Fortune Valley Resources Inc. Identifies Priority Targets on the Anillo Project by 24hgold

Re: News Release - Monday, November 03, 2008
Title: Fortune Valley Identifies Priority Targets on the Anillo Project

News Release No. 08-13

View News Release in PDF Format

Vancouver, British Columbia - November 4th, 2008 - Fortune Valley Resources Inc. (TSX-V: FVX and OTC: FTVYF) ("Fortune Valley" or the "Company") reports that it has identified four priority target areas on the Anillo property located adjacent to the El Pe��n mining complex in Region II of the Republic of Chile.

A detailed rock-chip sampling program was completed by Fortune Valley over the southwest corner of the Anillo property where a previously announced comprehensive magnetic geophysical survey was completed by the Company. The geophysical survey shows the north-south El Pe��n structural trend continues on to the Anillo property. Using a publically available geochemical study from 2005 completed for the El Pe��n mine, the Anillo samples were treated to enhance geochemical trends in the dataset. The resulting analysis corroborates the geophysical trend and indicates the Anillo samples are potentially within 150 metres of the pay zone of an El Pe��n-like vein system. The geochemical signature is comparable in magnitude to samples collected above and proximal to the El Pe��n veins at the mine.

In addition, the filter was applied to other rock-chip samples collected within the Anillo project. The results highlight three additional high-priority areas within Fortune Valley's land holdings. At present, the Anillo project contains four high-priority target areas with values similar in size and strength to those found at the El Pe��n mine. Additional trenching and detailed geophysics is planned to further refine these drill targets. Figure 1 shows the distribution of anomalies on the Anillo project along with the mapped structural controls.

Click to Enlarge

The Anillo geochemical dataset shows that copper, zinc and arsenic values decrease toward the vein system while silver, lead, and ultimately gold increase. The anomalies have similar magnitude and size to samples over the El Pe��n gold mine. The published values of antimony, arsenic, zinc, lead, copper and silver at El Pe��n were reviewed and filtered based on distance from 0 to 150 metres above and proximal to the El Pe��n gold/silver vein system. In addition, compilation of historic drillholes completed during the porphyry copper exploration programs of CODELCO, Utah International and Billiton show mineralized veins with anomalous gold and silver values were intersected. One drillhole, ANI-8, returned 1.1 g/t Au and 26 g/t Ag over 2 metres from a logged silicified breccia within Target 2 as shown in Figure 1.

The Anillo project consists of 31,200 hectares located within the Paleocene gold belt of Chile. Past exploration work on the project focused on copper within the altered volcanic lithologies. The regional geologic setting is the same as the adjacent El Pe��n gold mine which is the largest gold producer in Chile. Expected annual metal production is 460,000 to 470,000 gold equivalent ounces for 2008, and with proven and probable reserves (at December 31, 2007) equal to 9.0M tonnes grading 6.64 g/tone Au for 1.9-million ounces of gold and 9.0M tonnes grading 280 g/tonne Ag for 81-million ounces of silver. Exploration work on the Anillo project is focusing on defining drill targets for discovery of an El Pe��n-like gold/silver vein system.

Mr. William C. (Bill) Howald, AIPG, Certified Professional Geologist # 11041, Fortune Valley Resources' VP Exploration & Corporate Development, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

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's Board of Directors and management team has 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 good 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

For additional information contact:

Robin Cook,
Senior Account Manager

CHF Investor Relations
Phone: (416) 868-1079, Ext. 228
Fax: (416)868-6198
robin@chfir.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

View News Release in PDF Format:
http://www..fortunevalleyresources.com/i/pdf/2008-11-03_NR.pdf: 100 KB in size, approx. 20 seconds to download at 56.6Kbps

Copyright � 2008 FORTUNE VALLEY RESOURCES INC. (FVX) All rights reserved. For more information visit our website at http://www.fortunevalleyresources..com/ or send email to info@fortunevalleyresources.com ..

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.