FEX Fjordland Exploration Inc

Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to report that it has
signed an Option Agreement with Almaden Minerals Ltd. (TSX:AMM)(NYSE Amex:AAU)
("Almaden") to acquire a 100% interest in the Dill Property, a porphyry
copper-gold property where previous drilling has intercepted several long
intervals of copper mineralization including 207 metres (m) grading 0.25%
copper. This hole - like most drill holes - bottomed in mineralization and
therefore remains open to expansion at depth, as well as laterally.


The 400-hectare (ha), road-accessible Dill Property, is located 47 kilometres
(km) southeast of Merritt in southern British Columbia, approximately 45 kms
north of Copper Mountain's flagship Copper Mountain mine that started production
last September. The Dill Property adjoins Fjordland's recently optioned Dillard
Property that was acquired due to numerous porphyry copper mineralized showings
exposed from recent logging activities (see August 31, 2011 news release for
further details: http://www.fjordlandex.com/news/nr11-20.pdf). Fjordland is
planning a systematic exploration program during 2012 which will include
drilling on both the Dillard and Dill Properties which total 2600 ha.


The Dill copper-gold property was explored from 1963 to 1991 by several mining
companies, including Primer Group Minerals (1966-1969) that completed 18 core
holes totaling 2330 metres (m) and 3 percussion holes totaling 201 m, Cominco
Ltd. (1981-1983) that conducted geochemical and geophysical studies, and Placer
Dome Inc. (1989-1991) that completed 11 angled drill holes totaling 2020 m. A
selection of mineralized drill intercepts from previous drilling is shown in the
table below:




SELECTED HISTORICAL MINERALIZED DRILL INTERCEPTS                            
                                                                            
----------------------------------------------------------------------------
             Total                                                          
             Depth    From      To  Interval      Cu     Au                 
DDH             (m)     (m)     (m)       (m)     (%)  (ppb)  Company       
----------------------------------------------------------------------------
D66-1        127.4    10.7   127.4     116.7    0.22    303   Primer Grp Min
----------------------------------------------------------------------------
D66-2        126.2    83.8   126.2      42.4    0.22          Primer Grp Min
----------------------------------------------------------------------------
D67-4        189.0     6.1   125.0     118.9    0.23     78   Primer Grp Min
----------------------------------------------------------------------------
D67-5         94.2     2.4    94.2      91.7    0.23    303   Primer Grp Min
----------------------------------------------------------------------------
D68-12        39.0     1.2    39.0      37.8    0.33          Primer Grp Min
----------------------------------------------------------------------------
D69-1        247.5    40.2   247.2     207.0    0.25          Primer Grp Min
----------------------------------------------------------------------------
Including             40.2    99.7      59.4    0.37          Primer Grp Min
----------------------------------------------------------------------------
D91-2        219.5    32.3   219.5     187.2    0.24     97   Placer Dome   
----------------------------------------------------------------------------
D91-3        197.5   125.3   151.2      25.9    0.22     64   Placer Dome   
----------------------------------------------------------------------------
D91-5        188.0   158.2   188.1      29.9    0.30    105   Placer Dome   
----------------------------------------------------------------------------
D91-6        183.5    82.9    86.0       3.1    2.02    330   Placer Dome   
----------------------------------------------------------------------------
D91-10       147.2     9.1    66.1      57.0    0.22     76   Placer Dome   
----------------------------------------------------------------------------



Since 1987, Fairfield Minerals Ltd. (now Almaden) has owned the Dill Property.
From 1989 to 1991, Placer Dome Inc. held the Property under option and drill
tested an area measuring approximately 1300 m in length and 400 m in width, part
of coincident copper-gold soil and induced polarization (IP) anomalies,
measuring approximately 1600 m by 700 m, and 1500 m by 900 m, respectively.
Structurally-controlled, near-surface, copper-gold mineralization was
encountered in alkalic monzonites to monzodiorities which intrude Nicola Group
volcanic rocks. The westerly-trending northern zone has been traced by drilling
for 440 m in length and varying up to 140 m in width and to depths of 180 m.
Drilling 400 m to the south of the northern zone also intersected significant
copper mineralization within a southern zone trending west-northwest for 740 m
and to depths of 220 m. Most drill holes bottomed in mineralization at depths of
up to 220 m. The source of numerous gold soil geochemical anomalies (greater
than 50 ppb) remains unclear. One isolated drill intercept in the drilling
returned a 3.1 m interval assaying 710 ppb gold.


Fjordland President, Tom Schroeter, commented, "We are very pleased to add the
Dill Property to our tenements, located between Highland Valley and Copper
Mountain, two major operating copper-gold mines. The previous significant drill
intercepts on the Dill Property, combined with the positive assays recently
obtained from surface sampling on the Dillard Property, provide an excellent
stepping stone to drilling programs during 2012."


To earn a 100% interest in the Property, subject to a 2% NSR which Fjordland has
the option to purchase 50% of, Fjordland will pay $25,000 cash and issue 250,000
common shares of Fjordland within five days of receipt of approval of the
Agreement from the TSX-V. To complete the purchase, Fjordland has the option to
pay an additional $25,000 cash and issue an additional 250,000 common shares of
Fjordland to Almaden on or before the first anniversary of the initial payment.
If Fjordland completes a NI 43-101 Resource Estimate on the Dill Property, it
will issue an additional and final 1,500,000 common shares of Fjordland to
Almaden. The Agreement is subject to approval of the TSX Venture Exchange.


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 38 properties. It has a 51% interest in 7 properties known
as "Tak" totaling 55,654 ha in the Woodjam area of central BC. Fjordland has a
51% interest in two properties known as "Milligan" totaling 2,192 ha, adjoining
Thompson Creek Metals Company Inc.'s Mt. Milligan copper-gold deposits on the
west. Capstone Mining Corp. owns a 49% interest in the combined Tak-Milligan
Project. Fjordland and Serengeti Resources Inc. are 37%/63% partners exploring
13 properties (QUEST Project) totaling 50,170 ha in the Quesnel Terrane north of
Woodjam for precious and base metals. Six of the QUEST properties (totaling
27,690 ha) have been optioned to Xstrata Copper; the QUEST JV owns 100% of the
remaining 7 properties totaling 22,480 ha. Fjordland has a 100% interest in 8
properties totaling 60,047 ha in the Iron Range area and has an option agreement
on 7 properties totaling 21,222 ha with Kootenay Gold Inc. in southeastern BC.
Fjordland has an option to acquire a 100% interest in the Dillard copper and
gold property, 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.


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

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