Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

December 14, 2009 10:36 ET

Fancamp Acquires Option on Clinton VMS Prospects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to announce the acquisition of an option to acquire 100% of a 30,250 acre (12,100 ha) prospective copper zinc VMS trend located some 54 miles (86 km) south of the Company's Beauce property near Lake Megantic and the border with Maine. The property is divided into two parts, the Clinton North Block and the Clinton South Block. The Clinton North Block contains some six mineralized lenses spread out along a strike length of some 4 miles (approx. 6 km). A resource calculation by the Sullivan Mining Group in 1973 (non 43-101 compliant) totalled 1.8 M tons of 2.02% Cu and 1.54% Zn (which estimate includes 20% dilution). The largest of these lenses is the so called Clinton F which contains 390,000 tons with grades of 2.18% Cu and 1.77% Zn. The only previous airborne work recorded in the area was the Quebec Government Rexhem Survey done in 1984 covering the strike length just described. A further 6.3 miles (10 km) of favourable strike length to the SW on the Clinton North Block property remains to be tested. Prospecting by Noranda in 1993-95 in this untested zone, near the U.S. border, led to the discovery of mineralized felsic volcanic boulders with grades of up to 7.96% Zn and 0.21% Cu. Bedrock sources however, were not discovered.

The Clinton South Block, located some 3 miles (5km) to the south, covers additional prospective stratigraphy.

It is well known that VMS deposits occur in clusters and much larger deposits could be hidden in this environment. An airborne VTEM survey is scheduled to begin immediately, in conjunction with the survey being carried out on the Company's recently acquired Stoke Mountain Property.

To earn a 100% interest in the property Fancamp will pay a total of $100,000, issue 500,000 shares and spend $950,000 in exploration and development over three years.

The vendor will retain a 2% NSR of which 1% can be bought back for $1,000,000.

ON BEHALF OF THE BOARD

Peter H. Smith, PhD., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information