Fortune Minerals Limited Press Releases

FORTUNE MINERALS ANNOUNCES HIGH-GRADE INTERSECTIONS FROM THE FIRST 10 HOLES OF NICO SUMMER DRILL PROGRAM

Thu, 09 Sep 2010 08:30:00 -0400

Issued Capital: 97,314,407

TORONTO, Sept. 9 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to announce the results for the first 10 holes from the 38-hole summer drill program at its 100% owned NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories. NICO already contains Mineral Reserves of 31 million tonnes, averaging 0.91 g/t gold, 0.12% cobalt, 0.16% bismuth and 0.04% copper, containing 907,000 ounces of gold, 82 million pounds of cobalt, 109 million pounds of bismuth and 27 million pounds of copper (see Fortune news release, dated January 14, 2010(1)). Additional drilling was conducted this summer to test for extensions to the known deposit where it remains locally open for expansion, particularly in the gold-rich parts of the deposit, and also to better define the deposit perimeter for detailed production scheduling. The results received from the first 10 drill holes were very successful, identifying additional high-grades, locally up to 38.4 g/t gold, 2.47% cobalt and 1.8% bismuth. The results include broad intersections with significantly higher grades than the deposit average, and include intersections outside the current limits of the deposit, and will therefore likely have a positive impact on the Mineral Reserves when they are updated after receipt of the remaining drill results.

Significant results from the first 10 holes include:

    <<
    -   51.3 metres, averaging 2.22 g/t gold & 0.11% cobalt, including 13.0
        metres averaging 4.93 g/t gold and 0.16% cobalt, and 3.0 metres,
        averaging 15.59 g/t gold, 0.46% cobalt, 0.05% bismuth & 0.20% copper
        in NICO-10-300;
    -   4.0 metres, averaging 4.68 g/t gold, including 2.0 metres averaging
        10.6 g/t gold in NICO-10-299;
    -   20.1 metres, averaging 0.31% cobalt & 0.54% bismuth in NICO-10-293; &
    -   13.0 metres, averaging 0.38% cobalt & 0.37% bismuth in NICO-10-292.
    >>

Notably, in the lower part of NICO-10-300, the high-grade gold and cobalt intersected proved the continuity of the high-grade gold zone on Section 24 West and its projection from adjacent sections of the deposit where there had been a gap between broadly spaced drill holes. This hole also included large intersections in both the Middle and Lower Zones that are higher grade relative to nearby holes in this part of the deposit. The gold-rich intersection identified in the lower part of NICO-10-299 successfully extended the gold zone on Section 19 West down the projection of dip where it remains open for potential future expansion at depth. Conversely, the high-grade cobalt and bismuth intersection from NICO-10-293 extended the NICO deposit up the projection of dip towards surface on Section 18+50 West, not only increasing the grade, but also reducing waste rock stripping in this area of the deposit. Holes NICO-10-291 and -292 have extended the ore zone to depth on Section 25+50 West on the western side of the NICO deposit. The remaining 5 (of the first 10 holes) intersected only narrow intervals of mineralization and this data will not have a significant impact on the size and grade of the NICO deposit. Additional drill results will be released as they become available.

    <<
    (1) For additional information on the NICO mineral reserves, please see
    Fortune Minerals' News Release, dated January 14, 2010 and the
    information posted for the Company on the SEDAR website at www.sedar.com.
    Eugene Puritch, P.Eng. and Fred H. Brown, CPG PrSciNat, both of P&E
    Mining Consultants Inc., are the Qualified Persons responsible for the
    NICO mineral reserves under NI 43-101.
    >>

In addition to the 38 exploration holes drilled into the NICO deposit, 33 short geotechnical holes were also drilled in the vicinity of the proposed mill and concentrator to assess bedrock quality for the design of building and equipment foundations. The geotechnical part of the program was supervised by EBA Engineering Ltd. A large diameter hole was also drilled to the bottom of the proposed pit for hydrogeological purposes, to measure rock permeability and install a multilevel monitoring well to assess ground water quality in the deepest part of the proposed mine. The installation of this well was conducted under the supervision of Golder Associates Ltd. and Slumberger Canada Ltd. in order to address a request by government regulators pursuant to the Environmental Assessment ("EA") process the NICO project is undergoing for mine permitting.

The NICO project consists of a proposed mine and concentrator in the Northwest Territories, located 160 km northwest of the City of Yellowknife, and hydrometallurgical process plant near Saskatoon, Saskatchewan where NICO concentrates will be processed to gold doré, 99.8% cobalt cathode, 99.99% copper cathode and 99.99% bismuth ingot or 99.5% cathode. Both sites are currently in the EA process for permitting. NICO has already been assessed in a positive definitive feasibility study by Micon International Limited that was updated in 2008 and shows an attractive rate of return for the development (see Fortune news release, dated May 8, 2008).

