Emerging Strategic Metal & Coal

ProducerFortune Minerals Limited

Investor Presentation

January 2012

TSX-FT

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FORWARD-LOOKING INFORMATIONThis document contains certain forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the size and quality of the Company’s mineral resources, progress in development of mineral properties, timing and cost for placing the Company’s mineral projects into production, costs of production, amount and quality of metal products recoverable from the Company’s mineral resources, demand and market outlook for metals and coal and future metal and coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal and coal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, uncertainties related to metal recoveries and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update them or revise it to reflect new events or circumstances, except as required by law.

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CorporateInformation

Share Performance

Listing: TSX-FT Share Price: $ 0.80 Issued Shares: 117.1 million Fully Diluted: 123.4 million Market Cap: $ 94.0 million Working Capital: $ 26.0 million (Q3- 2011) ($ 3.9 million warrants exercised Dec.)

Total Assets: $ 151.2 million (Q3-2011)

China Mining Resources Group Ltd. ~13% Manulife Global Management US ~ 10% Officer & Director Holdings ~21% (includes China Mining)

As of January 11, 2012All values in C$ unless otherwise noted

Analyst Reports

Ownership

David Davidson, Paradigm Capital Michael Fowler, Loewen Ondaatje McCutcheon

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Canada Focus - Operating in mining friendly jurisdictions

PROPERTY INTERESTS PROPERTY INTERESTS

Canada Focus - Operating in mining friendly jurisdictions

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EMERGING PRODUCER OF GOLD, MET. COAL & SPECIALTY METALS

KEY ASSETS Mount Klappan Anthracite Coal Project, British Columbia

One of world’s premier metallurgical coal development projects JV partnership with South Korean steel producer POSCO Collaboration with CN Rail to extend railway infrastructure Accelerated development strategy with funding to construction in place

NICO Gold-Cobalt-Bismuth-Copper Project, NWT & Saskatchewan 4 million equivalent gold ozs (1) - Significant gold & cobalt - Largest deposit of bismuth in world Mine & Concentrator planned in NWT Vertically integrated metals processing plant planned near Saskatoon, Saskatchewan Golden Giant Mine buildings & equipment purchased & dismantled to reduce costs Potential future mill feed from Sue-Dianne Copper-Silver-Gold satellite deposit

Two development projects, Both: Positive definitive feasibility studies >$ 1.3 billion combined base case NPV Successfully test mined & pilot plant processed In permitting Deloitte & Touche engaged to secure strategic partners New reserves & economics pending

EXPERIENCED BOARD & MANAGEMENT TEAM Proven records in permitting construction & mine operations (1) Using Metal Price Assumptions: US$ 900/oz Au, US$ 20/lb Co, US$ 10/lb Bi, US$ 2.75/ lb Cu

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One of world’s largest undeveloped metallurgical coal deposits

Advanced project with $ 87 million of work completed

Definitive Feasibility Study with robust economics

Railway development strategy to port of Prince Rupert - Allows for scalable expansion

World-class JV partner secured with POSCO - One of the world’s largest steel producers

Supply shortages of metallurgical coals with growing world consumption

Railway sub-grade links mine site with CN mainline & Ridley Terminals

MOUNT KLAPPAN ANTHRACITE COAL PROJECT

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POSCO Canada (POSCAN) has acquired 20% interest in Mount Klappan. Highlights:

Anticipated total payments & cash contributions of $ 181 million based on current capital cost estimates

$ 30 million paid to Fortune, $20 million contributed directly to the JV

20% of total development & capital costs - $154 million under current estimates

$ 17.2 million in additional payments at production

20% of operating costs for 20% of production in-kind for their own use

Fortune is Project Manager & will be compensated for providing operational, technical & administrative support over life of mine

Secures world-class investor & strategic partner

Validates Mount Klappan as one of world’s premier metallurgical coal development projects - Key future supplier to global steel industry

Accelerates project development - Upfront payment anticipated to provide 100% of funding to complete detailed engineering, permitting & stakeholder consultations for construction

Maintains significant upside for Fortune shareholders

$601 million post-transaction levered after-tax NPV (8%) for Fortune’s 80% interest at $175 per tonne for PCI based on current reserves

JOINT VENTURE WITH POSCO

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World’s 3rd largest steel producer by crude steel production

Crude steel production of 35.4 million tonnes in 2010 - Sales for 12 months ended September 30, 2011, totalled US$ 67.0 billion

Gwangyang Works - Largest steel mill in world, 22 million tonnes capacity

Global expansion plans towards goal of 50 million tonnes total crude steel production

