Mr. Rajesh Sharma reports

FANCAMP REPORTS COINCIDENT GEOCHEMICAL AND GEOPHYSICAL ANOMALIES AT RILEY BROOK AND CONFIRMS GOLD BEARING RHYOLITE AT MCINTYRE BROOK AT NEW BRUNSWICK ACADIAN GOLD JOINT VENTURE

Fancamp Exploration Ltd. has released the initial exploration results of Acadian Gold, a joint venture with Lode Gold Resources Inc. for the advancement of a 445-square-kilometre underexplored land package located in New Brunswick. Work completed as part of the launch of Acadian Gold's exploration program includes a Heliborne HeliTEM survey over the Riley Brook and McIntyre Brook properties, as well as a soil geochemical grid on select areas over the Riley Brook property, along with trenching and rock chip channelling at McIntyre Brook.

The results received from this first phase of exploration by Acadian Gold has significantly increased the known surface expression of the previous data and historical drilling at McIntyre Brook, confirming by trenching and chip channel sampling a gold-bearing rhyolitic horizon presenting a minimum strike extension of at least a 200-metre and up to nine-metre thickness, similar to the one observed at Puma Exploration's Williams Brook project.

At Riley Brook, a significant multielement soil anomaly coincident with a conductive EM anomaly indicates the possibility of an intrusion-related gold system in the southwestern section of the property. By confirming the limited historical work at McIntyre Brook as well as identifying combined soil and geophysical anomalies, the company has further substantiated the prospectivity of the Acadian Gold joint venture to expand into a district-scale gold-copper play. The Acadian Gold properties encompass a combined 445-square-kilometre land package of mineral claims, constituting gold mineralized zones that extend over several kilometres, on trend with Puma Exploration's Williams Brook property which is the subject of an option agreement with Kinross Gold Corp., making Fancamp and Lode Gold's joint package of assets inherently attractive.

Francois Auclair, vice-president of exploration of Fancamp, comments: "The first phase of exploration at the Acadian Gold joint venture has been successful at confirming a meaningful, gold-bearing rhyolitic horizon at McIntyre Brook through the trenching and channel sampling; and at Riley Brook with coincident, geophysical and multielement geochemical anomalies. The results at both properties are highly encouraging considering the limited historical work recorded in the area and that less than 10 per cent of the Riley Brook property has been covered by FNC geochemical soil sampling program. We see a lot of potential for growth given the prolific region which hosts other gold-focused development projects, the dominant land package and likelihood of proving these properties host epithermal and intrusive-related gold systems."

This joint initiative with Lode Gold Resources Inc. occurs in a highly prospective geologic domain for gold and polymetallic discovery, within the Appalachian gold corridor that hosts other gold-focused projects such as New Found Gold's Queensway project and Calibre Mining's Valentine Lake project.

Exploration highlights

• The Heliborne HeliTEM survey was flown over 3,247 line kilometres, covering 419 square km of joint venture land package, with considerable data acquired over both properties in a grid pattern with 150-metre spacing between each flight line. The helicopter-borne geophysical survey consisted of magnetic, electromagnetic and radiometric measurements leveraging the Xcalibur HeliTEM system.
• Prospecting and trenching at McIntyre Brook confirmed the presence of a gold-bearing rhyolite horizon, similar to the one observed at Puma's Williams Brook project, with preliminary trench results that include 5.3 metres of 1.19 grams per tonne Au.
• The survey revealed the presence of coincident radiometric and conductive geophysical anomalies at both Riley Brook and McIntyre Brook.
• Soil geochemical surveys were conducted over three grids on the Riley Brook property and revealed the presence of large soil Au-W-As-Sb (gold-tungsten-arsenic-antimony) geochemical anomalies positioned in the southern part of the property.
• Acadian Gold staked an additional 26 square km at the southwestern edge of the Riley Brook property to cover the potential continuation of the soil geochemical anomaly and coincident conductivity anomaly.

McIntyre Brook trenching program

The McIntyre Brook trenching program confirmed earlier results from historical drilling in the central part of the property. Results significantly expanded the known mineralization previously defined by Lode Gold Resources Inc. in 2019 to a minimum strike length of 200 metres and a potential thickness of up to nine metres. Mineralization defined insofar appears comparable with the description of a similar mineralized lithological unit found on neighboring Puma Exploration's Williams Brook project.

The McIntyre Brook trenching also allowed for better definition of the strike and dip of the gold-bearing rhyolitic unit and for follow-up exploration drilling along the southwestern and northeastern trend. EM airborne data have further revealed a distinctive anomaly located in the eastern sector of the McIntyre Brook property, where assay results of soil samples collected from this area are expected later this month.

Results received to date are considered very encouraging, meanwhile results from the soil geochemical surveys at McIntyre Brook remain pending, which intend to guide future course of action for a prospective drill program. Future work planned at the McIntyre Brook prospect intends to further expand the strike length and identify potential parallel structures and inflections.

Riley Brook geochemical soil surveys

The Riley Brook geochemical soil surveys revealed the presence of strong soil anomalies in the southern end of the property. These seem to correlate with a number of discrete intrusives mapped throughout the property by the New Brunswick Geological Survey.

Recon soil sampling which only covered approximately 10 per cent of the Riley Brook property has revealed multiple gold anomalies of similar tenor demonstrated on other Appalachian gold belt deposits such as Puma Exploration's Williams Brook Property (greater than 20 parts per billion (ppb) Au in soils).

The soil anomalies are defined by various percentile levels of As (98 per cent), Au (99 per cent), Sb (97 per cent) and W (96 per cent), elements which are valid pathfinders associated with gold mineralization in epithermal and intrusive-related systems. Notably, these anomalies are further associated with potential coincident HeliTEM conductive and radiometric anomalies.

Future work at Riley Brook may include ground geophysics to cover the gold geochemistry and EM anomaly, including further soil sampling and trenching work planned for the spring of 2025.

New Brunswick, Acadian Gold joint venture: A joint initiative with Lode Gold Resources Inc. for the advancement and exploration of significantly sized, well-located and underexplored mineral assets in New Brunswick, Acadian Gold Corp. This 50/50 joint venture is located in a highly prospective region for gold and polymetallic mineral discovery, a geologic domain that hosts other gold-focused firms such as Calibre Mining and New Found Gold. The Acadian Gold joint venture includes the Riley Brook property, a 334.5 square km land package of mineral claims and 111 square km of McIntyre Brook mineral claims, combined to create a dominant landholding on an orogenic belt where other major developers are established and host certain world-class deposits. The Acadian Gold joint venture is positioned from a strategic perspective as a key player in the region, and holds the potential to become an emerging, district-scale, Au-Cu exploration play with upside potential from a major discovery (refer to press releases dated Aug. 27, 2024, and Oct. 9, 2024).

About Fancamp Exploration Ltd.

Fancamp is a growing Canadian mineral exploration company 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 company 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. The company continues to identify 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 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 company 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 company is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

Qualified person

The technical information and disclosure 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.

Quality assurance and quality control

Francois Auclair, PGeo, MSc, a qualified person as defined by National Instrument 43-101, is responsible for the continuing drilling and sampling program, including quality assurance (QA) and quality control (QC). Assays for the soil sampling and trenching were respectively analyzed by ALS Canada Ltd. and Techni-Lab, a subdivision of Actlabs. The corporation inserts quality control samples (blanks, standard reference material and duplicates) at regular intervals to monitor laboratory performance.

We seek Safe Harbor.