HALIFAX, NS, Dec. 18, 2023 /CNW/ – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that it has entered into a definitive option agreement (the "Agreement"), dated December 15, 2023, with 1443904 B.C. Ltd. (the "Optionee"), an arms-length private company. Pursuant to the Agreement, the Optionee will be granted the right to acquire up to a 70% interest in the Company’s wholly owned Murmac and Strike Uranium Projects (the "Projects") over a three-and-a-half-year period by funding C$6 million in exploration expenditures, making cash payments totalling C$1.35 million, and issuing C$2.15 million in common shares following completion of a going public transaction.
The Projects include mineral claims totalling 19,877 hectares located along the northwestern margin of the Athabasca Basin, near Uranium City, Saskatchewan, in the prolific Beaverlodge mining district where approximately 70 million pounds of U 3 O 8 was produced […]
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