Leading innovator in steel production – Finex

Headquartered in Seoul, South Korea

Listed on Korea (KRX), New York, London & Tokyo Stock Exchanges

ABOUT POSCO

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Large license area in northwest B.C. (15,866 Ha)

Close proximity to deep water shipping ports

Stewart Port (150km)

Ridley Terminals in Prince Rupert (330km)

Mine site straddles railway right-of-way

Track (CN) installed to 150km south of mine

Railway road bed largely complete to mine

Road access from railway subgrade

Support of CN Rail for railway expansion

B.C. Government extending electrical grid to area

Project in Tahltan and Gitxsan Territories

B.C. Government sharing revenues with First Nations

STRATEGIC LOCATION & INFRASTRUCTURE

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Mount Klappan Resources (million tonnes)(1)

Historical resources included 2.2 billion tonnes in the speculative class, however, speculative resources are no longer considered NI 43-101 compliant and such resources should not be considered current. (2)

Lost Fox Metallurgical Coal Reserves (million tonnes)(1)

(1) Richard Marston, PE is the Qualified Person as defined by NI 43-101(2) 2.8 billion tonne resource in all classes – estimates by Marston & Marston Inc. as of February 2007

MOUNT KLAPPAN RESOURCES & RESERVES Significant potential to upgrade & increase resources & new reserves (expected Q2 2012)

Lost Fox deposit remains open for possible expansion

Additional coal seams identified below 300 meters & on adjacent lands

Area Measured Indicated Demonstrated InferredLost Fox 107.9 109.5 217.4 91.5Hobbit-Broatch - 13.5 13.5 258.4Summit - - - 9.6Nass - - - -Total 107.9 123.0 230.9 359.5

Run – Of –Mine Coal Reserves 10% Ash Product ReservesMeasured Indicated Total In Situ Proven Probable Total Product

89.5 16.8 106.3 51.6 9.2 60.8

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ANTHRACITE PRODUCTS

Highest quality coal with very high carbon & energy content Anthracite only 1% of world coal reserves Metallurgical coal with diverse applications

Other products: Blend coal with coking coal for making metallurgical coke Direct coke replacement Urea fertilizers Heating & cooking briquettes Pelletizing

Source: Company Information.

Filter Media US$ 1000 / tonne

Metallurgical Reductants / charge carbon US$ 350 / tonne

Ultra-Low Vol. PCI US$ 200 / tonne

Sinter US$ 175 / tonne

Power Generation US$ 150 / tonne

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GROWING PCI DEMAND FROM STEEL PRODUCERS

Use of PCI reduces the amount of coke required in steel production

Steelmakers around the world are expanding PCI use to reduce costs

Low-vol PCI typically priced at 70% to 80% of high quality hard coking coal

Mount Klappan PCI will achieve a higher price given its ultra-low volatile content

Source: Macarthur Coal

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Source: China Coal Resource Website, Deloitte

Coal & Anthracite Net Imports by China In million mt

EMERGENCE OF CHINA AS NET COAL IMPORTER

(72.7)(83.6)

(68.3)

(46.1)

(25.4)

(2.1) (4.9)

103.4

145.8

(3.9) (4.0)

1.4 7.1

17.5 23.2

13.3

31.1 22.2

(100.0)

(50.0)

-

50.0

100.0

150.0

200.02002 2003 2004 2005 2006 2007 2008 2009 2010

Coal Total

Anthracite

World 2009 anthracite production: ~ 565 million tonnes China: 483 million tonnes – Net importer of anthracite Vietnam: 43 million tonnes – Reduced exports to utilize production domestically Few new high-quality deposits in mining friendly jurisdictions

China became a net coal importer of anthracite in 2004, coking coal in 2007, all coals in 2009

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Global Met Coal DemandMillion mt

Source: Peabody Global Energy Analytics

SIGNIFICANT FUTURE MET COAL DEMAND GROWTH

>500 million mt demand increase over the next decade with limited new production potential

Increasing demand for good quality metallurgical coals

China’s growth ~10% per yr

Japan & South Korea are increasing anthracite imports – New steel technologies - Lower emissions

Emerging economies are driving forces for future metallurgical coal demand

India’s growth ~8% per yr & - Crude steel production expected to increase from 72.8 million tonnes to 124 million tonnes by 2012 & 293 million tonnes by 2020

Brazilian crude steel production expected to increase from 26.5 million tonnes to 103 million tonnes by 2030

