April 21, 2008 11:50 ET

Fortress Financial Group, Inc. - Hunt Gold Corporation Update

Company Confirms Hunt Gold Corporation Acquisitions and Clarifies Its Role in Hunt Gold Corporation

NEW YORK, NY--(Marketwire - April 21, 2008) - Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirms that it has voted its controlling stockholding in Hunt Gold Corporation of circa 48% of that Company's stock in order for Hunt Gold Corporation to acquire two additional "Gold" and "Moly" Mining Projects.

These acquisitions were announced by Hunt Gold Corporation this morning.

Hunt Gold Corporation has paid a multi-million dollar settlement to Fortress Financial Group, Inc. as Fortress voted its stock to facilitate these acquisitions; Fortress has agreed to remain as a "passive investor" in Hunt Gold Corporation and has dropped its plans to bid for Hunt Gold Corporation.

Fortress intends to account for this settlement as an "Extraordinary Item" for accounting purposes and will not be reflecting this settlement as operating income.

Fortress Financial Group, Inc. now holds circa 15% of the enlarged outstanding shares of Hunt Gold Corporation Common Stock.

It is expected that previously announced exchange of Fortress Financial Group, Inc.'s stockholdings in its remaining two unquoted Gold Mining Exploration assets, namely "Bouse" and "South Copperstone," for stock in a USA Quoted Gold Mining & Exploration Company, will be completed very shortly. Fortress will receive circa US$800million in this Company's quoted stock.

Stockholders are advised that the Company is now very close to the completion of very substantial acquisitions as announced previously, in addition to several additional acquisitions, not as yet announced.

It is intended to announce all of these acquisitions, complete with the Form 8-K filings with the SEC and "live web sites" for Fortress and all of its new Group Companies, on the same morning. This is expected to be within the next two weeks.

Stockholders are advised to exercise extreme caution in their stock dealings pending these announcements. Should all of these agreements be successfully concluded, it will have an extraordinary and immediate impact upon Fortress Financial Group, Inc.

About Fortress Financial Group, Inc.

Fortress Financial Group, Inc. is primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. It acquired Moneyworx, Inc., a reseller of MasterCard prepaid USA Domestic and International Prepaid Debit Cards. Fortress Financial Group, Inc. will be launching its own label "Fortress" International Debit Card in the second quarter of 2008.

Upon the closure of the Trinity Mercantile Finance Group and the Mortgage Bank acquisitions; Fortress Financial Group, Inc. will be expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the medium term.

The Company is utilizing its substantial Balance Sheet, comprised of quoted and unquoted Gold Mining & Exploration stocks, to aggressively fund a large number of acquisitions in the consumer financial services sector, initially focused on the Mortgage Lending sector.

Fortress Financial Group, Inc. (formerly Great West Gold, Inc.) was a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company retained these Gold Mining Exploration interests as portfolio assets. The Company holds circa 48% of the outstanding stock in Hunt Gold Corporation as an investment. Fortress Financial Group, Inc. is at this time, contemplating increasing its stockholding in Hunt Gold Corporation, given that Company's current stock price which is trading at a substantial discount to its Net Asset Value.

The Company is now exchanging its interest in the "South Copperstone," and "Bouse" Gold Mining Exploration properties for shares of Common Stock in a USA Gold Mining & Exploration Company.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact Information

  • Contact:

    Fortress Financial Group, Inc.
    Alan Santini
    Chief Executive Officer

    Email Contact

    Tel: (954) 840-6961