Fieldex Exploration - Press Releases

FIELDEX EXPLORATION ANNOUNCES SECOND CLOSING OF PRIVATE PLACEMENT

Fri, 30 Dec 2011 09:11:41 -0400

Rouyn-Noranda, Québec, Canada, December 29, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has held a second and final closing of its previously-announced private placement by issuing 2,400,000 additional "flow-through" units at a price of $0.125 per unit, for gross proceeds to Fieldex of $300,000. Fieldex issued the "flow-through" units to "accredited investors" in Ontario and Québec, and will use the proceeds for its exploration program on its properties in Québec.

As a result of the second closing, Fieldex raised total proceeds of $935,875 in the private placement.

Each of the 2,400,000 "flow-through" units issued at the second closing is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles its holder to acquire one additional common share of Fieldex at a price of $0.18 for 18 months.

Industrial Alliance Securities Inc. acted as agent for the private placement on a best-efforts basis. In connection with the second closing of the private placement, Fieldex paid Industrial Alliance Securities a cash commission of $25,500 and issued "broker warrants" to Industrial Alliance Securities and to an exempt market dealer, entitling them to purchase up to an aggregate of 120,000 common shares of Fieldex for a period of 18 months at a price of $0.10 per share.

The securities issued by Fieldex at the second closing of the private placement are subject to a four-month "hold period" ending on April 30, 2012 under applicable securities legislation.

Following the second closing of the private placement, there are 68,109,018 common shares of Fieldex issued and outstanding.

About Fieldex
Fieldex is a mineral exploration company actively exploring in Quebec for base and strategic group metal deposits, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex.

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

- 30 -

FIELDEX EXPLORATION COMPLETES NICOBI AND MOLY DRILLING AND STARTS DRILLING AT ITS KIPAWA LAC SAIRS PROPERTY

Thu, 15 Dec 2011 12:21:31 -0400

FIELDEX EXPLORATION COMPLETES NICOBI AND MOLY DRILLING AND STARTS DRILLING AT ITS KIPAWA LAC SAIRS PROPERTY

Rouyn-Noranda, Québec, Canada, December 13, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce that it has completed the Nicobi and Moly drilling programs in Chapais and is starting its 2011 phase 2 drilling program on its Heavy Rare Earth project in the Kipawa region, which is located less than 1,000 meters from Matamec Explorations' Zeus deposit.

"The memorandum of understanding signed yesterday between Matamec Explorations Inc. and Toyota Tsusho Corp brings credibility in this heavy rare earth basin. Fieldex is very active in the Kipawa region, we drilled from 2009 to 2011 over 8,780 metres and we expect to hit 10,000 metres in the coming weeks" stated Martin Dallaire, President and Chief Executive Officer of Fieldex.

The first six holes totalling 950 metres were drilled on the western extension of the Lac Sairs Kipawa Property, about 1.7 kilometres from the Matamec's Kipawa rare-earth-elements-yt trium-zirconium deposit. These holes will enable Fieldex to collect more information about the previous and successful drilling campaign, especially the diamond drill hole LS-10-19 (see news release dated October 25, 2010). The additional nine holes totalling approximately 1,300 metres were drilled on the eastern extension of the Lac Sairs Kipawa Property, where many REE surface rock samples were collected during previous exploration campaigns. The remaining seven holes will be drilled on the west side of the Lac Sairs Kipawa Property. Fieldex is waiting for assay results from the Laboratory for the first 15 holes drilled on the property. (see diamond drill hole's location map:
http://fieldexexploration.com/images/property/3_LacSairsAvril2011DdhProgram.pdf)

Nicobi Copper project

A 1,500 metres drilling campaign has been completed over an area labelled as zone 2. The zone 2 includes four trenches dug along conductors where host rocks and quartz veins alteration contains sericite, chlorite, muscovite, graphite and azurite. Disseminated to semi-massive sulphides such as pyrite, pyrrhotite, chalcopyrite and bornite can be observed within host rocks and quartz veins. Historic grab samples and channel samplings from these trenches returned values grading up to 2.24% Cur and 13.6g/t Ag. Fieldex recent due diligence grab samples from these trenches returned values up to 2.78% Cu and 10.9 g/t Ag. Fieldex is waiting for assay results.

