F R X Presentation May 19 2010

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Fortune River Resource Corp follows a strategy of acquiring projects with significant high-grade gold potential in historic mining districts. Project acquisitions have focused on the prolific gold producing state of Nevada and the province of Ontario. In Nevada, Fortune River currently has six low-sulphidation, gold properties; the Wind Mountain, Highland, Baxter, Buz, Mud Springs and the East Manhattan projects.

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F R X Presentation May 19 2010

  1. 1. Fortune River Resource Corp. Rio Fortuna Exploration (US) Inc. Highland Mining LLC. ~6,013 hectares/~23 square miles in 8 projects located in Nevada & Ontario May 2010 FRX – TSX.V Frankfurt: RG7A
  2. 2. Nevada Projects Zebra ‘JV’ Wind Mtn Mud Springs Buz ‘JV’ Baxter E. Manhattan Highland ‘JV’
  3. 3. Wind Mountain Historic Production 299,259 oz Au recovered from 434,089 oz Au mined, with 1,769,426 oz Ag recovered (closure since 1997) Amax Gold Open Pit View looking north Amax Gold Heap Leach Amax Dump Status • Positive PEA (Scoping study) completed - shallow, oxide leach-grade resource, not incl. ‘waste’ piles • Data-sharing w/ U.S. Geothermal – they plan extensive seismic geophysics & possibly 2000’ drill hole in 2010 • Potential for bonanza-grade ‘feeders’ & additional disseminated Au/Ag
  4. 4. Wind Mtn – Existing Resource Resource Estimate by Ore Reserves Engineering December 2007 Short Tons Grade opt Cut-off Oz. Au (tonnes) (g/t) Measured 33.7 MM 0.012 0.0075 406,000 + (30.6 MM) (0.411) (0.257) Indicated Inferred 9.8 MM 0.009 0.0075 92,000 (8.9 MM) (0.308) (0.257) Not 74 MM 0.006 444,000 currently (67.2 MM) (0.205) economic
  5. 5. Wind Mtn – Existing Resource 0.005 opt (0.171 g/t) Au shell in green Breeze Open Pit Wind Open Pit View Looking NE Ore reserves Engineering 2007
  6. 6. Wind Mtn – MDA’s 2010 PEA BASE CASE - Open-pit mining w/ trucks, shovels, ROM leaching, US$850/oz Au & $14.50/oz Ag Resource inside pits = 26.9 million short tons @ 0.012 oz Au/t, with 0.007 oz Au/t cutoff (~90% Measured + Indicated, ~10% Inferred) Gold Ounces mined = 320,000 Gold Ounces produced = 198,000 Waste: Ore Strip ratio = 0.7:1 Capital = Initial capital of $41.8 million w/ $4.4 million sustaining capital Mine Life = 4 years active mining with 2 additional years residual leaching and rinsing Life-of-mine cash cost per Au ounce = $497 after Ag credit of $86 per ounce of gold Total Pre-Tax cost per Au ounce = $719 after a Ag credit of $86 per ounce of gold IRR = 15% Pre-tax NVP @ 5% = $13.2 million
  7. 7. Wind Mtn – MDA’s 2010 PEA Sensitivity – Base case w/ Au & Ag prices 20% higher ($1,020/oz Au & $17.40/oz Ag) Resource inside pits = 26.9 million short tons @ 0.012 oz Au/t, with 0.007 oz Au/t cutoff (~90% Measured + Indicated, ~10% Inferred) Gold Ounces mined = 320,000 Gold Ounces produced = 198,000 Waste: Ore Strip ratio = 0.7:1 Capital = Initial capital of $41.8 million w/ $4.4 million sustaining capital Mine Life = 4 years active mining with 2 additional years residual leaching and rinsing IRR = 38% Pre-tax NVP @ 5% = $43.7 million
  8. 8. Wind Mtn – ‘Waste’ Pile Resource? West Dump
  9. 9. Wind Mtn – ‘Waste’ Pile Resource 61% Au recovery, w/ low reagent use, Wind Mtn Dump Sampling (n=108 samples) half in 16 days 350 328 330 322 295 300 283 250 Bulk Dump Bulk sample average sample 220 200 column column Au in ppb 0.216 g/t test nearly test 150 “blinded completed 100 off” Head grade 50 Head grade 0.456 g/t 0 0.682 g/t South Dump Breese Dump West Dump +4" (blue) vs -4" (purple) ~9MM tonnes ‘Waste’ originally 0.216 g/t Au (~65K oz contained)
  10. 10. Wind Mtn – Exploration Potential Looking SE Possible 2000‟ „gradient‟ well sites Altered areas surround possible buried intrusion here Flow dome Single hole w/ 60‟ 0.318 g/t Au @ bottom (TD 540‟)
  11. 11. East Manhattan Gold Hill deposit (+2,000,000 oz Au, production 2010?) Round Mtn mine (+14,000,000 oz Au) Round Mtn Gold Co. 2009 Gold Wedge drilling, plans 2010 on our W Max Res. announced in 2009 development project (+100,000 oz Au) margin significant coarse gold at their East Manhattan Wash property Manhattan district (~1,000,000 oz Au, w/ ~500,000 oz Au from White Caps mine – Regional Magnetics w/ Echo Bay) Major Geologic Features
