Fortunate Sun Mining Company Limited

Fortunate Sun Mining Company Limited

February 16, 2012 09:15 ET

Large Gold and Copper-Gold Targets Outlined at Fortunate Sun's Camacho Project in Zacatecas Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Fortunate Sun Mining Company Ltd. (TSX VENTURE:FSM) (the "Company") is pleased to announce a review of the past exploration at the Camacho Project, in Zacatecas, Mexico from a U.S. $1.9 million program conducted by Kinross Gold's Mexican subsidiary, KG Exploracion Mexico S.A. de C.V., between April 2010 and November 2011.

Surface geological mapping, trenching, geophysics and RC and diamond drilling has outlined two large targets on the Camacho project associated with regional NNW trending structures. The project area comprises 1120 hectares and is located approximately 60km west of the Penasquito gold copper-project of Goldcorp.

North Camacho Copper Gold Porphyry target

Two holes MX10D001 and MX10D002 have intersected long intervals of low grade copper gold from beneath overburden along 200 metre intervals open on strike to the north and to the east. The zone of copper and gold increases in width from hole MX10D001 to MX10D002 over a strike of 500 meters and is open to the north and east. The zone is closely related with a north trending magnetic high associated with diorite intrusive dykes. IP and geochemical surveys define the zone over a potential strike of 1000 meters + and width of 200-500 meters. Copper and gold mineralization are associated with fracture controlled sulphides within diorite dykes within a granodiorite intrusive and hornfels Indidura fm sediments. The results of the diamond drill holes are summarized as follows:

Drill Hole MX10D001
From To Interval Copper Gold Silver
(metres) (metres) (metres) (%) (g/t) (g/t)
34.3 109.0 74.7 0.135 0.127
(cut to 3g/t)
143.4 173.5 30.1 0.112 0.149
195.5 214.1 18.6 0.154 0.050
243.0 276.0 33.0 0.116 0.080
293.35 294.80 1.45 6.22 40.40
369.30 369.50 0.20 14.19 45.00
370.80 373.00 2.20 9.32 38.97
Drill Hole MX10D002
From To Interval Copper Gold Silver
(metres) (metres) (metres) (%) (g/t) (g/t)
12.00 231.30 219.30 0.138 0.184
(cut to 3g/t)
77.90 79.15 1.25 8.12 36.57

The gold and copper are increasing in grade and width northward from 01 to 02 drill holes and are open on strike to the north and to the east. Mineralization is defined by a marked structural trend defined by a magnetic high, IP chargeability high and anomalous gold soil geochemistry. In addition several large IP anomalies approximately 500 meters by 500 meters are present immediately to the west of drill holes 01 and 02.

Copper and gold are associated with intense fracturing sulphide stockworks, sericite alteration and intrusive diorite dykes. Narrow zones of high grade gold-silver are associated with strong shearing and sulphides are also present over widths of 0.20 meters to 2.2 meters.

Leona Gold Target

The Leona Gold target area is located 2000 meters SSW of the North Camacho target area along the western flank of a aeromagnetic high associated with a granitic intrusive.

Gold mineralization is associated with disseminated and fracture-fault controlled sulphides and oxides in a north trending fracture zone within sericite and argillic altered Indidura formation siltstones. Mineralization is defined by drilling along a strike of 1000 meters and traced by soil geochemistry in thin alluvial cover for an additional 1000 meters both north and south for a total strike length of 3000 meters. Width of the zone as defined by drilling and soil geochemistry is from 100-200 meters. The gold zone lies on the western flank of a large aeromagnetic anomaly related to a granitic-diorite intrusive and the southern extension of the zone trends into a circular magnetic anomaly.

Results of the drill holes are shown in the following table:

Leona Gold Zone (South Camacho)
From To Interval Gold
Drill Hole (metres) (metres) (metres) (g/t)
MX 2010-D003 115 116 1.0 7.810
349.2 364 14.8 0.404
390.2 421.95 31.8 0.135
MX 2010-D004 161.2 185.0 23.9 0.267
MX 2010-D005 171.00 182.20 11.20 0.25
194.70 205.00 10.30 1.32
221.00 227.00 6.00 0.42
247.60 269.00 21.40 0.62
279.00 310.50 32.50 0.55
MX 2011-D005 6.0 24.0 18.0 0.47
(open west)
MX 2010-D008 51.7 52.35 0.65 14.26
95.15 153.5 58.15 0.129

This is a highly prospective gold trend open on strike to the north, south, and west under thin alluvial cover.

Reg Advocaat, President of Fortunate Sun, commented, "We have an opportunity at Camacho and only systematic drilling will fully evaluate its potential. Fortunate Sun wishes to thank Kinross for accelerating our understanding of Camacho. Their technical expertise and funding has provided Fortunate Sun with numerous drill-ready targets."

Fortunate Sun Mining Company Ltd. is a junior mining exploration company with early stage precious metals exploration projects in Mexico and British Columbia. Fortunate Sun's principal property is the Golconda property consisting of two mineral concessions (6,410 hectares) located in the state of Sonora, Mexico.

Mr. Gary Nordin, MSc., P.Geo. is considered a Qualified Person (QP) as set out under National Instrument 43-101 guidelines and whose comments make up the content of this News Release.

This news release may contain forward looking statements including but not limited to, information regarding geological interpretations, resources, potential timing and content of exploration programs, production schedules and projections, receipt of permits, company financings etc. Forward looking statements refer to events and conditions which have not yet taken place and therefore involve inherent risks and uncertainties. Actual results may differ materially from those anticipated in these statements. Fortunate Sun relies on litigation protection for forward looking statements.

On behalf of the Board of Directors,

Reg Advocaat, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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