Correction to news release on updated Mount Klappan coal project feasibility study with lower Canadian dollar

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[{"type":"text","content":"\n\n\n\nIssued Capital: 55,550,107\n\n\nLONDON, ON, Jan. 8 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune\nMinerals" or the "Company") refers to the press release issued earlier today\nwith respect to an updated assessment of the economics for the Lost Fox\ndeposit at its 100% owned Mount Klappan anthracite coal project in northwest\nBritish Columbia. The Company has noted that the pre- and post-tax net present\nvalue (NPV) figures included in the table reflecting the updated economics at\nvarious coal price sensitivities inadvertently contained incorrect units of\nmeasurement as a result of misplacement of the decimal point. The corrected\ntable is set forth below.\n\n\n-------------------------------------------------------------------------\n UPDATED ECONOMICS AT COAL PRICE SENSITIVITIES\n-------------------------------------------------------------------------\nFOBT PRE-TAX PRE-TAX NPV AFTER-TAX AFTER-TAX NPV CASH COST/\nPRICE IRR (8%) DISCOUNT IRR (8%) DISCOUNT TONNE\n-------------------------------------------------------------------------\nUS$ 110 7.8% (C$8.2 M) 4.2% ($118.6 M) US$ 84.77\n-------------------------------------------------------------------------\nUS$ 120 14.8% C$280.3 M 10.5% $83.4 M US$ 85.17\n-------------------------------------------------------------------------\nUS$ 130 20.6% C$536.0 M 15.3% $256.1 M US$ 87.14\n-------------------------------------------------------------------------\nUS$ 140 26.0% C$789.9 M 19.9% $427.9 M US$ 88.72\n-------------------------------------------------------------------------\nUS$ 150 31.3% C$1,052.1 M 24.2% $599.3 M US$ 90.00\n-------------------------------------------------------------------------\nUS$ 175 43.6% C$1,690.0 M 33.9% $1,012.9 M US$ 93.55\n-------------------------------------------------------------------------\nUS$ 200 55.9% C$2,345.8 M 43.2% $1,436.0 M US$ 96.63\n-------------------------------------------------------------------------\nUS$ 225 67.8% C$2,990.7 M 52.1% $1,851.9 M US$ 99.94\n-------------------------------------------------------------------------\nUS$ 250 79.3% C$3,636.1 M 60.8% $2,268.2 M US$ 103.22\n-------------------------------------------------------------------------\nUS$ 275 90.7% C$4,281.1 M 69.1% $2,683.9 M US$ 106.50\n-------------------------------------------------------------------------\nUS$ 300 1...

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