Press Releases

Fieldex looks for nickel and discovers high grade uranium

Rouyn-Noranda, Quebec, February 26th, 2008. Fieldex Exploration Inc. (FLX :TSXV & F7E : Frankfurt ) is pleased to announce that follow-up prospecting has resulted in a high grade uranium, silver and lead discovery coincident with a prominent radiometric anomaly. The sample 3795 returns 3.64% U3O8, 29.8 grams per ton of silver and 1.47% of lead. The samples 4877 and 4879 are 7.5 kilometres apart southeast of sample 3795. The new discovery is located halfway between the Elliot Lake uranium camp and the Abitibi gold belt camp. The property comprises 80 claim blocks with a total area of approximately 4500 hectares or 45 km². In light of this discovery, Fieldex has commenced further detailed geophysical surveys and is planning one drill rig to the site for a drill program.

ASSAY RESULTS

Sample U308 (%) Pounds U308 per ton Ag (g/t) Pb (%) Mo (%)
3795 3.64 72.8 29.8 1.47 -
4877 0.170 3.4 0.8 0.092 0.083
4879 0.148 2.96 1.2 0.1 0.07

The location map is accessible on Fieldex Website at http://www.fieldexexploration.com.

The prospection work was done concomitant with a scintillometer survey, accompanied by manual trenching and spot sampling. The campaign's first finding consists of a uraninite mineralized zone and the outcrop in question shows globally elevated radiation compared to local background with a strong radiation zone.

Martin Dallaire, Fieldex president stated; “We consider these results to be very significant. The high grade surface showing, coupled with the geophysical anomaly has made this a high priority project for Fieldex.”

Quality control

Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference. Samples were analyzed using the uranium 5D-U-DNC method at the Ancaster (Ontario) Activation Laboratories Ltd. where 1.0 gram of sample is weighed into polyvials which are then enclosed and sealed in a larger polyvial and sealed. Samples are irradiated in a computer automated Delayed Neutron Counting system at the McMaster Nuclear Reactor. With this system samples are sent sequentially to the reactor core and are irradiated for a brief period. Samples are then automatically routed to a DNC counter made up of an array of 8 BF3 neutron detectors. Delayed neutrons emanating from the U235 which has fissioned are thermalized and measured. The sample is then sent to waste. Calibration is achieved with multiple certified uranium reference materials and blanks. Results are directly compared between samples and calibration.

Qualified person

Laurent Hallé P.Geo, project geologist for Fieldex Exploration Inc. is the qualified person who has reviewed the content of this news release.

About Fieldex:

Fieldex is a mineral resource company actively exploring in Quebec for nickel-copper-platinum group metal deposits located through out Northern Quebec, representing over 600 km². FNX Mining Company owns 6 500 000 shares of Fieldex Exploration Inc.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Martin Dallaire, eng
President & CEO
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

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