Fortune River Resource Corp.

Fortune River Resource Corp.

January 15, 2010 17:26 ET

Fortune River Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2010) - Fortune River Resource Corp. (TSX VENTURE:FRX)(FRANKFURT:RG7A) has closed its private placement previously announced on December 24, 2009 (NR-08-09). The private placement was oversubscribed and the company issued a total of 6,475,876 million units for proceeds of C$518,070. Each unit was priced at C$0.08 and consisted of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of C$0.10 per share for a period of two years.

The proceeds from the private placement will be used to fund an independent Preliminary Assessment (also called a scoping study) for its wholly-owned Wind Mountain project as well as for working capital. Finders' fees are payable. The private placement and finders' fees are subject to regulatory approval. All securities issued pursuant to the private placement, including common shares, share purchase warrants and finders' warrants issued as finders' fees, carry a legend restricting trading of the securities until May 16, 2010.

About Fortune River

Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The Wind Mountain, East Manhattan, Highland, Baxter, Mud Springs, and Buz projects are located in Nevada and the Drayton project is located in Ontario. The Company's Wind Mountain project, a past-producing open-pit/heap-leach operation, contains an estimated 406,000 ounces of gold in the Measured plus Indicated Resource categories (33.7 million tons averaging 0.411g/t Au, using a cutoff grade of 0.257g/t Au), plus an additional 92,000 ounces of gold in the Inferred category (9.8 million tons averaging 0.308g/t Au, using the same cut-off). Ore Reserves Engineering ("O.R.E.") and Donald E. Ranta, consulting geologist, prepared the resource model and compiled the technical report, which is available on SEDAR. Alan C. Noble, P.E. is the Principal Engineer of O.R.E. and is the Qualified Person for the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

On behalf of the Board,

Joseph Anthony Kizis, Jr., President, Fortune River Resource Corp.

Neither 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. We seek safe harbor.

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