Fortune Minerals Extends Purchase Option for NICO Refinery Site in Alberta Until the End of September

Fortune Minerals Extends Purchase Option for NICO Refinery Site in Alberta Until the End of September

 

  Due-diligence for the brownfield facility in Alberta's Industrial Heartland essentially complete  

 

  Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has secured a two-month extension to the option period to purchase the JFSL Field Services ULC (" JFSL ") brownfield site in Lamont County, Alberta where it plans to construct the NICO hydrometallurgical refinery. Fortune can acquire the JFSL site and facilities for C$5.5 million before the end of September 2022 by paying C$15,000 per month to extend the option. The JFSL site is comprised of 76.78 acres of lands in Alberta's Industrial Heartland northeast of Edmonton, a consortium of five municipalities with the planning approvals already in place to attract heavy industry. The JFSL facility is a former steel fabrication plant with 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. It is also situated close to sources of reagents and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO development.

 

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The NICO refinery would process metal concentrates from the planned NICO cobalt-gold-bismuth-copper mine and concentrator in the Northwest Territories (" NWT ") enabling Fortune to become a vertically integrated producer of cobalt sulphate needed to make the cathodes of lithium-ion batteries used in electric vehicles, portable electronics and stationary storage cells. The refinery would also produce bismuth ingots and oxide, an ‘Eco-metal' used in the automotive and pharmaceutical industries with growing demand as an environmentally safe and non-toxic replacement for lead in free-machining steels and aluminum, lead-free brasses and solders for the plumbing and electronics industries, ceramic glazes, radiation shielding, glass, plugs for decommissioned oil and gas wells, ammunition, and fishing weights. The Mineral Reserves for the NICO deposit in the NWT also contain more than one million ounces of gold, and copper as a minor by-product. The vertically integrated NICO Project is an advanced development stage Critical Minerals development asset that has already received environmental assessment approval and the major mine permits for the facilities in the NWT. The project has also been assessed in positive feasibility and front-end engineering and design (" FEED ") studies that will be updated to reflect the new refinery site.

 

  For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at    www.sedar.com.    The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune, who is a "Qualified Person" under National Instrument 43-101.  

 

  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, 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: the successful completion of the Company's due diligence investigations on 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 COVID-19 pandemic or 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.  

 

  

  

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

 

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Battery-grade cobalt for the electric transition with gold co-production

Fortune Minerals Announces Results of Annual Meeting of Shareholders

Fortune Minerals Announces Results of Annual 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 2025 Annual Meeting of Shareholders held on June 24, 2025 (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 re-appointment of McGovern Hurley LLP as the auditor of Fortune. The presentation made at the Annual Meeting is available on the Company's website.

 

  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.

 

  

  

 

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 Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

 

  Smaller and simpler bismuth circuit with high metal recoveries align with new market demand  

 

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Fortune Minerals Provides NICO Project Commodity Update

Fortune Minerals Provides NICO Project Commodity Update

 

  Bismuth prices have tripled in recent weeks, gold prices are at an all-time high, and the Congo has placed a moratorium on the export of cobalt to support higher prices  

 

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Fortune Minerals Provides an Update of NICO Project Test Work, Rio Tinto Process Collaboration & Feasibility Study

Fortune Minerals Provides an Update of NICO Project Test Work, Rio Tinto Process Collaboration & Feasibility Study

 

  The Company is advancing the NICO Project toward a construction decision with U.S. & Canadian Government financial support from critical minerals supply chain security programs  

 

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Fortune Minerals Announces Second Draw From Convertible Securities Agreement With The Lind Partners

Fortune Minerals Announces Second Draw From Convertible Securities Agreement With The Lind Partners

 

  Proceeds to provide working capital & pre-fund government supported work programs
 

 

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

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Lithium Universe Ltd  Interview with Executive Chairman

Lithium Universe Ltd Interview with Executive Chairman

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce an interview with Executive Chairman, Iggy Tan at the recent Lithium Supply & Battery Raw Materials Conference in Las Vegas. The interview was conducted by The Rock Stock Channel.

Interview Highlights

- Discussions with potential spodumene feedstock offtakers ongoing

- Further talks with potential OEMs on battery grade lithium carbonate offtake

- All work completed on Becancour Lithium Project - waiting for lithium market recovery

- Acquisition of global rights photovoltaic (PV) solar panel recycling technology

- "Microwave Joule Heating Technology" (MJHT) from Macquarie University

- Utilizes microwave technology to selectively heat and delaminate PV cells

- Today only 15% of waste solar cells are recycled, rest end up in land fill

- Difficult to recycle, high temperature furnace, toxic chemicals, low recovery

- To investigate further recovery of silver, silicon, gallium and indium

To Watch the Interview, please visit:
https://www.abnnewswire.net/lnk/S0S4T95N

 

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

 

 

Source:
Lithium Universe Ltd

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Lithium Universe Ltd  PV SOLAR CELL Recycling Acquisition Legal Due Diligence Complete

Lithium Universe Ltd PV SOLAR CELL Recycling Acquisition Legal Due Diligence Complete

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce that further to its announcement dated 18 June 2025 (Announcement), it has now completed legal due diligence to its absolute satisfaction. As such, the Company is now progressing towards completion of the Acquisition (defined below).

ACQUISITION DETAILS

As detailed in the Announcement, the Company has entered into a binding agreement to acquire the global rights to commercially exploit a patented photovoltaic (PV) solar panel recycling technology known as Microwave Joule Heating Technology. The rights will be secured via an exclusive licensing agreement with Macquarie University (MQU), held through an Australian-incorporated holding company, New Age Minerals Pty Ltd (NAM). The transaction will be effected by the Company acquiring 100% of the issued share capital of NAM (Acquisition).

As disclosed in the Announcement, completion of the Acquisition was conditional on the Company completing legal due diligence. This has now been completed to the satisfaction of the Company.

Completion was also conditional on the Company, NAM and MQU entering into a variation to the licensing agreement to reflect the change in ownership of NAM. The parties have since agreed in writing to waive this condition to allow completion of the Acquisition to proceed, with the variation to be entered into with MQU as soon as practicable following completion.

The Company will now proceed to the acquisition of NAM.

 

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

 

 

Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

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