totaling over US$2 billion in transaction value, Lind's funds have been flexible and supportive capital partners to investee companies since 2011.

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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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, additional drawdowns under the Funding Agreement, use of the first drawdown under the Funding Agreement, the exercise by the Company of its option to purchase of the JFSL site, the successful construction and completion of the proposed hydrometallurgical refinery at the JFSL site, and the Company's plans to develop the NICO Project, including the successful the development and construction of the planned NICO cobalt-gold-bismuth-copper mine and concentrator. 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: final approval by the TSX in respect of the Funding Agreement and related matters; extension of the option in respect of the JFSL site; the Company's ability to secure the necessary financing to fund the exercise of the option and complete the purchase of the JFSL site; the Company's ability to complete construction of a NICO Project refinery; the Company's ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project, including the planned NICO cobalt-gold-bismuth-copper mine and concentrator 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 TSX may not provide final approval in respect of the Funding Agreement and related matters, that global geopolitical situations may interfere with the Company's ability to continue development of the NICO Project, the Company may not be able to complete the purchase of the JFSL site and secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240522310279/en/

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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VIDEO: Altech Batteries Ltd Silumina Anodes Project Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to provide an update of the Silumina AnodesTM Project. This Company's game changing technology incorporates high-capacity silicon into lithium-ion batteries. Through in house R&D, the Company has cracked the "silicon code" and successfully achieved a 30% higher energy battery with improved cyclability or battery life. The Company's proprietary silicon product is registered as Silumina AnodesTM.

Highlights

- Spherisation of coated silicon particles- newest technological development

- Positioned in voids of graphite layer - further reducing impact of swelling

- Optimised 5% silicon content gives 50% capacity increase

- Pilot plant in Germany now operational

- All challenges resolved and ready for customer testing

SPHERISATION OF COATED SILICON

As previously noted, key challenges in using silicon in lithium-ion battery anodes include particle swelling, first-cycle capacity loss of up to 50%, and rapid battery degradation. Altech's initial approach involved coating individual silicon particles with a nanolayer of alumina to reduce expansion and mitigate first-cycle loss. This method proved effective. Building on this success, the next phase of development involved spherifying the coated silicon particles and applying additional coatings to the spherical structures (refer Figure 1*). These spherical, alumina-coated silicon particles can be effectively distributed within the voids of graphite, helping to minimise long-term damage to the electrode layer caused by expansion (refer Figure 2*). By residing in these voids, the particles can move without exerting stress on the surrounding graphite sheets. Additionally, the Company's R&D laboratory has optimised silicon content to a 5% addition, which has delivered a 50% capacity performance improvement in battery applications. The improvement in battery anode capacity can be seen in Figure 3 and 4*.

SUCCESSFUL PILOT PLANT OPERATION

Altech is in a race to get its patented technology to market. To support the development, Altech constructed a pilot plant adjacent to the proposed project site to enable the qualification process for its Silumina AnodesTM product. Coated silicon products are now being successfully produced at the Company's pilot plant located at Dock 3 in Saxony, Germany. The commissioning process presented a number of technical challenges, primarily related to the equipment delivery delays, supply of SiC materials, poor flowability and handling difficulties of the ultra-fine silicon powders used in the process - particles measuring less than one micron in size. These powders tended to cause hang-ups and blockages within the system, complicating consistent material movement and process stability. However, through a combination of engineering adjustments and process optimisations, these issues have now been resolved. The pilot plant is now operational and has produced high-quality coated silicon particles. These products are ready for evaluation and testing by potential customers, marking a key milestone in the commercialisation pathway.

Group Managing Director Iggy Tan said "The next generation of our development, leveraging spherization technology, has successfully addressed the long-standing challenges of silicon-namely swelling and rapid degradation. We've achieved a battery with 50% higher energy density and enhanced cycle life, all with a modest addition of silicon. Our proprietary alumina-coated, spherical silicon particles represent a breakthrough in battery anode materials. Production at our pilot plant in Saxony marks a significant milestone, and we are actively engaging with potential customers for evaluation. This progress places Altech at the forefront of next-generation battery technology as we move toward commercialisation."

