Fortress Minerals Corp.
TSX VENTURE : FST

Fortress Minerals Corp.

July 16, 2008 12:50 ET

Fortress Intercepts 91.8 Metres Grading 1.82 g/t Gold Expands Elena Target to the Southwest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2008) - Fortress Minerals Corp. ("Fortress" or "the Company") (TSX VENTURE:FST) is pleased to announce the results from the 2008 step-out drilling program at the Elena prospect of the Svetloye project located in northeastern Russia. Please see attached map.

Hole PDSC-156 intercepted 1.82 grams per tonne (g/t) gold over 91.8m extending mineralization to the southwest at Elena. Step-out drilling to the south intercepted lower-grade gold mineralization, further expanding the zone of known mineralization at the Elena target. Step out drilling continues at the Elena target along with evaluation of the other eight target areas identified to-date within the Svetloye Project.

Since the start of the 2008 drilling program in late March, 2008, 70 diamond drill holes totalling approximately 9600 metres have been completed. Results for the 19 holes drilled at the Elena prospect for which assays have been received are summarized in the attached table. The 2008 drilling program is focused on step-out drilling at Elena and testing of the additional identified targets. An Induced Polarization geophysical survey is planned for the 2008 season in order to aid drilling within the known target areas and to search for additional zones of covered or "blind" mineralization that are not exposed at surface.



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Gold Gold
TD From To Width grade Width grade
Hole (m) (m) (m) (m) (g/t) (m) (g/t)
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PDSC-149 104.0 6.0 6.7 0.7 0.93
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PDSC-150 122.0 0.0 50.3 50.3 0.40
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PDSC-151 137.0 21.3 35.9 14.6 0.55 including 3.4 1.17
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PDSC-152 185.0 22.0 36.3 14.3 0.54
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PDSC-153 134.0 11.9 45.9 34.0 0.34
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PDSC-154 125.0 31.2 40.2 9.0 0.70
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PDSC-155 122.0 23.5 47.6 24.1 1.27 including 9.0 3.06
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PDSC-156 140.0 0.0 91.8 91.8 1.82 including 23.0 6.12
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and 126.9 135.1 8.2 0.53
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PDSC-157 104.0 38.6 45.6 7.0 0.72
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PDSC-158 143.0 9.6 29.6 20.0 0.92 including 4.0 1.39
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PDSC-159 152.3 17.0 23.0 6.0 0.52
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and 39.1 44.0 4.9 1.70
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and 86.3 103.1 16.8 0.54
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PDSC-160 144.5 5.4 44.0 38.6 1.16 including 10.6 2.00
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PDSC-161 164.0 0.0 7.0 7.0 4.12
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and 24.6 45.2 20.6 2.18 including 18.4 2.40
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and 67.4 110.0 42.6 0.48 including 8.5 1.28
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PDSC-162 134.0 5.0 32.8 27.8 1.34 including 19.3 1.68
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PDSC-163 149.0 5.0 29.0 24.0 0.50
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PDSC-164 176.0 no significant intercepts
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PDSC-165 113.0 no significant intercepts
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PDSC-166 152.0 no significant intercepts
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PDSC-168 148.3 no significant intercepts
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Lukas Lundin, President of Fortress, commented, "We are very pleased to see the continued expansion of the Elena zone. This large target remains open for further growth and we look forward to more drilling success in our ongoing program."

The Elena Target is one of nine prospects at the Svetloye Project along an eight kilometre long zone of epithermal gold mineralization. Gold is associated with extensive zones of vuggy silica and alunite. This style of mineralization is common to Pierina, Veladero and other high sulphidation epithermal deposits. Fortress currently has a 100% interest in the Svetloye Project. The Company has granted an option, expiring December 31, 2008, to Gazprombank to purchase 51% of the property, subject to regulatory approval.

James C. Ashleman, Chief Geologist and a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release. A rigorous quality control program has been instituted involving insertion of certified standards, duplicate sampling and extensive check assaying. Samples are crushed and split on site with final sample preparation at the Irgiredmet Laboratory of Irkutsk, Russia (accredited by the State Committee of the Russian Federation for Standardization and Metrology "Gosstandart" of Russia) and/or by ALS Chemex in Vancouver. Assaying by fire assay is performed by the Irgiredmet Laboratory and/or by ALS Chemex in Vancouver, Canada.

ON BEHALF OF THE BOARD

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.

To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0716fst.jpg

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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