Sunday, September 11, 2011

ALTA Mining (FOGC): Developments at the SHG Property

HENDERSON, NEVADA--(Marketwire -09/09/11)- Fortune Oil & Gas, Inc. (PINK SHEETS: FOGC) (www.fortuneoilandgascorp.com) subsidiary Alta mining Inc. announces that the next stage of development for the company's "SHG" property located at Slocan BC, Canada, has been scheduled to start on September 12th, 2011.

The Exploration Team is on its way to Company's property and a field program that includes prospecting, mapping soil sampling, rock chip sampling will commence on September 12th, 2011.

Also planned for this stage of exploration is the reconfirmation of silver showings which have been noted in previous exploration work. The QP compliant with the National Instrument 43-101 will also be responsible for conducting the exploration program, as well as providing a full written report, documenting all findings resulting from the prospecting and sample collecting conducted on the property.

The report will be submitted to the Governmental Assessment office for credit to the property, and will provide the company with an accredited body of work with which to continue the exploration and development of the SHG claim set.

Company will be posting updates during exploration program on its website (www.fortuneoilandgascorp.com) and shareholders will not have to wait for completion of the whole program to receive updates on the progression of the exploration work.

For those investors concerned about the exploration funding, the company advises that company is fully funded for all upcoming operations and project development, and is not due to any sort of financing, therefore there is any form of dilution coming to FOGC shareholders.

More details will follow shortly.

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.

No comments:

Disclaimer

Average Joe's Picks is an independent electronic medium, which provides industry data and information on publicly traded companies for the use of our readers. Furthermore, the provided data should not be used as the sole basis for making any investment decision. The individual investor's own due diligence is of the utmost importance and highly recommended.