HENDERSON, NEVADA, Sep 09, 2011 (MARKETWIRE via COMTEX) — 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.