Fieldex starts drilling on Midrim copper nickel property



    ROUYN-NORANDA, QC, Aug. 1 /CNW Telbec/ - Fieldex Exploration Inc.
(FLX :TSXV and F7E : Frankfurt ) is pleased to inform its shareholders that
the 10-hole drilling program on the Lac Sairs property has been completed and
that Fieldex is starting a 17-hole drilling program on its advanced-stage
Midrim property in western Québec today.
    On May 2, 2007, Fieldex acquired a 70% interest in the Midrim property
from FNX Mining Company and now fully-owns the property.
    Martin Dallaire, president and chief executive officer of Fieldex,
stated: "This 17-hole drilling program will be very exciting. The Midrim
deposit contains high grade zones and the goal of this drilling program is to
better define and expand them."
    Results from the initial phase of diamond drilling on the Midrim property
are summarized below (ref. 43-101 Midrim Property, Richard J. Mazur, April 17,
2002).

    
    -------------------------------------------------------------------------
                                                      Pt +
    Hole No.     From      To  Interval     Pt    Pd    Pd    Cu    Ni    Co
    -------------------------------------------------------------------------
                   (m)     (m)       (m)   g/t   g/t   g/t     %     %     %
    -------------------------------------------------------------------------
    MR-00-01     8.39   35.19     26.80   0.75  1.40  2.15  2.32  1.45  0.06
    -------------------------------------------------------------------------
    Including   15.50   35.19     19.69   0.97  1.77  2.74  2.99  1.85  0.07
    -------------------------------------------------------------------------
    MR-00-05    28.22   69.60     41.38   0.67  2.14  2.81  1.92  1.81  0.06
    -------------------------------------------------------------------------
    Including   57.15   69.60     12.45   1.00  2.80  3.80  2.72  2.72  0.07
    -------------------------------------------------------------------------
    MR-01-17     0.00   19.35     19.35   0.39  1.15  1.54  1.29  1.33  0.04
    -------------------------------------------------------------------------
    MR-01-25    49.98   57.00      7.02   0.62  1.76  2.38  1.58  1.45  0.04
    -------------------------------------------------------------------------
                64.27   78.27     14.00   0.80  2.20  3.00  2.22  1.84  0.05
    -------------------------------------------------------------------------
    MR-01-28    54.50   60.00      5.50   0.54  1.70  2.24  1.25  1.58  0.05
    -------------------------------------------------------------------------
    MR-01-29     3.00   36.45     33.45   0.40  1.25  1.65  1.42  0.98  0.04
    -------------------------------------------------------------------------
    Including   17.60   36.45     18.85   0.55  1.88  2.43  2.11  1.49  0.05
    -------------------------------------------------------------------------
    MR-01-30    10.90   18.00      7.10   0.66  1.86  2.52  2.15  1.06  0.04
    -------------------------------------------------------------------------
    MR-01-37    46.00   52.60      6.60   0.76  1.89  2.65  3.64  4.29  0.09
    -------------------------------------------------------------------------
    Including   49.00   52.60      3.60   0.70  2.68  3.38  6.30  7.26  0.12
    -------------------------------------------------------------------------
    MR-01-38    42.98   56.00     13.02   0.78  2.14  2.92  2.52  1.37  0.06
    -------------------------------------------------------------------------
    MR-01-53   111.00  117.70      6.70   0.53  1.90  2.43  1.56  1.10  0.10
    -------------------------------------------------------------------------
    MR-01-55    39.00   45.00      6.00   0.45  1.40  1.85  1.34  1.06  0.04
    -------------------------------------------------------------------------
    

    Holes MR00-01 and MR00-05 intersected disseminated and massive sulphides
with high-grade copper-nickel and platinum-palladium values. Intersections in
Hole MR00-01 included 19.7 metres (64.6 feet) grading 2.99% copper,
1.85%nickel, 0.07% cobalt, 0.97 grams/tonne platinum, 1.77 grams/tonne
palladium and 0.48 grams/tonne gold. High-grade intersections in Hole MR00-05
included 10.35 metres (34 feet) grading 2.88% copper, 3.52% nickel,
0.10% cobalt, 0.59 grams /tonne platinum, 3.36 grams/tonne palladium and
0.23 grams/tonne gold. Another 6.3 metre (20.7 feet) section assayed
4.74% copper, 4.94% nickel, 0.11% cobalt, 1.24 grams/tonne platinum,
4.71 grams/tonne palladium and 0.17 grams/tonne gold.
    At Midrim, mineralization typically consists of a number of gabbroic
sills with disseminated sulphides in the upper parts of the sills followed by
massive sulphide accumulations along the basal part of the sills. The massive
sulphides are comprised mainly of chalcopyrite, pyrrhotite, violarite,
pentlandite and pyrite. Native gold and platinum/palladium minerals have also
been identified in the sulphides.
    The Midrim Zone represents one of several outcropping
nickel-copper-platinum-palladium mineralized areas within the Company's
Midrim-Temiscamingue Project Area. Mineralization is hosted by magnetite-rich
gabbroic and subordinate ultramafic rocks. However, much of the
Midrim-Temisamingue area is covered by overburden and outcrop is scarce.
    The Lac Sairs results will be communicated as soon as available

    The Temiscamingue projects are being supervised by Laurent Hallé P.Geo,
the qualified person for these projects.

    About Fieldex:

    Fieldex is a mineral resource company actively exploring in Québec 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, President & CEO, (819)
762-0609, Fax: (819) 762-0097, info@fieldexexploration.com;
www.fieldexexploration.com

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