Moly-Desgagné

A 640 metres drilling campaign totalling 5 holes has been completed surrounding the main molybdenite showing over the last three weeks. The molydenite showing exhibits a shear zone which contains sericite, chlorite, muscovite, pyrite and molydenite of 1.0 to 2.5 metres wide. The zone surrounds a fine-grained, sugary, whitish quartz showing concentrations of disseminated and stringers of millimetric grain-sized molydenite. Laboratory certificates indicate historical values from rock and saw samplings grading up to 7.95% molybdenum along a length of 30 centimetres. However, all these historical values have not yet been verified by Fieldex under the standard of National Instrument 43-101. Fieldex is waiting for assay results.

This news release was written by Mr. Dallaire, P.Eng, President and Chief Executive Officer of Fieldex., and the exploration program is carried out under the supervision of Robert Sansfacon, geologist, and qualified person as per National Instrument 43-101.

About Fieldex
Fieldex is a mineral exploration company actively exploring in Quebec for base and strategic group metal deposits, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex.

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

- 30 -

FIELDEX EXPLORATION ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT

Mon, 12 Dec 2011 10:50:23 -0400

FIELDEX EXPLORATION ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT

Rouyn-Noranda, Québec, Canada, December 12, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has held a first closing of its previously-announced private placement by issuing 5,087,000 "flow-through" units at a price of $0.125 per unit, for gross proceeds to Fieldex of $635,875. Fieldex issued the "flow-through" units to "accredited investors" in Ontario and Québec.

Each of the 5,087,000 "flow-through" units is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles its holder to acquire one additional common share of Fieldex at a price of $0.18 for 18 months.

Fieldex will use the proceeds from the issuance of the "flow-through" units for its exploration program on its properties in Québec.

Industrial Alliance Securities Inc. is acting as agent for the private placement on a best-efforts basis. At the first closing of the private placement, Fieldex paid Industrial Alliance Securities a cash commission of $54,049 and issued "broker warrants" to Industrial Alliance Securities and to an exempt market dealer, entitling them to purchase up to an aggregate of 254,350 common shares of Fieldex for a period of 18 months at a price of $0.10 per share.

The securities issued by Fieldex pursuant to the private placement are subject to a four-month "hold period" ending on April 10, 2012 under applicable securities legislation.

Following the first closing of the private placement, there are 65,259,018 common shares of Fieldex issued and outstanding.

About Fieldex
Fieldex is a mineral exploration company actively exploring in Quebec for base and strategic group metal deposits, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex.

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX OPTIONS NICOBI COPPER PROJECT IN QUEBEC

Thu, 24 Nov 2011 15:05:27 -0400

Rouyn-Noranda, Québec, Canada, November 24, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce that it has entered into an option agreement with prospector Larry Desgagné to acquire a 100% interest in 90 mining claims comprising the Nicobi Property covering more than 5,040 hectares (50.40 sq. km) located in the Abitibi greenstone belt about 25 kilometres south of Desmaraisville, Quebec.

The Nicobi property
The Nicobi property lithogies include sedimentary rocks, graphitic schists, felsic and mafic volcanic rocks as well as intrusions of the Archean Abitibi Greenstone Belt. Prior to the Nicobi acquisition, Fieldex, with the permission of the vendor, executed geophysics tests to evaluate the continuity of the main showing. HLEM (Maxmin II) plus Induced Polarization works conducted on the east part of the Nicobi property outlined sub-parallel high-chargeability strong conductors. These two strong anomalies repeats on all 5 test lines over a total east-west extension of 1400 meters. The due diligence results convinced Fieldex management to sign the option agreement.

A 1,500 m drilling campaign has been planned over an area labelled Zone 2. The zone 2 includes four trenches dug along conductors where host rocks and quartz veins alteration contains sericite, chlorite, muscovite, graphite and azurite. Disseminated to semi-massive sulphides such as pyrite, pyrrhotite, chalcopyrite and bornite can be observed within host rocks and quartz veins. Historic grab samples and channel samplings from these trenches returned values grading up to 2,24% Cu and 13,6 g/t Ag. Fieldex recent due diligence grab samples from these trenches returned values up to 2,78% Cu and 10,9 g/t Ag.

Fieldex 1,500 m drilling program will be initiated in the coming days to test the Zone 2 conductors.

