FNX Mining Company Inc.
TSX : FNX

FNX Mining Company Inc.

May 04, 2007 14:42 ET

FNX Acquires Shares of Fieldex

TORONTO, ONTARIO--(CCNMatthews - May 4, 2007) - FNX MINING COMPANY INC. ("FNX") (TSX:NX) announces that Aurora Platinum Corp. ("Aurora"), a wholly-owned subsidiary of FNX, acquired ownership, through a private transaction, of 6,500,000 common shares of Fieldex Exploration Inc. ("Fieldex") (TSX VENTURE:FLX), representing approximately 14.7% of the issued and outstanding common shares of Fieldex, as a result of the sale of FNX's interest in four copper-nickel properties located in northwestern Quebec, representing 100% of FNX's Quebec properties.

Neither FNX nor Aurora has any present intention to acquire ownership of, or control over, additional securities of Fieldex. It is the intention of FNX and Aurora to evaluate its investment in Fieldex on a continuing basis and such holdings may be increased or decreased in the future.

FORWARD LOOKING STATEMENT

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the company's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, future intentions with respect to the Fieldex common shares is an example of a forward-looking statement. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • FNX Mining Company Inc.
    Terry MacGibbon
    President and CEO
    (416) 628-5929
    (416) 360-0550 (FAX)
    or
    FNX Mining Company Inc.
    David Constable
    Vice President, Investor Relations and Corporate Affairs
    (416) 628-5929
    (416) 360-0550 (FAX)
    Email: info@fnxmining.com
    Website: www.fnxmining.com