Acquisition of Securities of Fortune Minerals Limited

Toronto, Ontario--(Newsfile Corp. - June 27, 2023) - LRC-AUN LLP ("LRC") announces that it has sold in a private transaction, 75,500,000 common shares of Fortune Minerals Limited (TSX: FT) (the "Company") at a price of approximately $0.01 per share (the "Transaction").

Immediately prior to the Transaction, LRC beneficially owned 75,500,000 common shares, representing approximately 15.8% of the issued and outstanding common shares. LRC now owns zero shares.

LRC's sale of the common shares in the Transaction was made in the ordinary course of its business operations. Depending on market conditions, LRC's view of the Company's prospects and other factors considered relevant by LRC, LRC may acquire securities of the Company from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of the Company.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of the Company at www.sedar.com. LRC's address is c/o 15928 Canada Inc., 199 Bay Street, Commerce Court West, Suite 5300, Toronto, Ontario, M5L 1B9.

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/171539