Fortress Minerals Corp.
TSX VENTURE : FST

Fortress Minerals Corp.

May 01, 2007 09:00 ET

Fortress Minerals Corp.: New Gold System Discovered in Huvsgul Region, Mongolia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - Fortress Minerals Corp. ("Fortress" or "the Company") (TSX VENTURE:FST) is pleased to announce the discovery of a new gold system on the Company's Huvsgul block of licenses in northern Mongolia. This system, called the "Ninja prospect" was first identified by reconnaissance teams in 2005. The area was investigated after a reconnaissance team discovered several hundred "ninjas" or illegal gold placer miners working the valleys adjacent to the prospect.

During 2006, a follow-up team was dispatched to the area to determine the source of the alluvial gold. The team identified a covered shear zone hosted vein system extending a minimum of 1 kilometre in length (open to the northwest and southeast) and up to 200 metres in width exposed locally along strike and outcropping through alluvial cover. Limited exposures of vein and host rocks were sampled along strike and 157 rock chip samples were collected averaging 419 ppb gold. Sixteen samples ran in excess of 300 ppb gold with two samples containing in excess of 19 grams per tonne gold. The zone also contains significant silver and copper grades. A high silver value of 53 grams per tonne comes from a sample that also contains 1.98 grams per tonne gold and 1% copper. Another sample with a high copper of 2.12%, included 103 ppb gold and 8 grams per tonne silver.

A follow-up program is planned for 2007 that will include reconnaissance along strike and laterally away from the known mineralization in order to determine its areal extent, and trenching through the alluvial cover in order to channel sample the veins. If results of this program are encouraging, a drilling program will be completed in early 2008.

Mr. Thomas Bowens, M.Sc., P.Geo., Vice President of Exploration and a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release. Samples are prepared and analyzed by Actlabs in Vancouver, B.C. Batches of samples include pulp standards and blanks inserted as part of the Fortress Minerals Quality Control Program at a frequency of one standard for approximately every twenty samples submitted.

ON BEHALF OF THE BOARD

Ron F. Hochstein, President and Chief Executive Officer

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.

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

Contact Information

  • Fortress Minerals Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842