Insufficient supply of metallurgical coals to meet forecast global demand

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Railway transportation of coal provides lower operational risk over trucking – Allows for scalable expansion of production to take advantage of large resource base

CN Rail operates between Prince George & port of Prince Rupert & on Dease Lake Line to Minaret, 150 km south of Mount Klappan

Railway road bed largely constructed to mine site – Brownfield extension from Minaret

Survey & engineering of railway extension at feasibility level - $ 317.8 million capital cost included in 2010 DFS

CN collaborating on railway upgrade & extension to Mount Klappan

RAILWAY UPGRADE & EXPANSION

Existing railway right-of-way & road bed

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Ice-free, deepwater port 36 hours closer to Asia than port of Vancouver

Ridley coal terminal a world-class coal & bulk materials handling facility

Capable of handling full Capesize vessels ~US$ 10 per tonne reduction in ocean freight

Currently handling ~70% of 16 Mtpa design capacity

Expansion to 24 Mtpa in progress – Potential to expand to 50 Mtpa

Opportunities for shared cargos & blending of coals with other metallurgical coal producers

PORT OF PRINCE RUPERT

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November 2010 update to 2005 & 2008 DFS

Based on railway transport of coal to Ridley Coal Terminal in Prince Rupert

Initial 3 Mtpa production from Lost Fox deposit open pit mine, wash plant & site infrastructure

60.8 Mt of product coal reserves – 20+ yrs production (only 3.6% of global resource)

Premium ultra-low volatile PCI product

Can diversify product mix to produce premium products (charge carbon) & sinter

Life of mine average free on board vessel cash cost of US$104.79/tonne (C$110.30/tonne)

2010 DEFINITIVE FEASIBILITY STUDY

BASE CASEUltra-Low Volatile PCI

US$175 / tonne (C$1 = US$ 0.95)

PRE-TAX AFTER TAX

IRR 25.4% 20.7%

NPV (8%) C$ 1,027.8 Million C$ 667.4 Million

Capital (Years 1-4) C$ 768.4 Million(includes railway capital)

Pre-Tax NPV (8%)In billions

$0.5

$1.0

$1.6

$2.2

$2.7

$3.3

$3.8

$-

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5

$150 / t $175 / t $200 / t $225 / t $250 / t $275 / t $300 / t

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Rail transportation allows for higher annual production than 3 Mtpa

DFS reserves only represents 3.6% of total resource

Updated reserves in preparation for Lost Fox deposit that can support higher production rates.

Production can be expanded from adjacent Hobbit – Broatch deposit

Current resource only identified to 300 meters – Additional coal seams identified at depth

Budget in place for additional drilling

3rd Party contribution to railway capital costs increases NPV

BC Government extending electrical grid & connection lowers power costs & enables use of lower cost mining equipment

Lease-to-purchase of mobile equipment fleet lowers upfront capital costs & increases IRR

SIGNIFICANT UPSIDE POTENTIAL

One of world’s largest undeveloped deposits, railway extension to mine site allows

for large, scalable project that can be expanded to 6 Mtpa +

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JV partner now secured & accelerated development program underway

Next steps include:

Update reserve estimate

Complete Front End Engineering & Design Studies on the Lost Fox Mine

Complete engineering on railway transportation with CN Rail

Continue community & stakeholder engagement

Complete environmental permitting process

Conduct additional expansion drilling

Deloitte engaged to secure 2nd stage strategic partner

Minority equity investor at the project level

Provision of debt & equity tied to off-take

Expertise in coal end market with strong financial position

Objective of announcing fully financed, permitted project at conclusion of currently planned programs

ACCELERATED DEVELOPMENT STRATEGY

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NICO GOLD-COBALT-BISMUTH-COPPER PROJECT 100% Ownership – No 3rd party royalties

Open pit & underground mine & mill in Northwest Territories (NT)

Saskatchewan Metals Processing Plant (SMPP) Vertically integrated hydrometallurgical facility to produce gold

doré, cobalt & copper cathodes & bismuth cathode or ingot

$ 100 million work completed to date, includes:

$ 20 million test mining

$ 12 million metallurgy & process pilot plants

2007 positive feasibility study & 2008 update

32.3% Pre-tax IRR

Pre-tax $ 361 million 8% NPV

Significant recent improvements not included

31 Million tonne reserve – 4 Million eq gold ozs*

Golden Giant (Hemlo) buildings & equipment purchased & dismantled to reduce capital costs

