Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

June 29, 2011 10:01 ET

Fancamp Exploration Ltd.: Magpie Drilling to Begin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2011) -Fancamp Exploration Ltd. (TSX VENTURE:FNC) ("the Company") wishes to announce that drilling will begin on The Magpie Mines Inc. titaniferous magnetite deposit on about July 7, 2011. Two drills are being mobilized into the property this week and the crews accommodated in Magpie's newly constructed camp next to the airstrip. The programme will consist solely of drilling and sampling approximately 6,000 metres in 25 holes which will cover the 1.6 kilometre strike length of Deposit no. 2. The holes will be drilled on approximately ten of the original 500 foot spaced Stratmat sections constructed in 1961 following mapping and structural interpretations and on which the historic resource was calculated. The objective of the programme is to enlarge the published NI 43-101 resource estimate as disclosed in the press release dated July17, 2009 (available on the Fancamp Exploration Ltd. website), in preparation for Magpie's IPO scheduled for year end 2011. Concurrent with this activity will be ongoing metallurgical testing on already available samples together with new sample material arising from the programme.

In addition, the Company wishes to announce that plans are underway for a 3,000 metre drill programme on its 100% owned Lac Lamelee iron property in the Fermont district of Quebec scheduled to begin before the end of July, and directed at adding value to this previously undrilled property.

ON BEHALF OF THE BOARD

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.

Contact Information

  • Fancamp Exploration Ltd.
    Peter H. Smith, PhD., P.Eng.
    President
    514-481-3172
    www.fancampexplorationltd.ca

    Bay Street Connect Investor Relations
    Michael D'Amico
    647-500-6023