ROUYN-NORANDA, QC, Dec. 12, 2012 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has been served with a motion instituting legal
proceedings against Fieldex before the Québec Superior Court, pursuant
to which the claimant is seeking damages from Fieldex in an amount of
$5.5 million. The claim relates to an agreement dated October 22, 2010
for the acquisition by Fieldex of 232 mining claims located in the
Kipawa area. The agreement was terminated by Fieldex in October 2011.
Fieldex believes that the legal proceedings are entirely without merit
and will vigorously contest them. Fieldex will file its defense in due
The mining claims subject to the 2010 agreement are not part of
Fieldex's Lac Sairs flagship project located in the Kipawa alcalin
complex, 1.7 km from Matamec Explorations Inc.'s Kipawa rare earth
element-yttrium-zirconium deposit, located 100 kilometres northeast of
North Bay, Ontario, in northwestern Québec, near the Québec-Ontario
Fieldex is a mineral resource company actively exploring for base and
strategic group metal deposits located throughout Canada, representing
an area of interest over 600 km².
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 the release.
SOURCE: FIELDEX EXPLORATION INC.
For further information:
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097