COPPER RESOURCE: Victoria project hosts 3.4-B lb CuEq, production in 2017

ONTARIO - Quadra FNX Mining of Toronto has released 43-101-compliant figures for its Victoria copper deposit near Sudbury. The inferred resource is 12.5 million tonnes grading 2.3%  Cu, 2.2% Ni and 8.5 g/t PMs. The contained metal is estimated to be 3.4 billion lb CuEq.

The Victoria project is generating lots of good news. The grades are higher than those historically found in the Sudbury Camp, and the deposit is open in all directions. Underground development is to begin in 2012 with the start of shaft sinking. Mining could begin in 2017 at a rate of 2,500 to 4,000 t/d.

Quadra FNX says exploration will now focus on testing the up-dip and down-dip extensions of the known mineralized zones. The company will also continue to advance permitting, First Nations consultation, and discussions with other stakeholders in the area. Talks will also be held with Vale about processing ore from the Victoria mine and Vale's back-in-right to the project.

Details of the Victoria project are available in the April 2011 presentation posted at www.QuadraFNX.com.