Fortune Valley Resources Inc.
TSX VENTURE : FVX

Fortune Valley Resources Inc.

July 16, 2009 23:11 ET

Fortune Valley Announces Shares for Debt Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2009) - Fortune Valley Resources Inc. ("Fortune Valley" or the "Company") (TSX VENTURE:FVX) announces that it has reached an agreement with Pacific Opportunity Capital Ltd., a company of which an officer of the Company is president, to settle a debt owing to Pacific Opportunity Capital Ltd. in the amount of $20,000 in exchange for 400,000 common shares in the Company at a price of $0.05 per share.

This debt settlement is part of the Fortune Valley's renewal plan that saw the Company reduce its operating costs substantially earlier this year and reduce or extend property payments.

The completion of the shares for debt settlement is subject to acceptance by the TSX Venture Exchange.

The Board of Directors

Fortune Valley Resources Inc.

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