Fortune Valley Resources Inc.

Fortune Valley Resources Inc.

March 26, 2008 09:30 ET

Fortune Valley Identifies New Silver-Rich Vein Zone at Incahuasi

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Fortune Valley Resources Inc. ("Fortune Valley Resources" or the "Company") (TSX VENTURE:FVX) announces it has identified a new silver-rich vein zone located about 4 km south of the main Incahuasi Este target area. Rock chip samples assaying up to 694 ppm Ag and 4.53% Cu were collected from a 1-2m wide epithermal vein; the discovery appears to represent the southern extension to the main 7 by 3 km Incahuasi Este vein system delineated by the Company to the north. The new vein area has been named Mina Plata.

Michael Gingles, President and CEO commented, "This is the third mineralized vein area identified on the 100 square kilometre Incahuasi property. The Incahuasi Este area continues to show a significant and wide spread mineral system is present. The work now will focus on finding the core of this extensive and prospective exploration area."

Mina Plata was discovered as part of an on-going target generation and detailed mapping program. Additional mapping and sampling are underway to understand how the Mina Plata vein connects with the main Incahuasi Este vein system located roughly 4 kms to the north. The area between the Mina Plata and the Incahuasi Este veins is covered with a thin veneer of post-mineral colluvial material. The known vein areas will be tested as part of the follow-up, phase-2 drill campaign at Incahuasi is scheduled to start in April. A portion of the phase-2 drilling program will be directed toward drilling scout holes in the covered areas.

The outcropping vein has a 340-azimuth orientation that has been exploited by historic mine workings. The abandoned mine exposures show the vein is between 1.2-metres to 2-metres wide. A total of 5 rock-chip channel samples were collected from the site and returned silver values ranging from 57.2 ppm Ag to 694 ppm Ag across the vein. In addition, the vein returned high-grade copper values ranging between 1.09% Cu to 4.53% Cu. Gold values are above detection but generally low. Table 1 summarizes the results of the samples collected on the Mina Plata vein.

Table 1: Results of Mina Plata rock-chip channel samples

Sample Width Ag Cu Au
ID (metres) ppm ppm ppm
11951 1.5 57.2 10,900 0.008
11952 1.3 141.0 13,300 0.008
11953 1.2 537.0 35,700 0.018
11954 1.3 276.0 20,400 0.017
11955 2.0 694.0 45,300 0.030

Mr. William C. (Bill) Howald, AIPG, Certified Professional Geologist # 11041, Fortune Valley Resources' VP Exploration & Corporate Development, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

ALS Chemex performed all analytical testing using industry-standard analytical techniques. Gold was analyzed using fire assay on a 50-gram sample with an atomic absorption finish, and a gravimetric finish on all results greater than 10 ppm gold. Copper determinations were completed using ICP-mass spectrometry for copper determination below 1% copper, and four-acid digestion for values greater than 1% copper. Silver values were determined using an agua-regia digestion and ICP-mass spectrometry.

Fortune Valley Resources Inc. is a Canadian mining exploration company focused on creating shareholder wealth through the acquisition, exploration and development of high quality gold and silver projects in Chile and Argentina. The Company has assembled a highly experienced Board of Directors and management team with proven technical and commercial successes at some of the major gold mines and projects in North and South America. Fortune Valley holds ownership interests in approximately 54,000 hectares exploration concessions in Chile.

On behalf of the Board of Directors

Michael J. Gingles, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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