Fortune River Resource Corp.
TSX VENTURE : FRX
FRANKFURT : RG7A

Fortune River Resource Corp.

October 19, 2006 13:21 ET

Core Drilling Begins at Fortune River's Highland Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 19, 2006) - Fortune River Resource Corp. (TSX VENTURE:FRX)(FWB:RG7A) today reported that core drilling has commenced at its Highland low-sulphidation property, located in the Walker Lane gold trend of western Nevada. Newcrest Resources Inc. (Newcrest), a subsidiary of Australian-based Newcrest Mining Limited, is conducting the program as Optionee. Newcrest can earn a 70% interest in Highland by spending US$5.0 million and producing a prefeasiblity study by the fifth anniversary of the agreement (see news release dated November 2nd, 2005).

The anticipated 1,200-meters core program will target an untested area below the company's prior reverse-circulation drilling, which encountered up to 1.5 metres of 66.9 g/t gold and 397.7 g/t silver within an 12.2 metre intercept of 9.5 g/t gold and 109.4 g/t silver in the A Zone (see news release dated December 12, 2003).

Newcrest also recently completed a detailed magnetics geophysical survey over a largely covered portion of the 260-claim (approximately 2,100 hectares) property, east of the area of current drilling and including the Big Hammer target. The company interprets Big Hammer as a separate volcanic dome-related gold/silver mineralized system. Numerous surface samples at Big Hammer contain 0.3 to 1.0 g/t Au, with occasional higher values. Near-surface hot-springs textures exposed on the Big Hammer volcanic dome and extensive areas with low-level gold on the margin of the dome indicate that the main mineralized horizon should lie below shallow reverse-circulation holes (generally vertical and less than 100 m deep) that were drilled for disseminated gold mineralization in the 1980's.

In other news, line cutting is underway at the company's Drayton Project, an Archean-type vein system located in Ontario, where the company reported earlier this year results of core drilling that intersected up to 14.5 g/t Au over 2.0 metres in quartz +carbonate veins (see release dated May 16th, 2006). Detailed 3D IP and magnetics geophysics are planned this fall with follow-up core drilling (approximately 1,500 metres) planned this winter.

In addition, a bond has been posted for 32 drill sites at Fortune River's Wind Mountain project, located in the Walker Lane gold trend approximately 150 km northeast of Reno, Nevada (see news release dated March 1st, 2006). An initial 20-hole (approximately 4,850 metre) reverse-circulation drill program is planned to explore for high-grade feeder faults beneath the disseminated mineralization, with drilling expected to begin in early December, subject to rig availability. The project is at low elevation with minimal snow cover most winters.

Permits have been received and bonds posted for reverse-circulation drilling programs at the company's Baxter Project, where a program of 15 holes (approximately 3,600 metres) is planned, and at the company's Mud Springs Project, where a program of 8 holes (approximately 1,950 metres) is planned. Drilling has been delayed due to the lack of available drill rigs. Both wholly-owned projects are low-sulfidation models within the Walker Lane Gold trend.

About Fortune River Resource Corp.

Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The low-sulphidation Highland, Baxter, Mud Springs, Buz and Wind Mountain projects in Nevada and the Archaen-vein Drayton project in Ontario, all have significant high-grade gold potential.

Joseph A.Kizis, Jr., (P.Geo) is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board,

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

We seek safe harbour.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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