Gold Ounces in the Ground

Goldfields Project – Current Mineral Resources

The Goldfields Project, located in northern Saskatchewan, hosts the Box and Athona gold deposits. The Mineral Resource Estimate provided below has an effective date of September 11, 2025, and was completed by SRK Consulting (Canada) Inc. 

Deposit Category Tonnes
(Mt)
Au Grade
(g/t)
Total Au
(Moz)
Box Indicated 16.2 1.41 0.73
Athona Indicated 7.8 1.02 0.26
  Total Indicated 24.0 1.28 0.99
Box Inferred 3.4 1.04 0.11
Athona Inferred 4.0 0.78 0.1
  Total Inferred 7.4 0.90 0.21

Source: Fortune Bay press release dated 23 September 2025.

Notes:

  • Mineral resources are not mineral reserves and do not have demonstrated economic viability. 
  • Mineral resources are reported at a cut-off grade of 0.28 g/t gold, constrained within a conceptual open-pit shell. 
  • Mineral resources are reported based on an updated gold price of US$2,600/oz. 
  • All figures are rounded to reflect the relative accuracy of the estimate.

Poma Rosa Project – Historical Mineral Resources 

The Poma Rosa Project (previously Ixhuatán), located in Chiapas, Mexico, hosts the Campamento gold/silver deposit. The historical Mineral Resource Estimate provided below has an effective date of June 22, 2006 by Gary H. Giroux, PEng. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the issuer is not treating the historical estimate as current mineral resources or mineral reserves (see underlying notes regarding disclosure of historical mineral resources).

Deposit Category Tonnes     
(Mt)
Au Grade 
(g/t)
Total Au 
(Moz)
Ag Grade 
(g/t)
Total Ag
(Moz)
Campamento Measured & Indicated 17.6 1.84 1.04 7.79 4.40
Inferred 21.8 1.01 0.70 3.23 2.26

Source: Technical Report titled “2006 Resource Estimation Campamento Gold Project on the Ixhuatán Property, Chiapas State, Mexico” with an effective date of June 22, 2006. This estimate was restated in a 2011 Summary Report available on Fortune Bay’s website and filed on SEDAR (www.sedar.com) under Cangold’s (the operator at the time) issuer profile.

Notes:

  • These historical mineral resources were reported at a bottom cut-off of 0.5 g/t Au.
  • The 2006 Resource Estimate Report was compiled in accordance with Canadian Institute of Mining (2005) standards and best practices for Mineral Resources, adhering to the National Instrument 43-101 Standards of Disclosure for Mineral Projects. Supporting resource data were subjected to quality control by the responsible Qualified Person.
  • Supporting resource data included 94 drill holes totalling 17,956 m with 8,372 gold assay results. Composited (5 m) gold grade (g/t) was interpolated into a block model further constrained by a 3-D model of the mineralization extent using semivariogram and search parameters that were optimized to fit known structural controls on mineralization. Resource classification (confidence) was assigned based on distance to drill coverage and interpretations of grade continuity based on semivariogram analysis.
  • In accordance with NI 43-101 the Poma Rosa historical mineral resource estimate uses the terms “mineral resource”, “inferred mineral resource”, “indicated mineral resource” and “measured mineral resource” having the same meanings ascribed to those terms by the Canadian Institute of Mining, Metallurgy and Petroleum, as the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended.
  • No relevant drilling or assay work has been conducted since 2006 on the Campamento Deposit.
  • An independent Qualified Person will be required to review and validate the historical data and historical estimates and compile an updated current Technical Report in accordance with NI 43-101. 

The technical and scientific information on this webpage has been reviewed and approved by Gareth Garlick, P.Geo., VP Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101. 

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