FORTUNE MINERALS RECEIVES FINAL WATER LICENCE APPROVAL TO CONSTRUCT AND OPERATE THE NICO MINE

In accordance with the Wek'eezhii Land and Water Board's recommendation (see news release dated June 18, 2014), J. Michael Miltenberger, government of the Northwest Territories (GNWT) Minister of Environment and Natural Resources, has given final approval for the Type A water licence required to construct and operate Fortune Minerals Ltd.'s Nico gold-cobalt-bismuth-copper mine and concentrator. Along with the earlier-issued land use permit (see news release dated June 18, 2014), this constitutes the final step in the permitting process, and the company can now commence construction of the mine upon receipt of project financing and after making the initial closure bond payments to the GNWT. Fortune continues to work with Deloitte Corporate Finance Canada Inc. to secure project financing, and negotiations are advancing with a strategic partner and its banks.