News Release

FM Resources Corp. announces Second Amending Agreement to Agreement to purchase Alberta Oil Properties, restructure Debt.

VANCOUVER, December 20, 2005 - FM Resources Corp. (NEX: FMR.H) announces that it has entered into a Second Amending Agreement to the binding letter agreement (the "Letter Agreement") dated September 12, 2005 with John Hislop (the "Vendor") to acquire all of the issued and outstanding shares of Strikewell Capital Corp. The original Letter Agreement was previously announced in the Company’s press release dated September 12, 2005. The original Letter Agreement was subsequently amended by a First Amending Agreement made as of September 25, 2005, as announced in the Company’s press release dated October 7, 2005. The original Letter Agreement, as amended by the First Amending Agreement, required that a formal share purchase agreement be entered into by October 21, 2005 and all necessary regulatory and corporate approvals be received by December 15, 2005 and set the closing date at December 20, 2005 or such other date as the parties may agree in writing. The Second Amending Agreement extends all of the dates to January 20, 2006 or, in the case of the closing date, such other date as the parties may agree in writing. A shareholders’ meeting to obtain approval of the transaction is not required and therefore the Company will not be seeking shareholder approval. The extensions in the Second Amending Agreement were agreed upon in order to give the parties the necessary time to finalize the documentation required for closing the transaction and for regulatory approval.

All other terms of the original Letter Agreement remain in full force and effect.

For further information, please contact Chris Schultze at (604) 331-3395.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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