Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

February 28, 2012 09:16 ET

Fancamp Announces Spring Drill Programs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Fancamp Exploration Ltd. (TSX VENTURE:FNC) wishes to report the start, one week ago, of a 2500 metre reconnaissance drill program, beginning in the upper reaches of the Gilbert River Valley which hosts the historic Beauce placer gold deposits. Mineralized zones have already been encountered and assays are awaited.

A 2000 metre program is scheduled to begin this week on the Company's Desolation Lake Property in the James Bay Lowlands of Northern Ontario. The Desolation Lake target consists of a kilometre scale, strongly conductive magnetic anomaly buried beneath 300-400 metres of Paleozoic limestone. This magnetic target is one of the strongest known in the Lowlands and has never been tested. Possible target types include Ni, Cu, PGM and VMS sulphide bodies.

A similar program is scheduled to commence on the Company's Red Paint Lake Property tying on to Osisko's Hammond Reef Gold Deposit northeast of Atikokan, Ontario. The Red Paint Lake target consists of major shear zones within the Marmion Lake Fault system, offsets of which host the Hammond Reef Gold Deposit some 10 kilometres to the south. Numerous historic gold showings are scattered along the Marmion Lake structures on the Red Paint Lake Property.


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

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

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

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

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