Mr. Rajesh Sharma reports

FANCAMP REPORTS POSITIVE GRAVITY GEOPHYSICAL SURVEY RESULTS EXTENDING CURRENT MINERALIZED LENSES AND DEFINING MULTIPLE NEW CU-ZN MASSIVE SULPHIDE TARGETS AT THE CLINTON PROJECT

Fancamp Exploration Ltd. has released positive results from a gravity survey conducted in December, 2024, at its 100-per-cent-owned Clinton volcanogenic massive sulphide (VMS) project, situated in the past-producing area of the Appalachian region of Southern Quebec, one of the top jurisdictions globally in terms of attractiveness for exploration investments (Annual Survey of Mining Companies 2023, Fraser Institute). The recent work conducted at Clinton was successful at identifying multiple, new, high-density targets at depth and delineated the potential VMS deposit root system, fundamental elements to allow for the extension of current mineralization, to demonstrate a significant VMS deposit at Clinton and provide for new copper discovery.

The results of the work conducted at Clinton are highly encouraging, proving out that new targets exist at depth, conceivably larger than on surface, with the potential to extend the already defined mineralized lenses and uncover new meaningful copper-zinc-bearing massive sulphides lenses.

The gravity survey consisted of the acquisition of 2,000 gravity stations, on line spaced every 100 metres with reading stations every 25 metres, in the northern sector of the Clinton property. The survey investigated the potential of identifying deep seated VMS lenses under the known mineralized occurrences of the Clinton project, which hosts historic production that occurred during the 1970s and multiple copper-bearing mineralized lenses. Particular attention was provided to the favourable horizon capping the AB, C, D, E and O lenses.

Highlights

• Twenty-three anomalies indicative of sources in positive density contrast with the host rocks have been identified. These gravity sources are essentially regrouped within the confines of three north-northeast/south-southwest-oriented, slightly broader, anomalous corridors that seem to feature prospective bands of rocks within, or in the vicinity of which are observed, known mineral lenses.
• The gravity survey effectively delineated the geologically favorable horizon hosting the known AB, C, D and E lenses. The known lenses, which exhibit a significant density contrast with the surrounding host rocks, correspond to distinct gravity anomalies, confirming the survey's effectiveness. Critically, the survey also identified new, high-density targets at depth, both below and between the known lenses, which represent compelling drill targets for Cu-Zn (copper-zinc) massive sulphide mineralization.
• A second, stratigraphically lower corridor, which correlates with the known V zone, may represent the root system of a volcanogenic massive sulphide (VMS) deposit.The property's highest-grade intersection to date, 2.78 per cent Cu, 16.9 g/t Ag over 24.7 metres (refer to press release dated Oct. 14, 2014) was drilled along this corridor. The gravity survey identified a new, high-density target along this trend, located below the known C lens. This target constitutes another high-priority drill target on the Clinton project.

Exploration targets and follow-up work

Some of the gravity anomalies can be prioritized for the follow-up work, both located to the north of the grid and in the vicinity of known mineralized lenses. They are indicative of sources in positive density contrast with the host rocks which show interesting continuities, laterally and/or at depth.

These developments position Fancamp's Clinton project, in a past-producing area, as a prime target for further development, or optioning out, joint venture or other means of monetization, a reflection of Fancamp's strategy to create accretive value. Fancamp intends to pursue and evaluate potential strategic partners in order to jointly advance and expand on the new success at Clinton, as the company's highly prospective copper asset.

The gravity survey at Clinton targeted the 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 Mt (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. A qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves and accordingly should not be relied upon.

About the gravity method

Gravity survey is a geophysical method that measures variations in the Earth's gravitational field. The method allows the determination of density contrasts within the subsurface. Greater density, such as that caused by massive sulphide deposits, will typically generate a stronger gravitational pull than the surrounding host rock. Gravity surveys are thus a great tool to locate buried deposits in geological environments such as those found in VMS districts, and are thus a great tool to locate buried deposits in geological environment such as that of the Clinton and Stoke projects.

TMC Geophysics of Rouyn, Que., conducted the gravity geophysical survey under the supervision of Joel Simard, PGeol/Geoph, of St-Donat, Que. Mr. Simard also performed the detailed analysis and interpretation of the resulting data.

About the Clinton project

The wholly owned Clinton project is located in the Appalachian region of Southern Quebec, an area with a proven mining history which hosts highly prospective targets due to geological potential and occurrences of high-grade base metals validated by 5 past-producing copper zinc mines across a 130-km trend. The Clinton project comprises 127 map-designated claims cells, covering 7,471 hectares (74.71 square kilometres). 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 Clinton project is a past-producing mine, characterized by five copper-bearing mineralized lenses, with historical drilling having occurred across multiple exploration programs since 1953. Historic production at the Clinton project reported from 1973 to 1975 includes 122,251 tons mined at an average grade of 2.08 per cent Cu (DV 85-08: Gites mineraux a tonnage evalue et production minerale du Quebec - Claire Lavergne, 1985).

The project area hosts a non NI 43-101 compliant historical resource, contained within five small sulphide lenses A, C, E, F and O totalling 1.52 Mt 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 company 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 company's qualified person, has reviewed and approved the technical disclosure contained in this news release.

About Fancamp Exploration Ltd.

Fancamp is a Canadian mineral exploration company focused on creating value through medium-term growth and monetization opportunities with strategic interests in high-potential mineral projects, royalty portfolio and exploration 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 has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp holds 96-per-cent interests in Magpie Mines Inc., which owns the Magpie property, one of the world's largest undeveloped hard rock titanium (+V) deposits, per USGS data.

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 Inc. in addition to an investment in a near-term cash-flow-generating zinc mine, EDM Resources Inc., in Nova Scotia. 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.

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