Fortune River Resource Corp.
TSX VENTURE : FRX
FRANKFURT : RG7A

Fortune River Resource Corp.

February 28, 2007 14:43 ET

Fortune River Adds to Wind Mountain Property; Drilling Continues

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 28, 2007) - Fortune River Resource Corp. (TSX VENTURE:FRX)(FRANKFURT:RG7A) said today that the company has signed an agreement with an individual vendor to lease the WIND 1 through 10 claims, which lie along the western portion of the company's Wind Mountain project. In addition, the company staked 14 additional claims southeast and northwest of the project in order to cover projections of mineralized structures. The newly acquired claims increase the Wind Mountain project to 110 claims (approximately 1,900 hectares).

The company's Phase I drilling program continues, with four holes (856m) of the anticipated 12 reverse-circulation drill holes (approximately 3,500m) completed to date due to equipment breakdowns.

Wind Mountain is a low-sulfidation gold/silver project, located in the highly prospective Walker Lane gold trend in northwestern Nevada. The new claims will become part of the earn-in agreement between Fortune River and Agnico-Eagle (USA) Limited (Agnico-Eagle), a subsidiary of Agnico-Eagle Mines Ltd.

To earn its share, Fortune River must spend US$2.0 million over a maximum of six years. Agnico-Eagle can then either accept a 2% NSR, of which 1% NSR can be purchased for $1.0 million, or Agnico-Eagle can elect to earn back 60% interest by spending $4.0 million over a four year period and producing a bankable feasibility document. Agnico-Eagle can earn a further 10%, for a total of 70%, by loaning or arranging for financing of Fortune River's share of capital required for mine development and construction cost.

The Wind 1 through 10 claims are being leased for annual minimum payments beginning at US$3,000 on signing and escalating to a maximum of $25,000 on the fifth anniversary date of the agreement, and payment of a 3% net smelter royalty (NSR). All annual payments subsequent to the initial payment are advanced minimum royalties, which can be subtracted from any future royalty payment. Up to 2% of the NSR may be purchased at the rate of US$1,000,000 per percentage point.

The property includes the now-closed Wind Mountain open-pit/heap-leach gold mine, from which AMAX Gold/Kinross Gold recovered nearly 300,000 ounces of gold and over 1.7 million ounces of silver between 1989 and 1999 (based on Kinross Gold files). Previous drilling was almost exclusively confined to the search for shallow open-pitable, oxide mineralization.

Highland Project

Newcrest Resources Inc. (Newcrest), a subsidiary of Australian-based Newcrest Mining Limited, has recently submitted for assay the first hole of their four-hole, "deep" core drilling program (a total of 1,652 metres) at Fortune River's Highland project in Nevada. The second core hole has been logged in detail and will now be split and assayed. Detailed logging will continue on the third and fourth holes.

Drayton Project

The company also reported that a +1500m drill program at its Drayton Archean-vein gold project is now expected to begin in early March. The 1,584 ha project is located 10 km southeast of Sioux Lookout, northern Ontario. The 2007 drill program is following up on the company's 2006 drill program, which consisted of ten holes (1,674 metres) and where significant gold intercepts were encountered, including high-grade intervals of up to 14.5 g/t Au over 2.0 metres containing visible gold in quartz + carbonate veins.

About Fortune River Resource Corp.

Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The low-sulphidation Wind Mountain, Highland, Baxter, Mud Springs, and Buz projects in Nevada and the Archean-vein Drayton project in Ontario all have significant high-grade gold potential.

Joe Kizis Jr., (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board,

Joseph Anthony Kizis, Jr., President, Fortune River Resource Corp.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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