Fairmont to Commence Marketing of a Premiere Lump Titano-Magnetite for Blast Furnace Hearth Protection

- Low Sulphur - Low Phosphorus - Low Insolubles - High Iron

- For the Prevention and Amelioration of Hearth Erosion

- Extends Campaign Life of Blast Furnaces

- Reduces Operating and Maintenance Costs

- Delays Major Capital Expenditures Related to Relining Blast Furnaces

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 25, 2014) - Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce that it has commenced with planning of marketing of a unique DSO (Direct Ship Ore) Lump Titano-Magnetite (titanium in the form of ilmenite in a magnetite matrix) with low sulphur, low phosphorus and low insolubles to iron makers to increase blast furnace life.

Highlights of Fairmont DSO Lump Titano-magnetite

• Very low sulphur and phosphorus compared to lump ilmenite currently sold from Quebec. These are very critical impurities for iron making.
• The insolubles are less than 10%. This is lower than lump ilmenites from other properties in Quebec (>15%), an advantage for iron making as it makes less slag.
• Being higher in Fe compared to other lump ilmenite sold from Quebec will be beneficial for providing higher iron units.
• Blast furnaces will require 15 to 30 kg of the Fairmont DSO Lump Titano-Magnetite per tonne of pig iron produced.

A feasibility study has not been completed and there is no certainty it will be economic to produce these materials.

Titanium bearing minerals like Fairmont DSO Lump Titano-Magnetite are used in blast furnaces to protect the hearth (primarily graphite (carbon)) wall against erosion. Titano-magnetite is a dense magnetite ore with a high specific gravity.

Background on Hearth Erosion and the addition of titanium

Hearth wall erosion and formation of an elephant foot or mushroom features are a common phenomenon in blast furnace operation. If erosion is not prevented, it may lead to hearth breakouts, cutting short the campaign life of the blast furnace. With the addition of titano-magnetite ore, used as a feed material with the burden, the iron from magnetite is reduced to pig iron while the ilmenite produces iron, titanium and titanium oxides. The titanium enters the liquid iron and the oxides enter the slag. This enables the formation of titanium-carbonitride which has a melting point in excess of 3000°C which provides coating on the hearth which prevent erosion. (Figure 1)

"Our property acquisition and consolidation strategy targeted the Lac Elan and Buttercup properties initially, followed by staking the prospective trends within the area. We are targeting typically small but rather high grade mineral occurrences, focusing first on a commodity with a mature market - the lump titano-magnetite market - and secondly identifying projects that have had exploration and are logistically well situated and amenable to our target market," states Fairmont's president and CEO Michael Dehn. "We are now continuing forward with our plan to market Fairmont DSO Lump Titano-Magnetite to the North American and Western European Markets. A typical blast furnace producing one million tonnes of pig iron annually could potentially extend the life of its hearth by adding 15,000 to 30,000 tonnes of DSO Lump Titano-Magnetite per year directly with the burden, depending on whether the goal is long term preventative maintenance or short term amelioration.

"As a result, if proper operating discipline in blast furnace is practiced, it is possible to control the titanium (Ti) content of the hot metal, which helps in crystallization of the titanium-compound that deposits on hearth walls thereby providing protection to the hearth refractories (titanium carbonitride)."

Figure 1 - Blast furnace: thermal control, DSO Lump Titano-Magnetite additions and crucible wear⁽ⁱⁱⁱ⁾: http://www.fairmontresources.ca/pdf/20140225FIG1.pdf.

"The blast furnace remains the most significant and important process for the production of iron. The erosion of hearth refractories has become one of the main limitations for achieving a long blast furnace life." ^{(i) (ii)}

By combining DSO Lump Titano-Magnetite in the blast furnace burden results in the precipitation of Ti (C, N) (titanium carbonitrides) onto the bottom and the walls of the blast furnace hearth (Figure 2). The accumulated precipitation helps to protect the hearth from erosion.⁽ⁱⁱ⁾

Figure 2 - Deposit of titanium carbonitrides in the blast furnace hearth: http://www.fairmontresources.ca/pdf/20140225FIG2.pdf.

Table 1 - DSO Lump Titano-Magnetite Analysis

This representative XRF analysis from Fairmont's Buttercup Property in Quebec.

About Fairmont

Fairmont strives to provide Health & Safety practices to safeguard our workers, work in a manner that minimizes our Environmental Impact, work in cooperation with the Local Communities in which we operate, respect Human Rights and Traditions, and carry on business in a Fair and Ethical Manner.

Fairmont is a mineral exploration company focused on exploration and development in Canada. Fairmont properties are detailed below.

Fairmont Resources Property Holdings

Neil Pettigrew, M.Sc., P.Geo., Director of Fairmont Resources Inc. and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's exploration program of its mineral properties, Fairmont's ability to finalize the definitive agreement, implement its exploration program on the Lac Elan Property and Fairmont's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.