Fundy Minerals
LSE : FUND

May 19, 2009 02:00 ET

EXERCISE OF OPTIONS/ISSUE OF EQUITY/DIRECTORS DEALING

FOR IMMEDIATE RELEASE                                                           19 MAY 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 2,517,839 ordinary shares in the capital of the Company.

Scott Sparks, Director intends to exercise options in respect of 65,000 Ordinary shares at an exercise
price of 0.04 pence per share. Scott Sparks will have an interest in 290,000 Ordinary shares
representing 0.19 per cent. (previously 0.15 per cent.) of the issued share capital of the Company.

Past Director, David Vanrenen intends to exercise options in respect of 30,000 Ordinary shares in a
cashless fashion resulting in the issuance of 28,800 Ordinary Shares. David Vanrenen will have an
interest in 950,000 Ordinary shares representing 0.63 per cent. (previously 0.66 per cent.) of the
issued share capital of the Company.

Furthermore, the Board was informed that Southwood Partners Ltd. beneficially owned by Jeffrey Michel,
Chairman and CEO intends to exercise options in respect of 2,525,041 Ordinary shares in a cashless
fashion resulting in the issuance of 2,424,039 Ordinary Shares.  Jeffrey Michel will directly and
indirectly, have an interest in 7,548,300 Ordinary shares representing 5.04 per cent. (previously
3.5 per cent.) of the issued share capital of the Company.

Following this transaction, the Directors, in aggregate, own 8,838,300 shares, representing 5.91 per
cent. of the issued share capital.

The Company has approved the issue and allotment of 2,517,839 new ordinary shares in the Company.

As a result, Fundy's issued share capital will comprise 149,669,289 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.



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



Contact Information

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