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Modified Strategic Direction/Change With Respect to Incahuasi
Apr 09, 2009 01:19PM
April 9, 2009
Fortune Valley Announces Modified Strategic Direction, Announces Change With Respect to Incahuasi and Announces Grant of Options
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2009) - Fortune Valley Resources Inc. ("Fortune Valley" or the "Company") (TSX VENTURE:FVX) today announced the following:
The Board of Directors has narrowed the strategic direction of the Company to focus solely on the acquisition and development of gold mining projects in Chile and Argentina.
The Board of Directors has decided that since the Company has not identified an economic deposit at Incahuasi, the project is no longer a Material Property to the Company.
The Company also announces that it has agreed to grant stock options to technical consultants of the Company allowing them to acquire up to 350,000 common shares. The issuance of stock options under the agreement is subject to the approval of the TSX Venture Exchange.
Mr. Robert Perry, Certified Professional Geologist, V.P. Exploration, Intuitive Exploration Inc., is a Qualified Person, as identified under National Instrument 43 - 101, and has reviewed the technical disclosure in this press release.
Fortune Valley Resources Inc. is a mining company focused on creating shareholder wealth through the development of high quality gold assets in Chile and Argentina.
The Board of Directors
Fortune Valley Resources Inc.
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