Faircourt Resource Fund Limited Partnership - Results of Special Redemption
Privilege

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, April 29 /CNW/ - Faircourt Asset Management Inc., as General Partner (or Manager) of Faircourt Resource Fund Limited Partnership (the "Fund"), is pleased to announce that Unitholders who tendered Units for Redemption under the Special Redemption Privilege as outlined in the Notice and press release dated March 26, 2010 will be honoured in full.

The Net Asset Value per Unit tendered for the Redemption is $7.258 as calculated at the close of business, Monday April 26, 2010. Unitholders who elected to exchange their Units for units of Faircourt Exploration Flow Through 2010 Limited Partnership will have units processed for the initial closing of the fund, scheduled to take place on or about May 20, 2010. Unitholders who elected to receive the cash option will receive payment on or before the fifteenth business day following the Redemption Date (the "Redemption Payment Date").

A preliminary prospectus containing important information relating to units of Faircourt Exploration Flow-Through 2010 Limited Partnership has been filed with securities commissions or similar authorities in each of the provinces of Canada, except for Quebec. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Len Sauer, Canaccord Financial Ltd., Telephone: 416-869-7398 or email: len.sauer@canaccordadams.com. There will not be any sale or any acceptance of an offer to buy units of Faircourt Exploration Flow-Through 2010 Limited Partnership until a receipt for the final prospectus has been issued.

%SEDAR: 00028679E

SOURCE Faircourt Asset Management Inc.

For further information: For further information: Mr. Charles Taerk, President or Mr. Douglas Waterson, Chief Financial Officer, Faircourt Asset Management Inc. at 1-800-831-0304

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Faircourt Asset Management Inc.

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FAIRCOURT EXPLORATION FLOW THROUGH 2010 LIMITED PARTNERSHIP

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