Fundy Minerals
LSE : FUND

August 17, 2009 02:00 ET

Options Exercise Directors Dealings

                                                                                                               
                                                                                                               
FOR IMMEDIATE RELEASE                                                    17 AUGUST 2009
                                                       
                                              FUNDY MINERALS LTD
                                              (PLUS MARKET: FUND)
                                                       
                             EXERCISE OF OPTIONS/ISSUE OF EQUITY/DIRECTORS DEALING

The  Board  of  Fundy Minerals Ltd ("Fundy" or "the Company"), a Canadian and West African Exploration  Company
announces  that  following receipt of notice of exercise of options, options, in aggregate are intended  to  be
exercised in respect of 476,471 ordinary shares in the capital of the Company.

The  Board  was  informed that Southwood Partners Ltd. beneficially owned by Jeffrey Michel, Chairman  and  CEO
intends  to  exercise  options in respect of 500,000 Ordinary shares in a cashless  fashion  resulting  in  the
issuance  of  476,471  Ordinary  Shares.  Jeffrey Michel will directly and  indirectly,  have  an  interest  in
8,024,771 Ordinary shares representing 5.34 per cent (previously 5.04 per cent.) of the issued share capital of
the Company.

Following this transaction, the Directors, in aggregate, own 9,314,771 shares, representing 6.2 per cent of the
issued share capital.

The Company has approved the issue and allotment of 476,471 new ordinary shares in the Company.

As  a  result,  Fundy's issued share capital will comprise 150,145,760 ordinary shares of common stock  of  par
value  C$0.01  each.  All  of  these Ordinary Shares carry voting rights. The  above  figure  may  be  used  by
shareholders  as  the  denominator for the calculations by which they will determine if they  are  required  to
notify  their  interest in, or change to their interest in, Fundy under the FSA's Disclosure  and  Transparency
Rules.

                   The Directors of the Issuer accept responsibility for this announcement.

                                                    -ENDS-
                                                       

ENQUIRIES:



Fundy Minerals Ltd                       Tel. +1 416 238 0361 or +44 (0)207 669 4479
Jeff Michel, Chairman & CEO                                   info@fundyminerals.com

Daniel Stewart & Company Plc                                      Tel. 020 7776 6550
Stewart Dick





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