Environmental Assessments advanced for mine & SMPP permitting

* Using Metal Price Assumptions: US$ 900/oz Au, US$ 20/lb Co, US$ 10/lb Bi, US$ 2.75/ lb CuTest mining 2006/2007

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MINE LOCATION & INFRASTRUCTURE 5,140 Ha lease in southern NT

Winter access roads

All-weather road planned by governments to Hwy (135 km)

$18 million in place for stage 1 – realignment, bridges & roadbed

Engineering & environmental work underway

450 km from railway at Hay River for transport of concentrates to SMPP

160 km from City of Yellowknife

50 km from Town of Whati

22 km from Snare Hydro

Tlicho First Nation – Settled land claim

Co-operative Relationship Agreement with Tlicho Government

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High concentration ratio of ore using simple flotation 4,650 tonnes of ore per day reduced to only 180

tonnes of concentrate (3.8% sulphide fraction) Allows concentrate to be shipped to

Saskatchewan for lower cost processing

Hydrometallurgical plant to produce gold doré, cobalt & copper cathodes & bismuth ingot

Agreement to purchase lands near Saskatoon Located on CN Rail line - Close to Hwy Inexpensive power (5.7 cents/kWh) Close to natural gas & reagent sources Skilled worker / engineer pool – 85 employees

SMPP capital cost ~ $200 million

SASKATCHEWAN METAL PROCESSING PLANT (SMPP)

NICO

Saskatoon

CN Rail Canadian Route Map

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DIVERSIFIED EXPOSURE TO GOLD & SPECIALTY METALS

Gold the most valuable component by value

Front end gold recovery - largest source of revenue in first year of operation

Bismuth is second largest by value – Largest bismuth deposit world-wide

High purity cobalt (99.8%) commands premium price.

Gold – 907,000 oz @ $1651/ozCobalt – 82 Mlbs @ $16.00/lb

Bismuth – 109 Mlbs @ $13.25/lbCopper – 27 Mlbs @ $3.35/lb

Prices as at Oct 24, 2011

Value by Metal at Spot Prices

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GOLD – COUNTER CYCLICAL HEDGE

Gold price increased consistently in past 9 years, especially after recent economic downturn

While mine supply remains relatively flat, future demand continues to grow:

Growing physical demand from Asia & Central banks

Growing investment demand based on currency protection & safe haven status

Provides a flexible financing opportunity

Historical & Forecast Gold Price

Source: Bloomberg; Energy & Metals Consensus Forecasts, Oct 2012

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COBALT – ROBUST MARKET WITH INCREASING DEMAND

World cobalt production (in tonnes) Wide application of industrial usage

• Vast majority of cobalt sourced from regions that are politically unstable or prone to export restrictions

• Congo currently accounts for 51% of global supply

• China has the largest refining capacity (43% in 2010) but limited mine supply

• LME initiated futures market trading for cobalt in 2010, resulting in a more liquid market

• Wide metallurgical & chemical market applications in: batteries, high strength alloys, cutting tools, catalysts, etc.

• Largest growth is in lithium ion & nickel metal hydride batteries for electronic devices & hybrid/electric vehicles

• High purity cobalt (99.8%) used in aerospace applications

• 76,500 t market with demand growing by approximately 10% per year

Source: USGS Industry Survey Source: Cobalt Development Institute

27%

19%

13%

10%

9%

7%

6%

5%4% Batteries (27%)

Superalloy (19%)

Hard Materials (13%)

Colours (10%)

Catalysts (9%)

Magnets (7%)

Hardfacing & Other Alloys (6%)

Tyre Adhesives, Soaps, Driers (5%)

Feedstuffs (4%)

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BISMUTH – ENVIRONMENTAL FRIENDLY WITH GROWTH POTENTIAL

Bismuth prices continue to increaseWorld reserves (in tonnes)Growing number of applications

Bismuth Prices 3 Years

• Bismuth prices have risen over the last 2 years, supported by steady demand & constrained supply

• China is the principal source of bismuth & has total reserves of 240Kt, accounting for 80% of world reserves

• China has closed 20% of its production due to environmental concerns

• NICO contains over 48Kt of bismuth, equivalent to 15% of world reserves & the world’s largest deposit

• Traditionally used in fusible alloys, cosmetics, chemicals etc.

