Mr. Michael Dehn reports

FAIRMONT RESOURCES INC. (TSX-V: FMR) REQUESTS AND RECEIVES SHORT EXTENSION FOR GRABASA ACQUISITION

Fairmont Resources Inc. has received an extension to complete the payment for Granitos de Badajoz until March 8, 2017, from the Spanish Court in Badajoz.

"We have been working diligently with a European-based funding group and they are in the final stages of completing the necessary documentation," states Michael Dehn, president and chief executive officer of Fairmont Resources. "While there can be no guarantee of success until this process is completed, this short extension was required to secure the Grabasa assets while finalizing the required logistics and paperwork for financing."

Upon receipt of clearance documentation Fairmont will provide an update to all stakeholders, expected to be in less than a week, on the status of financing for Grabasa.

About Fairmont Resources Inc.

Fairmont Resources is a rapidly growing industrial mineral and dimensional stone company trading on the TSX Venture Exchange under the symbol FMR.

Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end-user testing confirming the suitability of quartzite from Forestville for ferro silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (Grabasa) in Spain which includes 23 quarries and a 40,000-square-metre granite finishing facility that has produced finished granite installed across Europe.

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