Fortune Bay Announces Deferral of Non-brokered Private Placement

HALIFAX, March 20, 2020 – Fortune Bay Corp. (TSX-V: FOR) (“Fortune” or the “Company”) today announced that it intends to defer its previously announced non-brokered private placement. The Company will consider a private placement at a future date when fewer economic and market uncertainties exist.

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 ability to complete another private placement. 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 forward-looking 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