Fortune Minerals Limited Acquires Revenue Silver Mine

October 1, 2014

Client: Fortune Minerals Limited

On October 1, 2014 Fortune Minerals Limited (“Fortune”), through a subsidiary, completed the purchase of a 100% interest in the Revenue Silver Mine (“RSM”) located in southwest Colorado, U.S.A. from the current owners, including Silver Star Resources LLC, Star Mine Operations LLC, Revenue-Virginius Mines Corporation and certain individuals. The aggregate consideration paid and payable by Fortune is approximately US$40 million which includes a combination of cash and common shares of Fortune. A portion of the purchase price was financed through a US$35 million production prepay facility from Lascaux Resource Capital Fund 1 LP (“Lascaux”). The metal prepay facility is to be repaid over a five-year term from a fixed schedule of metal shipments from the RSM, together with cash interest payments.

Norton Rose Fulbright represented Fortune in Canada and the United States on the transactions with a team led by David Knight and including Matt DeArman, Ryan Searfoorce and Randy Aman (finance), Michael Wahl and John Carron (corporate and securities), Lucy Deakins (regulatory) and William Caudill, Zhusong Yang and Ed Heakes (tax).