Fundy Minerals
LSE : FUND

November 18, 2009 07:22 ET

EXERCISE OF OPTIONS/ISSUE OF EQUITY/DIRECTORS DEALING

                                                                                                      
                                                                                                      
FOR IMMEDIATE RELEASE                                              18  NOVEMBER 2009
                                                   
                                          FUNDY MINERALS LTD
                                          (PLUS MARKET: FUND)
                                                   
                         EXERCISE OF OPTIONS/ISSUE OF EQUITY/DIRECTORS DEALING

The  Board  of Fundy Minerals Ltd ("Fundy" or "the Company"), a Canadian and West African  exploration
company  announces that following receipt of notice of exercise of options, options, in aggregate  are
intended to be exercised in respect of 2,362,667 ordinary shares in the capital of the Company.

The Board was informed that Southwood Partners Ltd. beneficially owned by Jeffrey Michel, Chairman and
CEO  intends to exercise options in respect of 700,000 Ordinary shares in a cashless fashion resulting
in  the  issuance  of 662,667 Ordinary Shares.  Jeffrey Michel will directly and indirectly,  have  an
interest  in  8,687,438 Ordinary shares representing 5.7 per cent (previously 5.37 per cent.)  of  the
issued share capital of the Company.

Easy  Business Consulting Ltd beneficially owned by Jonathan Harrison, Non-Executive Director  intends
to  exercise  options  in  respect of 1,400,000 Ordinary shares at a cost of  £560  resulting  in  the
issuance  of  1,400,000  Ordinary Shares.  Jonathan Harrison will directly  and  indirectly,  have  an
interest  in 2,400,000 Ordinary shares representing 1.57 per cent (previously 0.67 per cent.)  of  the
issued share capital of the Company.

Terrence  Fuller,  Non-Executive Director, intends to exercise options in respect of 300,000  Ordinary
shares  at a cost of £120 resulting in the issuance of 300,000 Ordinary Shares.  Terrence Fuller  will
directly and indirectly, have an interest in 300,000 Ordinary shares representing .2 per cent  of  the
issued share capital of the Company.

Following this transaction, the Directors, in aggregate, own 11,677,438 shares, representing 7.65  per
cent (previously 6.2 per cent) of the issued share capital.

The Company has approved the issue and allotment of 2,362,667 new ordinary shares in the Company.

As a result, Fundy's issued share capital will comprise 152,508,427 ordinary shares of common stock of
par  value C$0.01 each. All of these Ordinary Shares carry voting rights. The above figure may be used
by  shareholders  as  the denominator for the calculations by which they will determine  if  they  are
required to notify their interest in, or change to their interest in, Fundy under the FSA's Disclosure
and Transparency Rules.

               The Directors of the Issuer accept responsibility for this announcement.

                                                -ENDS-
                                                   

ENQUIRIES:



Fundy Minerals Ltd                       Tel. +1 416 238 0361 or +44 (0)207 669 4479
Jeff Michel, Chairman & CEO                               info@fundyminerals.com

Daniel Stewart & Company Plc                              Tel. 020 7776 6550
Stewart Dick





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