Fortress Minerals Corp.

Fortress Minerals Corp.

August 17, 2006 09:30 ET

Fortress Reports Drilling Continues to Intercept Significant Gold at the Svetloye Project in Russia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2006) - Fortress Minerals Corp. (TSX VENTURE:FST) ("Fortress" or "the Company") is pleased to announce the latest results from the drilling program underway at the Svetloye Project in the Russian Far East. Please see attached maps.

Results from three further holes are available and are detailed in the table below. Highlights include Hole PDSC-034 which returned 50.8 metres grading 1.40 gpt gold including 4m grading 5.95 gpt gold and Hole PDSC-033 which returned 20.2 metres grading 0.89 gpt gold.

Inclina- Total Inter-
UTM East tion Length cept From To Gold
Hole ID Type UTM North Azimuth (m) (m) (m) (m) (g/t)
PDSC-034 Core 425300 -60 167.40 50.80 8.00 58.80 1.40
6487525 90 incl. 4.00 28.50 32.50 5.95
and 12.50 82.50 95.00 1.16
PDSC-033 Core 425223 -60 132.10 20.10 0.00 20.10 0.89
6487452 90 and 16.00 98.00 114.00 0.34
PDSC-031 Core 425381 -60 98.10 19.80 8.00 27.80 0.40
6487397 90

In addition, check assay analyses from previously reported Hole PDSC-029 by Dal Geophysical Laboratory in Khabarovsk Russia (news release dated June 27, 2006) were completed at American Assay Labs in Reno Nevada with gold results above those previously reported. However, previous silver results were not supported. All future trace element analyses will be completed by American Assay Labs.

East Inclina- Total Inter-
UTM tion Length cept From To Gold Silver
Hole ID Type North Azimuth (m) (m) (m) (m) (g/t) (g/t)
PDSC-029 Core 425329 -60 89.00 31.50 0.00 31.50 2.64 116.00
6487503 90 Incl. 15.00 0.00 15.00 4.06 177.00
PDSC-029 Core 425329 -60 89.0 31.50 0.00 31.50 3.01 -
6487503 90 incl. 15.00 0.00 15.00 4.06

A total of 27 drill holes (23 diamond and 4 reverse circulation) have now been completed during this current program at the Svetloye Project. All results will be released as soon as they become available.

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. The DalGeophysical Laboratory is accredited by the State Committee of the Russian Federation for Standardization and Metrology (Gosstandart of Russia). Samples from PDSC-031, PDSC-033, and PDSC-034 included pulp standards and blanks inserted as part of the Fortress Minerals Quality Control Program at a frequency of one standard for approximately every ten samples submitted. In addition, all samples have been shipped to American Assay Laboratories in Reno, Nevada for confirmatory analyses. The process of confirmatory analyses in North America will continue throughout the program.

On Behalf of the Board

Ron F. Hochstein, President

This News Release contains forward-looking statements concerning the Company's plans for its principal property in Russia. 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 property in Russia, 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. Samples were prepared and analyses completed at the DalGeophysical Laboratory in Khabarovsk, Russia. The DalGeophysical Laboratory is accredited by the State Committee of the Russian Federation for Standardization and Metrology (Gosstandart of Russia).

To view accompanying maps please click on the following link:

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

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