Alta Mining (FOGC) Exploration in a Mineral-Rich Region of BC, Canada

HENDERSON, Nev., July 13, 2011 /PRNewswire/ -- Fortune Oil and Gas, Inc. (FOGC; http://www.fortuneoilandgascorp.com) and its subsidiary Alta Mining, driven by the latest compilation report based on the previous exploration work and significant geological potential (contoured by geologists who had worked on the property in the past), are entering final stages of the negotiation process which could result in significant enhancement of the company's presence in the region.

Alta Mining is in the process of building a sizable inventory of base metal resources and is on an aggressive hunt to add an additional mineral property into its portfolio. The company is seeking to expand the size of its presence across a relatively under-explored territory proximate to its current positions. Alta management is confident that a possible increase of the company mining portfolio into an area with already proven mineral deposits will help it to benefit from the reality of the current mining and commodity market environment.

Upon conclusion of the negotiation process, Alta is going to determine future exploration plans and start with property development focused predominantly on the quick and accurate exploration techniques that will further reveal property's mining potential. This kind of business dynamic should allow the company to increase the value of its natural resource potential, integrate itself effectively into the global mining market and keep FOGC as a favorable competitive investment opportunity for its current and future shareholders.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Fortune Oil & Gas, Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Fortune Oil & Gas, Inc. cautions you that any forward-looking information provided by or on behalf of Fortune Oil & Gas, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Fortune Oil & Gas, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Fortune Oil & Gas, Inc.'s control. In addition to those discussed in Fortune Oil & Gas, Inc.'s press releases, public filings, and statements by Fortune Oil & Gas, Inc.'s management, including, but not limited to, Fortune Oil & Gas, Inc.'s estimate of the sufficiency of its existing capital resources, Fortune Oil & Gas, Inc.'s ability to raise additional capital to fund future operations, Fortune Oil & Gas, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Fortune Oil & Gas, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Fortune Oil & Gas, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Fortune Oil & Gas, Inc.

Investor Relations
1-647-426-1640
www.minamargroup.net/helpdesk

Investor Relations Department Inquiries
www.minamargroup.net

For M&A and Corporate Matters
www.minamargroup.com

SOURCE Fortune Oil & Gas, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED