Announcement Date: 2022-11-01
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Fortune Bay Corp.
Project name: Goldfields
Location: Canada
Commodities: Gold
Highlight: PEA result incl. Post Tax NPV (5%) of CAD $285M & IRR of 35.2%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: HALIFAX, NS November 1, 2022 – Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQX: FTBYF) (“Fortune Bay” or the “Company”) is pleased to announce positive results from the independent Preliminary Economic Assessment (“PEA”) for its 100% owned Goldfields Project (“Goldfields” or the “Project”) located near Uranium City, Saskatchewan. The PEA provides a base case assessment for developing the Goldfields mineral resource by conventional open pit mining methods, and gold recovery with a standard free milling flowsheet, incorporating gravity and leaching of the gravity tails. The economic model supports an operation with low capital cost and high rate of return over an 8.3 year mine life, with average annual production of 101,000 ounces of gold. The PEA was prepared by Ausenco Engineering Canada Inc. (“Ausenco”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The PEA NI-43-101 Technical Report will be filed on SEDAR ( within 45 days of this News Release.
Read More

Pricing Plans

We are a SaaS business and access to announcements and data is by subscription. We offer monthly subscriptions and discounts for annual payments.


$ 10
Per Month

Stay up to date with the global mining industry.

  • The Opaxe Review
  • Search using Explore
  • 40,000 company announcements
  • Access announcements older than 7 days only


$ 100
Per Month

Comes with Alerts and lots of data, perfect for: Mining Companies, Consultants, and Share Traders

  • All Essential plan features; plus
  • Announcement Alerts and Notifications
  • Drilling result comparisons
  • Downloadable intercept data
  • Resources and reserves data