Fancamp Acquires Interest in Strategic Iron Properties in the Fermont Iron Ore District

FANCAMP EXPLORATION LTD.

7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2 Telephone: 604-434-8829 Facsimile: 604-434-8823 Web site: www.fancampexplorationltd.ca

NEWS RELEASE

FANCAMP ACQUIRES INTEREST IN STRATEGIC IRON PROPERTIES IN THE FERMONT IRON ORE DISTRICT

January 17, 2011 TSX Trading Symbol: FNC S.E.C. Exemption: 12(g)3-2(b)

Fancamp Exploration Ltd. (TSX Venture Exchange - FNC): Fancamp Exploration Ltd. (the “Company”) wishes to announce the acquisition of a 17.5% working interest in Champion Minerals Inc.’s newly acquired Black Dan and East Inlet iron properties, located in the Fermont Iron Ore District, Labrador Trough, Quebec.

These properties border on the Penquin Lake and Audrey-Ernie Lakes claims and provide further iron mineralization to the already significant iron portfolio.

Refer to the Champion website, in particular the news release of January 22, 2011, for further details – www.championminerals.com.

ON BEHALF OF THE BOARD

“Peter H. Smith”, PhD., P.Eng., President

For further corporate information, contact: Peter H. Smith, PhD., P.Eng., President, at 514-481-3172

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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