Fortune Minerals Limited — Proxy Solicitation & Information Statement 2023

May 24, 2023

==> picture [428 x 75] intentionally omitted <==

NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that an annual and special meeting (the “ Meeting ”) of shareholders of Fortune Minerals Limited (the “ Corporation ”) will be held at the offices of Fortune Minerals Limited, 617 Wellington Street, London, Ontario, N6A 3R6 on Wednesday, June 28, 2022, at 4:30 p.m. (London time) for the following purposes:

1. to receive the audited financial statements of the Corporation for the financial year ended December 31, 2022 and the auditors’ report thereon;

2. to elect directors;

3. to re-appoint auditors and to authorize the directors to fix the auditors’ remuneration;

4. to consider, and if thought advisable, to re-approve all unallocated options, rights and other entitlements under the Corporation's stock option plan, as set out in further detail in the accompanying management information circular; and

5. to transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) thereof.

Particulars of the foregoing matters are set forth in the management information circular of the Corporation (the “ Circular ”) accompanying this notice (the “ Notice of Meeting ”) and enclosed form of proxy. This Notice of Meeting and the accompanying Circular have been sent or been made available to each director of the Corporation, each shareholder of the Corporation entitled to notice of the Meeting and the auditors of the Corporation.

Registered shareholders of record at the close of business on May 19, 2023 will be entitled to vote at the Meeting. Shareholders who are unable to attend the Meeting are requested to date, complete, sign and return the enclosed form of proxy in order to ensure their representation at the meeting. In order to be effective, properly completed proxies must be deposited with the Corporation’s registrar and transfer agent, Computershare Investor Services Inc. at 8[th] Floor, 100 University Avenue, Toronto, Ontario M5J 2Y1 no later than 4:30 p.m. (Toronto time) on June 23, 2022 or, in the case of any adjournment(s) or postponement(s) of the Meeting, not later than 48 hours (excluding Saturdays, Sundays and holidays) prior to the time to which the Meeting is adjourned or postponed. The proxy voting cut-off may be waived or extended by the Chair of the Meeting at his discretion without notice.

DATED at London, Ontario this 18[th] day of May, 2023.

BY ORDER OF THE BOARD

(signed) “Patricia Penney” Patricia Penney Interim CFO