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  JAN 13, 2010 - 08:30 ET
Fortress Reports Drilling Underway at the Malmyzh Project and Phase 1 Drilling Completed at Limonite Project, Far East Russia

 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2010) - Fortress Minerals Corp. ("Fortress") (TSX VENTURE:FST) is pleased to announce that phase 1 drilling has concluded at the Limonite Project with a total of 797.3 metres drilled. Following completion of phase 1 drilling at Limonite, all equipment, supplies and personnel were mobilized to the Malmyzh Project approximately 200 kilometres to the southwest, where drilling commenced on December 25th. Approximately 5,200 metres are planned for this initial phase of drilling at Malmyzh. Assay results from both projects will be released when available. Fortress acquired a 51% interest in both projects from Freeport-McMoRan Exploration Corporation ("FMEC") by making a cash payment of $10,000 and taking operational control of Amur and completing, at the company's sole expense, an aggregate of 12,000 metres drilling.

The Malmyzh Copper-Gold Project is located 215 kilometres northeast of the City of Khabarovsk near well developed infrastructure, including high voltage power lines, the Amur River (a major shipping route in the Russian Far East) and all season roads that connect the project to Khabarovsk City and the seaport City of Nikolaevsk at the northern end of the Sea of Japan (see Figure 1). The Malmyzh prospect is held under a 20-year Exploration and Mining License. Extensive soil sampling, rock sampling and geophysical surveys throughout the license area have identified ten combined geophysical and geochemical targets within a 40-square kilometre area. Fortress believes that previous limited drilling by FMEC (1,066 metres in six widely spaced drill holes into four of the identified targets) is very encouraging. The widely-spaced holes all contain copper and copper-gold mineralization and Fortress believes the targets are large enough such that each of them could contain a significant porphyry copper-gold deposit (see Figure 2). Results of FMEC's reconnaissance drilling include drill hole PDMC-002, which intercepted 215 metres grading 0.34% copper, hole PDMC-004, which intercepted 195.6 metres grading 0.39% copper and 0.29 grams per tonne gold and hole PDMC-005, which intercepted 181.7 metres grading 0.30% copper (see Press Release dated September 29th, 2009). Mineralization at Malmyzh is of the copper-gold porphyry style similar to Oyu Tolgoi in Mongolia and Cadia-Ridgeway in New South Wales, Australia.

Mr. Lukas Lundin, President and CEO of Fortress Minerals stated, "Fortress's Amur Minerals Program is setting the standard for rapid and cost effective exploration in the Russian Far East. We feel very positive regarding the potential of the Malmyzh and Limonite Projects."

The technical information contained in this news release was reviewed by Thomas E. Bowens, Chief of Operations, P. Geo., and a Qualified Person as defined by National Instrument 43-101. Fortress was satisfied in its review of the technical data and core during its due diligence site visit to Malmyzh and concluded that FMEC carried out an adequate QA/QC program with assays completed by a Moscow branch of an internationally recognized and certified laboratory. Fortress found no discrepancies in its review of the technical data and core or during the site visit at Malmyzh.

ON BEHALF OF THE BOARD

Lukas H. Lundin
President and CEO

This news release contains forward-looking statements concerning the Company's plans for its properties. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's periodic filings with the British Columbia Securities Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

To view the maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/0113fst.pdf

Neither the 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.


FOR FURTHER INFORMATION PLEASE CONTACT:

Fortress Minerals Corp.
Sophia Shane
Corporate Development
604 689 7842
www.fortressminerals.com

 
 

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