Fortune Minerals Acquires The Revenue Silver Mine

LONDON, ON - Fortune Minerals Limited has received approval from the majority of disinterested shareholders of the Company to issue an aggregate of 17,744,000 common shares of the Company to the former owners of the Revenue Silver Mine (RSM) in southwest Colorado. The issuance of these shares is the final installment to complete the purchase of a 100% interest in the RSM. With the RSM acquisition, Fortune has successfully transitioned to a producing mining company with two organic development assets to grow the business.

The RSM is an operating high-grade, underground silver mine with a 400-ton per day mill and concentrator located in an underground excavation. The mine is situated on 146 patented and unpatented mining claims, totaling approximately 1,095 acres in southwest Colorado, 11 km southwest of the town of Ouray and 490 km southwest of Denver. The RSM is an historic producer that operated between 1876 and 1912 by Caroline Mining Co. and had production estimated at approximately 15 million ounces of silver before the mine closed. The RSM is located in the prolific Sneffels silver mining district where there are many past producers. Fortune believes there is very good potential to identify additional resources on the mine property and in the district generally.

Fortune is a diversified North American mining and development company that owns and operates the Revenue Silver Mine in Colorado. The Company is developing the vertically integrated NICO gold-cobalt-bismuth-copper project that is comprised of a proposed mine and mill in Canada's Northwest Territories ("NT") that will produce a bulk concentrate for shipment to a refinery in Saskatchewan for processing to high value metal and chemical products. Fortune is also developing the Arctos anthracite metallurgical coal project in British Columbia and owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT.