FORTUNE MINERALS ANNOUNCES EXPANDED MANAGEMENT TEAM

LONDON, ON, May 12 /CNW/ --
Issued Capital: 107,519,427

Additional Support for Project Development, Communications and
Administration

LONDON, ON, May 12 /CNW/ - Fortune Minerals Limited (TSX-FT) ('Fortune Minerals' or 'the Company') is pleased to announce the
addition of three new members to its project development and
administration teams in London, Ontario.  William Shepard has joined
the company as Logistics and Procurement Manager, Troy Nazarewicz as
Investor Relations Manager, and Fiona Brekelmans as Accounting
Manager.  'We are very pleased to be adding exceptional people to
strengthen our management and add depth to the Company', said Robin
Goad, President and CEO of Fortune Minerals.  'We will continue to add
talent as the Company grows and advances toward our goal of becoming a
successful gold, specialty metals, and metallurgical coal producer'.

William Shepard, who had been working as a contractor with Fortune
Minerals assisting with the dismantling of our Golden Giant mine
buildings and equipment at Hemlo, Ontario, has now joined the Company
full-time as our Manager of Logistics and Procurement.  Bill has a
Diploma in Industrial Management and specializes in global supply chain
management developed over 20 years of previous experience in the
automotive and aerospace industries with TRW Automotive Holdings Inc.,
Magna International Inc., Keiper Limited and Diamond Aircraft
Industries Inc.  His expertise in purchasing, logistics, materials
management, and supplier development has already had an impact on the
successful completion of the Hemlo project with his new role supporting
planning for the development of the proposed NICO
gold-cobalt-bismuth-copper mine and concentrator in the Northwest
Territories and hydrometallurgical refinery in Saskatchewan.

Troy Nazarewicz, CIM, FCSI, has also joined Fortune Minerals as Manager
of the Company's investor relations and corporate communications
programs.  Troy has more than 17 years of experience in the financial
services industry as an investment advisor and portfolio manager with
MacDougall, MacDougall & MacTier Inc., a full service Canadian
investment firm.  He also worked as Business Development Manager with a
design and marketing firm.  In these previous positions, Troy gained
valuable experience communicating with both retail and institutional
investors that will assist Fortune Minerals in proactively engaging
with the investment community and improving market awareness of our
Company and its projects.

Fiona Brekelmans, B.Acc. (Hon), C.A. joined Fortune Minerals in late
2010 as Accounting Manager to assist the CFO and Controller and add
capacity with the Company's external and internal financial reporting
and regulatory compliance.  She is also helping with the transition of
its financial reporting to International Financial Reporting Standards
('IFRS') for public issuers.  Prior to joining Fortune Minerals, Fiona
worked in public accounting with Ernst & Young LLP where she gained
valuable experience with a variety of public and private companies in
the mining, construction and manufacturing sectors in accounting,
audit, and business processes.

About Fortune Minerals:

Fortune Minerals is a diversified resource company with several mineral
deposits and a number of exploration projects, all located in Canada. 
The Company is focused on the development of its NICO
gold-cobalt-bismuth-copper deposit in the Northwest Territories and its
metals processing plant in Saskatchewan.  Fortune Minerals owns the
buildings and equipment from the Golden Giant Mine at Hemlo, Ontario,
which have been dismantled, moved, and stored for relocation to NICO. 
Fortune Minerals also owns the Mount Klappan anthracite metallurgical
coal deposits in British Columbia and has engaged Deloitte & Touche
Corporate Finance Canada to assist in attracting a strategic partner to
develop this project.  In addition, the Company owns the Sue-Dianne
copper-silver deposit and other exploration projects in the Northwest
Territories.  Fortune Minerals is focused on outstanding performance
and growth of shareholder value through assembly and development of
high quality mineral resource projects.

This press release contains forward-looking information. This
forward-looking information includes statements with respect to, among
other things, the proposed development of   the NICO project and the
proposed purchase and development of the site for the SMPP.
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, the inherent volatility of metal prices, the risk that the
Company may not be able to arrange the necessary financing to construct
and operate the NICO mine and the SMPP, uncertainties with respect to
the receipt or timing of required permits for the development of the
NICO project and the SMPP, the possibility of delays in the
commencement of production from the NICO project and construction of
the SMPP and other factors. 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 or revise it to reflect new
events or circumstances, except as required by law.

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