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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

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Post by mikervinon Feb 24, 2011 12:46pm
306 Views
Post# 18187803

Ro. G made Director of KDX

Ro. G made Director of KDX

Klondex Mines Ltd. (TSX: KDX)announced today the appointment of veteran geologist and miningindustry executive, Robin E. Goad, M.Sc., P.Geo., to its Board of

Board of .Mr. Goad is President and C.E.O. of Fortune Minerals Limited(TSX: FT), a diversified resource company with several mineraldeposits and exploration projects in Canada. Mr. Goad will serveon Klondex's Audit Committee. His appointment increases theKlondex Board to six members.

Mr. Goad is a professionalgeologist with nearly 30 years of experience in the mining andexploration industries on a global basis. Prior to foundingFortune Minerals, he worked for major mining and as a consultant to mid-tier and junior resource companies.Mr. Goad is a director of the Northwest Territories and NunavutChamber of Mines, serves as a director of Andor Mining Inc., andhas served as President and a director of other TSX listedresource companies.

William J. Solloway, Chairman and CEO ofKlondex, commented, "Klondex is very pleased to announce theappointment of Robin Goad to its Board of Directors. Hisoutstanding career in mining greatly strengthens KDX's Board andoperational management resources. His experience in bringinglarge, valuable projects to fruition is a timely complement to ourdevelopment efforts at Fire Creek, our high-grade gold property inNevada.

"Robin possesses a proud heritage in mining and finance from his grandfather's brokerage ,J. L. Goad, and his father's St. Lawrence Securities, firms thatunderwrote many of today's producing mines. He's applied thoseorigins and his geologic training at Fortune Minerals, which hasbuilt a strong portfolio of deposits which include metallurgicalcoal in northwest British Columbia, a gold-cobalt-bismuth-coppermine and concentrator in the Northwest Territories, and ahydrometallurgical refinery in Saskatchewan, all in thedevelopment stage for production."

As of December 31, 2010Klondex Mines had 36,544,089 shares issued and outstanding,41,319,089 shares on a fully diluted basis, and approximately CDN$8 million in cash.

About Klondex Mines (www.klondexmines.com):

KlondexMines Ltd. is

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