  12. 12. East Manhattan drill sites recently Round Mtn Gold Best chip samples permitted 3m 23.8 g/t Au & 11.9 g/t Ag 1.5m 15.2 g/t Au & 16.5 g/t Ag Wash (Max Res.) East Manhattan FRX Mapping & Samples
  13. 13. East Manhattan 4-6 core holes proposed in 2010
  14. 14. Highland ‘JV’
  15. 15. Highland ‘JV’ Looking north Cross vein B A vein vein “A” vein Looking down Cross fault Resistivity Section w/ Interpreted Geology
  16. 16. Buz ‘JV’
  17. 17. Buz ‘JV’
  18. 18. Zebra ‘JV’ NEARBY H.G. DEPOSITS Midas 3MM oz Au & 35 MM oz Ag Midas mine Hollister-Ivanhoe 1.8MM oz Au & 8.4MM oz Ag Zebra Fire Creek 1.05MM oz Au Clover Project 2003 Newmont drilling at north end of Zebra
  19. 19. Zebra ‘JV’ – On Strike w/ Clover Yamana/Atna Clover 2007 Results - 7 Hole Program Drill hole From(ft) To(ft) Length(ft) Au oz/ton Ag oz/ton CV005 440 470 30 0.031 0.05 including 465 470 5 0.110 0.22 CV006 590 660 70 0.190 0.31 including 590 625 35 0.321 0.54 including 600 605 5 1.581 0.81 Yamana/Atna Clover 2008 Results - 10 Hole Program Hole No. From(ft) To(ft) Length (ft) Au oz/ton Ag oz/ton USCV009 760 810 50 0.017 0.48 815 845 30 0.084 0.14 including 830 835 5 0.404 0.15 USCV011 660 680 20 0.136 0.57 including 665 670 5 0.394 1.55 USCV012 695 710 15 0.403 0.49 including 695 700 5 1.123 1.27 USCV013 575 610 35 0.026 4.56 including 590 595 5 0.104 23.28 USCV016 635 660 25 0.071 4.58 including 635 640 5 0.161 6.42
  20. 20. FRX Summary • Wind Mtn – Positive PEA completed, Technical Report underway. US Geothermal seismic/drilling in 2010. 100% FRX. • East Manhattan – Planned core drilling for high-grade Au vein potential, possible bulk-mineable. 100% FRX. • Highland & Buz „JV‟s – 3 more IP geophysical lines. Drilling planned w/ funding by Christopher James Gold (CGJ). 30% FRX after CGJ earns-in, FRX operator. • Zebra „JV‟ – Ground work planned for spring 2010, permitting after targets selected. Funding 50/50 FRX and CJG. 50% FRX after CJG earns-in, FRX operator. • Baxter – IP geophysical survey planned. 100% FRX. • Drayton, Mud Springs - Seek ‘JV’ partners, possible exposure to molybdenum market. 100% FRX. • Continue to evaluate potential new properties.
  21. 21. Directors Joseph A. Kizis, Jr., P.Geo, President • 35 years of experience in minerals exploration, both with major mining companies and with junior explorers. • Past president of the Geological Society of Nevada. • President and a Director of Bravo Gold Corp, Fortune River Resource and Bravada Gold Corp. Lawrence Page, Q.C. • Corporate and Securities Law practice for 45 years. • Acted as an Officer and Director of many mineral exploration companies including six which brought their mineral properties into commercial production. • Principal and founder of the Manex Resource Group. Terry Eyton • His experience ranges from public and private audits to serving as a Board member on public companies. • Managing partner of a medium sized accounting firm in Vancouver, British Columbia. Richard Hughes • Proven track record and extensive experience in the management of public mineral exploration companies. • Involved in the discovery of some of the largest Canadian gold mines, e.g. the Golden Giant/Hemlo mine. • President of six mining exploration companies currently listed on the Toronto Stock Exchange. Michael Rowley, RPBio • 18 years executive experience with private companies in the mining and mineral testing industries. • Co-author of numerous mining related technical papers and two patents relating to mineral processing and mine water treatment.
  22. 22. Corporate Information Symbol: TSX.V: FRX Frankfurt: RG7A Share Structure Year Range: $0.05 - $0.14 Shares Outstanding: 38.6 million Fully Diluted: 51.7 million Share Ownership Directors, Management & Close Associates – 35% Head Office #1100 – 1199 West Hastings St. Vancouver, BC V6E 3T www.fortuneriver.ca
  23. 23. Fortune River Resource

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