Fieldex engages PowerOne Capital Markets for private placement of up to $3.25 million

    ROUYN-NORANDA, QC, June 27 /CNW Telbec/ - Fieldex Exploration Inc.
(FLX-TSXV AND F7E-FSE) is pleased to announce that it has engaged PowerOne
Capital Markets Limited of Toronto, Ontario as its exclusive agent for a
best-efforts private placement of a maximum of 5,000,000 units of Fieldex at a
price of $0.65 per unit, for maximum gross proceeds to Fieldex of up to
$3.25 million. Each unit will consist of one common share and one common share
purchase warrant. Each warrant will entitle the holder thereof to acquire one
additional common share at a price of $0.80 for a period of two years from the
closing of the private placement.
    The units will be sold to "accredited investors" in Québec, Ontario,
Alberta and British Columbia on a prospectus-exempt basis. Closing of the
private placement is expected to occur on or about July 12, 2007.
    The gross proceeds from the private placement will be used by Fieldex for
its exploration program on its properties located in Quebec and for working
capital and general corporate expenses.
    In connection with the private placement, PowerOne Capital Markets
Limited will receive a fee equal to 10% of the gross proceeds raised under the
offering. In addition, Fieldex will issue a non-transferable compensation
warrant to PowerOne Capital Markets Limited, entitling it to purchase that
number of common shares of Fieldex which is equal to 8 % of the number of
units sold in the private placement. The compensation warrant will be
exercisable at a price of $0.65 per share for a period of two years from the
closing of the private placement.
    The private placement is subject to regulatory approval, including that
of the TSX Venture Exchange, as well as the approval of the Board of Directors
of Fieldex.
    The securities issued in connection with the private placement will be
subject to a four-month hold period under the policies of the TSX Venture
Exchange and applicable securities legislation.

    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.

    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, President and CEO, (819)
762-0609, Fax: (819) 762-0097,, Fieldex

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Fieldex Exploration Inc.

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