• New markets focus on super conductors, CDs & auto anti-corrosion materials

• Environmentally safe replacement for lead in plumbing & electronic solders, brass, ceramic glazes, free cutting steel, hot dip galvanizing & paint pigments

• Global framework to eliminate lead could increase bismuth consumption by 25%

Source: MetalPrice.comSource: USGS Industry Survey 2010Source: USGS Industry Survey

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NICO MINERAL RESERVES (TO BE UPDATED SHORTLY)

Underground Mineral Reserves Tonnes Au (g/t) Co (%) Bi (%) Cu (%)Proven 1,403,000 2.23 0.16 0.22 0.04

Probable 767,000 2.92 0.17 0.19 0.03

Total 2,170,000 2.47 0.16 0.21 0.03

Reserve estimate by P&E Mining Consultants Inc., Eugene Puritch, P.Eng. & Fred Brown, CPG PrSciNat, Qualified Persons as defined by NI-43-101

Open Pit Mineral Reserves Tonnes Au (g/t) Co (%) Bi (%) Cu (%)Proven 15,019,000 0.85 0.12 0.16 0.04

Probable 13,797,000 0.71 0.12 0.15 0.03

Total 28,816,000 0.79 0.12 0.15 0.04

Combined Mineral Reserves Tonnes Au (g/t) Co (%) Bi (%) Cu (%)Proven 16,422,000 0.97 0.12 0.16 0.04

Probable 14,564,000 0.83 0.12 0.15 0.03

Total 30,986,000 0.91 0.12 0.16 0.04

Contained Metal 907,000 ounces

82 million pounds

109 million pounds

27 million pounds

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38 holes drilled in 2010

Drilling successfully expanded deposit & intersected high-grade gold intervals

51.3m averaging 2.2 g/t Au & 0.11% Co, including 3m averaging 15.59 g/t Au, 0.46% Co, 0.05% Bi & 0.20% Cu

8.00m averaging 4.74 g/t Au & 0.16% Bi, including 1m grading 35 g/t Au

3.38m averaging 11.59 g/t Au, 0.37% Co, 0.16% Bi & 0.14% Cu, including 1.67m averaging 20.04 g/t Au, 0.36% Co, 0.24% Bi & 0.13% Cu

5.00m averaging 4.84 g/t Au, including 2.5m averaging 9.21 g/t Au

20.1m averaging 0.38% Co & 0.37% Bi

New Mineral Reserve estimates pending

2010 DRILL PROGRAM

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UNDERGROUND TEST MINING & PILOT PLANTS

Mining conditions, geometry & grades for deposit confirmed

Environmental impacts assessed

Portal, decline ramp & 2 mine levels established with ventilation raise to surface

~$ 20 million pre-production development completed

Large sample collected for $ 8 million pilot plant tests

Proved process flow sheet

Verified production of high value metal products

Increase in metal recoveries over feasibility study

Tangible demonstration of successful project to governments & communities

Reduced project risk

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GOLDEN GIANT MINE (HEMLO) MILL, ONTARIO

Buildings, equipment & spare parts acquired from Newmont Canada Relocation to NICO for significant reduction in capital costs & project risk No environmental liability for Hemlo site Dismantling & removal completed for net cash cost of ~$ 19 million Demonstration of project execution on budget & schedule

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Micon, Met-Chem, Golder, SGS Lakefield & metallurgical & engineering experts Results:

Pre-tax IRR 32.3% Pre-tax C$361 million 8% NPV Pre-production capital cost C$213 million Cash Cost US$1.41/lb Co (1)(2)

Cash Cost US $259/oz Au equivalent (2)

April 2008 metal price sensitivity increases IRR to 97.2% & NPV (8%) to $1.5 billion (3)

Study now out of date – New reserves & operational improvements not included – Capital costs will be higher

2008 DEFINITIVE FEASIBILITY STUDY

(1) Net of credits for gold and bismuth sales

(2) Base Case metal prices of US$750/oz Au, US$20/lb Co, US$10/lb Bi and US$/C$ 0.97

(3) April 2008 metal prices of US$900/oz Au, US$50/lb Co, US$16/lb Bi and US$/C$ 0.97

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43% increase in reserves to 31 Mt – 18 Yr mine life - Excludes results of 2010 drilling

16% production rate increase to 4,650 tpd

More efficient mine plan - Eliminated underground backfilling

Identification of low strip starter pit – Eliminates pre-stripping

Co-disposal of waste rock & tails – Reduces dam structures & reclamation costs

Commodity price assumptions higher:

Improved recoveries from pilot plant: Gold 56-85%, Averages 76% Cobalt 84% Bismuth 73% Copper 58% - Not previously included

Higher value metal products: Bismuth 99.5% cathode or 99.9% ingot – Feasibility study assumed concentrate Copper 99.99% cathode – Not included in feasibility study

