Drill Update for Fortune River's Wind Mountain Project
Mon Jun 23, 1:29 PMVANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2008) - Fortune River Resource Corp. (TSX VENTURE: FRX.V)(FRANKFURT:RG7A) reported today additional preliminary and final gold and silver assays (see table below) for recent reverse-circulation drill holes at the Wind Mountain project, a former producing heap-leach low-sulfidation gold/silver property in the Walker Lane gold trend of western Nevada. These intervals continue to confirm that a large gold and silver system extends west of the two original open pits.
Holes WM08022 and WM08023 (see map) have been completed, with those samples now in the assay lab. Drilling continues with hole WM08024 (see cross section) testing the westward extension of mineralization encountered in hole WM08019, which contains a 122-metre interval averaging 0.677 g/t Au and 21.8 g/t Ag (preliminary gold assays were previously reported) beginning at a depth of 184m. The company said that mineralization appears to be essentially flat lying, making the intervals nearly true thicknesses. Mineralization is associated with strong silicification, hydrothermal breccia, and crudely banded quartz veinlets.
Wind Mtn Project - 2008 Drilling Program - Phase II
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Begin End
Total inter- inter- Inter-
Depth val val val Au Ag
Drill Hole (m) Orientation (m) (m) (m) (g/t) (g/t)
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WM08018 376 -80, 090 187.4 289.5 102.1 0.691 18.8
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including 201.2 208.8 7.6 1.5 25.7
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WM08019 335 -85, 090 184.4 306.3 121.9 0.677 21.8
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including 189.0 214.9 25.9 0.886 25.3
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WM08020 421 -90 153.9 187.4 33.5 0.535 14.2
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and 204.2 230.1 25.9 0.360 Pending
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WM08021 375 -90 207.3 371.8 164.6 0.448 Pending
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including 263.6 315.5 51.8 0.629 Pending
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WM08022 404 -70, 090 100.6 112.8 12.2 0.732 Pending
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and 187.4 192.0 4.6 0.375 Pending
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Assays
below
203m
Pending
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WM08023 314 -75, 090 Pending Pending
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WM08024 in -70, 270
progress
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Total drilled
2,225 (meters)
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Inspectorate Original, Duplicate collected at rig every 50' w/ assay by
ALS Chemex.
Assays in italics are preliminary values
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Mine-dump sampling program- During previous mining, Amax produced an estimated 9.4 million tonnes of "waste" at Wind Mountain. The average grade of this material is estimated to be 0.216 g/t Au; however, recent sampling by Fortune River indicates that a substantial portion of this material was upgraded to approximately 0.3 g/t Au when it was loaded onto dumps. Larger, less mineralized boulders rolled to the base of the dumps during stacking, which left the finer residual material high on the dump with an increased grade. Some Nevada mines load their sub-ore material in this way, and then re-mine the upper portions of those dumps. Fortune River has collected two bulk samples from the dumps, with each sample being approximately 20 tonnes. The samples are being tested for metallurgic characteristics at McClellan Metallurgical Laboratory. The work will include two large column leach tests (approximately 11 tonnes each) and is expected to take several months. The testwork will provide information necessary to evaluate the economics of re-mining upgraded portions of these "waste" dumps. To view accompanying map please click on the following link: http://media3.marketwire.com/docs/FRX_Map.jpg About Wind Mountain 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). 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). Additionally, the estimate 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. 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. We seek safe harbor. 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.ContactsJay Oness Fortune River Resource Corp.
(604) 641-2771
Email: corpdev@mnxltd.com
Website: www.fortuneriver.ca
