Frank Davis Appointed to the FNX Board: Financial News

TORONTO, ONTARIO--(MARKET WIRE)--Jan 23, 2008 -- FNX Mining Company Inc. (Toronto:FNX.TO - News) ("FNX" or the "Company") is pleased to announce the appointment of Mr. Frank Davis, JD to its Board of Directors, effective January 22, 2008 and subject to regulatory approval. Mr. Davis is a lawyer and partner at Fraser Milner Casgrain LLP and practices corporate and securities law, principally in the mining industry. Mr. Davis' experience has focused on corporate finance, mergers and acquisitions and corporate reorganizations, representing both issuers and investment banks. This has included personal involvement with several FNX financings and related due diligence reviews from 2002 to the present. He is also an experienced director of public resource companies listed on the Toronto Stock Exchange.

Mr. Davis is included in The Best Lawyers in Canada as a natural resource law expert and the Canadian Legal Lexpert Directory to Leading Lawyers in Canada as an expert in mining. He is listed in the Canadian Who's Who and International Who's Who of business lawyers for mining. Mr. Davis has received Bachelor of Commerce, Law (JD) and Masters of Business Administration degrees from the University of Toronto.

Terry MacGibbon, Executive Chairman of FNX stated that, "We are very pleased that Frank has agreed to join the FNX board of directors. Frank is already very familiar with FNX as he has been involved with most of our major financings and related due diligence reviews. He possesses a unique and broad spectrum of expertise in corporate and securities law within the global resource sector, which, along with his overall legal, corporate and business expertise will be very valuable to the FNX board and management as the Company grows and evolves."

About FNX

FNX explores, develops and produces nickel, copper, platinum, palladium and gold from the McCreedy West and Levack mines located in Canada's prolific Sudbury mining camp. Poised to initiate commercial production at the Podolsky mine early in 2008, the Company plans to double annual ore production from 900,000 tons in 2007 to nearly two million tons by 2010, supported by a resource base of 42.7 million tons of measured and indicated and 35.1 million tons of inferred resources. FNX has grown rapidly and profitably, earning $77.7 million in the first nine months of 2007 on revenues of $216.4 million.