Fortune Minerals Extends Option to Acquire JFSL Alberta Refinery Site for the NICO Critical Minerals Project

LONDON, Ontario — Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) ( www.fortuneminerals.com) is pleased to report that it has secured an additional extension to the option to purchase the JFSL Field Services ULC (“JFSL”) brownfield industrial site in Lamont County, Alberta (see news release, dated January 24, 2022). Fortune plans to construct a hydrometallurgical refinery at this site to process concentrates from the Company’s NICO cobalt-gold-bismuth-copper critical minerals deposit and planned mine and concentrator in the Northwest Territories (“NWT”) (collectively, “the NICO Project”). The JFSL site consists of 76.78 acres of lands in Alberta’s Industrial Heartland northeast of Edmonton and has 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. The facilities are close to sources of process water, natural gas, power oxygen, sulphuric acid, lime and other reagents needed to operate the refinery as well as a commutable pool of engineers and skilled chemical plant workers from the local petrochemicals industry. These are expected to materially reduce capital and operating costs for the NICO Project. Read More
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