Fundy Minerals

May 21, 2009 02:00 ET


                                           FUNDY MINERALS LTD 
                                           (PLUS MARKET: FUND)
The  Board of Fundy Minerals Ltd ("Fundy" or "the Company"), the Canadian and West African exploration company,
is  pleased  to  update  shareholders on its Flatlands Limestone Project (planned  extraction  project  on  the
Flatlands  claim Group). On 22 April 2009 the Company reported results of their EM 31 geophysical survey  which
indentified seven possible new limestone target zones.  The tests of 5 interval sections of core from Hole F-02-
7  confirmed  the  Flatlands  limestone  to  be of high grade lime exceeding  normal  published  standards  and
specifications for SO2 scrubbing.

The  Flatlands claim group is comprised of 20 claims (area circa 800 acres) located approximately 15 kilometers
west of the city of Campbellton, New Brunswick.  Flatlands host zones of high grade limestone.  The Company  is
embarking  on  a  drilling program to delineate a National Policy 43-101 compliant and  Canadian  Institute  of
Mining, Metallurgy and Petroleum standard as a defined deposit.

The Calcium Oxide results representing the purity and Calcium grade ranged from 54.49 percentage of weight to
55.38 being the equivalent of 97.25 per cent. to 99.84 per cent., purity high grade limestone (CaCO3).

Additionally,  the limestone was measured for any possible metal impurities including tests  for  SiO2,  MgCO3,
Sulfur,  Chlorides,  Zinc,  and Manganese. The results of the Flatlands tests were positive  with  results  for
impurities and contaminants below published by the American Society for Testing and Materials (ASTM) standards.

If  the previously published CaCO3 grade specifications used by New Brunswick Power are used as a benchmark (90
per cent.) the Flatlands lime is well in excess (95.95 to 98.84 per cent) of minimum standards. (Full report is
available  on  the  Company's  website This has  given  the  Board  confidence  in  the
commercial viability of further drilling and extraction activities.

Company Chief Geologist cited "I am pleased with the results of the tests conducted. While this only represents
limestone  intervals  in  one hole at Flatlands, the test results are comparable  to  those  published  by  the
previous  Flatlands  owner in 2003.  This is encouraging and indicates that Flatlands may  host  a  high  grade
limestone deposit and, subject to appropriate permitting, have the potential to supply high grade lime  to  the
power generation industry for SO2 scrubbing. The close proximity of the deposit to a railway line increases the
potential to access several other markets as well as the power generation industry."

Company  CEO  Jeff  Michel cited "Flatlands is an important asset of Fundy. These results are  encouraging  and
build  upon  the recent reporting of seven new interpreted limestone zones. The Company intends to drill  these
zones  in the coming summer field season. Further, we are enthused by the high quality of the deposit and  know
our limestone meets or exceeds the requirements of the largest local end-user."

Scientific or technical information relating to Fundy's activity is based on direct supervision of, or has been
reviewed by, Paul Lemmon, PGeo., Chief Geologist of the Company.

                   The Directors of the Issuer accept responsibility for this announcement.
For further information please contact:

Fundy Minerals Ltd                     Tel. +1 416 238 0361 or +44 (0)207 669 4479

Jeff Michel, Chairman & CEO  

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

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