Fieldex announces high grade rare earth elements on Lac Sairs property



    ROUYN-NORANDA, QC, Aug. 28 /CNW Telbec/ - Fieldex Exploration Inc. (FLX:
TSXV and F7E: Frankfurt ) is pleased to announce that during its 2007 uranium
exploration program the Company discovered high grade rare earth ("REE")
showings on its 100% Lac Sairs property in the Kipawa alcalin complex, located
100 kilometers northeast of North Bay (Ontario) within northwestern Quebec
near the Quebec-Ontario border. The property comprises 17 claim blocks with a
total area of approximately 1,002 hectares or 10 square-kilometers.

    
    ASSAY RESULTS
    in ppm (if not indicated)

    -------------------------------------------------------------------------
    Sample                                                             Light
    ID:          La      Ce       Pr       Nd      Sm      Eu     Gd    REEs
    -------------------------------------------------------------------------
    3665        190     393     43.4      157    35.9    5.81   35.6    0.09%
    -------------------------------------------------------------------------
    3666        381     849      103      375    81.5    12.7   76.0    0.19%
    -------------------------------------------------------------------------
                                                      greater
                                                         than
    3667     10,700  21,300    1,740    4,940     725     100    649    4.01%
    -------------------------------------------------------------------------
                                                      greater
                                                         than
    3668      9,534  22,900    1,830    6,010   1,110     100    955    4.23%
    -------------------------------------------------------------------------
    3669        401     700     80.3      253    40.6    6.71   35.1    0.15%
    -------------------------------------------------------------------------
    3670       68.7     148     16.3     58.8    16.0    3.13   19.7    0.03%
    -------------------------------------------------------------------------
    3671       97.1     257     35.1      137    39.4    6.80   45.6    0.06%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Sample                                                    Heavy
    ID:          Tb     Dy     Ho     Er     Tm     Yb    Lu    REEs    TREE
    -------------------------------------------------------------------------
    3665        6.6   50.1   13.3   50.2    8.9   56.3   7.3    0.02%    0.1%
    -------------------------------------------------------------------------
    3666       12.6   90.1   21.0   70.8   11.5   70.3   9.4    0.03%    0.2%
    -------------------------------------------------------------------------
    3667       76.5    447   91.3    262   34.4    167  18.0    0.11%    4.1%
    -------------------------------------------------------------------------
    3668        129    789    165    497   70.1    350  36.8    0.20%    4.4%
    -------------------------------------------------------------------------
    3669        5.4   38.8    9.3   32.1    5.2   29.4   3.2    0.01%    0.2%
    -------------------------------------------------------------------------
    3670        4.9   46.4   13.3   55.8   10.9   66.4   7.2    0.02%    0.1%
    -------------------------------------------------------------------------
    3671       10.8   94.6   24.9   96.9   16.8   95.3  10.4    0.03%    0.1%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Sample
    ID:                                                            Y      Zr
    -------------------------------------------------------------------------
    3665                                                         296   9,980
    -------------------------------------------------------------------------
    3666                                                         489   4,420
    -------------------------------------------------------------------------
    3667                                                       2,320     289
    -------------------------------------------------------------------------
    3668                                                       3,330   9,020
    -------------------------------------------------------------------------
    3669                                                         268     393
    -------------------------------------------------------------------------
    3670                                                         450     146
    -------------------------------------------------------------------------
    3671                                                         602   1,640
    -------------------------------------------------------------------------
             Analyse par Actlab ultratrace 3 certificate A06-5063
    

    Martin Dallaire stated; "We knew this area was highly prospective for
rare earth element but our focus in 2007 for this specific Lac Sairs project
was uranium. Today, the demand for Rare Earth Elements is stronger than in
2007 so our technical team will reassess the whole Lac Sairs database and
drillcore." The property occurs within the Kipawa basin in Proterozoic
Grenville Province. The basin comprised of metamorphosed and folded
sedimentary sequences that have been intruded by composite intrusive bodies.
The most important intrusive rocks on the property an alkaline intrusive
complex, which is also folded along with the sedimentary host rock. The
uranium and REE mineralization occur both along this intrusive-sedimentary
contact and within the sedimentary rocks away from the contact.
    The Lac Sairs project was initiated in 2007 based on one of several
possible geological concepts, the most attractive one being the Kipawa basin
potentially hosting the sedimentary uranium-gold deposits. Fieldex drilled 10
holes in 2007 for a total of 2,406 metres. The drill core was assayed for
Uranium but will be re assayed for REE in regards of the new information
provided by those results.

    Quality Assurance/Quality Control

    Fieldex Exploration has implemented and adheres to a strict Quality
Assurance/Quality Control program which includes mineralized standards and
blanks 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 either performed by Techni-Lab
S.G.B. Abitibi inc. in Sainte-Germaine Boulé, Quebec, or by Laboratoire Expert
Inc. in Rouyn-Noranda, Quebec, both accredited laboratories.

    Qualified Person

    The prospection and drilling program at that time was carried out under
the supervision of Laurent Hallé, geologist and qualified person as per
National Instrument 43-101.

    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.. Fieldex has 46,810,907 shares outstanding, a cash
position of $2M and an investment of 800,000 shares in Visible Gold Mines Inc.

    Forward-looking Statements

    This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the ability of Fieldex to control or predict, which could cause actual
events or results to differ materially from those anticipated in such
forward-looking statements, including risks disclosed in filings with the
Canadian securities regulators made by Fieldex. Accordingly, readers should
not place undue reliance on forward-looking statements.

    
    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.
    
    %SEDAR: 00008738E




For further information:

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

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Fieldex Exploration Inc.

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