To view the Video Update, please visit:
https://www.abnnewswire.net/lnk/75FWT03F

About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

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SAGA Metals Announces Non-Brokered Private Placement and Provides Corporate Update

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

Saga Metals Corp. (the "Company" or "SAGA") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery in Canada, is pleased to announce that it intends to complete a financing by way of a non-brokered private placement for aggregate gross proceeds of C$2,500,000 comprised of: (i) 2,500,000 flow-through common share units of the Company (the " FT Units ") at C$0.30 per FT Unit for gross proceeds of C$750,000, and, (ii) 7,000,000 hard dollar common share units of the Company (the " HD Units ", and together with the FT Units, the " Securities ") at C$0.25 per HD Unit for gross proceeds of C$1,750,000 (collectively, the " Offering ").

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International Lithium Announces Upsize and Extension of Private Placement

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it is increasing the size of its non-brokered private placement financing (the "Offering") from $600,000 to $855,000 and extending the closing of the Offering to May 30, 2025. The Offering was originally announced on February 5, 2025. The upsized Offering is comprised of up to 57,000,000 common shares of the Company at a price of $0.015 per share for gross proceeds of up to $855,000.

On March 31, 2025, the Company closed the first tranche the Offering and issued 23,666,666 common shares at $0.015 per share for proceeds of $355,000. The proposed payments from the first tranche proceeds included $183,600 to pay the outstanding fees to non-arm's length creditors.

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Description	DDH	FROM	TO	Length	Fe	TiO2	V205
	ID	m	m	m	%	%	%
Full Hole	HEZ-01	4.5	311	306.5	16.35	3.326	0.154
Layering Sequence_01	HEZ-01	109.7	142.6	32.9	18.075	4.016	0.158
Layering Sequence_02	HEZ-01	159.5	266	106.5	21.413	4.303	0.236
Highest Grade intercept	HEZ-01	167	198.5	31.5	25.954	5.339	0.284
Full Hole	HEZ-04	4.5	308	303.5	17.746	3.624	0.18
Layering Sequence_01	HEZ-04	24	56	32	15.595	3.489	0.113
Layering Sequence_02	HEZ-04	103	288	185	19.963	4.059	0.221
High Grade intercept_01	HEZ-04	231	281	50	24.494	4.74	0.305

Sample Number	DDH	FROM	TO	Length	Fe	TiO2	V205
	ID	m	m	m	%	%	%
1474069	HEZ-01	63.29	63.59	0.3	39.5	9.4	0.339
1474276	HEZ-01	198	198.5	0.5	43	9	0.512
1474242	HEZ-01	181	181.5	0.5	39.2	8.2	0.438
1471661	HEZ-04	241	241.5	0.5	41.6	7.9	0.522
1471663	HEZ-04	242	242.5	0.5	38.3	7.8	0.5

Name	Metal	Location	Area (Hectares)	Current Ownership Percentage	Future Ownership percentage if options exercised or work carried out	Operator or JV Partner
Raleigh Lake	Lithium Rubidium	Ontario	32,900	100%	100%	ILC
Firesteel	Copper Cobalt	Ontario	6,600	90%	90%	ILC
Wolf Ridge	Lithium	Ontario	5,700	0%	100%	ILC
Mavis Lake	Lithium	Ontario	2,600	0%	0% (carries an extra earn-in payment of CAD$ 0.7 million if resource targets met)	Critical Resources Ltd ( ASX: CRR)
Avalonia*	Lithium	Ireland	29,200	0%	2.0% Net Smelter Royalty	Ganfeng Lithium
Forgan/ Lucky Lakes	Lithium	Ontario		0%	1.5% Net Smelter Royalty	Ultra Lithium Inc. ( TSXV: ULT)
*Sale not completed yet

Fortune Minerals Enters Into Convertible Securities Funding Agreement for up to C$10 Million With Lind Partners

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NICO Cobalt Project and Reserves

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Management Team

Mahendra Naik - Chairman and Director

Robin E. Goad - President, CEO and Director

Patricia Penney - Interim CFO

Richard Schryer - Vice-president of Regulatory and Environmental Affairs

Alex Mezei - Chief Metallurgist

David Knight - Corporate Secretary

Troy Nazarewicz - Investor Relations Manager

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