Fortune Bay Announces Grant of Stock Options

HALIFAX, NS January 27, 2023 – Fortune Bay Corp. (TSXV: FOR, FWB: 5QN, OTCQX: FTBYF) (“Fortune Bay” or the “Company”) announces that the board of directors of the Company has approved the granting of 1,100,000 incentive stock options (the “Options”) pursuant to the Company’s Stock Option Plan to its directors, officers, contractors and employees.  Directors and officers were awarded 800,000 of the Options which are exercisable at a price of $0.325 per share, expire on January 25, 2028 and vest over a three-year period.

About Fortune Bay

Fortune Bay Corp. (TSXV: FOR, FWB: 5QN, OTCQX: FTBYF) is an exploration and development company with 100% ownership in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing the 100% owned Strike and Murmac uranium exploration projects, located near the Goldfields Project, which have high-grade potential typical of the Athabasca Basin. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company’s corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company’s website at www.fortunebaycorp.com or by contacting us as [email protected] or by telephone at 902-334-1919.

On behalf of Fortune Bay Corp.

“Dale Verran”
Chief Executive Officer
902-334-1919

NT4