Nico Project Interim Land Use Permit

LONDON, ON - Fortune Minerals Limited reported that the Wek'Aezhoi Land and Water Board has approved a Staging (Interim) Land Use Permit for the NICO gold-cobalt-bismuth-copper mine in the Northwest Territories ("NT"). This Staging Land Use Permit allows Fortune to conduct land-based early works at the NICO mine, including staging of equipment and site preparation activities prior to the issuance of the full mine permits anticipated to be received mid-year. Subject to receipt of financing and the full mine permits, the Company will be well positioned to commence construction of the mine and concentrator.

Dr. Rick Schryer, Director of Regulatory and Environmental Affairs for Fortune commented, "This interim land use permit is needed should the Company wish to stage equipment and to conduct early site preparation to facilitate full construction after the final mine permits have been received. This is an additional milestone towards Fortune's goal of developing the NICO mine, which together with planned legacy road and power infrastructure, will contribute positively to local communities and the economy of the Northwest Territories."