Fancamp Announces Agreement for the Sale of Robidoux Mineral Claims
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
January 31, 2023 TSX-V Trading Symbol: FNC
Fancamp Announces Agreement for the Sale of Robidoux Mineral Claims
VANCOUVER, British Columbia – January 31, 2023 - Fancamp Exploration Ltd. (“Fancamp”
or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce that the Corporation
has executed a formal mining claims sale agreement (the "Sale Agreement") with Canadian Gold
Resources Ltd. (“Canadian Gold”) to sell 34 of the Corporation’s mineral claims associated to its
Robidoux Property located in Western Gaspé, Québec.
Rajesh Sharma, President and Chief Executive Officer of Fancamp said, “The sale of the
Robidoux mineral claims is part of Fancamp's strategic process to create value from its vast
portfolio of mineral properties, by either optioning out, entering into joint venture or monetizing its
assets, as in this case earning immediate cash while retaining future interests in the form of shares
and royalty.”
The purchase and sale of the Robidoux Mineral Claims are subject to the terms and conditions of
the Sale Agreement (the "Transaction"). The Transaction’s purchase price as listed in the Sale
Agreement for the Robidoux Mining Claims package is set at $500,000, of which $50,000 is to be
paid to Fancamp by Canadian Gold at the signing of the Sale Agreement, and CAD $50,000 is to
be paid 180 days following the signature date. The Transaction and the transfer of the Min eral
Claims to Canadian Gold is conditional upon Canadian Gold completing an Initial Public Offering
(“IPO”) within fourteen (14) months of the signature date of the Sale Agreement (the "IPO
Deadline") and thereafter issuing shares from the Canadian Gold treasury in a value of CAD
$400,000 to Fancamp. Should Canadian Gold fail to complete an IPO within the IPO Deadline,
the Sale Agreement shall be terminated and Fancamp shall have no further obligations to transfer
the Mineral Claims to Canadian Gold.
As part of this Transaction, Fancamp will be entitled to a 2% Net Smelter Return in respect to
products derived from the Robidoux Property in accordance with provisions of a royalty
agreement to be entered into between the parties.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. is a private mineral development company with Canadian
operations that include three property purchase agreements within the Gaspé, Québec region, all
of which are located on the Grand Pabos Fault.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value -added
strategy of progressing priority mineral properties through exploration and innovative
development. The Corporation is focused on an advanced asset play poised for growth and
selective monetization with a portfolio of mineral claims encompassing over 158,000 hectares
across Ontario, Quebec and New Brunswick, Canada ; including copper, gold, zinc, titanium,
chromium, strategic rare-earth metals and others. The Corporation continues to identify near term
cash-flow generating 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 Corporation , in addition to an
investment in a zinc mine planned to be restarted 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. 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.
Further information of the Corporation can be found at: www.fancamp.ca
Forward-looking Statements
This news release contains certain “forward-looking statements” or “forward-looking information”
(collectively referred to herein as “forward -looking statements”) within the meaning of applicable
securities legislation. Such forward -looking statements include, without limitation, forecasts,
estimates, expectations and objectives fo r future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of the Corporation.
Forward-looking statements are statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”,
“projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”,
“may”, “could” or “should” occur or be achieved.
Although Fancamp believes that the material factors, expectations and assumptions informing
such forward-looking statements are reasonable based on information available to it on the date
such statements were made, no assurances can be given as to future results of such statements.
Such forward -looking statements involve known and unknown risks, uncertainties and other
factors that may cause actual events to differ materially from those anticipated in such forward -
looking statements.
Readers are cautioned t hat the foregoing list of factors is not exhaustive. Statements including
forward-looking statements are made as of the date they are given and, except as required by
applicable securities laws, Fancamp disclaims any intention or obligation to publicly upd ate or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise. The forward-looking statements contained in this news release are expressly qualified
by this cautionary statement.
For Further Information
Rajesh Sharma, President & Chief
Executive Officer
+1 (604) 434 8829
Debra Chapman, Chief
Financial Officer
+1 (604) 434 8829
Tara Asfour, Director of Investor Relations
+1 (604) 434 8829
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this news release.