Fundy Minerals

April 22, 2009 02:00 ET

Update on Flatlands Limestone: New Zones Identified

FOR IMMEDIATE RELEASE                                                                            22 APRIL 2009

                                              FUNDY MINERALS LTD
                                              (PLUS MARKET: FUND)

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 exploration work in New Brunswick.
Fundy  Minerals  is  pleased  to  report on the surveys completed for their Flatlands  limestone  project.  The
Flatlands claim group comprises of 20 claims (area circa 800 acres) located approximately 15 kilometers west of
the  city of Campbellton, New Brunswick.  Flatlands has been actively explored by the Company these past  three
years and in particular in the past year the Company has been completing an Environmental Impact Assessment  as
part  of  its  process  to seek a quarry permit.  Flatlands hosts zones of high grade limestone.   The  Company
intends to undertake a drilling program to delineate compliant with National Policy 43-101 and standards of the
Canadian  Institute  of  Mining, Metallurgy and Petroleum. Prior to the intended  drilling  this  coming  field
season,  the  Company conducted an EM31 conductivity survey over a cut grid as a prospective tool for  spotting
drill targets.

The  chained and cut grid was carried out in the fall 2008 with the conductive survey carried out in  December.
Results  of the survey were completed this past week.  The grid comprised of 13 cut grid lines of 100m  spacing
and  readings  at  every  5  meters along each line. The grid covered 8 claims (circa  320  acres)  totaling  8
kilometers  of  cut lines.  The objective of the Geonics EM31 survey was to measure the variations  in  terrain
conductivity of overburden and bedrock to a depth of 6 meters, making it acceptable for Flatlands  where  known
overburden  from past drilling ranged from 0.5 meters to 8 meters depth. On the Flatlands limestone  group  the
results  showed  variations  in  bedrock conductivity which, can be used to  compare  areas  of  non-conductive
limestone  from  those that are relative conductive clastics/mudtsones that are also known  to  be  within  the
claims.     Both in phase and out phase surveys were conducted with no variances between the respective results
in the surveys.

The  conductive  survey  results were plotted and mapped showing 6 conductive highs  that  are  interpreted  as
shallow dipping clastics /mudstones and or mafic dykes which are known to have narrow occurrences at Flatlands.
The  focus  of  the  results  was to locate the non to low conductive zones that may represent  limestone,  and
potential  drill targets.  The results showed 7 new targets interpreted as probable limestone.  To  secondarily
confirm interpretations the Company had sections of split drill core from past hole F02-7 from 15 meters to  31
meters  tested for measurements of electrical resistivity by GeoScott Exploration Consultants Inc. These  tests
were  carried  out to create a bench mark from a limestone section that were of high grade limestone  measuring
51.25%  CaO,  and  to  be  correlated to the field conductive survey.  Vickers Geophysics  compared  conductive
profiles   from  the  survey  results  with     resistivity  plotted  maps,  thus  reaffirming  the  conductive
interpretations of probable new limestone zones not yet drilled by the Company.

After the conductive survey, magnetic, and aeromagnetic data was overlaid on Flatland maps and interpreted.   A
summary  of  the  results yielded two vertical derivative aeromagnetic highs   which correspond  to  conductive
highs.  It is interpreted that these highs represent mafic dykes, which will assist the Company in interpreting
structural details when considering   drill targets.

Company  Chief Geologist cited "I am pleased with the results of the surveys as it has given us a  database  of
information that we can determine where to spot the best limestone drill targets.  The survey was  a  useful
tool that having identified seven new target areas of possible limestone zones.  Drilling will be  required
however, to prove  this  conclusively.  The success of Flatlands is a priority to Fundy.  We  are  diligently
working to define the tonnages and grades".

Chairman and CEO Jeff Michel added, "The Flatlands project has been of great importance to Fundy. We have  been
patiently  working  through  the  required steps to first ascertain from a regulatory  perspective  a  feasible
project,  then seek the appropriate permit.  We have always felt there was greater opportunity at this location
and are hopeful that these 7 new zones prove as predicted."

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.
For further information please contact:

Fundy Minerals Ltd                                       Tel. +1 416 238 0361 or +44 (0)207 669 4479
Jeff Michel, Chairman  & CEO                    

Daniel Stewart & Company Plc                              Tel. 020 7776 6550
Stewart Dick

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