Fortune River Resource Corp follows a strategy of acquiring projects with significant high-grade gold potential in historic mining districts. Project acquisitions have focused on the prolific gold producing state of Nevada and the province of Ontario. In Nevada, Fortune River currently has six low-sulphidation, gold properties; the Wind Mountain, Highland, Baxter, Buz, Mud Springs and the East Manhattan projects.
1. Fortune River Resource Corp.
Rio Fortuna Exploration (US) Inc.
Highland Mining LLC.
~6,013 hectares/~23 square
miles in 8 projects located in
Nevada & Ontario
May 2010
FRX – TSX.V
Frankfurt: RG7A
2. Nevada Projects
Zebra ‘JV’
Wind Mtn
Mud Springs
Buz ‘JV’
Baxter
E. Manhattan
Highland ‘JV’
3. Wind Mountain
Historic Production
299,259 oz Au recovered from 434,089 oz Au mined, with
1,769,426 oz Ag recovered (closure since 1997)
Amax Gold Open Pit
View looking north
Amax Gold Heap Leach Amax Dump
Status
• Positive PEA (Scoping study) completed - shallow, oxide
leach-grade resource, not incl. ‘waste’ piles
• Data-sharing w/ U.S. Geothermal – they plan extensive
seismic geophysics & possibly 2000’ drill hole in 2010
• Potential for bonanza-grade ‘feeders’ & additional
disseminated Au/Ag
4. Wind Mtn – Existing Resource
Resource Estimate by Ore Reserves
Engineering December 2007
Short Tons Grade opt Cut-off Oz. Au
(tonnes) (g/t)
Measured 33.7 MM 0.012 0.0075 406,000
+ (30.6 MM) (0.411) (0.257)
Indicated
Inferred 9.8 MM 0.009 0.0075 92,000
(8.9 MM) (0.308) (0.257)
Not 74 MM 0.006 444,000
currently (67.2 MM) (0.205)
economic
5. Wind Mtn – Existing Resource
0.005 opt (0.171 g/t) Au shell in green
Breeze Open Pit
Wind Open Pit
View Looking NE
Ore reserves Engineering 2007
6. Wind Mtn – MDA’s 2010 PEA
BASE CASE - Open-pit mining w/ trucks,
shovels, ROM leaching, US$850/oz Au &
$14.50/oz Ag
Resource inside pits = 26.9 million short tons
@ 0.012 oz Au/t, with 0.007 oz Au/t cutoff
(~90% Measured + Indicated, ~10% Inferred)
Gold Ounces mined = 320,000
Gold Ounces produced = 198,000
Waste: Ore Strip ratio = 0.7:1
Capital = Initial capital of $41.8 million w/ $4.4
million sustaining capital
Mine Life = 4 years active mining with 2
additional years residual leaching and rinsing
Life-of-mine cash cost per Au ounce = $497
after Ag credit of $86 per ounce of gold
Total Pre-Tax cost per Au ounce = $719 after a
Ag credit of $86 per ounce of gold
IRR = 15%
Pre-tax NVP @ 5% = $13.2 million
7. Wind Mtn – MDA’s 2010 PEA
Sensitivity – Base case w/ Au & Ag
prices 20% higher ($1,020/oz Au &
$17.40/oz Ag)
Resource inside pits = 26.9 million short tons
@ 0.012 oz Au/t, with 0.007 oz Au/t cutoff
(~90% Measured + Indicated, ~10% Inferred)
Gold Ounces mined = 320,000
Gold Ounces produced = 198,000
Waste: Ore Strip ratio = 0.7:1
Capital = Initial capital of $41.8 million w/ $4.4
million sustaining capital
Mine Life = 4 years active mining with 2
additional years residual leaching and rinsing
IRR = 38%
Pre-tax NVP @ 5% = $43.7
million
9. Wind Mtn – ‘Waste’ Pile Resource
61% Au recovery, w/
low reagent use, Wind Mtn Dump Sampling (n=108 samples)
half in 16 days
350
328 330
322
295
300
283
250 Bulk Dump Bulk
sample average sample 220
200
column column
Au in ppb
0.216 g/t
test nearly test
150
“blinded
completed
100 off”
Head grade
50
Head grade
0.456 g/t
0
0.682 g/t
South Dump Breese Dump West Dump
+4" (blue) vs -4" (purple)
~9MM tonnes ‘Waste’ originally
0.216 g/t Au (~65K oz contained)
10. Wind Mtn – Exploration Potential
Looking SE
Possible
2000‟
„gradient‟
well sites
Altered areas
surround
possible buried
intrusion here
Flow dome
Single hole w/ 60‟
0.318 g/t Au @
bottom (TD 540‟)
11. East Manhattan
Gold Hill deposit
(+2,000,000 oz Au,
production 2010?)
