Fortress Minerals Corp.

Fortress Minerals Corp.

October 19, 2009 15:00 ET

Fortress Reports Drill Mobilization Underway to Malmyzh and Limonite Projects, Drilling to Commence Immediately

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) - Fortress Minerals Corp. (TSX VENTURE:FST) ("Fortress") is pleased to announce that the LF-90 core drill and all support equipment and personnel are en route to the Malmyzh and Limonite projects in the Russian Far East. The mobilization is proceeding on schedule and within budget. Fortress plans to complete a 6,000 metre first-pass drilling program at the Limonite and Malmyzh copper and copper-gold projects beginning in early November and concluding in March, 2010. The Malmyzh and Limonite Projects were acquired in late September in a joint venture agreement with Freeport-McMoRan Exploration Corporation ("FMEC") (see Press Release dated September 29, 2009).

The Malmyzh Copper-Gold Project is located 215 kilometres northeast of the City of Khabarovsk near well developed infrastructure including high voltage power lines, the Amur River (a major shipping artery in the Russian Far East) and all season roads that connect the project to the regional Capital of Khabarovsk City and the seaport City of Nikolaevsk at the northern end of the Sea of Japan (see Figure 1). The Malmyzh prospect is held under a 25-year exploration and mining license. Extensive soil sampling, rock sampling and geophysical surveys throughout the license area have identified ten combined geophysical and geochemical targets within a 40-square kilometer area. Limited drilling (1,066 meters in six widely spaced drill holes into four of the identified targets) is very encouraging. The widely spaced holes all contain significant mineralization and the targets are large enough such that each of them could contain a significant porphyry deposit (see Figure 2). Results of FMEC's reconnaissance drilling include drill hole PDMC-002, which intercepted 215 metres (from 0 to 215 metres) grading 0.34% copper, hole PDMC-004, which intercepted 195.6 metres (from 2 to 197.6 metres at end of hole) grading 0.39% copper and 0.29 grams per tonne gold and hole PDMC-005, which intercepted 181.7 metres (from 12 to 193.7 metres) grading 0.30% copper. Mineralization at Malmyzh is of the copper-gold porphyry style similar to Oyu Tolgoi in Mongolia and Cadia-Ridgeway in New South Wales, Australia.

Drilling will begin at the Limonite Project where approximately 1,000 metres of the planned 6,000 metre diamond drill program will be completed. Limonite is located 450 kilometres northeast of the City of Khabarovsk, and is also near well developed infrastructure.

The Limonite Prospect is characterized by a classic porphyry copper geochemical and geophysical signature (see Figure 3). Excellent potential exists for a supergene enrichment blanket. Once the initial 1,000 metres of drilling is completed at Limonite, the drill, supplies, and crew will be mobilized to Malmyzh where the additional 5,000 metres of drilling will be undertaken. The third prospect acquired, Krasnaya Gorka, is currently being evaluated with a drill program anticipated in the fall of 2010.

The terms of Fortress Minerals' agreement with FMEC are that Fortress receives a 51% ownership position in Amur Minerals LLC ("Amur") by taking operational control of the Amur Company and the three projects under its control and completes, at the Company's sole expense, an aggregate of 12,000 metres drilling at two of the properties held by Amur (Limonite and Malmyzh). FMEC does not retain any "clawback" provisions under the terms of the Agreement.

The three projects are located in the Khabarovsk Krai, Russian Far East, the same administrative subdivision in which Fortress's 100% controlled Svetloye Gold Project is located. The properties represent large porphyry copper and copper-gold prospects and are all located near well developed infrastructure and are accessible by car via an all-season road from the City of Khabarovsk. The acquisition of a 51% ownership interest in Amur is anticipated to result in operational efficiencies for all projects as the Amur properties will be managed administratively using the preexisting personnel and infrastructure.

The technical information contained in this news release was reviewed by Thomas E. Bowens, Chief of Operations, P. Geo., and a Qualified Person as defined by National Instrument 43-101. Fortress believes there was an adequate QA/QC program with assays completed by a Moscow branch of an internationally recognized and certified laboratory. Fortress found no discrepancies in its review of the technical data and core or during the site visit.


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.

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