Fortune Minerals Completes New Option Agreement to Acquire the JFSL Alberta Refinery Site for the NICO Project
Summary
The Alberta Refinery will produce cobalt sulphate for the North American lithium-ion battery industry, bismuth ingots (12% of global reserves) and copper cement - with more than one million ounces of in-situ gold as a countercyclical and highly liquid co-product. JFSL will be entitled to list the Lamont County property for sale during the option period, subject to Fortune’s 90-day right of first refusal to match any third-party offer. Mr Mezei will supervise the test work and process and design engineering for the NICO Project, which the Company is advancing with the recently announced government contribution funding totalling approximately C$17 million (see news releases dated May 16, 2024 and December 5, 2023). The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune, who is a "Qualified Person" under National Instrument 43-101. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.