The NICO drill program is being conducted under the site supervision of Dr. Andrew Dalby, Ph.D., and Robin Goad, M.Sc., P.Geo. is the Qualified Person for the purposes of NI-43-101. Split core samples of typically 1 metre lengths are being assayed at ALS Canada Ltd. with a quality assurance program of standards and blanks to verify analytical accuracy. A table of results for all of the significant drill results for the first 10 holes of the 2010 NICO summer program is appended to this release below.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the Sue-Dianne copper-silver deposit and other 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.

This press release contains forward-looking information. This forward-looking information includes statements with respect to, among other things, proposed development of the NICO project, the potential for increasing reserves at the NICO project, and the proposed development of the Saskatchewan Metals Processing Plant ("SMPP"). Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, the inherent volatility of metal prices, the risk that the Company may not be able to arrange the necessary financing to construct and operate the NICO mine and the SMPP, uncertainties with respect to the receipt or timing of required permits for the development of the NICO project and the SMPP, the possibility of delays in the commencement of production from the NICO project and construction of the SMPP and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

    <<
                     NICO DRILL HOLE LOCATIONS & RESULTS
                     -----------------------------------
    -------------------------------------------------------------------------
                           CORE     TRUE
       FROM       TO      LENGTH    WIDTH   GOLD    BISMUTH  COBALT  COPPER
      metres    metres   (metres) (metres)  (g/t)     (%)      (%)     (%)
    -------------------------------------------------------------------------
    NICO 10-300 Line 24+00 West, 346 m North, 200 degrees azimuth,
    -56 degrees dip, 169 m depth
    -------------------------------------------------------------------------
        52.00     85.00    33.00    32.41        -     0.28     0.07    0.01
    -------------------------------------------------------------------------
     *62.00     65.00     3.00     2.95        -     0.46     0.20    0.01
    -------------------------------------------------------------------------
     *78.00     80.00     2.00     1.96        -     1.80     0.13    0.04
    -------------------------------------------------------------------------
       111.71    163.00    51.29    50.37     2.22     0.04     0.11    0.08
    -------------------------------------------------------------------------
    *121.00    148.00    27.00    26.51     3.99     0.04     0.12    0.08
    -------------------------------------------------------------------------
    *122.00    124.00     2.00     1.96     7.51     0.14     0.15    0.25
    -------------------------------------------------------------------------
    *129.00    131.00     2.00     1.96     7.36     0.05     0.08    0.01
    -------------------------------------------------------------------------
    *135.00    148.00    13.00    12.77     4.93     0.03     0.16    0.06
    -------------------------------------------------------------------------
    *136.00    139.00     3.00     2.95    15.59     0.05     0.46    0.11
    -------------------------------------------------------------------------
    *137.00    138.00     1.00     0.98    38.40     0.13     1.17    0.20
    -------------------------------------------------------------------------
    NICO 10-299 Line 19+00 West, 352 m North, 200 degrees azimuth,
    -90 degrees dip, 319 m depth
    -------------------------------------------------------------------------
       228.00    232.00     4.00     2.82     4.68     0.01        -       -
    -------------------------------------------------------------------------
    *228.00    230.00     2.00     1.41    10.60     0.02        -       -
    -------------------------------------------------------------------------
    NICO 10-298 Line 19+50 West, 343 m North, 200 degrees azimuth,
    -90 degrees dip, 343.5 m depth
    -------------------------------------------------------------------------
        32.82     33.82     1.00     0.71     0.12        -     0.12       -
    -------------------------------------------------------------------------
    NICO 10-297 Line 18+00 West, 206 m North, 200 degrees azimuth,
    -70 degrees dip, 220 m depth
    -------------------------------------------------------------------------
        96.00     97.00     1.00     0.91     0.34     0.01     0.11    0.01
    -------------------------------------------------------------------------
       100.00    101.00     1.00     0.91     0.12     0.01     0.11    0.01
    -------------------------------------------------------------------------
    NICO 10-296 Line 17+00 West, 120 m North, 200 degrees azimuth,
    -73 degrees dip, 184 m depth
    -------------------------------------------------------------------------
        25.44     27.50     2.06     1.82     0.10        -     0.14       -
    -------------------------------------------------------------------------
        32.55     33.55     1.00     0.88     0.89        -     0.29       -
    -------------------------------------------------------------------------
        39.74     43.65     3.91     3.45     0.65     0.01     0.10    0.01
    -------------------------------------------------------------------------
    NICO 10-295 Line 17+00 West, 208 m North, 200 degrees azimuth,
    -65 degrees dip, 238 m depth
    -------------------------------------------------------------------------
        98.09     99.10     1.01     0.95     0.23        -     0.12    0.01
    -------------------------------------------------------------------------
    NICO 10-294 Line 17+50 West, 205 m North, 200 degrees azimuth,
    -53 degrees dip, 219.5 m depth
    -------------------------------------------------------------------------
        64.84     72.98     8.14     8.06     1.53     0.01     0.07    0.01
    -------------------------------------------------------------------------
     *65.86     67.88     2.02     1.99     4.50     0.02     0.14    0.01
    -------------------------------------------------------------------------
     *66.88     67.88     1.00     0.99     5.33     0.02     0.12    0.01
    -------------------------------------------------------------------------
       117.43    118.43     1.00     0.99     0.50        -     0.69    0.03
    -------------------------------------------------------------------------
    NICO 10-293 Line 18+50 West, 191 m North, 200 degrees azimuth,
    -45 degrees dip, 172 m depth
    -------------------------------------------------------------------------
       102.24    122.35    20.11    20.11     0.01     0.54     0.31       -
    -------------------------------------------------------------------------
    *111.39    118.34     6.95     6.95     0.01     0.79     0.51       -
    -------------------------------------------------------------------------
    *117.36    118.34     0.98     0.98     0.01     0.83     1.22    0.01
    -------------------------------------------------------------------------
    NICO 10-292 Line 25+50 West, 358 m North, 200 degrees azimuth,
    -45 degrees dip, 190 m depth
    -------------------------------------------------------------------------
        67.00     71.00     4.00     4.00     0.01     0.34     0.06    0.01
    -------------------------------------------------------------------------
        85.00     91.00     6.00     6.00        -     0.15     0.08    0.02
    -------------------------------------------------------------------------
        95.00    108.00    13.00    13.00     0.01     0.37     0.38    0.01
    -------------------------------------------------------------------------
     *98.00    103.00     5.00     5.00     0.02     0.70     0.85    0.01
    -------------------------------------------------------------------------
    *100.00    101.00     1.00     1.00     0.01     0.43     2.47       -
    -------------------------------------------------------------------------
       137.50    148.00    10.50    10.50        -     0.17     0.11    0.01
    -------------------------------------------------------------------------
    NICO 10-291 Line 25+50 West, 358 m North, 200 degrees azimuth,
    -70 degrees dip, 199 m depth
    -------------------------------------------------------------------------
       160.18    168.20     8.02     8.02     0.03     0.12     0.04    0.01
    -------------------------------------------------------------------------

