Fieldex looks for nickel and discovers high grade uranium



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    ROUYN-NORANDA, QC, Feb. 26 /CNW Telbec/ - 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

                      U308   Pounds U308          Ag          Pb          Mo
    Sample              (%)      per ton        (g/t)         (%)         (%)

    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.
    %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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