Fortune Adopts 2009 Shareholder Rights Plan

June 11, 2009
Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") announces that it has implemented a new Shareholder Rights Plan (the "2009 Plan") as approved by shareholders of the Company at the annual and special meeting of shareholders held on May 20, 2009. As previously announced, the 2009 Plan has been implemented to replace a similar plan adopted by the directors of Fortune Minerals in November 2008, which lapsed on May 3, 2009. The full text of the 2009 Plan will be available for review under the Company's SEDAR profile at www.sedar.com.

Like its predecessor and similar plans adopted by a number of other public companies, the 2009 Plan has been implemented to ensure, to the extent possible, that all shareholders of the Company are treated equally and fairly in connection with any take-over bid for the Company. The 2009 Plan discourages discriminatory, coercive or unfair take-overs of the Company and gives the Company's board of directors (the "Board") time if, in the circumstances, the Board determines it is appropriate to take such time, to pursue alternatives to maximize shareholder value in the event an unsolicited take-over bid is made for all or a portion of the outstanding common shares of the Company (the "Common Shares").

In connection with the implementation of the 2009 Plan, the Board has authorized the issuance of one right (a "Right") in respect of each Common Share outstanding at the close of business on June 10, 2009 (the "Record Time"). In addition, the Board has authorized the issuance of one Right in respect of each additional Common Share issued after the Record Time. The Rights trade with and are represented by Common Share certificates, including certificates issued prior to the Record Time. Until such time as the Rights separate from the Common Shares and become exercisable, Rights certificates will not be distributed to shareholders.

If a person, or a group acting in concert, acquires (other than pursuant to an exemption available under the 2009 Plan or pursuant to a transaction in respect of which the Board has waived the operation of the 2009 Plan in accordance with the terms thereof) Beneficial Ownership (as defined in the 2009 Plan) of 20% or more of the Common Shares, Rights (other than those held by such acquiring person which will become void) will separate from the Common Shares and permit the holder thereof to purchase Common Shares at a 50% discount to their market price.

The issuance of the Rights is not dilutive until the Rights separate from the underlying Common Shares and become exercisable or until the exercise of the Rights. The issuance of the Rights will not change the manner in which shareholders currently trade their Common Shares.

The 2009 Plan has not been implemented in response to, or in contemplation of, any specific take-over bid for the Company. The Board did not adopt the 2009 Plan to prevent a take-over of the Company, to secure the continuance of management or the directors in their respective offices or to deter fair offers for the Common Shares.

About Fortune Minerals
Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO cobalt-gold-bismuth deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.

For further information please contact:

Fortune Minerals Limited
Robin Goad, President - or -
Lindsay Simmons, IR Coordinator
Tel.: (519) 858-8188
Fax: (519) 858-8155

www.fortuneminerals.com

Renmark Financial Communications
Dan Symons, Account Manager - or -
Barbara Komorowski, Account Manager
Tel. (514) 939-3989
Fax. (514) 939-3717


www.renmarkfinancial.com
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