FNX Mining Company Inc.

FNX Mining Company Inc.

May 19, 2010 06:30 ET

FNX's Renames the Levack Footwall Deposit the Morrison Deposit

TORONTO, ONTARIO--(Marketwire - May 19, 2010) - FNX Mining Company Inc. (TSX:FNX) ("FNX" or the "Company") announces that the Company's 100% owned Levack Footwall Deposit ("LFD") has been officially renamed the Morrison Deposit as a tribute to Gord Morrison, FNX's Senior Vice President, Exploration. The Morrison Deposit is FNX's greatest asset and was discovered by the FNX Exploration Team, led by Gord Morrison, in 2005. It is scheduled to begin commercial production in mid-2010. The Morrison Deposit is a typical Sudbury Basin, high grade copper-precious metal-nickel footwall deposit which has, from a limited part of the deposit, current NI 43-101 Probable Mineral Reserves of 1.3 million tons at 7.4% Cu, 1.5% Ni, 0.20 ounces per ton platinum, palladium and gold. The Morrison Deposit is open in most directions and is being expanded with ongoing drilling from newly established drill platforms as the in progress development of the deposit expands at depth.

Gord Morrison was employed for 32 years by Inco Limited as an exploration geologist in Sudbury and globally. While at Inco, Gord Morrison and his exploration team found several very significant deposits for Inco, including their best footwall deposits (153 Deposit and Victor) plus several nickel contact and offset deposits. He retired from Inco Limited in 2003 and joined FNX. Gord was instrumental in assembling and mentoring the FNX Exploration Team which is recognized internationally for their exploration success in the Sudbury Basin. Since 2002, Gord and his team have made 9 discoveries on the FNX properties, five of which have been successfully put into production, including the Inter Main, 2000 Deposit, Main Depths Deposit, LFD and the recently discovered Victoria Offset Deposits.

Terry MacGibbon, Chairman and CEO of FNX stated that, "Gord Morrison is one of the world's most knowledgeable and talented exploration geologists and has a long history of exploration successes in the Sudbury Basin. His contribution to the growth of FNX has been outstanding. There are many great geologists and explorationists but there are very few mine finders and Gord has a unique and special talent for finding mines. Almost equal to that talent is his talent to mentor and coach young geologists and earth scientists. Through the sharing of his geological knowledge and strategies with a new generation of exploration geologists at FNX, he has created one of the premier exploration teams in the world. The FNX board of directors recognizes the great contribution which Gord has made to FNX and has unanimously approved renaming the LFD to the Morrison Deposit in his honour."

Contact Information

  • FNX Mining Company Inc.
    Terry MacGibbon
    Chairman and Chief Executive Officer
    FNX Mining Company Inc.
    David Constable
    Vice President Investors Relations