Fortune Valley drills Porphyry Copper

Fortune Valley Resources Inc. announces the results of its 2007 drilling campaign on the Incahuasi project located in Region 3 in northern Chile. The Company completed 36 reverse-circulation drillholes totaling 5,113 metres within the roughly 11,000 hectare property position. Results have been received from the first 24 drillholes, which were completed in the 420 hectare Incahuasi Central target area, and which focused on high-grade gold and copper veins. Table 1 summarizes drill results, using a 0.2% copper cutoff grade for drill intervals greater than 3 metres.

Michael Gingles, President and CEO said, although the initial drill targets at Incahuasi Central were geared toward finding the strike and dip extents of the various gold veins in the district, these drill intercepts with copper offer an opportunity to the company that needs to be followed up and understood. The potential for significant copper mineralization is intriguing and presents additional possibilities for the project which could include a significant copper find. We are now negotiating with local drilling companies to initiate a phase-2 drill program that will address the porphyry copper potential and perform additional drilling in the extensive Incahuasi Este vein system starting early in the second quarter of the year.

Drillhole RC-IC-005 cut 30 metres grading 0.808% copper and 0.408 g/t gold from porphyry-style alteration contained within a northwest oriented structural corridor. Additional outcrops of altered porphyries have been mapped within this northwest zone. This mineralized drill interval and geologic mapping suggest the zone is open to the northwest and southeast.

The majority of the reverse circulation drilling targeted the postulated down-dip extensions of the high-grade gold-copper vein sets in the Incahuasi Central area. The veins were tested below the artisanal and historic mine workings. While the gold mineralization appears to decrease immediately below the old mine workings, significant copper grades associated with the veins were encountered.

Drilling along the six vein sets in Incahuasi Central returned vein material within an altered andesite volcanic package. The drillholes intercepted quartz-vein material with significant (greater than 2% visual estimation) sulfides associated with quartz vein material. In the Paulina vein target, drilling returned a significant gold value of 10.4 g/t gold over one meter. The majority of the drillholes encountered quartz veins with anomalous gold over one to several metres; however, the vein intercepts were generally below a 3g/t gold cut off suggesting a bottom to the vein-style gold zones.