Faircourt Resource Fund Limited Partnership - Notice of Special Redemption
Privilege

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, March 26 /CNW/ - Faircourt Asset Management Inc., as General Partner (or Manager) of Faircourt Resource Fund Limited Partnership (the "Fund"), is pleased to announce that Unitholders are entitled to a special redemption privilege. Unitholders who wish to exercise this right must do so by depositing their Units for redemption through CDS on or before April 20, 2010. If exercised, Units will be redeemed for a redemption price per Unit equal to the NAV per Unit determined as at the 3rd business day prior to the initial closing of Faircourt Exploration Flow-Through 2010 Limited Partnership which is currently expected to occur in late April 2010 (the "Redemption Date"). Unitholders may elect to (a) use the proceeds to acquire units of Faircourt Exploration Flow-Through 2010 Limited Partnership or (b) receive cash. Those who elect to receive cash will receive payment on or before the fifteenth business day following the Redemption Date (the "Redemption Payment Date").

The Fund will not redeem more than 50% of the NAV of the Fund in connection with the special redemption privilege. If Units representing more than 50% of the NAV of the Fund on the Redemption Date are surrendered for redemption, all redemptions will be effected on a pro rata basis as determined by the Manager, subject to the Manager's right to suspend redemption in certain circumstances. The special redemption privilege is in addition to and does not affect the annual redemption rights currently provided to Unitholders.

The special redemption privilege is intended to provide Unitholders with the option of exchanging their Units for a tax assisted investment in units of Faircourt Exploration Flow-Through 2010 Limited Partnership.

Faircourt Exploration Flow-Through 2010 Limited Partnership has filed a preliminary prospectus in each of the provinces of Canada, except Quebec. Faircourt Exploration Flow-Through 2010 Limited Partnership is offering units at price of $10 per unit. The maximum size of the offering is $25,000,000. The investment objective of Faircourt Exploration Flow-Through 2010 Limited Partnership is to provide its limited partners with a tax assisted investment in a diversified portfolio of flow-through shares and other securities, if any, of resource issuers with a view to (i) maximizing the tax benefit of an investment in the units, and (ii) achieving capital appreciation for its limited partners.

The units will be offered by a syndicate of investment dealers led by Canaccord Capital Corporation and CIBC World Markets Inc. with other syndicate members including, BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, Haywood Securities Inc., Mackie Research Capital Corporation, Macquarie Capital Markets Canada Ltd. and Manulife Securities Incorporated.

A preliminary prospectus containing important information relating to units of Faircourt Exploration Flow-Through 2010 Limited Partnership has been filed with securities commissions or similar authorities in each of the provinces of Canada, except for Quebec. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Len Sauer, Canaccord Capital Corporation, Telephone: [phone] or email: [email protected]. There will not be any sale or any acceptance of an offer to buy units of Faircourt Exploration Flow-Through 2010 Limited Partnership until a receipt for the final prospectus has been issued.

About Faircourt Asset Management Inc.

Faircourt Asset Management Inc. was established to design, distribute and market innovative, tax efficient structured investment products to Canadian retail investors. Faircourt currently provides management services to TSX-listed closed-end funds and also provides marketing and administrative support and other services to a program of principal protected notes, issued by a Canadian chartered bank. Additional information regarding Faircourt can be found at www.faircourtassetmgt.com.

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For further information: on the Faircourt Exploration Flow-Through 2010 Limited Partnership, please visit www.faircourtassetmgt.com or contact Charles Taerk, President & CEO or Douglas Waterson, CFO and Portfolio Manager at [phone] or 1-800-831-0304