Fundy Minerals

March 12, 2009 03:00 ET

Marigold Geophysical Results



                                              FUNDY MINERALS LTD

                                              (PLUS MARKET: FUND)
                                         MARIGOLD GEOPHYSICAL RESULTS

The   Board   of   Fundy  Minerals Ltd ("Fundy" or "the Company"), the Canadian and  West  African  exploration
company,  is pleased to report that the Company cut various geophysical grids this fall and completed a  series
of  magnetometer  and  vlf  surveys in preparation for drilling.  We are pleased to  report  on  these  surveys
performed on the Marigold claim groups. This group has previously has yielded promising gold results.

Marigold  claim  group  -  The  Marigold claim group comprises of 21 claims  (area  circa  840  acres)  located
approximately 20 kilometers north east of the former Cape Spencer gold mine, outside of the city of Saint John,
New  Brunswick.  Geodex Minerals holds the Cape Spencer claims and contiguous Armstrong Brook which are located
on  strike  with  the Company's Marigold claim group approximately 15 kilometres to the south west.  Structure,
mineralology  and  alteration of both areas are of a similar nature. The Armstrong Brook claims  were  actively
explored in 2004-2006. Work involved soil sampling, 3D IP surveys, trenching and 1827 metres of drilling on the
new  and  several  of  the  previously recognized mineralized zones.  During the active  work  period  at   the
Armstrong  Brook claims  Geodex reported one notable drill intersection grading 7.86 g/t over 7.4 m,  including
27.2 g/t over 2 m, at the B zone, and 3.6 g/t over 5 m. The Fundy Marigold claims are along strike trending  NE
and resemble the same structural, mineralology and alteration evident at both Cape Spencer and Armstrong Brook.
The Company believes that Marigold may be a gold bearing zone similar to the Armstrong/Cape Spencer group.  The
geophysical work conducted by the Company was employed to assist in possible structural interpretations and  to
assist in spotting potential drill targets.

The  magnetometer  and  VLF surveys covered an area of a combined 28 kilometers. The ground  magnetic  and  VLF
survey was conducted in December 2008 over 19 cut grid lines of 100m spacing and readings at each 25meter  mark
along  lines.  The grid covered claims 397630, 397718, 397719, and 397634, and north above the claim  boundary,
totaling 14.75 kilometers of mag and 14.75 kilometers vlf. Magnetic highs were detected up to 419 nanotesla  nT
above  the  base  level  of 53850 nT. Mag highs and corresponding vlf highs were evident  north  of  the  claim
boundary  and to the north eastern side of claim 397630. Line L900E displayed a mag high of interest  measuring
circa  100 meters wide by 125 meters to the north from 92nT to 419nT above the base level. It appears the  high
extends eastward. North of the claim boundary, 2 wide areas measuring up to 400 meters had various small  highs
ranging  from  125nT  to  150nT  above  the  base of 53850 nT. These  highs  trended  southwest  to  northeast.
Interpreting  the interesting results, some correlations were discovered to structural features  of  the  claim
group property and past exploration of Marigold conducted in the 1980's.  Some total mag anomalies showed highs
that correlated to past soil geochemistry with gold values above 10 ppb, and a past drill hole that intersected
0.508 ounces/tonne over 1 meter (between 9m - 10m) (drilled by Neptune Resources in 1989).

Company  Chief  Geologist  Paul  Lemmon commented, "I am pleased with the  results  of  the  surveys,  as  some
interesting mag results were yielded. This work also correlated to the pre Company historical results that were
anomalous.   It appears the north east trending mag highs may also be associated to a northeast trending  fault
known  to  pass along the north and south boundaries of the property. Gold mineralization associated  with  the
Armstrong  Brook and Cape Spencer (former mine) was frequently associated with faulting and structural  events.
These may be excellent indicators for drill targets which we hope to arrange in 2009".

Scientific or technical information relating to Fundy's activity is based on direct supervision of, or has been
reviewed by, Paul Lemmon, PGeo., Chief Geologist of the Company.

                    The Directors of the Issuer accept responsibility for this announcement

TEL: 020 7628 5582
Duncan Vasey
Barry Hocken

TEL: 001 561 575 1720
Jeff Michel, Chairman / CEO

Notes to Editors:


Fundy was incorporated on 17 March 2004 by founders who have more than 50 years combined geological
experience, and is headquartered in New Brunswick (Canada). The Company is actively  involved  in  the
exploration of gold, diamond and base metals in  Canada  and Africa,  and  the  development  of  mineral

The Company has a 100% interest in eight mineral exploration and development properties in the Province of New
Brunswick. An independent assessment of six of the properties in  New  Brunswick carried  out  in September
2006, found gold deposits in two of the properties and a deposit  model for  one  other  area,  whilst the
three remaining properties reflected base metal  deposits.  All Prospects generated encouraging confirmation of
mineralized zones and strong assay results.

Additionally, the Company owns a high-grade limestone deposit in northern New Brunswick, which is working
towards production.

Fundy  continues  to  explore  the  permitted  area in Liberia,  West  Africa,  where  it  has  been  confirmed
a  significant quantity of gem quality alluvial diamonds have been extracted.  Initial interest in Liberia  was
the  Cestos  shear  and  Todi  shear  belt  for possible gold mineralisation.  In  July  2005,  Fundy  Minerals
announced  an  alluvial  diamond discovery in the southern area of Fundy Minerals'  permit.   The  Company  has
recently concentrated its efforts in an attempt to locate the Kimberlitic source of these diamonds.


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