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      Fortune Valley Undertakes $2 Million Private Placement
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Vancouver, British Columbia -- June 12, 2008 -- Fortune Valley
Resources Inc. (TSX-V: 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


For additional information contact:
 
CHF Investor Relations
Mr. Robin Cook, Senior Account Manager
Phone: (416) 868-1079, Ext. 228
Fax: (416)868-6198
Email: robin@chfir.com

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