    * Included in the larger interval
    - No significant values
    >>

FORTUNE MINERALS REDUCES EXERCISE PRICE AND EXTENDS EXPIRY DATE OF WARRANTS ISSUED UNDER PRIVATE PLACEMENTS

Thu, 26 Aug 2010 16:15:00 -0400

Issued Capital: 97,314,407

LONDON, ON, Aug. 26 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") announced today that it will reduce the exercise price and extend the expiry date of 6,420,999 outstanding common share purchase warrants (the "Warrants") originally issued under private placements completed by the Company in March, May and June, 2009. The expiry date of the Warrants will be extended from September 2, 2010 to September 30, 2010 and the exercise price of the Warrants will be reduced from $0.80 to $0.60, provided that the reduced exercise price will not become effective until September 14, 2010. All other material terms of the Warrants will remain unchanged. The Company will send a notice to Warrantholders advising them of the foregoing changes to the Warrants.

The Company has received the conditional approval of the Toronto Stock Exchange (the "TSX") for the proposed amendment to the Warrants. No Warrants are owned by insiders of the Company or their associates or affiliates.

About Fortune Minerals:
Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the Sue-Dianne copper-silver deposit and other 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.

Fortune Minerals announces railway development strategy for Mount Klappan metallurgical coal project

Mon, 23 Aug 2010 10:36:00 -0400

Rail haulage strategy to Prince Rupert economically attractive

Issued Capital: 97,314,407

LONDON, ON, Aug. 23 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to announce that it has developed a new commercially competitive railway transportation option for haulage of anthracite metallurgical coal products from the Company's Mount Klappan project in northwest British Columbia to the port of Prince Rupert. This new development strategy is based on existing infrastructure and provides a much simpler transportation solution that would allow the Company to rapidly capitalize on the world class resource potential of Mount Klappan and participate in the growing global shortage of high quality metallurgical coals. The railway strategy would also provide access to the Ridley Coal Terminal in Prince Rupert that can load full "Capesize" bulk vessels, making this the preferred point of export for most of the Company's potential customers in the overseas steel industry.

The new railway development strategy is based on quotes that were recently received from the Canadian National Railway Company ("CN"), which operates on the former BC Rail Dease Lake Line to Minaret, 150 km south of Mount Klappan. The roadbed for this railway right-of-way north from Minaret to Mount Klappan and has already been largely constructed and provides an existing transportation corridor that can be upgraded for rail or truck haulage of coal from the mine to Minaret.

Fortune will be required to invest significant capital to upgrade the railway right-of-way as well as make improvements to the CN Rail Dease Lake Line to accommodate 127 car unit trains with 95 tonne car loads and efficient rail speeds. However, this railway development option eliminates a similar amount of capital that would otherwise have been required for truck haulage of coal to Stewart. These savings include elimination of the 100 km access road between the mine and Highway 37, elimination or reduction in the size of the off-site truck fleet, and it also avoids the substantial investment that would have been required to upgrade the bulk terminal facilities in Stewart. Use of the existing infrastructure under the railway option will also reduce the environmental footprint for the development, eliminates concerns for truck and port congestion in Stewart, reduces overall project risk, and provides for more rapid project execution and construction.

