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.
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