The terms of the agreement

Pursuant to the terms of the agreement, Fieldex has an option to earn an undivided 100% interest in the property by making cash and share payments, and incurring exploration expenditures over a 36-month period from the proposed closing date. In order to earn a 100% interest, Fieldex must:

On the closing date, make a cash payment of $30,000 and issue 450,000 common shares to Mr. Desgagné.
On or before the first anniversary of the closing date, make a cash payment of $30,000 and issue 400,000 common shares to Mr. Desgagné.
On or before the second anniversary of the closing date, make a cash payment of $30,000 and issue 400,000 common shares to Mr. Desgagné.
On or before the third anniversary of the closing date, make a cash payment of $30,000 and issue 400,000 common shares to Mr. Desgagné.

In total, in order to earn a 100% interest, Fieldex must pay $120,000 and issue 1,650,000 common shares to Mr. Desgagné.

The property is subject to a 1% royalty in favor of Mr. Desgagné. Fieldex can acquire this royalty from Mr. Desgagné for a cash payment of $1,000,000.

The option agreement is subject to regulatory approval, including that of the TSX Venture Exchange.

Qualified Person

The exploration program is carried out under the supervision of Robert Sansfaçon, geologist and qualified person as per National Instrument 43-101.

This news release was written by Martin Dallaire, P.Eng., president and chief executive officer of Fieldex in his capacity as a qualified person under NI 43-101.

About Fieldex:

Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits in Abitibi-Temiscamingue. Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 60,172,018 shares outstanding.

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX EXPLORATION ANNOUNCES MAXIMUM $2 MILLION PRIVATE PLACEMENT

Mon, 21 Nov 2011 12:15:41 -0400

FIELDEX EXPLORATION ANNOUNCES MAXIMUM $2 MILLION PRIVATE PLACEMENT

Rouyn-Noranda, Québec, Canada, November 21, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has entered into an engagement letter with Industrial Alliance Securities Inc. for a best-efforts private placement of "flow-through" units and non-"flow-through" units in a maximum amount of $2 million.

Under the private placement, Fieldex will issue a maximum of 12,000,000 "flow-through" units at a price of $0.125 per unit, for maximum gross proceeds to Fieldex of $1.5 million. Each "flow-through" unit will be comprised of one "flow-through" common share and one-half of a common share purchase warrant. Each whole warrant will entitle its holder to acquire one additional common share of Fieldex at a price of $0.18 per share for 18 months from the date of issuance.

Fieldex will also issue a maximum of 5,000,000 non-"flow-through" units at a price of $0.10 per unit, for maximum gross proceeds to Fieldex of $500,000. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle its holder to acquire one additional common share of Fieldex at a price of $0.18 per share for 18 months from the date of issuance.

Fieldex will use the gross proceeds from the issuance of the "flow-through" units for exploration on its properties in Québec and the net proceeds from the issuance of the units for working capital and general corporate purposes.

Fieldex will grant an over-allotment option to Industrial Alliance Securities, which may be exercised for 30 days following the closing of the private placement, pursuant to which Industrial Alliance Securities will have the right to sell additional "flow-through" units and/or units in a maximum amount equal to 15% of the number of "flow-through" units and units sold in the private placement, respectively. If the over-allotment option is exercised in full, Fieldex will raise gross proceeds of $2,300,000 from the private placement.

In connection with the private placement, Fieldex will pay a cash commission to Industrial Alliance Securities in an amount equal to 8.5% of the gross proceeds. Fieldex will also issue compensation options to Industrial Alliance Securities, entitling it to purchase, for a period of 18 months from the date of issuance, at the offering price, a number of additional common shares equal to 5% of the total number of flow-through units and units sold in the private placement.

The initial closing of the private placement is expected to take place on or about November 29, 2011. The private placement is subject to customary closing conditions, including the signing of an agency agreement between Fieldex and Industrial Alliance Securities, and regulatory approval, including that of the TSX Venture Exchange.

About Fieldex

Fieldex is a mineral exploration company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex. Fieldex has 60,172,018 shares outstanding.

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

- 30 -

FIELDEX DRILLS 84 METRES 0.20% NICKEL AT GABOURY AND COMPLETES HOLE NO.15 AT KIPAWA

Thu, 15 Sep 2011 12:42:51 -0400

FIELDEX DRILLS 84 METRES 0.20% NICKEL AT GABOURY AND COMPLETES HOLE NO.15 AT KIPAWA

Rouyn-Noranda, Québec, Canada, September 15, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce the results of its recently-completed 2,725 metre drilling campaign on Fieldex's 100%-owned Gaboury nickel project located 120 km east of Kirkland Lake, Ontario. The property is comprised of 83 claims totalling more than 3,508 hectares (35 sq.km).

