Mr. Rajesh Sharma reports

FANCAMP REGAINS CONTROL OF ONE OF THE WORLD'S LARGEST IRON TITANIUM HISTORIC DEPOSITS: ANNOUNCES RESULTS OF MAGPIE MINES AGM

At the annual general meeting (AGM) of the shareholders of Fancamp Exploration Ltd. investment The Magpie Mines Inc., held on July 17, 2025, in Montreal, Que., the shareholders of Magpie Mines voted to set the number of directors at three and to elect Rajesh Sharma, Mark Billings and Charles Tarnocai as the directors of Magpie Mines.

Magpie Mines has appointed the following officers: Mr. Billings as chairman; Mr. Sharma as president and chief executive officer; Arnab Kumar De as chief financial officer; and Debra Chapman as corporate secretary.

"We are pleased to announce that Fancamp has regained control of Magpie Mines, which holds the Magpie deposit, one of the world's largest undeveloped hard rock iron-titanium historic deposits, located in Havre St-Pierre region, a district recognized for its world-class mineral resources and unique geology. Given titanium's strategic importance as a critical mineral in light of the global supply chain challenges, the corporation will determine the next steps to advance this asset," stated Mr. Sharma.

The corporation holds approximately 96 per cent of the issued and outstanding shares of Magpie Mines, along with a 2-per-cent net smelter return royalty on the significant Magpie titanium property.

The Magpie Fe-Ti-V (iron-titanium-vanadium) deposit is one of the world's largest undeveloped titanium resources (Woodruff et al., 2017) and one of the world's largest vanadium deposits (based on data in Kelley et al., 2017). The project is located 90 kilometres north of Rio Tinto's Lac Tio titanium mine and just 10 kilometres west of a Hydro Quebec transmission line from the Romaine 4 generating station.

The Magpie project is made up of Magpie 1, Magpie 2 and Magpie 3 deposits. The Magpie 2 deposit hosts a historical mineral resource estimate of 635.2 million tonnes grading 42.49 per cent Fe, 11.20 per cent TiO2 and 0.3 per cent V2O5 in the indicated category, with an additional inferred resource of 239.2 million tonnes grading 42.29 per cent Fe, 11.21 per cent TiO2 and 0.32 per cent V2O5 (see the April 18, 2012, and June 1, 2012, news releases). This historical estimate predates the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards for mineral resources and mineral reserves (2014). A qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves, the corporation is not treating it as such, and, accordingly, it should not be relied upon. In order to verify the historical estimate, a qualified person needs to review the historical data, review any work completed since the date of the historical estimate and complete a new mineral resource estimate technical report. Magpie 1 and 3 deposits host historical resources, which are not disclosed here as they predate the historical estimate prepared for Fancamp in 2012 (see the April 18, 2012, news release).

While the historical estimate is significant, the project also demonstrates significant expansion potential in four previously undrilled areas that exhibit geological characteristics similar to the main deposit. Titanium and vanadium are critical and strategic minerals with key applications in aerospace, medical technology, specialty steel and batteries; both face global supply chain concerns. Titano-magnetite deposits like Magpie are the principal source for vanadium extraction (Kelley et al., 2017).

Qualified person

The technical information contained in this news release was reviewed and approved by Francois Auclair, PGeo, MSc, vice-president of exploration of Fancamp, a qualified person under NI 43-101.

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 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. The corporation has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp holds a 96-per-cent interest in Magpie Mines, which owns the Magpie property, one of the world's largest undeveloped hard rock titanium (plus vanadium) 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 corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

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