VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/20/08 -- Fortune Valley Resources Inc. ("Fortune Valley" or the "Company") (TSX VENTURE: FVX) reports it has recently completed a detailed ground magnetic geophysical survey along the southwestern boundary of the Anillo property immediately north and along strike of Angosta vein discovery at Yamana Gold's El Penon gold/silver mine complex in northern Chile. The interpretation of the geophysical survey shows the extension of the Angosta vein structure on to Fortune Valley's Anillo property. In addition, the survey data shows an intense magnetic low suggesting favorable alteration along the defined structural trend. The altered zone may represent one of the flow-banded rhyolite domes intricately associated with gold and silver vein mineralization at El Penon.

As indicated in Yamana's December 2, 2007 exploration overview presentation, Yamana considers the Angosta Norte gold-silver vein located in the Bloque Norte to be a high priority area for additional vein discovery. Fortune Valley's geologic team has documented that Yamana trenched and drilled up to the boundary of the Anillo property. The Company's overall property interest totals 31,200 hectares and flanks Yamana Gold's El Penon Mine to the north and east.

The Anillo project is located in the Atacama Desert in Region II of northern Chile. It is approximately 160 km southeast of the port city of Antofagasta, and 40 km west from the massive Escondida copper mine at an elevation of 1,800 meters above sea level. The property is within the Paleocene gold belt and is contiguous on the north and east with Yamana's El Penon mine property. Based on Fortune Valley's geologic evaluation, the Anillo project contains the geologic setting of El Penon and is on strike extension of the vein controlling structures, thus making the Anillo project highly prospective for a new gold-silver discovery.

The Company has a drill targeting budget of US$250,000 budget to identify and refine drill targets on the Anillo property. The project will be drill ready this fall. At that time, additional funds will be approved for the drill program.

Mr. William C. (Bill) Howald, AIPG, Certified Professional Geologist # 11041, Fortune Valley Resources' VP Exploration & Corporate Development, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release and has approved of this press release.

About Fortune Valley

Fortune Valley Resources Inc. is a Canadian mining exploration company focused on creating shareholder wealth through the acquisition, exploration and development of high quality gold and silver projects in Chile and Argentina. The Company's Board of Directors and management team has proven technical and commercial successes at some of the major gold mines and projects in North and South America, including Yanacocha, Cortez, Voisey's Bay, Zaldivar, Turquoise Ridge, Fort Knox, La Coipa, Pueblo Viejo and Cerro Casale. Management has good understanding of how to do business in Latin America gained from living and working in the region, and extensive skills in exploration, feasibility work, business and corporate development, gold trading, finance and executive management of public companies. Fortune Valley holds ownership interests in approximately 54,000 hectares exploration concessions in Chile.

On behalf of the Board of Directors

Michael J. Gingles, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.