DDH no.	East	North	Dip(°)	Depth (m)	From (m)	To (m)	Int (m)	Ni (%)	Ag (g/t)
GA-10-01	644690	5243139	-50	232	36.8	118.5	81.7	0.20	n/a
GA-10-02	644800	5243025	-50	173	117	132	15.0	0.20	n/a
GA-10-02	644800	5243025	-50	173	151.29	168	16.7	0.20	2.2
GA-10-03	645323	5243292	-50	318	-	-	-	tr	n/a
GA-10-04	645250	5243115	-50	216	-	-	-	tr	n/a
GA-10-05	644695	5243155	-50	201	-	-	-	tr	n/a
GA-11-06	644505	5243090	-56	774	190.5	274.5	84.0	0.20	1.1
GA-11-07	644325	5243200	-51	360	58.4	66.0	7.6	0.18	n/a
GA-11-08	644590	5242980	-59	450	-	-	-	waiting assays	-

True width not known

The Gaboury property is situated within the Ville-Marie – Belleterre archean volcano - sedimentary Belt, south of the Abitibi Greenstone Belt. The nickel values of the drilled holes are located within serpentinized peridotites / ultramafites and amphibolitized basalts / gabbros which are often brecciated and which are also altered by chlorite, sericite and carbonates. Visible mineralization consists mainly of <1% to 3% small grained – size pyrite – pyrrhotite – magnetite, disseminated and also observed in millimetric clusters. An electromagnetic borehole InfiniTEM survey was carried out in hole GA-11-06 to detect massive sulphide in the surrounding area. The InfiniTEM survey generated a moderated-type anomaly on the east side of hole GA-11-06. Fieldex drilled the anomaly with hole GA-11-08 and is now waiting for the assays. The distance between Hole GA-10-01 and GA-10-06 is 180 metres. GA-10-03 to 10-05 intersected only traces of mineralization but were not located in the main zone and were drilled to test a structural model.

Martin Dallaire, President and Chief Executive Officer of Fieldex, stated: "We are extremely pleased with the results provided by this grassroots project. We are moving it up on our priority list".

FIELDEX COMPLETES HOLE NO.15 OUT OF 22 HOLES IN KIPAWA

The first six holes totalling 950 metres were drilled on the western extension of the property, about 1.7 km from the Matamec Explorations Inc. Kipawa REE-Yttrium-Zirconium deposit. These holes will enable Fieldex to collect more information about the previous and successful drilling campaign, especially diamond drill hole LS-10-19 (Stockwatch October 25, 2010, Fieldex drills 61.7 meters at 1.5% ZrO2). The additional nine holes totalling 1,300 metres were drilled on the eastern extension of the property where many REE surface rock samples were collected during previous exploration campaigns. The remaining seven holes are planned on the west side of the property. Fieldex is waiting for assay results for the first 15 holes.

Quality Assurance / Quality Control
Fieldex has implemented and adheres to a strict Quality Assurance/Quality Control program which includes one REE mineralized standard, one duplicate and one blank for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are performed by ALS Chemex, Val-d'Or, an accredited laboratory.

Qualified Person
The exploration program is carried out under the supervision of Robert Sansfaçon, geologist and qualified person as per National Instrument 43-101.

About Fieldex
Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 60,172,018 shares outstanding.

- 30 -

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX EXPLORATION ANNOUNCES EXTENSION OF WARRANT TERM AND AMENDMENT TO ITS STOCK OPTION PLAN

Wed, 07 Sep 2011 16:16:17 -0400

Rouyn-Noranda, Québec, Canada, September 7, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has applied to the TSX Venture Exchange for a one-year extension of the term of 5,555,555 common share purchase warrants that were issued by Fieldex as part of a private placement that closed in October 2009. Each warrant currently entitles its holder to purchase one additional common share of Fieldex at an exercise price of $0.23 until October 29, 2011.

Subject to the approval of the TSX Venture Exchange, the term of the warrants will be extended to October 29, 2012, for a total term of three years. Fieldex issued a total of 5,555,555 warrants in the October 2009 private placement, none of which have been exercised.

