Fortune Minerals Releases Third Quarter 2010 Results

FORTUNE MINERALS LIMITED 140 Fullarton Street, Suite 1902, London, Ontario, Canada N6A 5P2 Tel. 519-858-8188 ~ Fax. 519-858-8155

November 15, 2010 Issued Capital: 105,816,686

NEWS RELEASE

FORTUNE MINERALS RELEASES THIRD QUARTER 2010 RESULTS

Fortune Minerals Limited (TSX-FT) (“Fortune Minerals” 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 September 30, 2010 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:

Fortune Minerals 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 its NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories and its metals processing plant in Saskatchewan. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. The Company also owns the Mount Klappan anthracite coal deposits in British Columbia, the Sue-Dianne copper-silver deposit and other exploration projects in the Northwest Territories. Fortune Minerals 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 Lindsay Simmons, IR Coordinator Christine Stewart: [email protected] [email protected] Montreal Tel: (514) 939-3989, Toronto Tel. (416) 644-2020 Tel.: (519) 858-8188 Montreal Fax: (514) 939-3717, Toronto Fax. (416) 644-2021 Fax: (519) 858-8155 www.renmarkfinancial.com www.fortuneminerals.com