Fortune Minerals Releases First Quarter 2012 Results

Issued Capital: 117,076,976

LONDON, ON, May 15, 2012 /CNW Telbec/ - 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.

Fortune Minerals Limited 
Robin Goad, President, or
Troy Nazarewicz 
Investor Relations Manager
[e-mail]
Tel.: [phone]
Fax: [phone]
www.fortuneminerals.com

Renmark Financial Communications
Barbara Komorowski: [email protected], or
Bettina Filippone: [email protected]
Montreal Tel: [phone], Toronto Tel. [phone]
Montreal Fax: [phone], Toronto Fax. [phone]
www.renmarkfinancial.com