Mr. Rajesh Sharma reports

FANCAMP EXPLORATION ANNOUNCES LAUNCH OF DRILL PROGRAM AT CLINTON PROPERTY

Fancamp Exploration Ltd. has launched a planned 2,750-metre exploration drill program on its wholly owned Clinton project, a highly prospective property positioned in a region which has a proven mining history and host to numerous copper mines, in a copper-zinc endowed geological province with some of the biggest volcanogenic massive sulphide (VMS) systems in the world. Given recent exploration program success at both Clinton and Stoke projects during 2022, the corporation rides a strong momentum to make subsequent discoveries and further develop two Cu-predominant projects during a time when the copper market is set to rise significantly. The Clinton copper project located in Quebec's Appalachian region, in Fancamp's opinion, is one of the better risk/reward exploration plays in the sector.

The recently initiated drill program at Clinton will target the potential extension of the massive sulphide A lens situated in the northern part of the property where Fancamp's 2022 drill program successfully validated the extension of the A lens to a minimum of 100 metres along strike and at shallow depth, through a six-hole, 1,294-metre drill program which notably intersected 3.15 metres at 3.30 per cent Cu and 12.64 grams per tonne silver (refer to press releases dated June 14, 2022, and Aug. 17, 2022).

The drill program will also target the southern extension of a favourable geological horizon which hosts the past-producing Clinton O mine and the known massive sulphide lenses containing historical non-compliant National Instrument 43-101 resources of 1.52 million tonnes at 2.02 per cent Cu and 1.54 per cent Zn (MRNFQ Fiche de Gite 21E07-0007), an area where known copper mineralization had been identified across past exploration work and recent drill programs completed during spring 2022.

Results of the induced polarization survey conducted in the winter of 2023 (refer to press release dated March 13, 2023) indicated strong potential for the discovery of copper-zinc mineralization in new and underexplored areas of the Clinton project. The IP survey focused on the southern extension of the Clinton O lens and results delineated high-priority anomalies along the targeted favourable horizon consistent with a response from sulphide mineralization, surveyed down to a vertical depth of 300 metres and up to 5.5 kilometres south of the current known massive sulphide lenses, an area of which Fancamp believes remains significant discovery potential.

The programs completed on the Clinton project to date have given the corporation's technical team a better understanding of the project and highlighted the potential of expanding the footprint of known mineralization beyond the previous limits. Fancamp is encouraged to continue to explore this project and build on the vast data collected, given previous significant intersections of sulphide copper mineralization across various lenses and extensions, including 3.0 metres at 0.72 per cent Cu, 2.87 g/t Ag and 0.02 g/t Au (refer to press release dated Aug. 17, 2022). Clinton remains a priority exploration property given that it hosts a series of Cu-Zn rich VMS mineralization lenses extending over a five-kilometre northeast horizon and encompasses around 20 kilometres of favourable stratigraphy within the Clinton River volcano-sedimentary belt, where previous work indicated most mineralized lenses at Clinton are open at depth and some lenses (such as lenses A and E) remain open along strike.

Fancamp aims to advance promising projects such as Clinton in order to maximize shareholder value through reliable compilation and interpretation of data collected across various geophysical surveys, and supported by historical work, which in this case further validates that the Clinton project hosts significant sulphide copper mineralization potential.

About the Clinton project

The Clinton project is underlain by a folded and faulted bimodal volcanic sequence. It hosts a series of Cu-Zn precious metals volcanogenic massive sulphide mineralization lenses extending over a five-kilometre northeast horizon. The project is situated approximately 20 kilometres southwest of the town of Megantic, north of the Maine border. The Clinton project covers approximately 20 kilometres of favourable stratigraphy of the Clinton River volcano-sedimentary belt.

The project area hosts a non-National Instrument 43-101-compliant historical resource, contained within five small sulphide lenses A, C, E, F and O totalling 1.52 million tonnes at 2.02 per cent Cu and 1.54 per cent Zn (MRNFQ Fiche de Gite 21E07-0007). A qualified person has not done sufficient work to classify the historical estimate as current mineral resource. The corporation is not treating the historical estimate as current mineral resources.

Qualified person

The technical information contained in this press release was reviewed and approved by Francois Auclair, PGeo, MSc, vice-president of exploration of Fancamp, designated as a qualified person under National Instrument 43-101. Mr. Auclair, the corporation's qualified person and an officer, has reviewed and approved the technical disclosure contained in this news release.

About Fancamp Exploration Ltd.

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of progressing priority mineral properties through exploration and innovative development. The corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims encompassing over 147,000 hectares across Ontario, Quebec and New Brunswick, Canada, including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The corporation continues to identify near-term cash-flow generating opportunities and in parallel aims to advance its investments in strategic mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Corp., in addition to an investment in a zinc mine planned to be restarted in Nova Scotia. The corporation has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

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