Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

November 09, 2009 14:27 ET

Fancamp Closes Flow-Through Financing With MineralFields Group; Further Drilling Planned at McFauld's Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. (the "Company") wishes to announce the closing of a non-brokered private placement of $1,500,000 through the sale of 3,000,000 flow-through units (the "FT Units") at $0.50 per FT Unit to MineralFields Group. Each FT Unit consists of one flow-through common share, and one-half of one non flow-through share purchase warrant (the "Warrants"). Each whole Warrant is exercisable into one common share at a price of $0.75 per share for two years from the closing date, subject to earlier forced acceleration in the event the Company's shares close at a price of $1.00 per share or more for 30 consecutive trading days after the four month hold expires. The flow-through shares are subject to a four month hold period expiring March 7, 2010. Finder's fees have been paid to Pope & Company Limited and Limited Market Dealer Inc.

The funds will be used to further test the known C1 and C6 nickel/PGM targets at McFauld's Lake. Drilling will be preceded by downhole directional surveys and geophysics on previous holes, where possible. The C1 target is, of course, of particular interest as it is part of the Eagle 1 Intrusive Complex and exhibits evidence of similar massive sulphide mineralization.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.


"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.

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