FEX Fjordland Exploration Inc

Fjordland Exploration Inc. (TSX VENTURE:FEX) reports that Capstone Mining Corp.
has elected not to proceed with the option on Fjordland's Tak-Milligan Project,
located in central BC. Over the past two years Capstone funded approximately
$1.12 million for exploration over the nine Tak properties, totaling 50,079
hectares (ha), and the two Milligan properties, totaling 2,978 ha. Fjordland now
owns a 100% interest in all eleven properties.


The properties lie within the prospective Quesnel terrane, well-known for its
porphyry potential, and is underlain by Triassic-aged Nicola Group clastic
sedimentary and andesitic volcanic rocks intruded by late Triassic to early
Jurassic-aged intrusions.


The Tak portion of the project, located between 100 Mile House and Likely
(approximately 100 kilometres (km) in distance, east of Highway 97), consists of
nine non-contiguous claim blocks (Moffat, Moffat East, Tisdall, Canim, Howard
Lake, LaHache, Hazel North, Hazel South and HR), with a total area of 50,079 ha.
The road-accessible properties lie within and adjacent to the Takomkane
batholith (50 km by 40 km), one of several large batholithic bodies which host
calc-alkaline mineral deposits such as Highland Valley Copper and Gibraltar. The
properties also lie south-southeast of the Woodjam copper-gold-molybdenum
deposits which are under advanced exploration by Gold Fields Canada; the Moffat
Property lies approximately 15 km to the south-southeast.


The Tak properties have six historic mineralized occurrences as described in the
BC Minfile Database, including two showings on Moffat, two showings on Howard
Lake, one showing on Canim, and one prospect on LaHache. Recent surveys by
Fjordland have delineated new zones of copper-gold-molybdenum mineralization on
the Moffat property.


The Milligan properties lie approximately 80 km north of Fort St. James, and
approximately 4.5 km west of the Mt. Milligan copper-gold deposits, being
developed for production by Thompson Creek Metals. Previous work by other
operators has identified coincident induced polarization (IP) chargeability and
copper-gold soil anomalies. Limited soil sampling by Fjordland has confirmed
these anomalies; drilling is warranted.


Between September, 2010 and September, 2012, eight widely-spaced, reconnaissance
diamond drill holes totaling 2,260 m were completed (four each on the Moffat and
Tisdall properties) on the Tak portion. The four holes, spaced 1000 m to 1400 m
apart, drilled at Moffat in 2011 initially tested an area measuring
approximately 2 km by 2 km, part of an large, northwesterly-trending IP anomaly
measuring 3.5 km by 900 m. In late 2010, Fjordland geologists discovered
mineralization in the Takomkane batholith approximately 1000 m north of the
Harrison Creek Cu-Au-Mo Minfile prospect; the best grab sample assayed 0.36% Cu,
0.29g/t Au, 6.9g/t Ag and 11 ppm Mo. All four holes drilled, despite the
complete lack of outcrop, encountered porphyry - style copper mineralization
hosted in altered diorites to monzodiorites; the best drill intersection was 5.8
m grading 0.15% Cu and 0.18g/t Au. The four reconnaissance holes (totaling 1,125
m) drilled at Tisdall tested large coincident IP chargeability and soil
anomalies; however, no economic mineralization was encountered.


Also between September 2010 and September 2012, a total of 52.6 line-km of IP
surveying, as well as selected soil geochemical surveying were completed on the
Tak properties. No work was completed on the Moffat and Milligan properties
during 2012. Additional, systematic reconnaissance and infill IP survey over the
Moffat property is recommended, as well as over the Milligan South property,
prior to drilling. Fjordland will be approaching groups interested in gaining an
interest in this prospective group of Quesnel terrane porphyry properties.


Tom Schroeter, President of Fjordland, commented: "Fjordland is very
appreciative of the work funded by Capstone and the preliminary results to date
are encouraging. We feel that exploration in the rapidly developing 'Woodjam
Area' and 'Milligan Area' camps is still at a very early stage and that there is
good potential for discovery in the region. We look forward to continuing
exploration on the Tak-Milligan projects."


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 25 properties. It has a 100% interest in 9 properties known
as "Tak" totaling 50,079 ha in the Woodjam area of central BC. Fjordland has a
100% interest in two properties known as "Milligan" totaling 2,978 ha, adjoining
Thompson Creek Metals Company Inc.'s Mt. Milligan copper-gold deposits on the
west. 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 2
properties totaling 17,657 ha in the Iron Range in southeastern BC. Fjordland
has an option to acquire a 100% interest in the Dillard and Dill copper and gold
properties, 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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