Mr. Merlin Marr-Johnson reports

FITZROY MINERALS ANNOUNCES GRANT OF STOCK OPTIONS

Fitzroy Minerals Inc. has granted 5.9 million stock options to purchase up to 5.9 million common shares of the company to certain directors, officers and consultants of the company under the company's stock option plan.

The options are exercisable at the price of 35 cents per common share until July 11, 2030, subject to any earlier termination in accordance with the plan. All options vested immediately on the date of grant. All options and the common shares underlying such options are subject to a hold period of four months and one day from the date of issuance. The grant of options to certain directors and officers constitutes a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the grant of options to related parties in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively, as the company is not listed on a specified market and the fair market value of the options does not exceed 25 per cent of the company's market capitalization.

About Fitzroy Minerals Inc.

Fitzroy Minerals is focused on exploring and developing mineral assets with substantial upside potential in the Americas. The company's current property portfolio includes the Caballos copper and Polimet gold-copper-silver projects located in Valparaiso, Chile, and the Taquetren gold project located in Rio Negro, Argentina, as well as the Caribou project in British Columbia, Canada. Fitzroy Minerals' shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF.