Fortune Bay to start drilling at the Murmac uranium project this March

Fortune Bay  (TSXV: FOR; OTCQB: FTBYF) – an exploration and mining development company – announced winter drill targets for the Murmac uranium project, located in northern Saskatchewan near Uranium City. The drill targets are supported by the recent completed radon-in-water survey at Howland Lake. The survey produced strong anomalies along strike of the high-grade uranium drill intersections during summer 2024. A winter drilling program, to test these targets, will commence in March 2025.

Exploration work at Murmac is being funded by Aero Energy (TSXV: AERO) and is being operated by Fortune Bay, under an option agreement that was executed on December 15, 2023.

The exploration work involves the following: Lake Water Radon Anomalies, three discrete radon anomalies have been defined within Howland Lake North along strike of drill hole M24-017 that intersected 8.40 metres at 0.30% U₃O₈, with individual assays up to 13.80% U₃O₈ over 0.10 metres. Company workers also defined an additional strong radon anomaly within Howland Lake South, along strike of drill hole M22-012 that intersected 0.17% U₃O₈ over 0.10 metres. The radon-in-water anomalies overlie the targeted electromagnetic ("EM") conductors, which represent the favoured graphite-rich host rocks for basement-hosted deposits related to the Athabasca Basin.

Finally, Drill Target Selection:In addition to the radon-in-water anomalies, drill target selection will be based upon other favorable criteria including conductor breaks/inflections and the location of known mineralized cross faults. Drilling Program: The company will be drilling of up to six holes (approximately 900 metres) to test these targets. A drilling contract has been finalized, and drilling is expected to commence in March 2025.

Gareth Garlick, technical director for Fortune Bay, commented, "Positive drill results from our 2022 and 2024 drill programs, supported by historical drill results, have confirmed the prospectivity of the EM conductors beneath Howland Lake. The presence of radon-in-water anomalies directly overlying the previously untested extents of the targeted conductors, coincident with electromagnetic features of interest and mineralized cross-faulting, provide a compelling set of drill targets. We are excited to initiate drilling at Howland Lake as soon as ice conditions permit."

Further information on Fortune Bay and its assets can be found on the company's website at www.FortuneBayCorp.com.