Fieldex also announces that it has amended its Stock Option Plan so as to extend the maximum period during which an option is exercisable to ten years from the date the option is granted, as well as certain housekeeping amendments to ensure that the plan is consistent with TSX Venture Exchange Policy 4.4 and the withholding and remittance requirements set out in the Income Tax Act (Canada). The foregoing amendments are subject to the final approval of the TSX Venture Exchange.

About Fieldex:

Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. and Fieldex has 60,172,018 shares outstanding.

-30-

For more information, please contact:

Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097

mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX ANNOUNCES RESULTS OF ITS ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Fri, 15 Jul 2011 11:58:51 -0400

Rouyn-Noranda, Québec, Canada, July 15, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce the results of its annual and special meeting of shareholders held on June 27, 2011 in Rouyn-Noranda, Québec. At the meeting, shareholders elected Martin Dallaire, Sylvain Champagne, Donald Lacasse (Radisson Mining), Gord Morrison (QUADRA FNX Mining) and Jean-Pierre Landry as members of the Board of Directors of Fieldex. The shareholders also re-appointed Dallaire & Lapointe inc., Chartered Accountants, as the auditors of Fieldex. At the meeting, shareholders also approved a resolution ratifying and confirming Fieldex's amended stock option plan.

Fieldex also announces that following the shareholders' meeting, the Board of Directors appointed Martin Dallaire as the chairman of the Board of Directors, President and Chief Executive Officer of Fieldex and Sylvain Champagne as Secretary and Chief Financial Officer.

Fieldex's Board of Directors also granted an aggregate of 1,550,000 stock options to Fieldex's five directors and one consultant. The exercise price of the options is $0.12 and the options expire on July 14, 2021. The options were granted pursuant to Fieldex's amended stock option plan which grants remain subject to the approval of the TSX Venture Exchange.

About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 60,172,018 shares outstanding and a working capital of $1.2M including an investment of 800,000 shares in Visible Gold Mines Inc.

-30-

For more information, please contact:
Martin Dallaire, eng
President & Chief Executive Officer Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX TO START DRILLING THE KIPAWA LAC SAIRS PROPERTY FOR RARE EARTH ELEMENTS AND ZIRCONIUM

Tue, 19 Apr 2011 13:34:18 -0400

Rouyn-Noranda, Québec, Canada, April 19, 2011. Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce that it has filed a permit application to mobilize a drill rig on its 100%-owned Lac Sairs property, located 100 kilometres northeast of North Bay, Ontario, within northwestern Québec, near the Québec-Ontario border. The Lac Sairs property is located in the Kipawa alcalin complex, 1.7 km from the Matamec Explorations Inc. Kipawa REE-Yttrium-Zirconium deposit.

The phase 3 spring 2011 drilling program, totaling approximately 2,000 metres is aimed at finding and defining the extension of the hole LS-10-19 that has returned 1.51% ZrO2 over 62 metres during the September 2010 phase 2 drilling program (see Fieldex’s press release October 25, 2010) and to test numerous targets identified by prospecting and ground geophysical surveys.

Quality Assurance / Quality Control
Fieldex has implemented and adheres to a strict Quality Assurance/Quality Control program which includes one REE mineralized standard, one duplicate and one blank for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are performed by ALS Chemex, Val-d’Or, an accredited laboratory.

Qualified Person
The content of this press release was prepared under the supervision of Robert Sansfaçon, geologist and qualified person as per National Instrument 43-101.

About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 60,122,018 shares outstanding and a working capital of $2M including an investment of 800,000 shares in Visible Gold Mines Inc.

-30-

For more information, please contact:
Martin Dallaire, eng,
President & Chief Executive Officer
Tel.: (819) 762-0609, Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com

FIELDEX STARTS WORKS IN KIPAWA AND OPTIONS MOLYBDENUM LAND

Mon, 14 Feb 2011 16:07:12 -0400

Rouyn-Noranda, Québec, Canada, February 14^th, 2011 - Fieldex Exploration Inc. (FLX :TSXV and F7E : Frankfurt) is pleased to announce that it has entered into an option agreement with Mr. Larry Desgagné to acquire a 100% interest in 76 mining claims comprising the Desgagné-Moly Property covering more than 3,365 hectares (33.65 sq. km) in the Chapais region.

