FEX Fjordland Exploration Inc

Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to announce the signing
of a Letter of Intent (LOI) and Preliminary Agreement (PA) (the "Agreement")
with Sumac Mines Ltd. ("Sumac"), a subsidiary of Sumitomo Metal Mining Co. of
Japan, on the Dillard porphyry copper-gold project ("the Project") in southern
BC. The Agreement has received approval by Sumac's and Fjordland's boards of
directors, and formal signing of the Agreement was carried out on April 3, 2013.


Under the terms of the Agreement, Sumac has the option to earn a 51% interest in
the Project by making aggregate expenditures of CDN$3,500,000 over a three year
period. Expenditures will include $800,000 in 2013, $1,000,000 in 2014, and
$1,700,000 in 2015. Included in the aggregate expenditure is a cash payment to
Fjordland of $193,000 upon signing, and the Agreement is subject to TSX Venture
Exchange approval. Upon Sumac completing the required earn-in expenditures and
exercising their option, a joint venture between Sumac (51%) and Fjordland (49%)
for the Project will be formed. The Agreement includes a 20-kilometre (km) Area
of Interest ("AOI") around the Dillard Property.


As operator, Fjordland has commenced planning for the 2013 work program, with
formal budget and work plan approvals expected within a few months.


Tom Schroeter, President and CEO of Fjordland, states: "Sumac is an exceptional
partner for the Dillard project, with its long-term presence in Vancouver. We
are extremely pleased to have the opportunity to be working together on the
Dillard Property and also under a strategic alliance within the 20-km AOI. They
bring expertise with financial resources and technical skills to join our team
in the next step to advance the potential of the Dillard project. We look
forward to launching a significant drilling program this year."


About the Dillard Porphyry Project

Dillard is a porphyry copper-gold project, road accessible from Vancouver in
three hours, located between Princeton and Merritt. Previous limited, shallow
drilling over an area measuring approximately 1300 m in length and 400 m in
width by Placer Dome in 1991 on the "Dill" property resulted in the discovery of
several significant copper and gold intercepts that have had no follow up. On
the adjacent "Dillard" property, several new prospecting discoveries have been
made in the past two years. When combined with historic geochemical and
geophysical anomalies, these areas represent excellent drill targets (see news
release dated October 18, 2012: http://www.fjordlandex.com/news/nr12-07.pdf).


About Fjordland Exploration Inc.

Fjordland Exploration is a mineral exploration company focused on the discovery
of gold, copper and molybdenum deposits in British Columbia. Fjordland currently
has a portfolio with 25 properties. It has a 100% interest in 5 properties known
as "Tak" totaling 43,486 ha in the Woodjam area of central BC. Fjordland and
Serengeti Resources Inc. are (50/50) partners in the "Milligan West" property
totaling 15,736 ha, adjoining Thompson Creek Metals Ltd.'s Mt. Milligan
copper-gold deposits on the west. Fjordland and Serengeti Resources Inc. are
35%/65% partners exploring 10 properties (QUEST Project) totaling 49,753 ha in
the Quesnel Terrane north of Woodjam for precious and base metals. Xstrata
Copper has one property under option from Fjordland and Serengeti under a
separate "QUEST (Xstrata)" option agreement. Fjordland has a 100% interest in 2
properties totaling 17,657 ha in the Iron Range in southeastern BC. Fjordland
has an option to acquire a 100% interest in the adjoining Dillard and Dill
copper and gold properties, north of Princeton. Fjordland's shares trade on the
TSX Venture Exchange under the symbol "FEX". For further information visit
Fjordland's website at www.fjordlandex.com.


About Sumac Mines Ltd.

Sumac Mines Ltd. (Sumac) is a mineral exploration company based in Vancouver and
a subsidiary of Sumitomo Metal Mining Co., Ltd. (SMM). Sumac has explored many
copper projects in British Columbia since the early 1970s, which resulted in the
discovery of the Kutcho Creek deposit in the northern part of the province.
Sumac is currently exploring for copper and gold in British Columbia and the
Yukon. The parent company, SMM, is an integrated non-ferrous mining, smelting,
refining and manufacturing company. SMM is operating the Hishikari gold mine in
Japan and the Pogo gold mine in Alaska, and has invested in many large copper
mines in the world.


T.G. Schroeter, P.Eng./P.Geo., who is a qualified person within the context of
National Instrument 43-101, has read and takes responsibility for this news
release.


Tom Schroeter, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Fjordland Exploration Inc.
John Gomez
Manager, Investor Relations
604-893-8365
604-669-8336 (FAX)
www.fjordlandex.com

Fjordland Exploration (TSXV:FEX)
Historical Stock Chart
From Apr 2024 to May 2024

Fjordland Exploration (TSXV:FEX)
Historical Stock Chart
From May 2023 to May 2024