Fundy Minerals Ltd.

Fundy Minerals Ltd.

November 12, 2008 04:23 ET

New Brunswick Exploration Update

                                                                                                    12/11/2008
                                                                                     CA3608971022/GBP/PLUS-exn
                                              FUNDY MINERALS LTD
                                              (PLUS MARKET: FUND)
                                                       
                                       New Brunswick Exploration Update

The Board of Fundy Minerals Ltd ("Fundy" or "the Company"), the Canadian and West African exploration company,
is pleased to update shareholders on some of its fall exploration work in New Brunswick.

Fundy has now completed circa 30 kilometers of grid cutting, in preparation of mag and vlf geophysical surveys
over its County Line, Marigold, and Taylor Brook claims, and conductivity EM surveys at Flatlands. These
surveys commenced the week of 10 November, 2008 with results to be interpreted in the coming weeks.

Various sampling was taken along these grid lines with assays performed by ALS Chemex laboratories. Of
significance was the anomalous presence of molybdenum along the Carter gold zone at Sand Brook. Samples ranged
with anomalous readings of 2560 ppm (sample S3) to a high of 4530 ppm (sample S4) in rock samples along the
intensive shearing zone. The sample pulps are being retested under fire assay for gold values as associated
arsenic readings varied from 1080 ppm (sample S2) to >10,000 ppm (Sample S1).  The company has previously found
a strong correlation of anomalous gold values with arsenopyrite mineralization in the shear zones.

Chairman Jeff Michel commented, "The molybdenum values are of interest as values are similar to the results at
found in the area of the Mt Pleasant mine. The Sandbrook area has been of interest for its gold mineralization
however, we will continue to assess its merits with Molybdenum.  We look forward to results over the next few
weeks with the geophysical surveys being conducted".

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

The Directors of the Issuer accept responsibility for this announcement.

                                             --ENDS--

ENQUIRIES:

ST HELEN'S CAPITAL PLC                                              TEL: 020 7628 5582
Duncan Vasey
Barry Hocken

FUNDY MINERALS LTD                                               TEL: 001 561 575 1720
Jeff Michel, Chairman / CEO
EMAIL: INFO@FUNDYMINERALS.COM


Notes to Editors:

Fundy

Fundy was incorporated on 17 March 2004 by founders who have more than 50 years combinedgeological experience,
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 properties.

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 mineralised
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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