Dear Shareholder,

On behalf of Management and the Board of Directors of Fieldex Exploration inc. (TSXV:FLX), I would like to thank our shareholders for their overwhelming support for the spin-off of our gold assets and the current distribution to our shareholders of 7 439 931 common shares of Visible Gold Mines.

On July 17th, 2007, Visible Gold Mines completed a successful Cdn$ 5.46 million Initial Public Offering and listed its shares on the TSX Venture Exchange.  Visible Gold Mines is now a separate public company, and on July 17th, 2007, its shares began trading on the TSX Venture Exchange under the symbol VGD.  The company is well financed and will conduct a major drilling program to expand the gold resources on the Stadacona property.  Management is committed to make the company grow, and already taken steps to expand its mining portfolio and arrange for a listing on the Frankfurt Exchange.