Fortress Minerals Corp.

Fortress Minerals Corp.

August 04, 2009 09:21 ET

Fortress Acquires Two-Year Extension to Exploration License at Svetloye Project Russia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2009) - Fortress Minerals Corp. ("Fortress") (TSX VENTURE:FST) is pleased to announce that the company has received a two-year Exploration License extension valid until December 31st, 2011 for the Svetloye Project in the Russian Far East. The license extension provides the company with ownership security while exploration and evaluation works continue at the Project.

In April 2009, prior to the current drilling program, Fortress announced inferred resources at the Amy Prospect totalling 5.975 million tonnes averaging 2.43 g/t gold, containing 467,000 ounces of gold. This resource is based on a 10 g/t capped gold grade. This brought the total inferred resources at Svetloye, including Elena, Amy and Tamara to 20.103 million tonnes grading 2.21 g/t gold containing 1.428 million ounces of gold (see Press Release dated April 23, 2009).

The Svetloye Project consists of nine prospects that occur over a linear distance of eight kilometres. Gold is associated with extensive zones of vuggy silica, quartz-alunite and quartz-dickite-kaolinite alteration. This style of mineralization is common to Pierina, Veladero and other high sulphidation epithermal deposits. Fortress owns a 100% interest in the Svetloye Project.

Mr. Lukas Lundin, President and CEO of Fortress Minerals, commented, "We continue to be encouraged by the support we have received from the Russian Ministry and the Khabarovsk Krai administration and are optimistic that our application to convert our Exploration licence to a 25-year Exploration and Mining licence will receive final approval early in 2010."


Lukas H. Lundin, President and CEO

This news release contains forward-looking statements concerning the Company's plans for its properties. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's periodic filings with the British Columbia Securities Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

Neither the 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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