FNX MINING COMPANY INC.

FNX Mining Company Inc. (FNX : TSX), a Canadian Nickel Company, produces, develops and explores for nickel, copper, cobalt, platinum, palladium and gold in Canada's prolific Sudbury Basin. FNX optioned five former producing mines from Vale Inco early in 2002 (McCreedy West, Levack, Podolsky, Victoria and Kirkwood). The properties contained extensive historic surface and underground infrastructure, including roads, head frames, declines, power facilities and buildings. FNX immediately initiated an aggressive exploration and development program consisting of expenditures of over $120 million in the first six years, which led to production in 2003 from the McCreedy West Mine, followed by the Levack Mine in 2007 and Podolsky Mine in 2008.

FNX had a profit of C$68.7 million for the 2006 full year - fourteen times the 2005 profit. During the same period, the cost to produce a pound of nickel (net of by-product credits) declined to US$0.77 and the cash operating margin per ton was C$167. As at September 30, 2007, FNX continued to record strong financial results though adversely impacted by a very strong Canadian dollar and by lower nickel realized prices. For the first nine moths of 2007, the Company has total revenue of $216.4 million on $74.9 million of cash operating costs generating net earnings of $77.7 million, EBITDA of $137.6 million and net earnings per share of $0.93.

As at September 30, 2007, FNX had C$144.8 million in cash and liquid investments plus strong growing cash flows and no debt.

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