Fortune Valley Undertakes $2 Million Private Placement

Fortune Valley Resources Inc. (TSX VENTURE:FVX) ("Fortune Valley" or the
"Company") today announced that it intends to carry out a non-brokered private
placement of up to 10 million units at a price of $0.20 per unit for gross
proceeds of up to $2 million. Each unit will be comprised of one common share of
the Company and one-half of one common share purchase warrant, with each whole
warrant entitling the holder thereof to purchase one common share at a price of
$0.30 for a period of one year.


The proceeds from the private placement will be used for exploration and
development of the Company's mineral projects and for working capital.


The Company will also pay finder's fees to eligible parties of up to 6% of the
gross proceeds realized from the private placement, which may be payable in cash
or shares of the Company.


The private placement is subject to the acceptance of the TSX Venture Exchange.

About Fortune Valley

Fortune Valley Resources Inc. is a Canadian mining exploration company focused
on creating shareholder wealth through the acquisition, exploration and
development of high quality gold and silver projects in Chile and Argentina. The
Company has assembled a highly experienced board of directors and management
team with proven technical and commercial successes at some of the major gold
mines and projects in North and South America, including Yanacocha, Cortez,
Voisey's Bay, Zaldivar, Turquoise Ridge, Fort Knox, La Coipa, Pueblo Viejo and
Cerro Casale. Management has an in-depth understanding of how to do business in
Latin America gained from living and working in the region, and extensive skills
in exploration, feasibility work, business and corporate development, gold
trading, finance and executive management of public companies. Fortune Valley
holds ownership interests in approximately 54,000 hectares exploration
concessions in Chile.


On behalf of the Board of Directors,

Michael J. Gingles, President and CEO