Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

December 24, 2008 10:28 ET

Fancamp Exploration Announces Second Quebec Flow Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2008) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. wishes to announce a non-brokered private placement of $150,000 through the sale of 600,000 flow-through units (the "FT Units") at $0.25 per FT Unit. Each FT Unit will consist of one flow-through common share and one-half of one non flow-through share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable at a price of $0.50 per share for a period of up to 2 years from the closing date, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires.

A finder's fee of 6% in cash and 10% in options for Units will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The flow-through proceeds received will be used for work on the Company's exploration properties in Quebec. The above is subject to regulatory approval.


Peter H. Smith, Ph.D., 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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