Fortune has already engaged Deloitte & Touche Corporate Finance Canada Inc. ("Deloitte") as the Company's financial advisor to pursue strategic alternatives for the advancement of Mount Klappan (see Fortune news release, dated June 30, 2010). Deloitte is assisting Fortune by identifying potential strategic partners for the project and evaluating potential transactions.

Mount Klappan has very large resources and reserves of anthracite metallurgical coal contained in 4 deposit areas, located 150 km northeast of the port of Stewart and 330 km northeast of the port of Prince Rupert. These deposits contain Measured Resources of 107.9 million tonnes, Indicated Resources of 123 million tonnes, plus 2.572 billion tonnes in the Inferred and Speculative classes (see Fortune news release, dated June 22, 2004)(1). Mount Klappan has already been assessed in a positive definitive feasibility study in 2008 by Marston & Marston Inc. ("Marston") (see Fortune news release, dated August 7, 2008)(1). This study assessed the economics of an initial open pit mine in the Lost-Fox deposit area, a wash plant, and mine- and off-site infrastructure to produce 3 million tonnes per year of premium, ultra-low volatile, pulverized coal injection ("PCI") product for the overseas steel industry and other premium metallurgical coal products. Both rail and truck haulage options to the ports of Prince Rupert and Stewart, respectively have previously been assessed. The Proven and Probable In-Situ Mineral Reserves identified in the initial pit in the Lost Fox deposit are 102 million tonnes, producing 61 million PCI product tonnes to support a minimum 20-year mine life. Richard Marston, P.E., is the Qualified Person responsible for the Mineral Resource and Mineral Reserve estimates and the definitive feasibility study in accordance with National Instrument 43-101.

Fortune is working with Marston to update the financial model for its 2008 definitive feasibility study for the Mount Klappan project, using the new transportation data received from CN and other consultants. Fortune expects to receive the results of this updated rail analysis in September. The Company is also engaging local communities to make this project a success for the benefit of all stakeholders.

    <<
    (1) For additional information on the Mount Klappan Mineral Resources
        and Reserves, and feasibility studies, please see the information
        posted for the Company on the SEDAR website at www.sedar.com.
    >>

About Fortune:

Fortune is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other exploration projects in the Northwest Territories. Fortune is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.

This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the proposed development of and anticipated production from the Mount Klappan project, the establishment of a railway link to Prince Rupert and the pursuit of strategic alternatives for the Mount Klappan projects. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risk that the Company may not be able to arrange the necessary financing to construct and operate the Mount Klappan mine and/or the railway link to Prince Rupert, the risk that the Company may not be able to conclude a strategic transaction for Mount Klappan or an agreement with CN for the transportation of coal from Mount Klappan to Prince Rupert, the possibility of delays in the commencement of production from the Mount Klappan project, the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Fortune Minerals Announces Successful Production of 99.99% Bismuth Ingot

Thu, 29 Jul 2010 08:30:00 -0400

Permitting Update for NICO Mine and Saskatchewan Metals Processing Plant

Issued Capital: 97,314,407

LONDON, ON, July 29 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to announce that it has successfully demonstrated the production of 99.99% bismuth ingot (metal) from its 100% owned NICO Gold-Cobalt-Bismuth-Copper Project in the Northwest Territories and Saskatchewan. High purity bismuth ingot with 99.99% purity is the standard product that is typically quoted for sale and traded on global metal markets. The ability to produce bismuth cathode and ingot is a significant improvement to the NICO project since completion of the definitive feasibility study for the project by Micon International Limited in 2007, and the 2008 economic update (see Fortune News Release, dated May 8, 2008)(1).

Fortune previously demonstrated the production of a minimum 99% bismuth cathode powder product. High purity metal ingots can now be poured after smelting this powder in an induction furnace with flux to remove other metal impurities. The metallurgical test work for the NICO project, including two pilot plant tests, has been conducted at SGS Lakefield Research Limited under the supervision of Alex Mezei, P.Eng. in compliance with NI 41-101.

As a result of this and other project improvements, NICO will have average annual production of approximately 34,000 ounces of gold as doré, 3.4 million pounds (~1,550 tonnes) of cobalt as 99.8% cathode, 3.65 million pounds (1,650 tonnes) of bismuth as 99% cathode or 99.99% ingot, and 770,000 pounds (350 tonnes) of copper as 99.995% cathode over the projected 18-year mine life. Fortune has a letter of intent to sell its bismuth production to MCP Group, a Belgium-based company with plants in Europe, North America and China and the world's largest producer of bismuth based products. Fortune is in discussions with other companies interested in purchasing the Company's cobalt production.

