Fortune River Closes Private Placement

January 15, 2010
Fortune River Resource Corp. has closed its private placement previously announced on December 24, 2009 (NR-08-09).  The private placement was oversubscribed and the company issued a total of 6,475,876 million units for proceeds of C$518,070.  Each unit was priced at C$0.08 and consisted of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of C$0.10 per share for a period of two years.  

The proceeds from the private placement will be used to fund an independent Preliminary Assessment (also called a scoping study) for its wholly-owned Wind Mountain project as well as for working capital. Finders’ fees are payable.  The private placement and finders’ fees are subject to regulatory approval.  All securities issued pursuant to the private placement, including common shares, share purchase warrants and finders’ warrants issued as finders’ fees, carry a legend restricting trading of the securities until May 16, 2010.

About Fortune River
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.  The Company’s Wind Mountain project, a past-producing open-pit/heap-leach operation, contains an estimated 406,000 ounces of gold in the Measured plus Indicated Resource categories (33.7 million tons averaging 0.411g/t Au, using a cutoff grade of 0.257g/t Au), plus an additional 92,000 ounces of gold in the Inferred category (9.8 million tons averaging 0.308g/t Au, using the same cut-off).  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.

On behalf of the Board,

“Joseph Kizis”

Joseph Anthony Kizis, Jr.
President, Fortune River Resource Corp.

For further information, please visit the company’s website at fortuneriver.ca or contact Jeff Stuart at either 1-888-456-1112 or 604-684-9384 or by email at corpdev@mnxltd.com

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This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Fortune River Resource Corp. relies upon litigation protection for forward looking statements.