Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce a
private placement (the "Private Placement") of 1 million units (the "Units").
Each Unit consists of one common share (a "Share") and one Share purchase
warrant (a "Warrant") at a price of $0.15 per Unit. Each Warrant will entitle
the holder to purchase one Share for a period of 12 months at an exercise price
of $0.25 per Share (the "Warrant Term").


Fairmont may accelerate the Warrant Term for the outstanding but unexercised
Warrants such that the Warrant Term shall expire at 5:00PM Pacific Time on the
day that is 30 calendar days after the date that Fairmont first issues the
Acceleration Notice. In order to exercise the acceleration rights, (i) the
average closing price must have been equal to or greater than $0.35 (subject to
adjustment for forward or reverse stock splits, recapitalizations, stock
dividends or other changes to Fairmont's corporate or capital structure) for 10
consecutive Trading Days (the "10 Day Period") prior to the date that Fairmont
exercises the acceleration rights; and (ii) Fairmont must issue a news release
announcing its intention to exercise the acceleration rights (the "Acceleration
Notice") within 5 business days after the end of the particular 10 Day Period
relied upon by Fairmont in (i).


A finder's fee will be payable on the private placement, subject to the policies
of the TSX Venture Exchange.


Proceeds of the private placement financing will be used for exploration work on
Fairmont's mineral properties and general working capital purposes.


About Fairmont

Fairmont's Quebec properties cover numerous occurrences of high-grade
titaniferous magnetite with vanadium. Where these occurrences have been tested
they have display exceptional uniformity with respect to grade. These
occurrences are of considerable interest due to their proximity to tide water,
with the Grand Anse Sea Terminal at the Port of Saguenay located within 100km of
all of Fairmont's properties.


Forward-Looking Statements

Information set forth in this news release contains forward-looking statements
that are based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. Fairmont cautions
that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Fairmont's control. Such factors include, among other things: risks and
uncertainties relating to Fairmont's exploration program of its mineral
properties, Fairmont's ability to complete the private placement financing and
Fairmont's limited operating history. Accordingly, actual and future events,
conditions and results may differ materially from the estimates, beliefs,
intentions and expectations expressed or implied in the forward looking
information. Except as required under applicable securities legislation,
Fairmont undertakes no obligation to publicly update or revise forward-looking
information. Except as required under applicable securities legislation,
Fairmont undertakes no obligation to publicly update or revise forward-looking
information.


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 THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Fairmont Resources Inc.
Michael A. Dehn
President and CEO
647-477-2382
michael@avantimac.com

Fairmont Resources Inc. (TSXV:FMR)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Fairmont Resources Inc. Charts.
Fairmont Resources Inc. (TSXV:FMR)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Fairmont Resources Inc. Charts.