Martin Dallaire, President and Chief Executive Officer of Fieldex, stated: "Although our focus is in Kipawa at the moment, Fieldex's geological team is extremely happy with this option agreement. In our view, the Chapais area contains considerable potential for molybdenum and other strategic metals."

Geological setting of the moly-showing
The molydenite showing exhibits a shear zone which contains sericite, chlorite, muscovite, pyrite and molydenite of 1.0 to 2.5 metres wide. The zone surrounds a fine-grained, sugary whitish quartz showing concentrations of disseminated and stringers of millimetric grained size molydenite. Laboratory certificates indicate historical values from rock and saw samplings grading up to 7, 95 % Mo along a length of 30 cm. However, all these historical values are not yet re-verified under the complete norms of Canadian NI 43-101 by Fieldex Exploration Inc.

The terms of the agreement
Pursuant to the terms of the agreement, Fieldex has an option to earn an undivided 100% interest in the property by making cash and share payments, and incurring exploration expenditures over a 36-month period from the proposed closing date. In order to earn a 100% interest, Fieldex must:

On the closing date, make a cash payment of $25,000 and issue 50,000 common shares to Mr. Desgagné.
On or before the first anniversary of the closing date, make a cash payment of $25,000 and issue 75,000 common shares to Mr. Desgagné, and incur $25,000 in exploration expenditures on the property.
On or before the second anniversary of the closing date, make a cash payment of $30,000 and issue 75,000 common shares to Mr. Desgagné, and incur $50,000 in additional exploration expenditures on the property.
On or before the third anniversary of the closing date, make a cash payment of $30,000 and issue 100,000 common shares to Mr. Desgagné, and incur $75,000 in additional exploration expenditures on the property.

In total, in order to earn a 100% interest, Fieldex must pay $110,000 and issue 300,000 common shares to Mr. Desgagné, and incurs $150,000 in exploration expenditures on the property.

The property is subject to a 1.5% royalty in favour of Mr. Desgagné. Fieldex can acquire 1% of the royalty from Mr. Desgagné for a cash payment of $500,000. Mr. Desgagné has the option to require Fieldex to purchase the remaining 0.5% royalty for a cash payment of $500,000. Fieldex was also granted until June 28, 2011, a right of first refusal to purchase from Mr. Desgagné the Nicobi property.

The option agreement is subject to regulatory approval, including that of the TSX Venture Exchange.

Molybdenum usage
Molybdenum (Mo) is a metallic element used principally as an alloying agent for steel, cast iron, and super alloys. Its usage allows the metals to be successfully resistant to high stress, expanded temperature ranges, and highly corrosive environments. Furthermore, molybdenum finds significant usage as a refractory metal in numerous chemical applications, including catalysts, lubricants, and pigments.[i] The molybdenum oxide price is actually worth $17.60 per pound compare to $4.60 per pound for the copper (www.kitcometals.com).

Employed in buildings and bridges, pipes and power plants, cars and computers, paints and plastics, it is also a key element in the construction of desalination plants, a technology used to purifying drinking water. According to a note of the metals and mining team at Desjardins Securities sent to its clients in 2010 "as the usage of desalination plants becomes an increasingly common practice, molybdenum demand from the stainless steel sector can only increase".[ii]

FIELDEX STARTS GEOPHYSICAL WORK IN KIPAWA ON ITS REE LAC SAIRS PROPERTY
Fieldex Exploration is also pleased to announce the start of geophysical work on the north portion of the Kipawa Lac Sairs property located in the Kipawa alcalin complex, 1.7 km from the Matamec Explorations Inc. Kipawa REE-Yttrium-Zirconium deposit, 100 kilometres northeast of North Bay, Ontario, within northwestern Quebec, near the Quebec-Ontario border. This work will consist of ground magnetometriq survey of 66.7 line-km. The survey will be conducted by Telos Geoservices. This work will enable Fieldex to collect more information about the previous and successful drilling campaign especially diamond drill hole LS-10-19 (Stockwatch 2010 october 25, Fieldex drills 61.7 meters at 1.5% ZrO2). A drilling campaign on the property will immediately follow the geophysical work.

Qualified Person
The exploration program is carried out under the supervision of Robert Sansfaçon, geologist and qualified person as per National Instrument 43-101.

About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 60,122,018 shares outstanding, a cash position of $1M and an investment of 800,000 shares in Visible Gold Mines Inc.

- 30 -

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