Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

May 15, 2008 15:31 ET

Fancamp Exploration Ltd.: Major Mag Anomaly Staked-James Bay Lowlands

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to announce that, in partnership with the Sheridan Platinum Group Ltd., it has staked 59 sixteen claim units (15,104 hectares or 151 km2) in the Desolation Lake area, some 215 km NE of the Noront discovery in the James Bay Lowlands. This anomaly is a very distinctive feature occurring at the juncture of a number of large structural lineaments (see attached map). The anomaly's presence has been long known, and during the 1950's an attempt was made to drill it, the deepest hole reaching some 500 feet in the overlying limestone. It is now known that the thickness of the Paleozoic limestone in here is on the order of 500 metres.

Present interest in this feature, of course, has been generated by the remarkable results coming out of the "Ring of Fire". Major magnetic anomalies, such as this, associated with structural lineaments are prime targets in this context and deserve close examination. Recent interpretive studies of the Ontario Department of Mines suggest that iron formations are a probable cause of the magnetic feature, although, interestingly they also interpreted the presence of an ultrabasic body in the immediate vicinity.

Airborne TDEM and magnetic surveys followed by drilling are planned.

The Company now has a new web site: www.fancampexplorationltd.ca.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., P.Eng., President

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

To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/fancamp_map.pdf

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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