08:54 AM EDT, 08/12/2025 (MT Newswires) -- Fortune Bay ( FTBYF ) said Tuesday that it continues to advance the Goldfields project in Saskatchewan and the Poma Rosa project in Mexico.

At Goldfields, an updated preliminary economic assessment is scheduled to be completed in the third quarter. The company said environmental baseline studies have been initiated with terrestrial field work underway and aquatic field work scheduled to commence on September 1, 2025, respectively.

It added development of an engagement plan has been initiated that will support community consultation activities in early Q4 2025 and an exploration drilling program is being planned to test targets defined at the Frontier Lake, Golden Pond, and Triangle Prospects, with the objective of demonstrating resource growth potential.

At Poma Rosa, Fortune Bay ( FTBYF ) is engaging with local communities to restart field work in late 2025. The company completed a review of the historical resource estimate.

Wade Dawe, Executive Chairman, said: "Fortune Bay ( FTBYF ) is entering an active phase, with both Goldfields and Poma Rosa advancing toward key milestones. With disciplined capital deployment and active market engagement, we are positioning the company to deliver meaningful growth by systematically unlocking the full potential of our property portfolio. This includes strengthening our team with key technical appointments, including Dale Verran's addition to the Board of Directors."

Verran said: "At Goldfields, the updated PEA and permitting activities are progressing on schedule, positioning the project to demonstrate its strong economic potential in the current gold price environment while moving it toward development through the commencement of permitting.

He added: "At Poma Rosa, we are laying the groundwork for future exploration and development by fostering transparent, inclusive relationships with local communities, which we view as essential to long-term success."

Fortune Bay's ( FTBYF ) share price rose 4.3% on Monday to a near 52-week high of $0.73 on the TSXV.