Fortune Bay Appoints Dale Verran as Chief Executive Officer

HALIFAX, May 14, 2020 – Fortune Bay Corp. (TSX-V: FOR) (“Fortune Bay” or the “Company”) today announces the appointment of Mr. Dale Verran as its new Chief Executive Officer effective June 15, 2020. Mr. Verran has over twenty years of experience in the mining and mineral exploration industry in Canada and internationally, including fifteen years in executive management roles at private and public companies.

Mr. Wade Dawe will step down as Chief Executive Officer and will continue with the Company as Chairman. Mr. Dawe has led Fortune Bay and its predecessor companies through a number of value enhancing transactions since 2003 and will continue to provide leadership through his position as Chairman.

“Dale is a recognized business and technical leader with a proven track-record of project generation, discovery and advancement”, said Wade Dawe, outgoing Chief Executive Officer and Chairman. “We are pleased to welcome Dale as CEO of Fortune Bay. The Company is well positioned to enhance shareholder value as it advances the Goldfields and Ixhuatán projects.”

Mr. Verran currently serves as Vice President, Exploration for Denison Mines Corp., with uranium exploration and development projects in Canada. Mr. Verran previously served as Executive Technical Director for a large independent exploration group operating in Africa and as Exploration Manager for a private prospect generator company with a multi-commodity portfolio of projects in Africa.

“I’m looking forward to leading Fortune Bay as CEO and developing an exploration and operational plan to advance the Company’s projects, while also focusing on strategic opportunities and business development activities." said Mr. Verran.

About Fortune Bay

Fortune Bay is in the business of resource property exploration and owns 100% interests in two properties: the Goldfields Project, located in Saskatchewan, Canada and the Ixhuatán Project located in the Chiapas State of Mexico.

Cautionary and Forward‐Looking Statements

Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities laws. Such forwardlooking information, includes, but is not limited to the impact to the Company going forward and its ability to advance its resource projects. While such forward-looking statements are expressed by Fortune Bay, as stated in this release, in good faith and believed by Fortune Bay to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Fortune Bay does not undertake any obligation to release publicly revisions to any forwardlooking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors' own risk.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Sarah Oliver, CFO, Fortune Bay Corp., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: 902-422-1421, E: info@fortunebaycorp.com