Fortress Financial Group, Inc.

December 16, 2009 16:18 ET

Fortress Financial Group, Inc. - Update on Offer to Acquire Company's Gold Interests

NEW YORK, NY--(Marketwire - December 16, 2009) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirmed its Statement on December 9, 2009 that it has now received a confirmed Offer to acquire the Company's entire interest in both the "Bouse" and the "South Copperstone" Gold Properties.

The Company's Management has now recommended acceptance of this Offer to both the significant minority interest holders in the "Bouse" and "South Copperstone" Gold Properties and to the Company's Loan Note Holders.

At this time, these third parties remain in discussions with the Company's Management in respect of this Offer. The Company's Management is now confident that an agreement may well be reached between all of the parties and that the terms of the Offer will be amended in order to satisfy all parties. The proposed amendments to the Offer, in order to gain acceptance from all of the parties, have not presented a problem to the Offeree.

The Company's Management and their Advisors remain optimistic that this transaction can be concluded before the end of this month, despite the impending holiday season. Our position remains that of obtaining the best possible deal for our stockholders and to do so as fast as is reasonably expected and possible in respect of transactions of this size and complexity.

The Company confirms that it has not issued any additional shares of its Common Stock whatsoever and that our previously stated "Pricing Guideline" remain unchanged.

Should the Company accept this offer, it will report immediately on a Form 8-K Filing and by a press release. The Company will not comment on market rumors or on the trading in its stock and stockholders are advised to rely upon the Company's regulatory filings and Press Releases for guidance.

On a separate and unrelated issue, the recently appointed Transfer Agent to the Company, Quicksilver Stock Transfer, is still in the process of updating our records and then auditing our Stockholder Register. Quicksilver Stock Transfer has requested that stockholders remain patient whilst they complete their task. They are not yet in a position to deal with the numerous daily enquiries in respect of this information until such time as their Audit is complete. We ask that stockholders respect their wishes in this matter. Rumors of Quicksilver Stock Transfer resigning or being replaced by the Company as its Transfer Agent; are both false and misleading. The Company's Management has absolute faith in its Transfer Agent and fully appreciates the regulatory compliance requirements of the Transfer Agent's function.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually," "projected" or "guidelines." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in filings made by such company with the SEC.