Hydrometallurgical process plant relocated to Saskatoon Lower OPEX (~$7 million per yr) – Mitigates capital cost increase (~$30 million)

POST-DEFINITIVE FEASIBILITY STUDY IMPROVEMENTS

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Higher forecast annual metal production

Gold yrs 1 & 2 of mine life ~70,000 ozs, yrs 3-18 ~35,000 ozs

Cobalt ~ 3.4 million lbs (1,550 tonnes)

Bismuth ~ 3.65 million lbs (1,650 tonnes)

Copper ~ 770,000 lbs (350 tonnes)

Approximate cost per tonne $ 60 per tonne, $ 102 million per yr

Approximate revenue $ 110 per tonne, was $ 190 million per yr

Capital costs expected to be sub $400 million

Updated economics pending receipt of Front End Engineering & Design (FEED) Study by Jacobs Engineering & other engineering Co.’s

RESULTS OF NICO PROJECT IMPROVEMENTS

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New reserve estimates pending – Focus on expansion of gold

Front End Engineering & Design Studies completed – Currently reviewing draft

Revised capital & operating costs & financial model

Environmental Assessments advanced for mine & SMPP permitting

Developers Assessment Report submitted - No deficiencies

Saskatchewan Environmental Impact statement submitted for SMPP

Expanding management team

Production targeted in 2014

Deloitte engaged to secure strategic partner – Ideal partner: Minority equity investor at the project level

Ability to arrange & guarantee project finance facility

Expertise in cobalt or specialty metal end markets/off-take partner

Committed to an accelerated development plan

DEVELOPMENT STRATEGY

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Mount Klappan

Revised Project Description submission to BC EAO (Q1)

New reserves (Q2)

Revised economics (Q2)

MOU with CN Rail (Q2)

MOU with BC First Nations (Q2)

Second stage strategic partner(s) and project financing

NICO

New reserve estimates (Q1)

Revised economics (Q1)

Initiate Tlicho IBA Negotiations (Q2)

SMPP permits (Q3)

NICO water licence and land use permits (Q4 2012 to Q1 2013)

Strategic partner(s) and project financing

2012 TARGETED MILESTONES

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Directors Mahendra Naik, B Comm, CA Chairman, Director CFO Fundeco - Founding director & former CFO, IAMGOLD

George Doumet, MSc, MBA Honorary Chairman, Director Chemical Engineer – President & CEO, Federal White Cement

Robin Goad, MSc, PGeo President & CEO, Director Geologist - 30 yrs mining & exploration experience

David Knight, BA, LLB Secretary, Director Partner, Macleod Dixon specializing in securities & mining law

James Excell, BASc Director Metallurgical Engineer – 35 yrs mining experience BHP-Billiton

William Breukelman, BASc, MBA, Peng Director Chemical Engineer – Chairman, Gedex

James Currie, BSc (Hons), PEng Director Mining Engineer – former Executive Vice President & COO, New Gold

The Honorable Carl L. Clouter

Shou Wu (Grant) Chen, MSc, MBA

Director

Director

Commercial pilot - former owner of charter airline in NWT

Geologist – Deputy Chairman & CEO, China Mining Resources Group

Management Julian Kemp, BBA, CA VP Finance & CFO Chartered Accountant – 20+ yrs mining financial experience

Thomas Rinaldi, BSc VP Operations Mining Engineer – 30 yrs engineering & operations experience

Michael De Carlo, BSc, BBA

Bill Shepard

Project Manager

Logistics Manager

Mining Engineer – 40+ yrs engineering & managerial experience

15 yrs experience in procurement and logistics

Dr. Richard Schryer, PhD

Adam Jean, HBA, CA

Director Regulatory & Environmental AffairsController

Aquatic Scientist –20+ yrs experience in mine permitting & environmental assessmentsChartered Accountant previously with Ernst & Young

James Mucklow, MESc, PEng

Keith Lee, BSc

Manager Env.& Community

Senior Process Engineer

Geological Engineer – 20+ yrs geological & environmental experience

25 yrs operations, engineering & mineral processing experience

Emerging Strategic Metal & Coal

Producer

For further information, please contact:

Robin Goad, President & Chief Executive Officer

Troy Nazarewicz, Investor Relations Manager140 Fullarton Street, Suite 1902

London, Ontario, Canada

N6A 5P2

Tel. (519) 858-8188

Fax. (519) 858-8155

E-mail. tnazarewicz @fortuneminerals.com

Website. www.fortuneminerals.com

TSX-FT