Fortune Minerals releases first quarter 2010 results and reminder of Annual
Meeting of Shareholders

Issued Capital: 94,779,407

TORONTO, May 14 /CNW/ - 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 March 31, 2010 have been filed and will shortly be available on SEDAR (www.sedar.com) or through the Company's web site (www.fortuneminerals.com).

The Company's Annual Meeting of Shareholders will be held at the Fairmont Royal York Hotel, British Columbia Room (Mezzanine Level), 100 Front Street West, Toronto, Ontario, M5J 1E3 on the 18th day of May, 2010 at 4:30 pm. For those persons unable to attend, a second informal meeting for informational purposes will be held at The London Club, 177 Queens Avenue, London, Ontario, N6A 1J1 on the 19th of May, 2010 at 4:30 pm.

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. Fortune Minerals also owns the Mount Klappan anthracite coal deposits in British Columbia, and the, 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: Fortune Minerals Limited, Robin Goad, President - or - Lindsay Simmons, IR Coordinator, [email protected], Tel.: [phone], Fax: [phone], www.fortuneminerals.com; Renmark Financial Communications, Dan Symons: [email protected] - or - Barbara Komorowski: [email protected], Media Contact: Guy Hurd: [email protected], Tel: [phone], Fax: [phone], www.renmarkfinancial.com