Fortune Valley Resources Inc.

Fortune Valley Resources Inc.

October 16, 2009 18:03 ET

Fortune Valley Announces Closing of $250,000 Convertible Debenture Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2009) - Fortune Valley Resources Inc. (the "Company") (TSX VENTURE:FVX) announces that the TSX Venture Exchange has accepted for filing the documents relating to the $250,000 convertible debenture that the Company announced on October 5th it was issuing to Uruguay Mineral Exploration Inc. and that the financing has closed. The debenture is subject to a hold period that expires on February 6, 2010.

Fortune Valley Resources Inc. is a mining company focused on creating shareholder wealth through the development of high quality gold assets in Chile and Argentina.

The Board of Directors

Fortune Valley Resources Inc.

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.

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