FORTUNE BAY ANNOUNCES PROSPECTING RESULTS FROM MURMAC URANIUM PROJECT

HALIFAX, NS, Jan. 23, 2023 /CNW/ – Fortune Bay Corp. (TSXV: FOR ) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce analytical results from a prospecting program completed in Fall 2022 on the 100% owned Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan (see Figure 1).

Analytical results from surface rock samples have been received from the laboratory which include highlights of: Figure 1: Location of Fortune Bay’s Murmac, Strike and Goldfields Projects. (CNW Group/Fortune Bay Corp.) Figure 2: Highlight prospecting assay results for the Murmac Uranium Project. (CNW Group/Fortune Bay Corp.) 8.82% U 3 O 8 from a boulder sample on the Armbruster Corridor providing compelling support for the presence of high-grade, basement-hosted uranium mineralization on the Project.

6.90% U 3 O 8 and 1.69% U 3 O 8 from outcrop samples along the Armbruster Corridor, which validated historical uranium occurrences.

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