NICO is a proposed vertically integrated project consisting of a mine, mill and concentrator in the southern part of the Northwest Territories, 160 km northwest of the City of Yellowknife, and a hydrometallurgical process plant that will be located near Saskatoon, Saskatchewan. The NICO deposit contains 31 million tonnes of mineral reserves containing 907,000 ounces of gold, 82 million pounds of cobalt, 109 million pounds of bismuth and 27 million pounds of copper (see Fortune News Release, dated January 14, 2010)(1). The deposit will be mined by a combination of open pit and underground mining methods. The mill will operate at a planned production rate of 4,650 tonnes of ore per day. Because of the very high concentration ratio of NICO ores, most of the valuable metal would be recovered in only 180 tonnes of bulk concentrate produced per day. This concentrate will be transported by truck and rail to the Company's proposed Saskatchewan Metals Processing Plant ("SMPP") near Saskatoon for refining to high value metal products. Fortune already owns the equipment from the Golden Giant Mine at Hemlo, Ontario, which will be relocated to the Northwest Territories and Saskatoon to reduce initial capital for the NICO project.

(1) For further information regarding details of the NICO Mineral Reserves and Definitive Feasibility Study, please refer to the Company's disclosures on the Sedar website at www.sedar.com

The NICO project is currently in the Environmental Assessment ("EA") process in the Northwest Territories to permit the mine, mill and concentrator. Fortune has completed the collection of baseline environmental information required to prepare its Developers Assessment Report that will outline baseline conditions, assess impacts, and develop mitigation strategies as listed in the Terms of Reference and EA work plan already issued by the Mackenzie Valley Environmental Impact Review Board. The Company has also completed two rounds of community consultation for the project in Yellowknife and the nearby Tlicho communities of Behchoko, Gameti, Wekweeti and Whati.

Fortune has also collected most of the baseline environmental information required to permit the SMPP and has already submitted its Environmental Project Proposal ("EPP") to the Environmental Assessment Branch of the Saskatchewan Ministry of Environment. This EPP describes Fortune's plans for the construction, operation and closure of the SMPP. Meetings have been held with local town and rural municipality representatives to keep them informed of the project. Open houses for the general public will be held this fall as part of the EA and rural re-zoning processes. Fortune will also be working closely with Enterprise Saskatchewan and the Saskatoon Regional Economic Development Authority to streamline the permitting process.

Fortune has engaged BNP Paribas to arrange a US$ 250 million debt facility to finance the NICO project.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.

This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the proposed development of and anticipated production from the NICO Project, the proposed development of the SMPP, demand and market outlook for coal and future coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risk that the Company may not be able to arrange the necessary financing to construct and operate the NICO mine and the SMPP, the possibility of delays in the commencement of production from the NICO project and construction of the SMPP, the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Fortune Minerals announces $2 million flow-through financing

Fri, 02 Jul 2010 09:00:00 -0400

Issued Capital: 97,314,407

LONDON, ON, July 2 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to announce that it has issued 2,535,000 flow-through shares at $0.78 per share under a non-brokered private placement to primarily institutional investors to raise gross proceeds of $1,977,300. The gross proceeds of this offering will be used to incur Canadian exploration expenses on Fortune's properties, including drilling, metallurgical testwork, environmental testing, and engineering studies for its NICO gold-cobalt-bismuth-copper project in the Northwest Territories.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.

Fortune Minerals engages Deloitte as Mount Klappan anthracite metallurgical coal project financial advisor

Wed, 30 Jun 2010 09:00:00 -0400

Issued Capital: 94,779,407

LONDON, ON, June 30 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") announced today that it has engaged Deloitte & Touche Corporate Finance Canada Inc. ("Deloitte") to act as Fortune's financial advisor in pursuing strategic alternatives for the advancement of the Company's world-class Mount Klappan anthracite metallurgical coal project in northwest British Columbia ("B.C."), Canada. Deloitte will assist Fortune in identifying potential strategic partners and evaluating potential transactions.

Fortune's wholly-owned Mount Klappan project contains very large resources and reserves of premium anthracite coal straddling the B.C. Railway right-of-way, 150 km northeast of the port of Stewart and 330 km northeast of the port of Prince Rupert. Both of these Pacific Ocean ports provide access to the global steel industry and are particularly well located to service growing demand for metallurgical coal in Asia.

Mount Klappan has already been assessed in a positive definitive feasibility study in 2008 by Marston & Marston Inc. (Marston), a St. Louis-based firm that, together with its Calgary subsidiary, provides engineering and other services to the coal and oil sands industries (see Fortune news release, dated August 7, 2008). This study assessed transportation infrastructure, an open pit mine, and wash plant that would produce 3 million tonnes per year of premium ultra-low volatile pulverized coal injection ("PCI") products for export to overseas steel customers. The Mount Klappan anthracite coal project is currently in the B.C. Environmental Assessment process.

