Fancamp Announces Strategic Acquisition of Riley Brook Claims in New Brunswick Prospective Copper-Gold Region
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
July 8, 2024 TSX-V Trading Symbol: FNC
Fancamp Announces Strategic Acquisition of Riley Brook
Claims in New Brunswick Prospective Copper-Gold Region
VANCOUVER, British Columbia – July 8, 2024 - Fancamp Exploration Ltd. (“Fancamp” or the
“Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the recent acquisition by
claim staking of 1,404 claim units in New Brunswick, the Riley Brook property, located approximately
25 kilometers south of Puma Exploration’s Williams Brook Project. Riley Brook is located within the
highly prospective Appalachian geological province, the location of several recent major gold
discoveries such as New Found Gold’s Queensway Project. Fancamp’s staking of the Riley Brook
property, as part of its grassroots generative program, is highly strategic given its jurisdiction within
a new prospective area for both copper and gold mineralization over a large area with underexplored
potential for gold mineralization associated with an underlying geology of Devonian volcano-
sedimentary stack belonging to the Wapske Formation (refer to https://bit.ly/3VTvZUD).
The Riley Brook property is located in a recognized mining-friendly jurisdiction with a sizeable land
package of approximately 309 km2 situated between the Rocky Brook Millstream Fault and
Woodstock-Catamaran Fault. Both are major orogenic structures in the Appalachian region,
potentially serving as significant controls for gold deposition and other types of mineralization. Such
structures are key to large orogenic gold deposits in the Appalachian, exemplified by New Found
Gold’s Queensway Project.
François Auclair, Vice President Exploration of Fancamp Exploration comments, “With this new
addition, Fancamp has established a notable land position in one of the most attractive mining
jurisdictions in Canada, demonstrating the Corporation’s expertise in adeptly delineating what could
transform into a future flagship project. This property has seen little modern exploration and will allow
Fancamp’s technical team to conduct systematic exploration, within a highly prospective mineralized
trend which has demonstrated significant Cu-Au mineralization.”
A compilation of historical work indicates the presence of zinc, lead and/or silver of the intermediate
sulfidation type throughout the property in areas such as Mable Brook, Stewart Peaks South and
Blue Mountain Lake (refer to https://bit.ly/4eqT4Xb). Alteration characteristic of epithermal type
mineralization, such as silicification, kaolinization, sericitization, potassic alteration, hematization and
pyritization have been recognized in historical drilling performed over the property1. These key
features identified during the compilation of historical work programs also highlight the strong
potential for porphyry – epithermal type mineralization on Riley Brook.
Fancamp will initiate an exploration program this year which will aim to better understand the geology
and mineralization of the area, as well as define the extent of potential copper-gold mineralization.
The Corporation has initiated a soil sampling program, and further work will include rock sampling,
stripping and channel sampling on copper-gold mineralized horizons. The soil sampling program will
cover three large zones in an area where historical till and stream gold anomalies were delineated
by regional reconnaissance work programs from the New Brunswick Government. The Corporation
also intends to carry out a large prospecting program to prioritize exploration work in the vicinity of
the most favorable gold-copper zones.
Fancamp is also pleased to announce that it has received the New Brunswick Junior Mining
Assistance Program Grant of CAD $50,000 for 2024. The funds will be applied towards a soil assay
and prospecting program at Riley Brook. The Corporation thanks the New Brunswick Department of
Natural Resources and Energy Development for this inaugural support.
Qualified Person
The technical information contained in this press release was reviewed and approved by François
Auclair, P.Geo, M.Sc. Vice President Exploration of Fancamp, a Qualified Person under National
Instrument 43-101.
About Fancamp Exploration Ltd. (TSX-V: FNC)
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, Québec 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., in addition to an investment in a zinc mine planned to be restarted 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.
Further information of the Company can be found at: www.fancamp.ca
1 Mattagami Lake Exploration, 1981 – NB Work Report 472733, Freewest Resources, 1994 – NB Work Report 474447,
Connecticut Development Corp., 1995 – NB Work Report 474997
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
Canadian securities legislation. Such forward-looking statements herein include, without limitation,
statements regarding the proposed Riley Brook exploration program, the Company’s expectations
in respect of the Company’s various investments in, and joint venture with, other mineral exploration
and development companies; the Company’s 2024 exploration program; the Company’s anticipated
advancement of its titanium technology; and the timing and result of various activities. Statements
including forward-looking statements are made as of the date they are given and, except as required
by applicable securities laws, the Company disclaims any intention or obligation to publicly update
or revise any forward-looking statements, whether as a result of new information, future events or
otherwise.
Forward-looking statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued operation of the mineral companies in which the Company
has invested, the Company’s ability to maintain its current percentage shareholdings in such
companies, the conditions in general economic and financial markets; the price of gold, silver and
titanium; timing and amount of expenditures related to the Company’s exploration programs; the
availability of additional financing; and the availability and costs of mining equipment and skilled
labour.
Forward-looking statements involve known and unknown involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance or achievements of
the Company to be materially different from those expressed or implied by such statements. Such
factors include but are not limited to changes in the operations of the mineral companies in which
the Company has invested; changes in the Company’s shareholdings in such companies; results of
exploration activities; interpretation of survey and testing results; financial risks due to precious
metals prices; operating or technical difficulties in mineral exploration activities; the speculative
nature of mineral exploration; risks in obtaining necessary licenses and permits; general market and
industry conditions; and the availability of additional financing. Although the Company has attempted
to identify important factors that could cause actual results to differ materially from those contained
in forward-looking statements, there may be other factors that cause results to be materially different
from those anticipated, described, estimated, assessed or intended. There can be no assurance that
any forward-looking statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
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.