Fortune River Resource Corp.

Fortune River Resource Corp.

May 08, 2008 13:01 ET

Thick Gold Intercept at Fortune River's Wind Mountain; East Manhattan Drilling Program Completed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2008) - Fortune River Resource Corp. (TSX VENTURE:FRX)(FRANKFURT:RG7A) announced today that preliminary gold assays in hole WM08018 confirm the presence of a significant new gold deposit at the former producing heap leach Wind Mountain project and that an initial twelve hole drill program has been completed at the East Manhattan project. Assays from the first three holes or four holes at East Manhattan are expected early next week. Both projects are low-sulfidation gold/silver properties in the Walker Lane gold trend of western Nevada.

Wind Mountain project

Preliminary gold assays for hole WM08018, the first hole of the current drilling campaign, returned a 102.1 metre interval averaging 0.691 g/t Au beginning at a depth of 187m and included two higher grade intervals of 7.6m of 1.5 g/t Au and 4.6m of 1.1 g/t Au. Silver values are pending.

The hole is a down-dip offset from the same site as hole WM08016 (see cross section below), which intersected 56m averaging 0.71g/t Au and 20.7g/t Ag, before crossing out of mineralization at the Wind Mountain fault. The mineralization appears to be essentially flat lying, making the intervals nearly true thicknesses. Mineralization in both holes is associated with strong silicification, hydrothermal breccia, and crudely banded quartz veinlets.

Drilling continues, currently on hole WM08020. Holes WM08019 and WM08020 are located approximately 60m south and north, respectively, of hole WM08016 and have intersected similar alteration over significant thicknesses.

Additional holes are planned to test this new mineralized zone farther along strike of the Wind Mountain fault, which the company interprets as an important "feeder" structure. The Wind Mountain fault can be traced on surface for +3,400m.

The project is located approximately 160km northeast of Reno and has good road access and a power line to the property. AMAX Gold/Kinross Gold recovered nearly 300,000 ounces of gold and over 1,700,000 ounces of silver between 1989 and 1999 from the Wind Mountain and Breeze open pit heap leach operations (based on Kinross Gold files).

NOTE: To view the 2008 Initial Drill Interpretive Cross Section, please click the following link:

In late 2007 the company received an independent NI43-101 compliant resource estimate of the remaining mineralization, which includes a total Measured plus Indicated Resource for the project of 33.7 million tons averaging 0.012opt gold (0.411g/t Au) using a cutoff grade of 0.0075opt Au (0.257g/t Au), containing 406,000 ounces of gold (See News Release dated January 8/08). The estimate also includes an Inferred Resource of 9.8 million tons averaging 0.009opt Au (0.308g/t Au) using a cutoff grade of 0.0075opt Au, containing 92,000 ounces of gold. None of the mineralization encountered in 2008 holes is included in the resource estimates.

Ore Reserves Engineering ("O.R.E.") and Donald E. Ranta, consulting geologist, prepared the resource model and compiled the technical report, which is available on SEDAR. Alan C. Noble, P.E. is the Principal Engineer of O.R.E. and is the Qualified Person for the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

Wind Mountain is being acquired via an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines, Limited.

East Manhattan project

A first-phase drilling program was completed recently at East Manhattan, consisting of 2,091 metres in 12 holes. Preliminary gold assays for the first four holes are expected to be available early in the week of May 18. The first four holes were drilled along the same vein, with most later holes testing other vein zones.

About Fortune River Resource Corp.

Fortune River Resource Corp. is exploring for high-grade gold deposits within two prolific gold producing geologic provinces, Nevada and Ontario. The Wind Mountain, East Manhattan, Highland, Baxter, Mud Springs, and Buz projects are located in Nevada and the Drayton project is located in Ontario.

Joe Kizis Jr., (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release for Nevada properties.

On behalf of the Board,

Joseph Anthony Kizis, Jr. President,

Fortune River Resource Corp.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbor.

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