FIELDEX EXPLORATION : COMPLETES SHARE CONSOLIDATION

FIELDEX EXPLORATION COMPLETES SHARE CONSOLIDATION

Rouyn-Noranda, Québec, Canada, December 29, 2016 - Fieldex Exploration Inc. (FLX : TSXV and F7E : Frankfurt) announces that it has obtained Articles of Amendment and received final approval from the TSX Venture Exchange for its one-for-ten share consolidation. Effective at the opening of trading on Friday December 30, 2016, Fieldex's shares will commence trading on the TSX Venture Exchange on a consolidated basis.

Fieldex's shares will continue to trade under the symbol FLX. The new CUSIP number for the consolidated shares is 316902303 and the new ISIN number is CA3169023031. As a result of the one-for-ten share consolidation, Fieldex now has 10,328,553 common shares issued and outstanding.

Shareholders who hold their shares through a securities broker or dealer, bank or trust company will not be required to take any measures with respect to the share consolidation. Fieldex's transfer agent, Computershare Investor Services Inc., has mailed a letter of transmittal to all registered shareholders, who will be required to return their certificates representing pre-consolidated common shares and a completed letter of transmittal to Computershare. Any registered shareholder who submits a duly-completed letter of transmittal to Computershare along with pre-consolidated share certificates will receive in return a post-consolidated share certificate. Additional copies of the letter of transmittal can be obtained by contacting Computershare at 1-800-564-6253 or by e-mail at [e-mail].

About Fieldex

Fieldex is a mineral resource company actively exploring in Québec. As of the date hereof, Fieldex has 10,328,553 common shares issued and outstanding.

Forward-Looking Statements

This news release contains statements that may constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Fieldex, or the assumptions underlying any of the foregoing. In this news release, words such as 'may', 'would', 'could', 'will', 'likely', 'believe', 'expect', 'anticipate', 'intend', 'plan', 'estimate' and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of the Golden Moon Project, or if any of them do so, what benefits Fieldex will derive. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Fieldex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under 'Financial Risk Management Objectives and Policies' and 'Risks and Uncertainties ' in Fieldex's Annual Report for the fiscal year ended December 31, 2015, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Fieldex does not intend, nor does Fieldex undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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

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For more information, please contact:

Martin Dallaire, eng.

President and Chief Executive Officer

Tel.: [phone]

Fax: [phone]