Fortune Minerals advances NICO project with Bismuth Circuit validation and Government support

Proactive - Interviews for investors

Fortune Minerals CEO Robin Goad joined Steve Darling from Proactive to announce that metallurgical test work validation is now essentially complete for the bismuth recovery circuits at the company’s flagship NICO cobalt-gold-bismuth-copper critical minerals project in Canada's Northwest Territories and Alberta. Goad confirmed that the Process Design Criteria for the bismuth circuits has been finalized and delivered to engineering teams for incorporation into an updated Feasibility Study. The development aligns with growing global demand for bismuth—a metal seeing renewed interest amid its use in pharmaceuticals, alloys, and green technologies—as well as soaring prices driven by China’s recent export restrictions on bismuth and other critical minerals. With 12% of the world’s known bismuth reserves, Fortune Minerals is positioned to become a key North American supplier of this increasingly strategic metal. The improved process flows have enhanced the efficiency of bismuth leaching and cementation, leading to higher metal recoveries and an expected reduction in both capital and operating costs. Additionally, the company has validated the efficient regeneration of ferric chloride lixiviant, reducing reagent costs while ensuring environmentally safe disposal of excess process water. Significantly, Fortune also announced the successful production of high-purity 4N (99.99%) bismuth ingots, confirming the commercial viability of its smelting and refining capabilities. These advancements are being supported by 17 million of non-dilutive government contribution including $6.3 million U.S. from the U.S. Department of Defense, underscoring the strategic importance of domestic critical minerals supply chains. The funding is being used to validate process improvements, complete front-end engineering and design (FEED) studies, and secure the remaining permits and authorizations for both the mine and concentrator in the NWT and the hydrometallurgical processing facility in Alberta. #proaxtiveinvestors #fortunemineralslimited #tsx #ft #otcqb #ftmdf #CriticalMinerals #NICOProject #USDoDFunding #CobaltSupply #BatteryMetals #MiningNews #ProactiveInvestors #NorthAmericanMining #MineralSecurity #ResourceInvestment