Fortune Valley Announces Closing of $250,000 Convertible Debenture Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2009) - Fortune Valley Resources Inc. (the "Company") (TSX VENTURE:FVX) announces that the TSX Venture Exchange has accepted for filing the documents relating to the $250,000 convertible debenture that the Company announced on October 5^th it was issuing to Uruguay Mineral Exploration Inc. and that the financing has closed. The debenture is subject to a hold period that expires on February 6, 2010.

Fortune Valley Resources Inc. is a mining company focused on creating shareholder wealth through the development of high quality gold assets in Chile and Argentina.

The Board of Directors

Fortune Valley Resources Inc.