Mr. Rajesh Sharma reports

FANCAMP ANNOUNCES AGM RESULTS AND GRANT OF OPTIONS

Fancamp Exploration Ltd. has released the voting results of its annual general meeting of shareholders (AGM) held on Oct. 30, 2024, in Montreal, Que.

The corporation announces that all resolutions put forward to shareholders in the Fancamp management information circular dated Sept. 30, 2024, were approved. Fancamp also announces that the nominees listed in the circular for the annual general meeting of shareholders were elected as directors of the corporation. The number of directors has been set at six and Mark Billings, Francis MacDonald, Ashwath Mehra, Rajesh Sharma, Mathieu Stephens and Charles Tarnocai have been elected to the corporation's board of directors.

Shareholders at the meeting approved the appointment of Davidson & Co. LLP, chartered professional accountants, as the corporation's auditor for the next ensuing year. The corporation's omnibus equity incentive compensation plan was also approved by a majority of the shareholders. An aggregate of 24,093,375 common shares of the corporation are issuable pursuant to the exercise of stock options, restricted share units, deferred share units and performance share units of the corporation issued or issuable under the omnibus plan, representing 10 per cent of the issued and outstanding common shares as of Oct. 30, 2024.

The corporation has granted stock options to its directors, officers, employees and consultants, exercisable into 8.75 million common shares of the corporation. The options have an exercise price of eight cents per common share and will expire after five years following the date of grant. The options granted will vest immediately with the exception of 150,000 options, which will vest over one year. The options were granted pursuant to the corporation's omnibus equity incentive compensation plan.

About Fancamp Exploration Ltd.

Fancamp is a Canadian mineral exploration corporation focused on creating value through medium-term growth and monetization opportunities with its strategic interests in high-potential mineral projects, royalty portfolio and mineral properties. The corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario, Quebec and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare earth metals and others. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador trough: a rare earth element company (Neoterrex Minerals Inc.), a copper-gold exploration company (Platinex Inc.), an opportunity to develop an emerging gold-copper exploration play with Lode Gold Resources, in addition to an investment in a near-term cash-flow-generating zinc mine (EDM Resources Inc.) 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. The corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

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