Fortune Graphite Inc.

Fortune Graphite Inc.

April 02, 2012 00:01 ET

Fortune Graphite Inc. Seeks Joint Venture Partnership for Superior Group Graphite Properties; Completes Technical Report NI 43-101

TORONTO, ONTARIO--(Marketwire - April 2, 2012) - Fortune Graphite Inc. (FRANKFURT:ZTWN) is seeking a joint venture partnership to complete a full exploration and drilling program on the Superior Group of graphite carbon mineral claims.

Fortune Graphite Inc. acquired the Superior Group of graphite carbon mineral claims for 1.5 million dollars (CDN) in 2011 and is the legal and registered owner of a total of approximately 5,720 hectares containing graphite carbon. The graphite property is located in the Slocan Mining Division of British Columbia, Canada.

Mineral Claims Good Standing Hectares Tenure Numbers
Superior I - XXXII April, 2015 875 348875 - 347430
Amar - Elie 1-10 April, 2015 250 300990 - 390999
Mother Superior Dec, 2012 400 365015
Superior XXXIII - XXXVI Dec, 2012 1,750 360029 - 360032
Superior 40 Aug, 2012 167 851418
Superior 50 Sep, 2012 208 831908
Koch Dec, 2012 1,380 935249
New Superior 1 - 6 Oct, 2012 418 917489 - 923109
Superior Mar, 2013 272 834063
- 3 Ton Bulk Sample

Over one million dollars (CDN) has been spent from 1998 to 2005 on exploration, sampling, testing, and drilling on the Superior Group of graphite carbon mineral claims.

Completed Work to Date in $CDN
1997 Acquisition Consideration $1,260,000
1998 Exploration Pearson, Hoffman, BLM Engineering, et al.)
1999 Diamond Drilling SNC-Lavelin et al.) $600,000
2000 Exploration George Addie, P. Eng. et al.)
2001 Exploration and Geological - Main Zone $136,000
2001 Testing Assays, Lakefield Engineering
2002 Exploration and Geological - Main Zone $140,000
2003 Administration including filing fees and consultations $40,000
2004 Exploration and Testing of samples $150,000 - $175,000

The engineers, geologists, assayers and consultants who have been on the property and/or worked on the analysis of samples from the property, feel the graphitic inferred reserves have impressive potential and will in all likelihood prove to be a world class deposit in both size and quality.

In February this year, Fortune Graphite Inc. completed and submitted to the BCSC a Technical Report on the Superior - Koch - Amar Property; written in accordance to the Canadian National Instrument 43-101, by Mr. Stephen B. Butrenchuk, P. Geol., P. Geo.

Stephen B. Butrenchuk, P. Geol., P. Geo. is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.

About Fortune Graphite Inc.

Fortune Graphite is a British Columbia Canada company that identifies and brings to market valuable mining properties bearing Graphite Carbon, Gold, Silver & other precious metals.

Safe Harbor

Certain statements above constitute forward-looking statements with respect to Fortune Graphite Inc. and affiliated companies. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the companies to be materially different from any further results, performance or achievements expressed or implied by such forward-looking statements.

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