Fieldex announces results of its annual and special meeting of shareholders

ROUYN-NORANDA, QC, July 4, 2012 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) is pleased to announce the results of its annual and special meeting of shareholders held on June 29, 2012 in Rouyn-Noranda, Québec. At the meeting, shareholders elected Martin Dallaire, Sylvain Champagne, Donald Lacasse (Radisson Mining Resources Inc.) and Jean-Pierre Landry (Aurizon Mines Ltd.) as members of the Board of Directors of Fieldex. The shareholders also re-appointed Dallaire & Lapointe Inc., Chartered Accountants, as the auditors of Fieldex and approved a resolution ratifying and confirming Fieldex's amended stock option plan.

Fieldex expresses its appreciation to Mr. Gordon Morrison, who did not seek re-election as a director of Fieldex, for his efforts and dedication to Fieldex since joining the Board of Directors in 2007.

Following the shareholders' meeting, the Board of Directors appointed Martin Dallaire as Chairman of the Board of Directors, President and Chief Executive Officer of Fieldex and Sylvain Champagne as Secretary and Chief Financial Officer of Fieldex.

Fieldex's Board of Directors has also granted stock options in respect of an aggregate of 1,300,000 common shares to Fieldex's four directors and two consultants. The options were granted pursuant to Fieldex's amended stock option plan. The exercise price of the options is $0.10, which is higher than the closing price of Fieldex's common shares on the TSX Venture Exchange on Tuesday, July 3, 2012. The options expire on July 3, 2022.

About Fieldex:

Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. Fieldex has 68,109,018 common shares issued and outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

Martin Dallaire, eng
President & Chief Executive Officer Tel.: [phone]
Fax: [phone]

[email protected]
www.fieldexexploration.com