Mr. Michael Dehn reports

CHANNEL SAMPLING RESULTS CONSISTANT ACROSS FAIRMONT RESOURCES BUTTERCUP PROPERTY LENS A; LENS C NEW DISCOVERY

Fairmont Resources Inc. has received 361 metres of channel results representing 184 samples from the Buttercup property. Of the samples, 182 contained massive titano-magnetite, one contained massive titano-magnetite with a fragment of anorthosite and one was massive anorthosite just beyond the contact with the massive titano-magnetite.

Lens A is the primary mineralized zone of the Buttercup mining lease. Channel 1 covers a distance of 213.5 metres running in a north-northeast direction. Of this distance, 46.5 metres are covered with overburden and are unsampled, one metre covered by anorthosite, and two metres contained massive titano-magnetite with a fragment of anorthosite. The remaining 164 metres channelled massive titano-magnetite. The massive titano-magnetite consistently averaged more than 72.5 per cent iron (III) oxide, 19.35 per cent titanium dioxide and 0.58 per cent vanadium (V) oxide in channel 1 (see attached table).

Channel 2 of lens A covers a distance of 79 metres running in a southeast direction. All sampled material in channel 2 consisted of massive titano-magnetite. Six metres of overburden was unsampled. iron (III) oxide and titanium dioxide values are consistent with channel 1, with V2 being marginally lower averaging more than 0.56 per cent vanadium (V) oxide (see attached table).

Channel 3 of lens A covers a distance of 70.5 metres running in a northeast direction. Of this distance, 5.5 metres are covered with overburden and are unsampled. The remaining 65 metres channelled massive titano-magnetite, averaging more than 72.3 per cent iron (III) oxide, 19.6 per cent titanium dioxide and 0.56 per cent vanadium (V) oxide (see attached table).

Lens C, approximately 200 metres southwest of lens A, was channel sampled for the first time. Assay results (see attached table) from lens C in all elements fall within the same ranges for massive titano-magnetite. Channel 4 returned 71.65 per cent iron (III) oxide, 20.06 per cent titanium dioxide and 0.55 per cent vanadium (V) oxide over 29 metres. Channel 5 returned 72.06 per cent iron (III) oxide, 19.9 per cent titanium dioxide and 0.56 per cent vanadium (V) oxide over 26.5 metres. This lens falls outside of the Buttercup mining lease, but within the Buttercup mining claim block.

         BUTTERCUP PROPERTY OCTOBER, 2014 CHANNEL SAMPLE RESULTS

            From     To    Width                     Fe2O3    TiO2   V2O5
              (m)    (m)      (m)             Rock      (%)     (%)    (%)

Lens A                               Channel 1
            0.00   40.50   40.50  Titano-magnetite   70.73   18.88   0.56
including   0.00   26.00   26.00  Titano-magnetite   72.55   19.35   0.58
including  28.00   40.50   12.50  Titano-magnetite   73.33   19.58   0.57
           40.50   50.50   10.00        Overburden              No sample
           50.50   60.50   11.50  Titano-magnetite   73.20   19.63   0.57
           60.50   64.00    3.50        Overburden              No sample
           64.00   76.00   12.00  Titano-magnetite   73.72   19.48   0.58
           76.00   84.00    8.00        Overburden              No sample
           84.00  146.00   62.00  Titano-magnetite   72.72   19.75   0.58
          146.00  171.00   25.00        Overburden              No sample
          171.00  184.00   13.00  Titano-magnetite   72.87   19.49   0.59
          185.00  212.50   27.50  Titano-magnetite   72.80   19.67   0.58
          212.50  213.50    1.00       Anorthosite    7.50    1.97   0.05
Lens A                               Channel 2
            0.00   11.50   11.50  Titano-magnetite   72.60   20.11   0.56
           11.50   17.50    6.00        Overburden              No sample
           17.50   79.00   61.50  Titano-magnetite   72.53   19.74   0.57
Lens A                               Channel 3
            0.00    1.50    1.50  Titano-magnetite   73.10   19.70   0.59
            1.50    4.00    2.50        Overburden              No sample
            4.00   28.00   24.00  Titano-magnetite   71.75   19.67   0.56
           28.00   30.00    2.00        Overburden              No sample
           30.00   58.00   28.00  Titano-magnetite   72.29   19.66   0.57
           58.00   59.00    1.00        Overburden              No sample
           59.00   70.50   11.50  Titano-magnetite   72.30   19.69   0.57
Lens C                               Channel 4
            0.00   26.50   26.50  Titano-magnetite   72.06   19.90   0.56
Lens C                               Channel 5
            0.00   29.00   29.00  Titano-magnetite   71.65   20.06   0.55

"The consistency in assays across lens A and lens C is very encouraging for the homogeneity of the massive titano-magnetite in these zones," stated Michael Dehn, Fairmont's president and chief executive officer. "We are awaiting final extraction permits now, and once they are received we expect to take bulk samples to send for customer testing."

Quality assurance/quality control

Surface channel samples averaging more than seven kilograms each, two by 10 by three metres in size, were collected by qualified personnel from Fairmont Resources under the technical supervision of Jonathan Lalancette, PEng, and Roger Ouelette, PGeo. Samples were bagged, sealed and numbered on site, and delivered to Magnor's office in La Baie, Que. There, samples were crushed and riffle split with the approximately 700-gram sample being sealed in bags for analysis, and the remainder of the sample being sealed in bags and further sealed in plastic pails, and stored at Magnor's office in La Baie, Que., under the supervision of Mr. Lalancette and Mr. Ouellet. Samples for analysis were transported to AGAT Laboratories facility in Chicoutimi, Que., and from there to AGAT Laboratories facility in Mississauga, Ont., for analysis using the analytical packages 201676 lithium borate rusion, XRF finish and 201078 lithium borate fusion, ICP-MS finish. At the laboratory facility, samples were inventoried, weighed and dried; crushed 75 per cent to under two millimetres; riffle split with a 250-gram subsample pulverized 85 per cent to under 75 microns, followed by analysis. Blanks and standards were included in the sample stream.

The technical information in this news release was approved by Mr. Lalancette and Mr. Ouellet, both qualified persons under National Instrument 43-101 regulations.

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