Fortune Minerals appoints Managers of Regulatory Affairs and Contracts Adminstration

    Rick Schryer and Nicole Hayduk Join Fortune Team

    Issued Capital: 49,546,407

    LONDON,ON, Nov. 29 /CNW Telbec/ - Fortune Minerals Limited (TSX-FT) is
pleased to announce the appointment of Dr. Richard (Rick) Schryer as the
Company's Manager of Regulatory Affairs and Ms. Nicole Hayduk as Contracts
Administration Manager. Fortune welcomes Rick and Nicole to its management
team as the Company advances its NICO cobalt-gold-bismuth deposit in the
Northwest Territories and Mount Klappan anthracite coal project in British
Columbia towards commercial production.
    Dr. Schryer has more than 20 years experience in the mine permitting and
environmental assessment ("EA") disciplines, principally for projects in the
Northwest Territories, Nunavut, Alberta, Saskatchewan, and Ontario. He will
lead Fortune's EA and permitting activities for both its NICO and Mount
Klappan projects and will work closely with the Company's Manager of
Environment and Community Affairs, Jim Mucklow.
    Rick completed his B.Sc. at the University of Ottawa, his M.Sc. at
Laurentian University and his Ph.D. at the University of Saskatchewan in fish
biology. Rick worked for Golder Associates Ltd. for over 14 years and was
instrumental in the development of their Yellowknife office and key to their
refocused interest in the north. Some of Rick's EA activities in the NWT
included being the discipline leader for the fisheries component of the
environmental baseline studies and EA completed for Diavik Diamonds Inc.,
Project Manager for DeBeer's Snap Lake Project EA and Senior Technical
Director for the operational monitoring programs at the Snap Lake Project.
Rick was also Project Manager and Aquatic Studies Director for Cogema
Resources Inc.'s EA for the Kiggavik Uranium Project in Nunavut, Project
Manager for Cameco Corporation's Environmental Effects Monitoring Programs for
several of their northern Saskatchewan uranium operations and Placer Dome's
Musselwhite Gold Mine EA. Placer's multidisciplinary study was the first
mining development to have gone through the new Canadian Environmental
Assessment Act.
    Nicole Hayduk has Bachelor degrees in Commerce and Law from Dalhousie
University. She was called to the Bar of the NWT in 2003 and the Alberta Bar
in 2004. Most recently, Nicole worked for BHP Billiton Ltd. at the Ekati
Diamond Mine in the NWT as their Contracts Supervisor where her
responsibilities included negotiating, drafting and implementing significant
contracts, managing contract administration, enforcement and dispute
resolutions. This experience has provided Nicole with invaluable knowledge and
background to manage the major agreements related to the operational
activities of Fortune, including Impact and Benefit Agreements ("IBA") with
First Nations. Nicole will be based at Fortune's offices in London, Ontario.
    "I am extremely pleased to have Rick and Nicole join Fortune. The Company
is advancing its NICO and Mount Klappan projects through environmental
assessments and permitting and will be undertaking IBA negotiations with
affected First Nations," said Fortune's President and CEO, Robin Goad.
"Attracting key management personnel with their skills and talents augments
the Company's existing management team in step with our transition to becoming
a producer."

    About Fortune Minerals

    Fortune Minerals is a diversified natural resource company with seven
mineral deposits and a number of exploration projects, all located in Canada.
They include the Mount Klappan anthracite coal deposits in British Columbia,
and the NICO cobalt-gold-bismuth deposit, the Sue-Dianne copper-silver deposit
and other base and precious metals exploration projects in the Northwest
Territories. Fortune Minerals is focussed 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, or may be based upon, estimates,
forecasts, and statements as to management's expectations with respect to,
among other things, the size and quality of the Company's mineral resources,
progress in development of mineral properties, demand and market outlook for
metals and future metal prices. 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,
uncertainties with respect to the receipt or timing of required permits and
regulatory approvals, the uncertainties involved in interpreting drilling
results and other geological data, fluctuating metal prices, the possibility
of project cost overruns or unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the future and
other factors. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Inferred mineral resources are considered too
speculative geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves. There is no certainty
that mineral resources will be converted into mineral reserves. The
forward-looking information contained herein is given as of the date hereof
and the Company assumes no responsibility to update or revise such information
to reflect new events or circumstances, except as required by law.

For further information:

For further information: Fortune Minerals Limited: Robin Goad,
President, (519) 858-8188, Fax: (519) 858-8155,; Greg
Taylor, Investor & Public Relations, (905) 337-7673 Cell: (416) 605-5120, Fax:
(905) 844-6532,;

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