Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

December 23, 2014 16:10 ET

Fancamp Provides an Update of Activities on the High Grade Gold Quartz Vein Systems on Its Northwest Property in the St. Quentin Area of Northwestern New Brunswick

and Its Robidoux Property in Western Gaspe, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 23, 2014) - Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) is pleased to report the preliminary channel sample results of recent exploration activities on the Northwest property located in northwestern New Brunswick. Four mineralized occurrences outlined by the property vendor (refer to FNC news release of November 19th, 2014) over a north-northeast trending strike length of 600 metres were trenched and sampled in late November and early December. A fifth trench was dug across the strike of the regional structural trend which hosts the known occurrences. The occurrence of principal interest, termed the Dome vein, is comprised of a folded, fractured and faulted milky white quartz vein varying in width from thin veinlets to 0.5 metres, hosted within strongly foliated sericite schist. The Dome vein trench was dug to a depth below surface of about 4 metres. At current exposure levels the vein pinches out to the northeast and southwest along strike. This vein was sampled by a series of fourteen 0.5 metre long channel samples, to represent a volume of approximately 20 sq. metres of quartz vein and host rock material. Visible gold was recognized in 6 of the channel samples.

All samples were analyzed using metallic sieve method to minimize the nugget effect ( Au-SCR21). For this method, two size fractions of <100 microns and >100microns were analyzed after screening to yield a weighted average grade for each sample based proportionately on the weight of each fraction. The 14 samples gave an average grade of 5 g/t, with a maximum value of 57.6 g/t over 0.5 metres.

A second vein, approximately 120m south-southwest of the Dome vein was sampled at various locations over a 30 metre strike length and gave results of 60 ppb to 280 ppb Au.

Further south-southwest, about 310 metres from the Dome vein, a grab sample of quartz vein material from a small outcrop exposure gave a result of 32.1 g/t Au.

Most recently a new trench was dug across the strike of the regional structural trend and revealed a new occurrence, approximately 160 metres southeast of the Dome vein with a quartz vein hosted in highly carbonatized fine sandstone and showing visible gold with chalcopyrite and malachite. Further trenching and sampling are planned for this new occurrence.

These preliminary results serve to confirm the results reported by the vendor since the discovery in 2011 and provide encouragement for further trenching and sampling work in 2015.

On the Robidoux property a 400 tonne bulk sample has been collected following favorable metallurgical test results from an initial sample of 5 kilograms from the A zone vein. This initial sample, comprised of quartz vein material was sent to the URSTM (Unité de recherche et de service en technologie minérale) laboratory in Rouyn-Noranda to test for gravimetrically recoverable gold. The head grade of this sample was 31.54 g/t Au and 8.9 g/t Ag. The free gold recovery was 86.1% for gold and 70.3% for silver.

A drilling program was also recently completed on the Robidoux property. A total of 795 metres of NQ drilling in nine drill holes was completed on December 10th, 2014. The program tested the A Zone vein to vertical depths of 35 to 155 metres, and a splay fault hosting a feeder vein to the A Zone to vertical depths of 30 to 70 metres. Analytical results are expected in January, 2015. The A Zone vein was intersected in all 5 holes drilled on the vein, with true widths estimated to vary from 10 cm to 0.8 metres. The 4 holes drilled on the splay fault feeder zone showed a complex relationship of folded and faulted veins, vein fragments and stockworks and breccias within graphitic to silicified siltstones to mudstones locally showing cataclasite textures. Visible gold was observed in these four holes, particularly in samples showing crack and seal textures. Drilling on this structural corridor was over a strike distance of 80 metres and across widths in the order of 5 to 10 metres. Core recovery was poor in some intervals, particularly closer to surface. The high grade quartz boulders reported in the news release of October 22nd appear to have originated from this splay fault feeder zone.

There is compelling evidence to suggest that the Northwest and Robidoux properties share similar geological characteristics and form part of an extensive, structurally controlled, low sulphidation, epithermal style gold mineralizing system formed under similar and related tectonic regimes. The Grand Pabos-Restigouche fault system and associated splay structures remain the focus of Fancamp's exploration efforts in this region from the Quebec Gaspé to Northwestern New Brunswick.

This release was prepared by Messrs. Jean Bernard, P.Geo and Mike Flanagan, P.Geo, Qualified Persons under NI 43-101 rules. Mike Flanagan (P.Geo.), Vice President of Exploration of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release. Mr. Flanagan has supervised the work programs on the Robidoux and Northwest Properties, was directly involved with the Robidoux drilling program summarized in this release, and reviewed the results with on-site geological staff.

About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)

Fancamp Exploration Ltd. is a Canadian junior mineral exploration company that continues to evolve into a holder of shares in partner companies together with royalties. These assets enable the Company to generate free cash flow without further shareholder dilution. The Company has an exceptional inventory of resource projects at various stages of development in three provinces. The commodities include gold, base metals, chromium, titanium and iron.

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

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

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