Press Releases

Fieldex starts drilling on Midrim copper nickel property

Fieldex Exploration Inc. (FLX :TSXV and F7E : Frankfurt ) is pleased to inform its shareholders that the 10-hole drilling program on the Lac Sairs property has been completed and that Fieldex is starting a 17-hole drilling program on its advanced-stage Midrim property in western Québec today.

On May 2, 2007, Fieldex acquired a 70% interest in the Midrim property from FNX Mining Company and now fully-owns the property.

Martin Dallaire, president and chief executive officer of Fieldex, stated: “This 17-hole drilling program will be very exciting. The Midrim deposit contains high grade zones and the goal of this drilling program is to better define and expand them.”

Results from the initial phase of diamond drilling on the Midrim property are summarized below (ref. 43-101 Midrim Property, Richard J. Mazur, April 17, 2002).

Hole No.
FromToIntervalPtPdPt + PdCuNiCo
 (m)(m)(m)g/tg/tg/t%%%
MR-00-01
8.3935.1926.800.751.402.152.321.450.06
Including
15.5035.1919.690.971.772.742.991.850.07
MR-00-05
28.2269.6041.380.672.142.811.921.810.06
Including
57.1569.6012.451.002.803.802.722.720.07
MR-01-17
0.0019.3519.350.391.151.541.291.330.04
MR-01-25
49.9857.007.020.621.762.381.581.450.04
 64.2778.2714.000.802.203.002.221.840.05
MR-01-28
54.5060.005.500.541.702.241.251.580.05
MR-01-29
3.0036.4533.450.401.251.651.420.980.04
Including
17.6036.4518.850.551.882.432.111.490.05
MR-01-30
10.9018.007.100.661.862.522.151.060.04
MR-01-37
46.0052.606.600.761.892.653.644.290.09
Including
49.0052.603.600.702.683.386.307.260.12
MR-01-38
42.9856.0013.020.782.142.922.521.370.06
MR-01-53
111.00117.706.700.531.902.431.561.100.10
MR-01-55
39.0045.006.000.451.401.851.341.060.04

Holes MR00-01 and MR00-05 intersected disseminated and massive sulphides with high-grade copper-nickel and platinum-palladium values. Intersections in Hole MR00-01 included 19.7 metres (64.6 feet) grading 2.99% copper, 1.85% nickel, 0.07% cobalt, 0.97 grams/tonne platinum, 1.77 grams/tonne palladium and 0.48 grams/tonne gold. High-grade intersections in Hole MR00-05 included 10.35 metres (34 feet) grading 2.88% copper, 3.52% nickel, 0.10% cobalt, 0.59 grams /tonne platinum, 3.36 grams/tonne palladium and 0.23 grams/tonne gold. Another 6.3 metre (20.7 feet) section assayed 4.74% copper, 4.94% nickel, 0.11% cobalt, 1.24 grams/tonne platinum, 4.71 grams/tonne palladium and 0.17 grams/tonne gold.

At Midrim, mineralization typically consists of a number of gabbroic sills with disseminated sulphides in the upper parts of the sills followed by massive sulphide accumulations along the basal part of the sills. The massive sulphides are comprised mainly of chalcopyrite, pyrrhotite, violarite, pentlandite and pyrite. Native gold and platinum/palladium minerals have also been identified in the sulphides.

The Midrim Zone represents one of several outcropping nickel-copper-platinum-palladium mineralized areas within the Company’s Midrim-Temiscamingue Project Area. Mineralization is hosted by magnetite-rich gabbroic and subordinate ultramafic rocks. However, much of the Midrim-Temisamingue area is covered by overburden and outcrop is scarce.

The Lac Sairs results will be communicated as soon as available

The Temiscamingue projects are being supervised by Laurent Hallé P.Geo, the qualified person for these projects.