Fortress Minerals Corp.
TSX VENTURE : FST

Fortress Minerals Corp.

July 25, 2005 11:54 ET

Fortress Minerals Corp.: Teltiin Gol Recon Drilling Program Assays Received, Phase 2 Drill Program Planned

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 25, 2005) - Fortress Minerals Corp. ("Fortress" or "the Company") (TSX VENTURE:FST) is pleased to announce results from the Phase 1 drilling program at Fortress's Teltiin Gol property in northern Mongolia. Based on results of this reconnaissance drill program, Fortress will complete a second phase of drilling at Teltiin Gol beginning in early August.

The first pass drill program was planned to test two competing models for mineralization at Teltiin Gol (Porphyry Copper - Molybdenum Type and Island Arc Porphyry Copper - Gold Type). The uncertainty as to mineralization style resulted from only limited outcroppings of altered and copper - gold mineralized rock extending through abundant soil cover at the property. The recon drill program included 1,072 meters of combined reverse circulation and diamond core drilling in five (5) drill holes (FTG-001 through 005).

Holes drilled to test the Island Arc Copper - Gold Type mineralization (FTG-001 and FTG-004) returned encouraging results. Both holes encountered strongly altered and brecciated rock consisting of sericite, chlorite, clay alteration, magnetite, tourmaline and silica veining, local intense brecciation, and silicic +/- potassic alteration with chalcopyrite-pyrite mineralization. Hole FTG-004 intercepted 38m (30% of the total drill hole) of mineralization with greater than 0.1 gpt gold, including a high of 1.14 gpt over 2 meters. Additionally, gold mineralization correlated well with elevated copper mineralization that included 24 meters (19% of the drill hole) containing in excess of 0.1% Cu with a high of 0.16% over 2 meters. Significant intercepts in Hole FTG-004 include:



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Azimuth/ Depth Interval Length Gold Copper
Hole No. Collar Incl (m) (m) (m) (g/t) (%)
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FTG-004 516250E, 330/ 2.0 -
5484200N -70 126.0 58.0 56 00.17 0.1
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and 14.0 -
26.0 12 0.331 0.15
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Based on the alteration and mineralization character encountered in this first phase of drilling, the property is believed to be of the Island Arc Porphyry Copper Gold type. This determination will enable refinement of drill targeting for the Phase 2 drill program using a combination of ground magnetics surveys (completed in 2004), with surface and downhole geochemical results obtained to date. Specifically, a generally untested northwest trending zone, approximately 2 square km in size, which is characterized by elevated magnetic response (characteristic of Island Arc Porphyry Copper Gold deposits), elevated gold and copper surface geochemistry, and local outcroppings of potassic altered rock that occurs adjacent to hole FTG-004 will be the focus of drilling within the property.

Mr. Michael Sheehan, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical information contained in this news release. Samples are prepared and pulped by Analabs (a subsidiary of SGS Laboratories) in Ulaanbaatar. Acme Analytical Laboratories Ltd., Vancouver assays the pulps. The Company incorporates one of six quality control laboratory standards into the analytical procedure. The standards are provided by Ore Research and Exploration Pty. Ltd. (Australia) and each standard has been evaluated by several recognised mineral testing laboratories in accordance with International Standards Organisation (ISO) recommendations.

Fortress Minerals Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the trading symbol "FST". The Company holds a 51% interest in the Svetloye gold project, an advanced exploration project in Russia, as well as a large land package in Mongolia encompassing key copper/gold prospective regions in the country.

ON BEHALF OF THE BOARD

Ron F. Hochstein, President

This News Release contains forward-looking statements concerning the Company's plans for its principal properties in Mongolia. 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 principal properties in Mongolia, 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.

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

Contact Information

  • Fortress Minerals Corp.
    Ron F. Hochstein
    President
    (604) 689-7842