FAIRCHILD ANNOUNCES DRILLING PROGRAM ON POTENTIAL
                   MULTI-MILLION DOLLAR CALIFORNIA GAS PROJECT

VANCOUVER, British Columbia, June 21, 2001 -- The world's largest drilling
contractor, Nabors Industries, Inc., will begin drilling early next week on the
Coalinga Nose Property in California where Fairchild International Corporation
(OTC Bulletin Board: FRCD) has a working interest with other companies including
Greka Energy Corporation (Nasdaq: GRKA, news, msgs) and Micron Enviro Systems
(OTC Bulletin Board: MSEV).

The site is located close to Interstate Highway 5 in Fresno County, within
California's famed San Joaquin Basin which has been one of the most prolific oil
and gas producers in North America yielding 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.

Fairchild President and Chief Executive Officer, Robert Grace, expressed
confidence in the drilling program, expected to take three to four weeks to
complete. "Natural gas is a high value commodity, especially in the California
market, and there are only a few drill prospects left in the state with the
potential of our Coalinga Nose property. A significant gas discovery there would
have a major impact on Fairchild so we'll be monitoring the drill program
closely as the hole approaches target depth."

Fairchild has a five percent working interest in the 8,730-acre gas project. The
primary target is the Cretaceous Brown Mountain Sandstone, a formation that runs
at a 200 to 600 foot interval below 11,5000 feet. The 3-D seismic data acquired
from Chevron by the partnership group identified four positive amplitude
anomalies that could represent potential gas-bearing structural-stratigraphic
reservoirs.

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

ABOUT FAIRCHILD INTERNATIONAL

Fairchild International Corporation is a fully-reporting U.S. publicly-listed
company. Besides the California gas project known as the Coalinga Nose Property,
it has a major mineral exploration project comprising more than 300,000-acres in
the Canadian province of Manitoba. The company's holdings are located in
northeastern Manitoba where one of the world's richest nickel deposits was
discovered by Inco Ltd. and where major mining companies such as DeBeers, BHP,
Kennecott and Falconbridge are actively exploring for diamonds, nickel and
Platinum Group Metals.

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,
ir@fairchildinternational.com