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Fieldex Exploration receives notice of proceedings
Published : December 12, 2012
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Keywords :   Canada | Rare Earth | Zirconium |

Fieldex Exploration receives notice of proceedings

ROUYN-NORANDA, QC, Dec. 12, 2012 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has been served with a motion instituting legal proceedings against Fieldex before the Québec Superior Court, pursuant to which the claimant is seeking damages from Fieldex in an amount of $5.5 million. The claim relates to an agreement dated October 22, 2010 for the acquisition by Fieldex of 232 mining claims located in the Kipawa area. The agreement was terminated by Fieldex in October 2011.

Fieldex believes that the legal proceedings are entirely without merit and will vigorously contest them.  Fieldex will file its defense in due course.

The mining claims subject to the 2010 agreement are not part of Fieldex's Lac Sairs flagship project located in the Kipawa alcalin complex, 1.7 km from Matamec Explorations Inc.'s Kipawa rare earth element-yttrium-zirconium deposit, located 100 kilometres northeast of North Bay, Ontario, in northwestern Québec, near the Québec-Ontario border.

About Fieldex:

Fieldex is a mineral resource company actively exploring for base and strategic group metal deposits located throughout Canada, representing an area of interest over 600 km².

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.

SOURCE: FIELDEX EXPLORATION INC.

For further information:

Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097

mdallaire@fieldexexploration.com
www.fieldexexploration.com

Companies Mentionned : Noranda | North Bay | Strategic |
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Fieldex Exploration Inc.

CODE : FLX.V
ISIN : CA3169022041
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Fieldex Expl. is an exploration company based in Canada.

Fieldex Expl. holds various exploration projects in Canada.

Its main exploration properties are SCOTT, STADACONA and VILLE MARIE - TEMISCAMINGUE in Canada.

Fieldex Expl. is listed in Canada and in Germany. Its market capitalisation is CA$ 2.1 millions as of today (US$ 1.6 millions, € 1.4 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 0.98, and its lowest recent point on February 12, 2016 at CA$ 0.01.

Fieldex Expl. has 84 690 000 shares outstanding.

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Financings of Fieldex Exploration Inc.
10/16/2014issues securities on conversion of two convertible debenture...
Project news of Fieldex Exploration Inc.
10/9/2012(Lac Sairs)obtains drilling permits on its Kipawa Lac Sairs Project ...
4/19/2011(Lac Sairs)TO START DRILLING THE KIPAWA LAC SAIRS PROPERTY FOR RARE EAR...
Corporate news of Fieldex Exploration Inc.
7/17/2015FIELDEX ANNOUNCES RESULTS OF ITS ANNUAL AND SPECIAL MEETING ...
4/22/2015FIELDEX INTERCEPTS 40 METRES OF SULFIDE MINERALIZATION ON IT...
4/22/2015IIROC Trading Resumption - FLX
4/21/2015IIROC Trading Halt - FLX
4/9/2015FIELDEX RECEIVES DRILL PERMIT AND COMMENCES DRILLING PROGRAM...
3/19/2015FIELDEX ACQUIRES AN INTEREST IN THE COPPER POINT PROPERTY AN...
3/19/2015acquires an interest in the Copper Point Property and additi...
10/17/2014FIELDEX EXPLORATION ISSUES SECURITIES ON CONVERSION OF TWO C...
10/16/2014Fieldex Exploration issues securities on conversion of two c...
7/4/2014Fieldex announces results of its annual and special meeting ...
7/4/2013announces results of its annual and special meeting of share...
12/12/2012receives notice of proceedings
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