• Gold and Base Metal Initiatives

  • Fancamp’s South Timmins Mining Joint Venture with Platinex Inc. (PTX) offers exciting opportunities in the highly prospective Southwest Abitibi Greenstone Belt, Canada’s largest gold producing region. Initial encouraging results of exploration programs includes gold discoveries at both Heenan/Mallard and Shining Tree properties including channel samples taken from Heenan/Mallard that returned composite weighted averages of 4.05 g/t Au over 2.00 metres and 2.39 g/t Au over 8.00 metres (see Platinex Inc. news releases dated October 16, 2023, November 9, 2023, and November 27, 2023). Subsequent to this discovery, the joint venture initiated a drill program, currently in progress. Furthermore, exploration activities in Shining Tree are advancing rapidly, with the collection of over 2,000 B-Horizon soil samples. Stripping and prospecting near the past producing Ronda Mine have generated high-grade samples, yielding returns of up to 14.30 g/t Au. A significant soil anomaly on trend with the Camp Zone, previously drilled by Noranda with results such as 5.3 g/t Au over 3.8 metres was also identified on the Mallard property. * The technical information relating to Platinex Inc. and the South Timmins Mining Joint Venture have not been independently verified by the Company or the Qualified Person.

  • Fancamp’s 2024 exploration program will be centered on Grasset and Dileo, two highly prospective projects of focus for the Company and near-term catalysts for growth utilizing the flow through capital raised. Grasset, located along the Detour-Fenelon Gold Trend, Sunday Lake Deformation Zone, which hosts the Detour Lake open-pit gold mine in Ontario (Agnico Eagle Mines Ltd.), is a project of focus for Fancamp, whereby a VTEM survey completed in 2022 delineated multiple discrete conductive anomalies for VMS and Ni-Cu targets and subsequently led to a land package increase. Grasset is uniquely located in a favorable geological environment and of significant size, Fancamp intends to conduct a VTEM survey over newly acquired ground along with a ground IP follow-up during 2024. Dileo, located in the Frotet-Evans Greenstone Belt, hosts a broad trend of mineralization across a 2.2-km corridor. Fancamp is pleased to report results of the 2023 work program at Dileo which indicated a new copper showing that returned up to 1.18% Cu and confirmed, as well as expanded, an Au-Cu-Ag soil anomaly. The Company will conduct an IP survey and trenching over the new copper showing and other target areas of the project.
    

Fancamp presents an opportunity for significant upside as it continues to build a strong portfolio of royalties, marketable securities and projects with diversified mineral exposure, alongside its initiatives to monetize existing assets. Fancamp continues to leverage its cash position, balance sheet and strong technical expertise to evaluate new options for strategic investment, delineate potential transformative and advanced projects for value creation, as well as strategies to maximize returns and increase shareholder value.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration company focused on creating value through medium term growth and monetization opportunities with its strategic interests in high potential mineral projects, royalty portfolio and mineral properties. The Company is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario and Québec, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Company continues to identify near term cash-flow generating opportunities and in parallel aims to advance its investments in strategic mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., in addition to an investment in a zinc mine planned to be restarted in Nova Scotia. The Company has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The Company is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

Further information of the Company can be found at: www.fancamp.ca

Forward-looking Statements

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities legislation. Such forward-looking statements herein include, without limitation, statements regarding the Company’s expectations in respect of the Company’s various investments in, and joint venture with, other mineral exploration and development companies; the Company’s 2024 exploration program; the Company’s anticipated advancement of its titanium technology; and the timing and result of various activities. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the mineral companies in which the Company has invested, the Company’s ability to maintain its current percentage shareholdings in such companies, the conditions in general economic and financial markets; the price of gold, silver and titanium; timing and amount of expenditures related to the Company’s exploration programs; the availability of additional financing; and the availability and costs of mining equipment and skilled labour.

Forward-looking statements involve known and unknown involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Such factors include but are not limited to changes in the operations of the mineral companies in which the Company has invested; changes in the Company’s shareholdings in such companies; results of exploration activities; interpretation of survey and testing results; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration activities; the speculative nature of mineral exploration; risks in obtaining necessary licenses and permits; general market and industry conditions; and the availability of additional financing. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For Further Information

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