FEC Resources Inc. (FECOF)

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Update on MPSA148




MPSA148 is held through Lascogon Mining Corporation 60% by Philex Gold Philippines Inc (a subsidiary company of Philex Mining Corporation, the largest publicly traded mining company in the Philippines and parent company of FEC Resources, Inc.) and 40% by FEC.

The initial work program to delineate the gold occurrences at MPSA148 have concluded with the completion of trenches 8 and 9 and a total of 2,600 additional samples were taken during this phase of the Work Program.

J.E. Villaluna, President & CEO commented:

"We have completed the Work Program at MPSA148. We look forward to finalizing the NI43-101 compliant resource estimate by Independent Resource Estimations Inc of South Africa. We will endeavor to release the results of this study and further information on our resultant plans going-forward with the asset, within Q4"

For and on behalf of the Company:

FEC Resources, Inc.

This should provide some important news.