Mobilization  For Phase One Drilling At Goldfields Project

HALIFAX, NS - Fortune Bay Corp. has received a drilling permit for its Goldfields Project located in northern Saskatchewan. The Company has commenced mobilization for a Phase 1 drilling program. Highlights of the Planned Phase 1 Drill Program: Approximately 5,000 meters of core drilling is planned in 15 holes; and Drilling will be focused on expanding the mineral resources at the Box and Athona deposits through step-out drilling from high gold grades which remain open.

Dale Verran, CEO, said, "We are pleased to have commenced mobilization for our Phase 1 drilling program at Goldfields immediately following receipt of a drilling permit. Our technical team has undertaken an extensive review of the historical data and has developed targets and a drilling plan with the potential to expand the historical mineral resources at both Box and Athona. The last drilling campaign at Goldfields was completed in 2011 and we look forward to reviving exploration on the Project equipped with an improved geological understanding of the deposits."

The Company has identified drill targets at both the Box and Athona deposits. A Phase 1 drilling program has been developed to commence testing these targets through step-out drilling from high gold grades which remain open. The primary objective of the drilling program is to expand the historical mineral resources beyond the extents of the historical mineral resource estimates and current drilling coverage. Recent completion of mineralization models for the deposits, based on structural studies, has facilitated planning of the location and orientation of the initial drill holes.

At Box, step-out drilling is planned both along strike and down-dip of the higher-grade drill intercepts in both Zone A and B, with the objective of establishing continuity of high grades. Drill hole orientation, to the east at a shallow drilling angle, has been designed to optimize drilling efficiency by obtaining significant internal coverage of the Box Mine Granite and intersecting the interpreted mineralized vein-sets at high-angles. Planned drilling at Athona South includes confirmatory drilling to verify the 1930's historical results, infill drilling to establish continuity with mineralization to the north, and step-out drilling to the south.