FAIRCHILD ADDS OIL AND GAS TO ITS MINING EXPLORATION ACTIVITIES

VANCOUVER, British Columbia, June 20, 2001 -- As part of its strategic plan to
capitalize on significant opportunities in the natural resource sector,
Fairchild International Corporation (OTC Bulletin Board: FRCD) announced today
that it has acquired a working interest in a potential multi-million dollar
California gas prospect. Fairchild's working interest partners include: Greka
Energy Corporation (Nasdaq: GRKA, news, msgs) and Micron Enviro Systems Inc.
(OTC Bulletin Board: MSEV).

The property is located close to Interstate Highway 5 in Fresno County near
Coalinga in the famed San Joaquin Basin which is one of the most prolific oil
and gas basins in North America. The San Joaquin Basin has yielded some 12.3
billion barrels of oil and 12.1 trillion feet of natural gas for a present day
market value of over US $400 billion.

Called the Coalinga Nose Property, Fairchild has a five percent working interest
in the gas prospect consisting of 8,730 acres. Fairchild's acreage is located
along the nose of the Coalinga Anticline in the San Joaquin Basin. The primary
target is the Creataceous Brown Mountain Sandstone, a formation that runs at a
200 to 600 foot interval below 11,500 feet. The 3-D seismic data acquired from
Chevron by the partnership identified four positive amplitude anomalies that
could represent potential gas-bearing structural-stratigraphic reservoirs.

The Brown Mountain Sandstone Formation is similar to the gas productive Blewitt
Sandstone of the Sacramento Basin which has produced in excess of 100 BCF with
initial daily rates of production as high as 15 MCF of gas.

The Colinga property is sandwiched between a 503-million barrel oil field and
another field that has produced 2.9 Trillion Cubic Feet of gas and 458-million
barrels of oil.

Accoriding to the consortium, independent evaluations indicate that the Coalinga
Nose Property may contain up to 800 Billion Cubic Feet of gas. Given the current
spot price for gas in California, this prospect could contain up to US
$8-billion worth of natural gas.

However, Fairchild president, Robert Grace, pointed out that oil and gas
drilling is a high risk, high reward business similar in many respects to mining
exploration. "With the industry re-visiting the deep-seated potential of the San
Joaquin Basin, Fairchild has a significant interest in a potential gas reservoir
near one of the largest and most lucrative energy markets in the Western
Hemisphere."

Mr. Grace said the latest initiative into oil and gas exploration is a logical
progression towards the evolution of Fairchild into what he believes will be a
successful natural resources corporation with a mining exploration division and
an oil and gas division.

ABOUT FAIRCHILD INTERNATIONAL

Fairchild International Corporation is a fully-reporting U.S. publicly-listed
company. Besides





the California gas project known as the Coalinga Noise Property, it has a major
mineral exploration project with a 300,000-acre claim area in the Canadian
province of Manitoba. The location in the northern sector of Manitoba, where one
of the world's richest nickel deposits was discovered by International Nickel at
Thompson, has been described by several mining authorities as being one of the
world's hottest diamond exploration plays. Currently, major companies including
DeBeers, BHP, Kennecott and Falconbridge are actively exploring in the area
where Fairchild is strategically positioned.

Website: http://www.fairchildinternational.com
E-mail: ir@fairchildinternational.com
Toll Free - 888-864-7372


The Private Securities Litigation Reform Act of 1995 provides a safe harbor for
forward-looking statements made on behalf of the Company. All such
forward-looking statements are, by necessity, only estimates of future results
and actual results achieved by Fairchild may differ materially from these
statements due to a number of factors. Fairchild assumes no obligation to update
these forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting such statements. You should
independently investigate and full understand all risks before making investment
decisions.


SOURCE Fairchild International Corporation
CONTACT: Fairchild International Corporation Investor Relations, 888-864-7372 or
ir@fairchildinternational.com