Fjordland Exploration Inc. filed its Annual on Apr 26, 2013 for the period ending Dec 31, 2012. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Fjordland Exploration Inc. and Serengeti Resources Inc. announced that they have consolidated their adjoining Milligan South (100% FEX) and Mil (SIR-65%/FEX-35%) properties into a single project (50%/50% JV), "Milligan West", through an amendment to the previous QUEST Joint Venture agreement, dated February 21, 2008 between Fjordland and Serengeti. The Property, comprising 15,736 hectares (ha), is located approximately 160 kilometres (km) northwest of Prince George, BC, and adjoins the western boundary of Thompson Creek Metals Ltd.'s Mt. Milligan copper-gold project, which is scheduled to commence production later this year, following a capital investment estimated at $1.5 billion. Previous work on the Mil property (part of the QUEST JV) included airborne magnetic, ground induced polarization (IP) surveys, geochemical soil surveys, as well as three shallow diamond drill holes in 2009 totaling 790 metres (m). Drilling tested a very small proportion of a very large (22 km by 2-3 km) coincident IP chargeability and magnetic anomaly. One drill hole bottomed in a strongly altered zone that assayed 0.15% Cu over the final 6 m. In addition, soil survey results yielded coincident copper and gold anomalies. Additional drilling is warranted. Previous work on the Milligan South included airborne magnetic, ground IP surveys, geochemical soil surveys, as well as two very shallow diamond drill holes totaling 230 m by a prior operator. Drilling tested two of three separate, coincident magnetic and IP anomalies, along with coincident copper and gold soil anomalies. The Companies believe that the drilling may not have intersected the target and that additional drilling is warranted. Fjordland and Serengeti are currently compiling all previous exploration data for the Mil and Milligan South properties into a single database for the Property. In light of the current market conditions, the Companies have elected to seek a Joint Venture partner to advance the consolidated Project.

Fjordland Exploration Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, loss and comprehensive loss was CAD 86,913 against CAD 187,469 for the same period a year ago. For the nine months, loss and comprehensive loss was CAD 420,934 against CAD 390,054 for the same period a year ago.