Mr. Peter Smith reports

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

Fancamp Exploration Ltd. has released 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 Nov. 19, 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, comprises a folded, fractured and faulted, milky white quartz vein varying in width from thin veinlets to 0.5 metre, hosted within strongly foliated sericite schist. The Dome vein trench was dug to a depth below surface of about four metres. At current exposure levels, the vein pinches out to the northeast and southwest along strike. This vein was sampled by a series of 14 0.5-metre-long channel samples, to represent a volume of approximately 20 square metres of quartz vein and host rock material. Visible gold was recognized in six 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 less than 100 microns and greater than 100 microns 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 five grams per tonne, with a maximum value of 57.6 g/t over 0.5 metre.

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

Farther 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 favourable metallurgical test results from an initial sample of five kilograms from the A zone vein. This initial sample, comprising quartz vein material, was sent to the URSTM (Unite de recherche et de service en technologie minerale) 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 silver. The free gold recovery was 86.1 per cent for gold and 70.3 per cent 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 Dec. 10, 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 five holes drilled on the vein, with true widths estimated to vary from 10 centimetres to 0.8 metre. The four 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 five 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 Oct. 22 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 Gaspe to northwestern New Brunswick.

This release was prepared by Jean Bernard, PGeo, and Mike Flanagan, PGeo, qualified persons under National Instrument 43-101 rules. Mike Flanagan, PGeo, 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.