Further to the TSX Venture Exchange bulletin dated Jan. 22, 2014, the TSX Venture Exchange has been advised that further to the purchase agreement dated Sept. 16, 2013, between Fancamp Exploration Ltd., Lamelee Iron Ore Ltd. and Champion Iron Mines Ltd., Lamelee has defaulted on the agreement and has returned the 59 mineral claims constituting the Lac Lamelee South iron property in Quebec. In addition, the company will be voluntarily returning the 43 million Lamelee common shares it originally received as part of the agreement.

Further information is available in the company's news release dated June 29, 2016.