Fortune Minerals Releases First Quarter 2012 Results

FORTUNE MINERALS LIMITED 148 Fullarton Street, Suite 1600, London, Ontario, Canada N6A 5P3 Tel. 519-858-8188 ~ Fax. 519-858-8155

May 15, 2012 Issued Capital: 117,076,976

NEWS RELEASE

FORTUNE MINERALS RELEASES FIRST QUARTER 2012 RESULTS

Fortune Minerals Limited (TSX-FT) (“Fortune” or the “Company”) is pleased to announce that its consolidated financial statements and management’s discussion and analysis of financial condition and results of operations for the period ended March 31, 2012 have been filed and will shortly be available on SEDAR (www.sedar.com) or through the Company’s web site (www.fortuneminerals.com).

About Fortune Minerals Limited:

Fortune 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 the Mount Klappan anthracite metallurgical coal deposits in British Columbia and the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories (“NT”). As part of the development of the NICO deposit, Fortune is developing a hydrometallurgical plant in Saskatchewan to process NICO concentrates to high value metal products. The Company has also acquired the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO. In addition, the Company owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT. Fortune is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.

For further information please contact:

Fortune Minerals Limited Renmark Financial Communications

Robin Goad, President, or Barbara Komorowski: [email protected], or Troy Nazarewicz Bettina Filippone: [email protected] Investor Relations Manager Montreal Tel: (514) 939-3989, Toronto Tel. (416) 644-2020 [email protected] Montreal Fax: (514) 939-3717, Toronto Fax. (416) 644-2021 Tel.: (519) 858-8188 www.renmarkfinancial.com Fax: (519) 858-8155 www.fortuneminerals.com

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