Securities Law & Instruments

Headnote

Mutual Reliance Review Systemfor Exemptive Relief Applications - relief from the requirementthat the author of a technical report be a member of a "professionalassociation" in order to be considered a "qualifiedperson".

National Instruments Cited

National Instrument 43-101 -Standards of Disclosure for Mineral Projects, 2001 24 OSCB 303,ss. 1.2, 2.1, 5.1 and 9.1.

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ALBERTA AND ONTARIO

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

FNX MINING COMPANY INC.

MRRS DECISION DOCUMENT

WHEREAS the local securitiesregulatory authority or regulator (the "Decision Maker"and collectively the "Decision Makers") in each ofAlberta and Ontario (the "Jurisdictions") has receivedan application (the "Application") from FNX MiningCompany Inc. (the "Corporation" for a decision underthe securities legislation of the Jurisdictions (the "Legislation")that: (1) the Corporation is exempt from the requirement containedin National Instrument 43-101 ("NI 43-101") that theauthor of a technical report or other information upon whichdisclosure of a scientific or technical nature is based be amember in good standing of a professional association in orderfor the author to be considered a "qualified person"as defined in NI 43-101 (the "Membership QualificationRequirement"); and (2) the Corporation is exempt from therequirement contained in the Legislation to pay a fee in connectionwith the Application (the "Application Fee Requirement");

AND WHEREAS under theMutual Reliance Review System for Exemptive Relief Applications(the "System"), the Ontario Securities Commissionis the principal regulator for this application;

AND WHEREAS the Corporationrepresented to the Decision Makers that:

1. The Corporation was incorporatedunder the laws of the province of Ontario on June 26, 1984.The Corporation's head office is located at Suite 300, 347Bay Street, Toronto, Ontario, M5H 2R7.

2. The Corporation is a reportingissuer or the equivalent in each of the Jurisdictions andis not in default of any requirement of the Legislation.

3. The Corporation's securitiesare listed for trading on the Toronto Stock Exchange underthe symbol "FNX".

4. The business of the Corporationconsists of all phases of mineral exploration with a particularemphasis given to the search for economic deposits of basemetals on its properties which are principally located inOntario.

5. The Corporation has retainedDr. James M. Patterson to author technical reports requiredto be filed by the Corporation pursuant to NI 43-101 and toprepare information upon which the Corporation's disclosureof a scientific or technical nature may be based.

6. Dr. James M. Pattersonis a member of the Association of Geoscientists of Ontario("AGO"). AGO was a "professional association"as defined in NI 43-101 until February 1, 2002.

7. AGO is being replaced inOntario by the Association of Professional Geoscientists ofOntario ("APGO"). APGO is a "professional association"as defined in NI 43-101.

8. Dr. James M. Pattersonhas applied to become a member of APGO and would be a "qualifiedperson" as defined in NI 43-101 except only for not yetbeing a member in good standing of a "professional association".

AND WHEREAS under theSystem, this MRRS Decision Document evidences the decision ofeach Decision Maker (collectively, the "Decision");

AND WHEREAS each of theDecision Makers is satisfied that the test contained in theLegislation that provides the Decision Makers with the jurisdictionto make the Decision has been met;

THE DECISION of the DecisionMakers under the Legislation is that the Corporation is exemptfrom the Membership Qualification Requirement and the ApplicationFee Requirement in connection with technical reports or otherinformation prepared by Dr. James M. Patterson provided that:

1. Dr. James M. Pattersoncomplies with all other elements of the definition of "qualifiedperson" in NI 43-101; and

2. the relief granted in thisDecision shall terminate on the earlier of: (1) the date Dr.James M. Patterson becomes a member of APGO or is advisedthat his application for membership to APGO has been denied;and (2) February 1, 2003.

June 27, 2002.

"Margo Paul"