    <<
                 Mount Klappan 2008 Feasibility Study Results

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                                  BASE CASE
    ULTRA-LOW VOLATILE PCI - US$175/TONNE (Yrs. 1-5) US$150/TONNE (Yrs. 5-20)
       Canadian : US dollar exchange rate - C$ 1.03 = US$ 1
    -------------------------------------------------------------------------
                                            PRE-TAX                AFTER TAX
    -------------------------------------------------------------------------
    IRR                                       28.9%                    21.5%
    -------------------------------------------------------------------------
    NPV (8% DISCOUNT)              C$ 702.7 MILLION         C$ 376.4 MILLION
    -------------------------------------------------------------------------
    CAPITAL (1ST 3 YEARS)                                   C$ 617.2 MILLION
    -------------------------------------------------------------------------


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                           COAL PRICE SENSITIVITY
       Canadian : US dollar exchange rate - C$ 1.03 = US$ 1
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    COAL PRICE                              PRE-TAX  AFTER TAX     AFTER TAX
    US$ / TONNE           PRE-TAX IRR      (8%) NPV        IRR      (8%) NPV
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    US$ 200                     43.8%    C$ 1,600 M      34.0%         957 M
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    US$ 225                     55.0%    C$ 2,161 M      42.4%    C$ 1,319 M
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    US$ 250                     65.7%    C$ 2,711 M      50.4%    C$ 1,673 M
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    US$ 275                     76.2%    C$ 3,266 M      58.4%    C$ 2,031 M
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    US$ 300                     86.6%    C$ 3,818 M      66.1%    C4 2,387 M
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    >>

Anthracite is the highest rank coal with the highest carbon and energy content and the lowest volatile (gas) content of all coals. These unique properties make anthracite ideal for use in a broad range of products, including reductants used in metallurgical processing, blend coals for blast furnace coke replacement, charge carbon for electric-arc steel manufacturing, sinter and PCI used in the manufacture of steel, and carbon filters for water purification. The Mount Klappan project is comprised of four separate deposit areas referred to as the Lost Fox, Hobbit-Broatch, Summit and Nass deposits, and collectively, these contain Measured Resources of 107.9 million tonnes, Indicated Resources of 123 million tonnes, plus 2.572 billion tonnes in the Inferred and Speculative classes (see Fortune's news release dated June 22, 2004). The Proven and Probable In-Situ Reserves contained in the Lost Fox deposit are 102 million tonnes, producing 61 million PCI product tonnes to support a minimum 20-year mine life in the initial open pit at this deposit. Richard Marston, P.E., is the Qualified Person responsible for the resource and reserve estimates and the definitive feasibility study in accordance with National Instrument 43-101.

For additional information on the Mount Klappan Mineral Resources and Reserves, and feasibility studies, please see the information posted for the Company on the SEDAR website at www.sedar.com.

Fortune President Robin Goad stated "we are very pleased to be working with Deloitte on this important advisory mandate for this significant asset. We considered a large field of prospective candidates for this engagement and Deloitte was selected because of their demonstrated knowledge and experience working with leading coal producers and buyers, their strong Canadian-based mining advisory team, and because they have one of the largest Mergers and Acquisitions ("M&A") franchises with offices throughout the globe, including a strong presence in the critical Asian markets."

Jeremy South, Deloitte's Financial Advisory Global Mining Leader commented "Our team of Mining M&A professionals in Canada, Australia and Asia will work closely with Fortune's management team to achieve its goal of accelerating the development of the Mount Klappan Project via securing a strategic financing partner."

About Deloitte

Deloitte offers M&A advice to companies participating in transactions across the globe. With over 3,000 M&A Advisory professionals, Deloitte has one of the largest M&A practices in the world. It has an extensive presence in Asia Pacific - with over 900 M&A professionals based in this region. Deloitte is also a leading global provider of professional services to the mining sector with extensive experience advising on middle market transactions, and a number of active engagements in the coal and steel segments - including advising on completed cross-border mining deals with a combined value of over $2 billion over the past 12 months. The core service team working with Fortune will be based in Deloitte's Global Mining Centers of Excellence in Vancouver, Beijing, Mumbai and Perth; also drawing on experienced professionals from other Deloitte Mining Centres in Toronto, Singapore, Sydney, Moscow, Johannesburg, and Sao Paulo.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.

This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the prospects for a strategic transaction on the Mount Klappan coal project, the size and quality of the Company's mineral resources, demand and market outlook for coal and future coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainty of being able to conclude a transaction with respect to the Mount Klappan project, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating coal prices and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Fortune Minerals commences NICO summer drill program

Wed, 16 Jun 2010 11:40:00 -0400

Issued Capital: 94,779,407

LONDON, ON, June 16 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to report that it has commenced the previously announced summer drill program for its 100% owned NICO gold-cobalt-bismuth-copper project in the Northwest Territories ("NWT"). NICO, located 160 km northwest of the City of Yellowknife and 50 km north of the Tlicho community of Whati, is undergoing an Environmental Assessment to permit a mine and concentrator in the NWT. The Company is also conducting a concurrent process to permit its proposed Saskatchewan Metals Processing Plant ("SMPP") near Saskatoon where it plans to process NICO concentrates to produce high value gold doré, and cobalt, bismuth and copper cathode metal products.

