Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

December 09, 2009 15:16 ET

Fancamp Exploration Ltd.: Option to Acquire Stoke Mountain Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to announce the acquisition of an option to acquire 100% of a near 30,000 acre (12,000 ha.) prospective gold, copper, zinc property located some 56 miles (90 km) SW of its Beauce Gold Property in Quebec's Eastern Townships. This property, underlain by the Ascot-Weedon volcano-sedimentary belt, hosts a number of interesting showings, with shallow drill intersections returning up to 6.34% Cu / 5.1 m and 0.56% Cu / 24.7 m (Phelps Dodge 1996-99), and gold in quartz vein stockworks, with shallow drill holes returning up to 10.4 g/t / 0.4 m and 7.0 g/t/ 0.8 m (Lac Minerals, 1984). Both Phelps Dodge and Lac Minerals carried out high quality but limited exploration programmes, generating numerous targets, many of which have yet to be tested. The property vendor, Jean Laforest, Eng. of RessourcesTectonic Inc., subsequently discovered numerous sphalerite rich massive sulphide boulders close to the copper bearing horizon just cited; follow up work on this discovery has yet to be carried out.

The Company plans an airborne VTEM survey over the property, scheduled to begin immediately.

It is noteworthy that the Ascot-Weedon belt is host to several past base metal producers.The Weedon, Cupra and Solbec Mines are located 30 km NE of the property and have a joint historical production of 6.04 Mt grading 1.9% Cu and 2.73% Zn. The Eustis, Suffield and Aldermac Mines are located 25 km to the SW of the Stoke property and have an aggregate historical production of 3.32 Mt grading 1.71% Cu plus zinc, lead and silver credits.

To earn a 100% interest in the property Fancamp will pay a total of $65,000, issue 275,000 common shares, and spend $600,000 on exploration and development over three years. The vendor will retain a 2% NSR of which 1% may be bought back at any time for $1,000,000.


Peter H. Smith, PhD., 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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