Fortress Corporate Update

FORTRESS MINERALS CORP.

Suite #2000, 885 W. Georgia Street Vancouver, B.C. V6C 3E8 Ph. (604) 689-7842 www.fortressminerals.com

NEWS RELEASE

FORTRESS CORPORATE UPDATE

March 16, 2012 (FST – TSXV) … Fortress Minerals Corp. (“Fortress” or the “Company”) announces the appointment of Mr. Glenn Kondo as Chief Financial Officer of the Company effective immediately. Mr.

Kondo replaces Mr. Peter Chow who has resigned to pursue other endeavours within the Lundin Group.

Mr. Kondo also currently serves as CFO of Lucara Diamond Corp., a company developing a major new diamond mine in Botswana. Mr. Kondo is a highly qualified finance professional with extensive senior executive and corporate board experience in the mining industry, including many years with Anglo American. He has been directly responsible for delivering significant commercial growth internationally by leading mergers and acquisitions, raising capital finance and achieving business transformation through operational performance and project management. Mr. Kondo is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Toronto.

The Company would like to thank Peter Chow for his outstanding contribution to the Company and wish him well in his future endeavours.

On behalf of the Board of Directors,

Lukas Lundin President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact Sophia Shane, Corporate Development at 604-689-7842.