FNX Mining appoints Shaver as COO

2008-12-23 11:36 ET - News Release

Mr. Terry MacGibbon reports

FNX ANNOUNCES SENIOR MANAGEMENT APPOINTMENTS

FNX Mining Company Inc. has appointed, effective immediately, William (Bill) Shaver as chief operating officer,

Gord Morrison as senior vice-president, exploration,

Catharine Farrow as senior vice-president, corporate development and technical services.

Mr. Shaver is a Queen's University mining engineering graduate and a co-founder of Dynatec Corp. From 1980 to 2004, he was senior vice-president of Dynatec and responsible for all mining services operations. From 2006 to 2008, he served as executive vice-president, mine development and Canadian operations, for Denison Mines Corp. In September, 2008, Mr. Shaver was appointed president, DMC Mining Services, a division of FNX. He will report directly to the chief executive officer.

Terry MacGibbon, chairman and CEO of FNX, noted: "Bill is a proven operator, and his appointment as COO of FNX broadens Bill's mandate from our DMC Mining Services division to include responsibility for all of our mining operations and developments at our Sudbury mining division. Bill will add his broad and deep mining experience to our current strong mining team with a mandate to manage our Sudbury operations through these challenging times, to develop the Levack footwall production and to position the company to thrive when commodity prices improve."

Gord Morrison, after a very successful 30-year career in Vale Inco's Sudbury and worldwide exploration department, joined FNX in 2002, and was appointed senior vice-president, corporate development, in 2007. Mr. Morrison will continue to be a member of the senior executive team, and, in his new role, he will be responsible for all of the company's exploration activities and report directly to the CEO.

Catharine Farrow is a professional geologist and has a PhD in geology from Carleton University. She joined FNX in March, 2003, as chief geologist and, in 2007, was appointed vice-president, exploration. She is a widely published expert on platinum group elements, and is an adjunct professor at both the University of Toronto and Laurentian University. In her new role, Ms. Farrow will become a member of the company's senior executive team and report directly to the CEO. In addition to identifying and evaluating corporate opportunities, she will represent the company in its business relationships with other companies.

Mr. MacGibbon added: "Gord and Catharine have given FNX a strong advantage in creating value through successful exploration in the Sudbury mining camp. Together with their exploration team, they have made several discoveries over the past five years, which have quickly been brought into production or are under development. Of particular note was the discovery of the Levack footwall deposit in 2005, which has the potential to the company's greatest asset, and to generate exceptional margins and cash flows for FNX once commercial production commences." He added, "The appointments announced today greatly strengthen the company's senior executive team and will allow the company to better manage the current economic downturn."

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