Fancamp Options Two Highly Prospective Claim Blocks in the Chapais Copper-Gold Mining Camp, Quebec

Fancamp Exploration Ltd. ("Fancamp" or the "Company") (TSX VENTURE:FNC) is
pleased to announce the optioning of two early-stage exploration properties, the
Phoenix and MTK Properties, in the Chapais segment of the Chibougamau-Chapais
Copper-Gold Camps (Quebec). 


The 31-claim Phoenix Property ("Phoenix") sits immediately south of and
adjoining the town of Chapais and its four former precious and base metal
producers, the Perry, Robitaille, Cooke and Springer Mines, with a combined past
production of greater than 1 billion tonnes of Copper, 530,000 ounces of Gold
and 8 million ounces of Silver from 24.17 million tonnes grading 2.05% Copper
and 0.68 g/t Gold (F. Leclerc, P. Houle and R. Rogers, MRNFQ, 2010).


The Phoenix also covers geology that recent MRNFQ work (P. Houle, MRNFQ, 2011)
consider highly prospective for Volcanogenic Massive Sulphides or VMS-type
mineralization. Of immediate interest on Phoenix was the discovery, some 4 years
ago, of a group of boulders assaying up to 17.6% Copper and 85.7 g/t Gold (MRNFQ
GM 64732). Previous attempts by others at identifying the sources were
unsuccessful (it is notable that the nature of this mineralization is not
typical of the mines in the area) but large areas of Phoenix remain unexplored
and untouched by modern exploration. 


The Company has agreed to pay $25,000 and issue 100,000 common shares of
Fancamp. The balance $255,000 cash, 1.3 million shares and $2.1 million in
exploration expenditures before December 12, 2016, to earn a 100% interest is
optional and is results dependent. A 1.5% NSR Royalty underlies the Property of
which 0.75% may be bought back for $1 million.


The early-stage MTK Property ("MTK") consists of 48 claims and is located in a
previously unexplored area, about 30 km northwest of Chapais. The point of
interest here is the recent discovery from prospecting by one of the vendors, on
a newly cut lumber road, of a silicified and sulphide-rich zone of unknown
dimensions in outcrop with grab samples yielding up to 8.8 g/t Gold (G. Lamothe,
personal communication, 2012). 


The Company is obliged to pay $20,000 on signing and issue 100,000 common
shares. The balance $60,000 cash and 450,000 common shares to 100% by December
15, 2015, is optional, also results dependent. A 1.5% NSR Royalty is attached to
MTK, 1% of which may be bought back for $1 million.


The option on both properties was entered into among arm's length parties and is
subject to the approval of the TSX Venture Exchange.


The Chapais Copper-Gold Camp

(taken from P. Houle, MRNFQ, 2011, and F. Leclerc, P. Houle and R. Rogers,
MRNFQ, 2010)


The Chapais Copper-Gold Camp is located in the northeastern segment of the
Abitibi Volcanic Belt (the "AVB"). The northeast trending Gwillim Fault cuts the
center of the region where metal occurrences and deposits have been discovered
along fault splays on its flanks. These deposits form an integral part of the
Chibougamau-Chapais mining camps which produced over a 50-year period more than
2.7 billion pounds of Copper, 4.1 million ounces of Gold, and 12.8 million
ounces of Silver with Zinc, Nickel and Cobalt credits. 


Both Phoenix and MTK are located along the eastern and western flanks
respectively of the Gwillim Fault. Mineralization proximal to both properties
include plurimetric wide E-W trending Opemiska-type veins and stockworks with
Copper-Gold-Silver located west of the Gwillim Fault; metric wide E-W to NW-SE
veins containing Copper-Gold located east of the Gwillim Fault; and VMS-type
lenses containing Copper, Zinc, pyrite and pyrrhotite. 


There has been little in-depth exploration over much of the region. Recent work
has revealed the existence of additional E-W deformation corridors whose gold
potential needs to be evaluated. Known gold occurrences hosted by these
deformation corridors are spatially associated with felsic intrusions and
carbonate-albite-silica alteration typical of the Porcupine-Destor and Larder
Lake-Cadillac deformations zones, where more than 175 million ounces of gold
where produced since the early 1900s. 


In the near term, Fancamp plans ground geophysical surveys to ascertain the
geological and structural signatures on both properties, the extent of the
sulphide mineralization on MTK and the potential for and size extent of
Gold-Copper-Silver and VMS systems.


This news release was prepared by Mr. Jean Lafleur, M. Sc., P. Geo., the
Company's President and CEO, a Qualified Person under NI 43-101 standards. 


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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Fancamp Exploration Ltd.
Jean Lafleur, M. Sc., P. Geo.
President and CEO
(514) 975-3633
pjlexpl@videotron.ca
www.fancampexplorationltd.ca


Bay Street Connect Investor Relations
Michael D'Amico
(647) 500-6023
michael@baystreetconnect.com
Fancamp Exploration (TSXV:FNC)
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