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Fortune Valley Resources Inc

Monday, July 30th, 2007

Fortune Valley Resources Inc. is pleased to announce that it has completed its initial public offering. The Offering consisted of 7,777,778 units at a price of $0.45 per Unit, together with the full exercise of an over-allotment option for an additional 1,166,667 Units, resulting in gross proceeds of $4,025,000.
Each Unit was 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 $0.65 for a period of 18 months from the closing date, provided that, if at any time during the period commencing 4 months after and up to 12 months from the closing date, the closing price of the Common Shares on the TSX Venture Exchange is equal to or greater than $1.00 per share for 20 consecutive trading days, or during the period commencing 12 months after and up to 18 months from the closing date, the closing price of the Common Shares on the Exchange is equal to or greater than $1.20 per share for 20 consecutive trading days, the Company may elect to provide notice of acceleration of the exercise term to holders of the Warrants and the Warrants will then expire thirty days after such notice is given.
The Exchange has conditionally approved the listing of the Common Shares subject to the Company fulfilling all of the requirements of the Exchange. The Company has reserved the stock symbol “FVX”.
Fortune Valley Resources CEO and President, Michael Gingles stated: “Fortune Valley provides an exciting new investment alternative for investors. The company is at the forefront of a new generation of mining companies that have evolved from the recent consolidations within the gold industry – with a highly-motivated, skilled exploration team and a management team capable of implementing new concepts and vision in its strategy.
“We have a clear focus on how we will achieve value for our stakeholders; in addition to pursuing an aggressive work plan to fully explore the potential at Incahuasi, we will leverage our local knowledge and strong business relationships in South America to identify, evaluate and secure new opportunities with a realistic potential for resource growth.”

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