Round Mtn mine
(+14,000,000 oz Au)
Round Mtn
Gold Co. 2009
Gold Wedge drilling, plans
2010 on our W Max Res. announced in 2009
development project
(+100,000 oz Au) margin significant coarse gold at their
East Manhattan Wash property
Manhattan district
(~1,000,000 oz Au, w/
~500,000 oz Au from
White Caps mine – Regional Magnetics w/
Echo Bay) Major Geologic Features
12. East Manhattan
drill sites recently
Round Mtn Gold
Best chip samples
permitted
3m 23.8 g/t Au & 11.9 g/t Ag
1.5m 15.2 g/t Au & 16.5 g/t Ag
Wash (Max Res.)
East Manhattan
FRX Mapping
& Samples
18. Zebra ‘JV’
NEARBY H.G. DEPOSITS
Midas
3MM oz Au & 35 MM oz Ag
Midas mine
Hollister-Ivanhoe
1.8MM oz Au & 8.4MM oz Ag
Zebra
Fire Creek
1.05MM oz Au
Clover Project
2003 Newmont drilling
at north end of Zebra
19. Zebra ‘JV’ – On Strike w/ Clover
Yamana/Atna Clover 2007 Results - 7 Hole Program
Drill hole From(ft) To(ft) Length(ft) Au oz/ton Ag oz/ton
CV005 440 470 30 0.031 0.05
including 465 470 5 0.110 0.22
CV006 590 660 70 0.190 0.31
including 590 625 35 0.321 0.54
including 600 605 5 1.581 0.81
Yamana/Atna Clover 2008 Results - 10 Hole Program
Hole No. From(ft) To(ft) Length (ft) Au oz/ton Ag oz/ton
USCV009 760 810 50 0.017 0.48
815 845 30 0.084 0.14
including 830 835 5 0.404 0.15
USCV011 660 680 20 0.136 0.57
including 665 670 5 0.394 1.55
USCV012 695 710 15 0.403 0.49
including 695 700 5 1.123 1.27
USCV013 575 610 35 0.026 4.56
including 590 595 5 0.104 23.28
USCV016 635 660 25 0.071 4.58
including 635 640 5 0.161 6.42
20. FRX Summary
• Wind Mtn – Positive PEA completed, Technical Report underway.
US Geothermal seismic/drilling in 2010. 100% FRX.
• East Manhattan – Planned core drilling for high-grade Au vein
potential, possible bulk-mineable. 100% FRX.
• Highland & Buz „JV‟s – 3 more IP geophysical lines. Drilling
planned w/ funding by Christopher James Gold (CGJ). 30% FRX
after CGJ earns-in, FRX operator.
• Zebra „JV‟ – Ground work planned for spring 2010, permitting after
targets selected. Funding 50/50 FRX and CJG. 50% FRX after CJG
earns-in, FRX operator.
• Baxter – IP geophysical survey planned. 100% FRX.
• Drayton, Mud Springs - Seek ‘JV’ partners, possible exposure to
molybdenum market. 100% FRX.
• Continue to evaluate potential new properties.
21. Directors
Joseph A. Kizis, Jr., P.Geo, President
• 35 years of experience in minerals exploration, both with major mining companies and with junior explorers.
• Past president of the Geological Society of Nevada.
• President and a Director of Bravo Gold Corp, Fortune River Resource and Bravada Gold Corp.
Lawrence Page, Q.C.
• Corporate and Securities Law practice for 45 years.
• Acted as an Officer and Director of many mineral exploration companies including six which brought their
mineral properties into commercial production.
• Principal and founder of the Manex Resource Group.
Terry Eyton
• His experience ranges from public and private audits to serving as a Board member on public companies.
• Managing partner of a medium sized accounting firm in Vancouver, British Columbia.
Richard Hughes
• Proven track record and extensive experience in the management of public mineral exploration companies.
• Involved in the discovery of some of the largest Canadian gold mines, e.g. the Golden Giant/Hemlo mine.
• President of six mining exploration companies currently listed on the Toronto Stock Exchange.
Michael Rowley, RPBio
• 18 years executive experience with private companies in the mining and mineral testing industries.
• Co-author of numerous mining related technical papers and two patents relating to mineral processing and
mine water treatment.
22. Corporate Information
Symbol:
TSX.V: FRX
Frankfurt: RG7A
Share Structure
Year Range: $0.05 - $0.14
Shares Outstanding: 38.6 million
Fully Diluted: 51.7 million
Share Ownership
Directors, Management & Close Associates – 35%
Head Office
#1100 – 1199 West Hastings St.
Vancouver, BC V6E 3T
www.fortuneriver.ca