Published: January 11, 2016 |

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Fortune Minerals Limited subsidiary SGS Canada Inc. has produced a premium high purity cobalt sulphate heptahydrate sample from cobalt sulphate product previously produced for the company in a pilot plant from concentrates originating from the NICO Gold-Cobalt-Bismuth-Copper deposit ore.

This premium grade ultra-pure sample exceeds the chemical specifications for cobalt sulphate heptahydrate received from several large manufacturers of lithium ion batteries.

SGS produced the sample to provide product for testing by a potential off-take customer and to test minor changes to the process flow sheet the company plans to utilize at its proposed refinery near Saskatoon, Saskatchewan.

Fortune continues to advance discussions for off-take agreements for its cobalt product with potential customers to support project financing.

About Fortune Minerals
Fortune is a Canadian development stage mining company focused on advancing the vertically integrated NICO gold-cobalt-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. Fortune also owns the Sue-Dianne copper-silver-gold deposit located 25 km north of NICO and is a potential future source of incremental mill feed. Additionally, the Company maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia that were recently purchased by a provincial Crown corporation.

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