The NICO deposit currently contains Proven and Probable Underground and Open Pit Mineral Reserves of 31 million tonnes, averaging 0.91 g/t gold, 0.12% cobalt, 0.16% bismuth and 0.04% copper, containing 907,000 ounces of gold, 82 million pounds of cobalt, 109 million pounds of bismuth and 27 million pounds of copper (see News Release, dated January 14, 2010(1)). The current drill program is being conducted in order to test for extensions to the known mineral reserves where the orebody remains locally open for expansion at depth and along strike. In particular, there is good potential to expand the gold-rich, deeper parts of the NICO deposit. Additional holes are also being drilled to better define the upper limits of the deposit for detailed pit design and production scheduling in progress. Foraco Drilling Ltd. has been contracted to conduct the drilling, which is presently planned to include approximately 40 drill holes, totalling more than 5,000 metres. Results of this drill program will be announced as assay results become available.

In addition to expansion drilling, a large diameter hole is being drilled to the maximum depth of the proposed open pit for hydrogeological purposes to measure rock permeability and install a multilevel monitoring well to assess ground water quality in the deepest part of the proposed mine. Geotechnical drilling is also being conducted in the plant site area to assess bedrock quality for the design of building and equipment foundations. Approximately 30 employees and contractors are currently working at the NICO site including many from the nearby Tlicho communities. Geologists from the Geological Survey of Canada and NWT Geoscience Office are also working at the NICO site as part of a regional scientific collaboration with Fortune Minerals to study IOCG (Olympic Dam)-type mineral deposits in this area.

(1) For additional information on the NICO mineral reserves, please see Fortune Minerals' News Release, dated January 14, 2010 and the information posted for the Company on the SEDAR website at www.sedar.com. Eugene Puritch, P.Eng. and Fred H. Brown, CPG PrSciNat, both of P&E Mining Consultants Inc., are the Qualified Persons responsible for the NICO mineral reserves under NI 43-101.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.

This press release contains forward-looking information. This forward-looking information includes statements with respect to, among other things, for proposed development of the NICO project, the potential for increasing resources and reserves at the NICO project, and the proposed development of the SMPP. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, the inherent volatility of metal prices, the risk that the Company may not be able to arrange the necessary financing to construct and operate the NICO mine and the SMPP, uncertainties with respect to the receipt or timing of required permits for the development of the NICO project and the SMPP, the possibility of delays in the commencement of production from the NICO project and construction of the SMPP and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

Fortune Minerals releases first quarter 2010 results and reminder of Annual Meeting of Shareholders

Fri, 14 May 2010 12:17:00 -0400

Issued Capital: 94,779,407

TORONTO, May 14 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce that its consolidated financial statements and management's discussion and analysis of financial condition and results of operations for the period ended March 31, 2010 have been filed and will shortly be available on SEDAR (www.sedar.com) or through the Company's web site (www.fortuneminerals.com).

The Company's Annual Meeting of Shareholders will be held at the Fairmont Royal York Hotel, British Columbia Room (Mezzanine Level), 100 Front Street West, Toronto, Ontario, M5J 1E3 on the 18th day of May, 2010 at 4:30 pm. For those persons unable to attend, a second informal meeting for informational purposes will be held at The London Club, 177 Queens Avenue, London, Ontario, N6A 1J1 on the 19th of May, 2010 at 4:30 pm.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.

Fortune Minerals updates NICO Field Programs - Supports Federal Government initiative to streamline northern regulatory process

Tue, 11 May 2010 15:00:00 -0400

Issued Capital: 94,779,407

LONDON, ON, May 11 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to provide a progress report for its recently completed winter drill program on its 100% owned NICO Gold-Cobalt-Bismuth-Copper project in the Northwest Territories ("NWT"). NICO, located 160km northwest of the City of Yellowknife and 50km north of the community of Whati, is in the second phase of an Environmental Assessment to permit a mine and concentrator in the NWT. Bulk concentrate produced from the mine will be transported by truck and rail to the Company's proposed Saskatchewan Metals Processing Plant where it will be further processed to produce gold doré, and cobalt, bismuth and copper cathode high value metal products.

Drilling equipment, fuel and other bulk supplies were mobilized to the NICO site over the winter ice road in February and March by Tlicho Logistics. Geotechnical and environmental drilling was conducted in March by Foraco Drilling Ltd. ("Foraco") to support engineering and construction planning for the mine and concentrator. Seven boreholes were drilled to collect geotechnical data along the centerline of the proposed dam alignments for the comingled tailings and mine rock management area and the effluent polishing pond. Packer testing of the bedrock was also conducted to assess the rock permeability for containment of process water. Thirteen monitoring wells were installed downstream from the dam alignments and the plant site to collect baseline water quality information and to monitor water quality during mine operations. The geotechnical and environmental work was supervised by Golder Associates Limited ("Golder"). Environmental scientists from Golder also collected additional surface and ground water samples, the latter from three deep monitoring wells established in the NICO ore zone to characterize and monitor water quality.

Condemnation drilling was conducted beneath the proposed tailings and mine rock management area to test for the presence of any potential near-surface mineralization that would be sterilized by construction of these facilities. Condemnation drilling was also conducted beneath the effluent polishing pond. The winter drill program was conducted under the supervision of Mr. Robert Van Egmond, B.Sc., P.Geo., who is a Qualified Person under NI 43-101.

