FORTUNE MINERALS ANNOUNCES EXPANDED MANAGEMENT TEAM

Issued Capital: 107,519,427

Additional Support for Project Development, Communications and Administration

LONDON, ON, May 12 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or "the Company") is pleased to announce the addition of three new members to its project development and administration teams in London, Ontario.  William Shepard has joined the company as Logistics and Procurement Manager, Troy Nazarewicz as Investor Relations Manager, and Fiona Brekelmans as Accounting Manager.  "We are very pleased to be adding exceptional people to strengthen our management and add depth to the Company", said Robin Goad, President and CEO of Fortune Minerals.  "We will continue to add talent as the Company grows and advances toward our goal of becoming a successful gold, specialty metals, and metallurgical coal producer".

William Shepard, who had been working as a contractor with Fortune Minerals assisting with the dismantling of our Golden Giant mine buildings and equipment at Hemlo, Ontario, has now joined the Company full-time as our Manager of Logistics and Procurement.  Bill has a Diploma in Industrial Management and specializes in global supply chain management developed over 20 years of previous experience in the automotive and aerospace industries with TRW Automotive Holdings Inc., Magna International Inc., Keiper Limited and Diamond Aircraft Industries Inc.  His expertise in purchasing, logistics, materials management, and supplier development has already had an impact on the successful completion of the Hemlo project with his new role supporting planning for the development of the proposed NICO gold-cobalt-bismuth-copper mine and concentrator in the Northwest Territories and hydrometallurgical refinery in Saskatchewan.

Troy Nazarewicz, CIM, FCSI, has also joined Fortune Minerals as Manager of the Company's investor relations and corporate communications programs.  Troy has more than 17 years of experience in the financial services industry as an investment advisor and portfolio manager with MacDougall, MacDougall & MacTier Inc., a full service Canadian investment firm.  He also worked as Business Development Manager with a design and marketing firm.  In these previous positions, Troy gained valuable experience communicating with both retail and institutional investors that will assist Fortune Minerals in proactively engaging with the investment community and improving market awareness of our Company and its projects.

Fiona Brekelmans, B.Acc. (Hon), C.A. joined Fortune Minerals in late 2010 as Accounting Manager to assist the CFO and Controller and add capacity with the Company's external and internal financial reporting and regulatory compliance.  She is also helping with the transition of its financial reporting to International Financial Reporting Standards ("IFRS") for public issuers.  Prior to joining Fortune Minerals, Fiona worked in public accounting with Ernst & Young LLP where she gained valuable experience with a variety of public and private companies in the mining, construction and manufacturing sectors in accounting, audit, and business processes.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada.  The Company is focused on the development of its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan.  Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO.  Fortune Minerals also owns the Mount Klappan anthracite metallurgical coal deposits in British Columbia and has engaged Deloitte & Touche Corporate Finance Canada to assist in attracting a strategic partner to develop this project.  In addition, the Company owns the Sue-Dianne copper-silver deposit and other exploration projects in the Northwest Territories.  Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.

This press release contains forward-looking information. This forward-looking information includes statements with respect to, among other things, the proposed development of   the NICO project and the proposed purchase and development of the site for the SMPP. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  These factors include the inherent risks involved in the exploration and development of mineral properties, the inherent volatility of metal prices, the risk that the Company may not be able to arrange the necessary financing to construct and operate the NICO mine and the SMPP, uncertainties with respect to the receipt or timing of required permits for the development of the NICO project and the SMPP, the possibility of delays in the commencement of production from the NICO project and construction of the SMPP and other factors. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company.  The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

 

SOURCE Fortune Minerals Limited

For further information:

Fortune Minerals Limited Renmark Financial Communications
Robin Goad, President, or
Troy Nazarewicz,  I.R. Manager
info@fortuneminerals.com
Tel.: (519) 858-8188
Fax: (519) 858-8155
www.fortuneminerals.com
Barbara Komorowski: bkomorowski@renmarkfinancial.com, or
Christine Stewart: cstewart@renmarkfinancial.com
Montreal Tel: (514) 939-3989, Toronto Tel. (416) 644-2020
Montreal Fax: (514) 939-3717, Toronto Fax. (416) 644-2021
www.renmarkfinancial.com

 


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