Fortress Minerals Corp.

Fortress Minerals Corp.

November 25, 2009 09:05 ET

Fortress Reports Drilling Underway at the Limonite Project, Far East Russia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2009) - Fortress Minerals Corp. ("Fortress") (TSX VENTURE:FST) is pleased to announce that drilling has commenced at the Limonite Project in the Russian Far East. The Limonite Project is one of four copper-gold and copper-molybdenum projects in which Fortress acquired a 51% interest in a Joint Venture with Freeport-McMoRan Exploration Corporation ("FMEC") concluded in late September (see Press Release dated September 29th, 2009).

The Limonite Prospect is characterized by a classic porphyry copper-molybdenum geochemical and geophysical signature (see Figure 1). Once the planned 1,000 metre phase 1 drill program is completed at Limonite, the drill, supplies, and crew will be mobilized to the Malmyzh Project where an additional 5,000 metres of drilling will be undertaken.

The Limonite Copper-Molybdenum Project is located 450 kilometres northeast of the City of Khabarovsk near well developed infrastructure including high voltage power lines, the Amur River (a major shipping artery in the Russian Far East) and all season roads that connect the project to the regional Capital of Khabarovsk City and the seaport City of Nikolaevsk at the northern end of the Sea of Japan (see Figure 2). The Limonite prospect is held under a 5-year exploration license. Extensive soil sampling, rock sampling and geophysical surveys throughout the license area have identified a classic geophysical and geochemical target consistent with a porphyry copper-molybdenum system (see Figure 1).

The Malmyzh Copper-Gold Project is located 215 kilometres northeast of the City of Khabarovsk also near well developed infrastructure, including high voltage power lines, the Amur River and all season roads that connect the project to Khabarovsk City and the seaport City of Nikolaevsk. The Malmyzh prospect is held under a 20-year exploration and mining license. Extensive soil sampling, rock sampling and geophysical surveys throughout the license area have identified ten combined geophysical and geochemical targets within a 40-square kilometre area. Fortress believes that previous limited drilling by FMEC (1,066 metres in six widely spaced drill holes into four of the identified targets) is very encouraging. The widely-spaced holes all contain copper and copper-gold mineralization and the targets are large enough such that each of them could contain a significant porphyry deposit (see Figure 2). Results of FMEC's reconnaissance drilling include drill hole PDMC-002, which intercepted 215 metres grading 0.34% copper, hole PDMC-004, which intercepted 195.6 metres grading 0.39% copper and 0.29 grams per tonne gold and hole PDMC-005, which intercepted 181.7 metres grading 0.30% copper (see Press Release dated September 29th, 2009). Mineralization at Malmyzh is of the copper-gold porphyry style similar to Oyu Tolgoi in Mongolia and Cadia-Ridgeway in New South Wales, Australia.

Mr. Lukas Lundin, President and CEO of Fortress Minerals, stated, "The fact that Fortress has been able to organize, mobilize, and initiate this drill program in such rapid fashion confirms our increasing operational capabilities within the Russian Federation. We are very excited by the excellent potential of these new projects which together add significant upside potential to the company and when combined with our 100% owned Svetloye Gold Project, result in an excellent portfolio of gold and copper projects in the Russian Far East."

To view Figures 1 and 2 please click on the following link:

James C. Ashleman, Chief Geologist and Qualified Person as defined by National Instrument 43-101, has reviewed the core, data and results and finds them reliable and relevant. No independent sampling has been done, but FMEC is a well known international mining company and has followed standard industry procedures including an adequate QC/QA program and used Alex Stewart a reputable international laboratory.


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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information