Fortune River Resource Corp.

Fortune River Resource Corp.

March 07, 2008 17:04 ET

Fortune River Announces $2.1 Million Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2008) - Fortune River Resources Corp. (TSX VENTURE:FRX)(FRANKFURT:RG7A) reported today that the company has arranged a non-brokered private placement of up to 6.0 million units at a price of $0.35 per unit for gross proceeds of $2.1 million. The units will be comprised of one common share and one-half common share purchase warrant. Each half-warrant can be exercised for one common share at a price of $0.40 per share for a period of two years.

The proceeds of the offering will be used to fund near immediate drilling programs on the company's projects in the United States and for working capital. Finders fees may be payable.

The private placement and finders fees are subject to regulatory approval.

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 Wind Mountain, East Manhattan, Highland, Baxter, Mud Springs, and Buz projects are located in Nevada and the Drayton project is located in Ontario.

On behalf of the Board,

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

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. We seek safe harbor.

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