Fortress Minerals Corp.
TSX VENTURE : FST

Fortress Minerals Corp.

February 11, 2010 08:00 ET

Fortress Minerals Reports Acquisition of Exploration and Mining Licence for the Svetloye Gold Project in Eastern Russia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2010) - Fortress Minerals Corp. (TSX VENTURE:FST) ("Fortress") is pleased to announce that it has received the Exploration and Mining License for the Svetloye Gold Deposit valid until December 31, 2030. This license will allow Fortress to begin production at Svetloye following completion of pre-production exploration works and a Russian technical feasibility study (TKO).

In April 2009 (see Press Release dated April 23, 2009), Fortress reported a 43-101 compliant inferred resource for the Elena, Amy, and Tamara zones of 20.103 million tonnes of ore grading 2.21 grams/tonne (g/t) gold containing 1.428 million ounces of gold. Since that time Fortress has completed 9,577 metres of drilling in 56 diamond drill holes focused primarily on infill drilling at the Amy, Tamara, and Elena targets in preparation for completion of the Russian technical feasibility study. Significant results from this 2009 drilling program are in the attached table.

The Svetloye Project consists of nine zones of mineralization that occur over a linear distance of 8 kilometres. Gold is associated with extensive zones of vuggy silica, quartz-alunite and quartz-dickite-kaolinite alteration. This style of mineralization is common to Pierina, Veladero and other high sulphidation epithermal deposits.

Lukas Lundin, President of Fortress, commented, "The receipt of this Exploration and Mining license is a key achievement for the Company and will enable the Company to advance the Svetloye Deposit to the production stage. The Company continues to expand aggressively into the Russian Far East, which we believe to be one of the most prospective regions in the world for precious and base metal deposits."

Fortress now controls a 100% interest in the Svetloye Deposit where winter road mobilization to support the 2010 program is currently underway. In addition, through a Joint Venture acquisition with Freeport-McMoRan Exploration Corporation ("FMEC"), the Company is currently completing a 6,000-metre drill program as part of earn-in requirements to obtain a 51% interest in three copper and copper-gold projects in the Russian Far East (see Press Release dated September 29th, 2009).

The technical information contained in this news release was reviewed by James C. Ashleman, Chief Geologist, P.Geo., and a Qualified Person as defined by National Instrument 43-101. A rigorous quality control program has been instituted involving insertion of certified standards and duplicate sampling. Samples are crushed and split on site with final sample preparation at the Irgiredmet Laboratory of Irkutsk, Russia (accredited by the State Committee of the Russian Federation for Standardization and Metrology "Gosstandart" of Russia). Assaying by fire assay is performed by the Irgiredmet Laboratory.

ON BEHALF OF THE BOARD

Lukas H. Lundin, President and CEO

This news release contains forward-looking statements concerning the Company's plans for its properties. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's periodic filings with the British Columbia Securities Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

            Gold Silver
Hole Area TD From To Width Grade Grade
    (m) (m) (m) (m) (g/t) (g/t)
PDSC-243 Amy 219.4 20.4 60.4 40 3.68 8.0
    Including 20.4 38.6 18.2 3.70 5.5
    And including 48.4 56.3 7.9 9.57 25.8
PDSC-244 Amy 220.5 6.2 36.2 30 1.54 3.5
    Including 23.2 34.2 11 3.02 8.1
    And 42.8 142.2 99.4 1.03 <1.0
    Including 82.3 104.1 21.8 1.53 2.0
    And including 116 120.8 4.8 4.81 1.7
    And 205 220.5 15.5 1.45 <1.0
PDSC-247 Amy 220 18 91 73 1.51 1.5
    Including 18 27.2 9.2 5.00 6.3
    And including 81.4 88.6 7.2 3.55 1.8
PDSC-249 Amy 224 16.6 168.7 152.1 0.52 <1.0
    Including 97.1 110.6 13.5 1.40 1.1
    And including 117.4 122 4.6 4.10 1.7
PDSC-250 Amy 233 108.4 185.8 77.4 1.33 3.3
    Including 79.7 84.2 4.5 1.35 1.4
    And including 112.4 128.8 16.4 1.06 1.4
    And including 151.6 154 2.4 29.60 80.4
    And 202.5 206.9 4.4 0.90 <1.0
PDSC-252 Amy 224 14.4 75.2 60.8 2.62 ~1.0
    Including 36.2 45.8 9.6 8.56 1.7
    And including 50 68.5 18.5 3.37 1.6
    And 91.7 177 85.3 0.37 <1.0
    And 211.6 224 12.4 4.77* 82.1
    Including 211.6 216.9 5.3 10.36* 191.4
PDSC-262 Amy 161 0 75.5 75.5 1.31 2.6
    Including 10.8 50.4 39.6 1.71 3.9
    And including 62 75.5 13.5 1.65 <1.0
    And 83.9 92.8 8.9 0.53 <1.0
PDSC-264 Amy 149 8 137.4 129.4 1.04 <1.0
    Including 28.7 58.6 29.9 1.42 <1.0
    And including 69.8 131 61.2 1.18 <1.0
PDSC-281 Amy 221 0 62.1 62.1 2.13 2.7
    Including 25.1 51 25.9 3.33 3.3
PDSC-269 Elena 50 0 38.9 38.9 3.41 10.5
PDSC-271 Elena 123.6 0 27.3 27.3 3.61 2.0
    Including 0 23.2 23.2 4.19 2.2
PDSC-273 Elena 150.1 11.6 62.1 50.5 4.50* 4.0
    Including 32.9 59.4 26.5 7.59* 6.5
PDSC-276 Elena 70.5 7.5 61.5 54 1.61 2.4
    Including 21.3 51.5 30.2 2.42 3.9
PDSC-278 Elena 218 0 87.4 87.4 2.55 4.8
    Including 0 37.6 37.6 4.67 4.0
PDSC-284 Elena 161 0 122.5 122.5 1.76 <1.0
    Including 0 12.3 12.3 4.54 <1.0
    And including 61 108.7 47.7 2.68 10.9
PDSC-289 Elena 100.8 6 80.2 74.2 1.77 8.3
    Including 18.1 80.2 62.1 2.02 9.8
PDSC-293 Elena 102.6 0 71.8 71.8 1.88 15.0
    Including 0 50.6 50.6 2.44 17.4
PDSC-294 Elena 102.6 0 81.8 81.8 2.66 4.4
    Including 0 20.3 20.3 6.48 8.8
    And including 50.6 56.8 6.2 7.31 19.3
* values >30 g/t have been cut to 30 g/t

Note: All intercepts are core length and do not necessarily represent true widths of mineralization. Cut-off grade for the intercepts vary to illustrate general zones of mineralization within holes. A 30 g/t cap grade is used.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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