Gold Exploration in West Africa

[FL]

NEW: Fundy Minerals (OFEX:FUN): gold in Liberian diamond property

[ Note: Fundy Minerals Ltd. is listed on the British OFEX Exchange for smaller companies, with symbol FUN. It is a New Brunswick Co. with mostly Canadian properties and its Liberian property is a diamonds property. But see the folllowing re gold. To get a quote on Fundy, go to:

http://www.ofex.com/cgi-bin/a2z.cgi?action=a2z&a2z=F

Fundy's homepage is at http://www.fundyminerals.com/

The Fundy Liberia property is involved in the Merrex - High River deal announced today which I'll post next. FL ]

Fundy Minerals Ltd - LIBERIAN GOLD ASSAY RESULTS

FOR IMMEDIATE RELEASE 3 MAY 2006

FUNDY MINERALS LIMITED
(OFEX: FUN)

LIBERIAN GOLD ASSAY RESULTS

The Board of Fundy Minerals Ltd ("Fundy" or "the Company"), the Canadian and West African exploration company, is pleased to announce results of assays from its Liberian activities on its Cestos Sehnkwen permit area.

The Company has been actively exploring and sampling in its previously announced diamondiferous areas. In parallel to its diamond reconnaissance, the Company has conducted recent sampling for gold assays, as field geologists have noted gold occurrences outcropping and in stream sediments.

Analysis was carried out by Alex Stewart Assayers OMAC laboratory in Ireland using the fire assay technique. Results in 62 stream sediment and soil regolith samples demonstrated trace gold occurrences with a number of samples showing anomalous values ranging from 254 ppb Au to a high of 1166 ppb Au.

Project Geologist Peter Ballah commented "OUR FIELD TEAM LED BY MYSELF, HAS MADE MANY OBSERVATIONS OF VISIBLE GOLD IN JIGGED CONCENTRATES, AS WELL AS A FEW OUTCROPPINGS. THE AREA IS THICK COVER REGOLITH HOWEVER THESE ENCOURAGING ANOMALIES WILL BE RE-VISITED AND A BROADER SAMPLING PROGRAM BE CONDUCTED. WE HAVE FURTHER SAMPLES BEING DRIED AND SIEVED FOR ANALYSIS BY ALEX STEWART ASSAYERS SHORTLY."

Fundy Chairman and CEO, Jeff Michel, added: "OUR FOCUS HAS BEEN AROUND THE ARTISAN DIAMOND DISCOVERIES AND SAMPLING DRAINAGES TO DETERMINE THE KIMBERLITIC SOURCE, HOWEVER WE HAVE ALSO NOTED THE PRESENCE OF THE TODI SHEAR BELT IN THE AREA WHICH HAS A HISTORY OF MINERALIZATION. THE ANOMALIES ARE A TREMENDOUS ADDITION TO OUR ALREADY EXCITING DIAMOND WORK. FURTHER WORK WILL BE CARRIED OUT TO EXPAND THE EXPLORATION OF GOLD BEARING HOSTS."

Scientific or technical information relating to Fundy's activity is based on direct supervision of, or has been reviewed by, Ken Whaley, PGeo., member of Fundy's Board of Advisors.


The Directors of the Issuer accept responsibility for this announcement.

--ENDS--

ENQUIRIES:

BISHOPSGATE COMMUNICATIONS LTD. TEL: [phone]
Maxine Barnes
Nick Rome

ST HELEN'S CAPITAL PLC TEL: [phone]
Barry Hocken

FUNDY MINERALS LTD TEL: [phone]
Jeff Michel, Chairman / CEO
EMAIL: [e-mail]


NOTES TO EDITORS:

Fundy was incorporated on 17 March 2004 by founders who have more than 50 years combined geological experience, and is based in New Brunswick (Canada). The Company is actively involved in the exploration of gold, diamond and base metals in Canada and Africa, and the development of technology in mineral and metal extraction.

The Company has a 100 per cent interest in 123 claims on eight mineral exploration and development properties in the Province of New Brunswick.
Each of these Prospects warranted bona fide exploration advancement that Fundy undertook in the 2004 field season, re-affirming the past historical exploration results, and generated encouraging confirmation of mineralized zones on each Prospect and strong assay results. Additionally the Company plans to place a high-grade limestone deposit in northern New Brunswick, into production later this year.

Fundy holds a permit for 2000 square kilometres of land in Liberia, West Africa, where it has been confirmed a significant quantity alluvial diamonds have been extracted. Fundy continues to explore for its Kimberlitic source.