CALGARY, Alberta, Sept. 25 /PRNewswire-FirstCall/ -- FEC Resources, Inc. (OTC Bulletin Board: FECOF) is pleased to provide an update on MPSA148, Mindanao, Philippines.
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.
"J.E. Villaluna"
Jose Ernesto C. Villaluna, Jr.
President & CEO
This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations
For more information please contact Riaz Sumar at (403) 290-1676 e-mail info@FECResources.com or visit the FEC Resources website at www.FECResources.com
