FEC Resources Receives Cash Call From Lascogon Mining Corporation

CALGARY, Alberta, May 28, 2012 /PRNewswire/ -- FEC Resources Inc. (OTCBB: FECOF) ("FEC" or the "Company") reports that it has received a cash call from Lascogon Mining Corporation ("Lascogon") in the amount of 100 million Philippine Pesos or approximately US$2.3 million.

(Photo: http://photos.prnewswire.com/prnh/20120528/SF14516 )

The cash call is being made to address Lascogon's current deficit and to fund the work program and exploration budget for 2012.

The 2012 work program and exploration budget has three objectives:

1. To test the Suyoc area for porphyry copper-gold mineralization in light of new knowledge of porphyry deposits in Surigao
2. To conduct a review and forward new exploration plays for gold mineralization to augment a resource estimate provided by IRES in 2010
3. To confirm and estimate the volume of possible rock aggregate source in the Amoslog area.

These activities are designed to identify drill targets and depths.

FEC owns 40% of Lascogon and currently owes in excess of US$1.0 million for its share of past exploration in addition to the cash call noted above.

The Board of FEC is currently reviewing the recent information and will make a decision on whether to participate or not and how it will be able to fund its share of the program. Should FEC decide not to participate or is unable to fund its share then it may face substantial dilution of its interest in Lascogon.

For and on behalf of the Company:

FEC Resources Inc.

"J.E. Villaluna"

Jose Ernesto C. Villaluna, Jr.
President & CEO

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any natural resources that may be located, variations in the market price of any natural resource products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce natural resources from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's Annual Report on Form 20-F for the year ended December 31, 2011 and its most recent reports filed with the United States Securities Exchange Commission (the "SEC"), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials.

For more information please contact [phone] e-mail [e-mail] visit the FEC Resources website at www.FECResources.com.

SOURCE FEC Resources Inc.