Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

June 09, 2010 13:22 ET

Fancamp Exploration Ltd.: Fermont Property Joint Venture

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2010) - Fancamp Exploration Ltd. (TSX VENTURE:FNC) wishes to announce that Champion Minerals Inc. has earned a 65% interest in the 50% held Fermont Iron Property by making total cash payments of $1,000,000, issuing 2,900,000 common shares of Champion and completion of $6,000,000 in work expenditures. With Champion completing its earn-in, a 65% - 35% joint venture will be formed between Champion Minerals Inc.(65%), Fancamp Exploration Ltd.(17 ½%) and the Sheridan Platinum Group (17 ½%). Fancamp and Sheridan retain a 3% Net Smelter Returns royalty, one third of which may be purchased by Champion for $3,000,000.

Fancamp is looking forward to participating in further exploration undertakings with our 17 ½ % interest.

Refer to the Champion website for further details -


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

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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