Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

December 04, 2007 13:16 ET

Fancamp Exploration Ltd.: Johan Beetz Property-Final Payment Received

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2007) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to report that it has received its share of the final payment due on the Johan Beetz Uranium property sold to Uracan Resources Ltd. The $500,000.00 will be added to the treasury for working capital purposes.

For its 50% interest in the Johan Beetz property, the Company received an aggregate $1,000,000.00 and 175,000 common shares of Uracan Resources Ltd. The Company retains a 1 1/2% net smelter royalty for the 1st two years after commercial production, increasing to 2 1/2% thereafter. On January 1, 2008, the Company will begin receiving advance royalty payments of $12,500.00 per quarter.

ON BEHALF OF THE BOARD

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.

Contact Information

  • Fancamp Exploration Ltd.
    Peter H. Smith, Ph.D.,P.Eng.
    President
    (514) 481-3172