Vancouver, British Columbia--(Newsfile Corp. - January 5, 2018) - Fairmont Resources Inc. (TSXV: FMR) ("Fairmont" or the "Company") announces that Innovacion, Soluciones Y Servicios Para La Commercialiacion S.L. ("Eureka Trading") has served the Company with a Statement of Claim filed in the Ontario Superior Court of Justice (the "Claim"). The Claim seeks recognition and enforcement of the judgment against the Company that was rendered on June 28th, 2017, by the Court of First Instance No. 5 in the city of Badajoz, Spain, which was previously disclosed in the Company's news releases of July 4, 2017, August 3, 2017 and November 27, 2017. The Company continues to pursue settlement options with Eureka Trading in respect of the Claim. However, there is no guarantee or assurance that the Company will successfully negotiate a settlement with Eureka Trading, and the Company may ultimately be required to pay damages to Eureka Trading in the amount of €575,000.
Further Information on the Claim
For further information on the Claim see the Company's news releases dated: June 9, 2017, July 4, 2017, August 3, 2017 and November 27, copies of which are available under the Company's SEDAR profile at www.sedar.com.
About Fairmont Resources Inc.
Fairmont Resources Inc. is a rapidly growing industrial mineral company trading on the Toronto Venture Exchange symbol FMR.
Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production
