  Using angle resolved photoemission spectroscopy (ARPES) we report the first
band dispersions and distinct features of the bulk Fermi surface (FS) in the
paramagnetic metallic phase of the prototypical metal-insulator transition
material V$_2$O$_3$. Along the $c$-axis we observe both an electron pocket and
a triangular hole-like FS topology, showing that both V 3$d$ $a_{1g}$ and
$e_g^{\pi}$ states contribute to the FS. These results challenge the existing
correlation-enhanced crystal field splitting theoretical explanation for the
transition mechanism and pave the way for the solution of this mystery.