Drilling will resume at NICO in mid-June with additional shallow geotechnical holes being drilled in the plant site area to assess bedrock quality for the design of building and equipment foundations. EBA Engineering Limited is conducting the geotechnical work for the construction of buildings and surface infrastructure.

Additional drilling will be conducted in the NICO deposit after completion of the geotechnical drill program in order to test for extensions to the known mineral reserves where the orebody remains open for possible expansion at depth and along strike. Notably, there is good potential to expand the gold-rich part of the deposit. The NICO deposit currently contains Proven and Probable Underground and Open Pit Mineral Reserves of 31 million tonnes, averaging 0.91 g/t gold, 0.12% cobalt, 0.16% bismuth and 0.04% copper, containing 907,000 ounces of gold, 82 million pounds of cobalt, 109 million pounds of bismuth and 27 million pounds of copper. For additional information on the NICO mineral reserves, please see Fortune Minerals' News Release, dated January 14, 2010 and the information posted for the Company on the SEDAR website at www.sedar.com. Eugene Puritch, P.Eng. and Fred H. Brown, CPG PrSciNat, both of P&E, are the Qualified Persons responsible for the NICO mineral reserves under NI 43-101.

Fortune Minerals is pleased to report that the Government of Canada announced last week an "Action Plan" to improve the northern regulatory process and help unlock the resource potential in Canada's North, which is recognized world-wide. The initiative announced by The Honourable Chuck Strahl, Minister of Indian Affairs and Northern Development and Minister of the Canadian Economic Development Agency, will reportedly ensure that Northern regulatory regimes are more effective, predictable and provide greater certainty to industry, Northerners and all Canadians by introducing legislative changes to improve regulatory processes and reduce overlap and duplication. The government has committed $11 million to streamline the regulatory regime and $8 million to support community-based environmental monitoring. Fortune Minerals supports this initiative to ensure shovel-ready projects like NICO, transition the permitting process in a timely manner.

About Fortune Minerals:

This press release contains forward-looking information. This forward-looking information includes statements with respect to, among other things, projected rates of production and sources of revenue for the NICO project, the projected mine life of the NICO project, the proposed purchase and development of the site for the SMPP, and the proposed implementation of corporate income tax incentives by the Saskatchewan government. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, the inherent volatility of metal prices, the risk that the Company may not be able to arrange the necessary financing to construct and operate the NICO mine and the SMPP, uncertainties with respect to the receipt or timing of required permits for the development of the NICO project and the SMPP, the possibility of delays in the commencement of production from the NICO project and construction of the SMPP, uncertainties related to the implementation of the proposed tax incentives and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

Fortune Minerals announces the appointment of Grant Chen to the board of directors

Thu, 15 Apr 2010 11:19:00 -0400

Issued Capital: 94,779,407

LONDON, ON, April 15 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") announces the appointment of Mr. Shou Wu (Grant) Chen to the Company's board of directors. Mr. Chen is Deputy Chairman and CEO of China Mining Resources Group Limited ("China Mining"), a Hong Kong-based company that mines and processes molybdenum, copper, zinc and other metal products in the Peoples Republic of China ("PRC"), and also has a portfolio of investments in Canadian mining companies. China Mining is currently the company's largest shareholder, holding approximately 16.05% of the outstanding shares plus warrants to purchase an additional 3.85% of the outstanding shares, assuming the full exercise of the warrants held by China Mining and the other outstanding warrants to purchase shares in the company are not exercised. "We are very pleased to welcome Grant to our board", said George Doumet, Chairman of Fortune Minerals. "In addition to having expertise in both mining and merchant banking generally, Grant will provide our Company with representation in the fastest growing region in the world for our products as well as specific expertise in Asian capital markets."

Grant Chen graduated from Jilin University, PRC in 1985 with a bachelor's degree in Mineral Resources Exploration and earned a master's degree in Geological Science in 1988. He obtained his master's degree in Business Administration from the Richard Ivey Business School at the University of Western Ontario in Canada in 2003. Prior to joining China Mining, Mr. Chen worked for Standard Bank in the PRC as the senior vice president in the mining and metals division. For the period from 2003 to 2007, Mr. Chen worked for Kingsway Group, an investment banking firm based in Hong Kong, as a senior mining analyst, Golden China Management Inc., a venture capital firm, and as a business development manager for Golden China Resources Corporation, a Toronto Stock Exchange listed company with gold mining operations in the PRC. Mr. Chen has more than 10 years of additional experience working in the precious metals sector and was a council member for the China Gold Society and a research professor in the Shenyang Institute of Geology and Mineral Resources of the Ministry of Land and Resources, PRC.

Fortune Minerals is pleased to add additional strength and diversity to our board as we move steadily closer to our goal of becoming a successful metals and coal producer with operations in Canada, and a global perspective on the markets we will service.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, the Sue-Dianne copper-silver deposit and other 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.