Fancamp New CFO Appointment and Corporate Update
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
November 28, 2024 TSX-V Trading Symbol: FNC
Fancamp New CFO Appointment and Corporate Update
VANCOUVER, British Columbia – November 28, 2024 - Fancamp Exploration Ltd. (“Fancamp” or
the “Corporation”) (TSX Venture Exchange: FNC) announces that Ms. Debra Chapman has decided
to retire from her position as Chief Financial Officer (“CFO”) of the Corporation and she will be
succeeded by Mr. Arnab Kumar De who has been appointed as the CFO with immediate effect.
Fancamp is pleased to report that Ms. Chapman will serve as a member of the Corporation’s Advisory
Board. Ms. Chapman has been an integral part of Fancamp since its inception and made a stellar
contribution to Fancamp’s progress in various capacities, including those as CFO and Board Member.
Mr. Dean Journeaux has been re-appointed to the Advisory Board.
Mr. Arnab Kumar De, CPA, CGMA, CMA, MBA, is a strong, seasoned executive with more than 20
years of experience in financial management, financial planning, business optimization and strategy
development. He is a principal of Resurgent Montreal Inc., a financial management consulting firm.
Mr. De provides CFO and financial advisory services to several public and private companies in the
mineral exploration sector, among others.
The Corporation has granted stock options (“Options”) to Mr. De, exercisable into 500,000 Common
Shares of the Corporation. The Options have an exercise price of $0.08 per Common Share, which
expire after 5 years following the date of grant and will vest immediately.
Mark Billings, Chairman of the Corporation’s Board comments; "The Board would like to thank Debra
for her immeasurable contribution and dedication over the years. Fancamp is fortunate to receive her
continued guidance and involvement moving forward as a member of the Advisory Board. We are also
pleased to welcome Arnab as our new Chief Financial Officer, an exciting addition to our executive
team with his deep familiarity of the resource industry and years of experience providing strategic and
financial services."
Other Corporate Updates
Fancamp, as operator of the Acadian Gold Corp. (“Acadian Gold”) 50-50 joint venture with Lode Gold
Resources Inc., is pleased to report progress regarding the exploration activities at the McIntyre Brook
and Riley Brook properties. Acadian Gold is focused on the development of a district scale Au-Cu
property in New Brunswick, as announced on August 27, 2024, and October 9, 2024, located in a
highly prospective geological domain that hosts other gold-focused firms such as Calibre Mining, with
one property adjacent and on trend with Puma Exploration’s Williams Brook Project, subject of an
option agreement with Kinross Gold Corp.
Field work was initiated in October with 3,195.3-line kilometres airborne geophysics surveys (Mag,
EM, Radiometric), leveraging the Xcalibur Smart Mapping HeliTem2 system over both properties,
McIntyre Brook and Riley Brook. The program also includes trenching over select areas on McIntyre
Brook as well as mapping and prospecting over Riley Brook. The ongoing work plan includes the
completion of a soil Geochem survey on McIntyre Brook and initial compilation of results.
Further, Fancamp has initiated a Gravity Survey at its wholly-owned Clinton volcanogenic massive
sulfide (“VMS”) project, situated in the Appalachian region of Southern Québec, one of the top
jurisdictions globally in terms of attractiveness for exploration investments (Annual Survey of Mining
Companies 2023, Fraser Institute). The survey will cover 50-line kilometres in the northern part of the
property, with lines spaced every 100 metres and reading stations every 25 metres along the lines.
The survey will investigate the potential of identifying deep seated VMS lenses under the known
mineralized occurrences of the Clinton property, which hosts historic production that occurred during
the 1970’s and multiple copper-bearing mineralized lenses. Particular attention will be given to the
favorable horizon hosting the “AB”, “C”, “D”, “E” and “O” lenses.
Fancamp will also initiate a helicopter borne VTEMTM survey over the southeastern part of its wholly-
owned Grasset property, located in the Detour-Fenelon Gold Trend of the northern Abitibi region,
situated 30 kilometres northwest of the Matagami mining camp. The helicopter borne VTEMTM time-
domain electromagnetic and horizontal magnetic gradiometer surveys will be conducted by Geotech
Ltd. The program will consist of a 665-line kilometres survey, with line spacing at 100 metres and flight
altitude clearance of 35 metres. The aim of the survey is to investigate the potential for the
occurrences of Ni-Cu or Cu-Zn massive sulfide type mineralization. Grasset is positioned within a
favorable volcanic belt known to host significant gold and base metal occurrences, approximately 35
kilometres east of Wallbridge Mining Company’s Fenelon Gold deposit and on the same greenstone
belt which hosts the prominent Detour Lake open-pit gold mine in Ontario (Agnico Eagle Mines Ltd.).
Fancamp’s shareholding in KWG Resources Inc., carrying on business as the Canadian Chrome
Corporation (KWG), has increased progressively further due to the quarterly issue of shares in lieu of
interest payments for the Fancamp Secured Convertible Promissory Note for $34.5 million in KWG.
The Corporation now owns an equivalent of ~2.29 million Multiple Voting Shares of KWG, which is
~10.2% of issued and outstanding shares of KWG. The Corporation has earned an aggregate dividend
income of $1.08 million in 2023 and 2024 from its investment in Champion Iron Limited (CIA).
Fancamp participated in a recent private placement in EDM Resources Inc. (EDM), a mining company
focused on near term zinc production, to maintain its ~11.0% stake in the company. This private
placement will enable EDM to progress the environmental permitting plan and move closer to financing
the investment required for commencement of production. EDM continues to offer significant upside
to Fancamp as it moves towards production at the shuttered zinc mine and plant 75 kilometres north
of Halifax, Nova Scotia.
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.,
a copper–gold exploration company, Platinex Inc., an opportunity to develop an emerging gold-copper
exploration play with Lode Gold Resources, in addition to an investment in a near term cash flow
generating zinc mine, EDM Resources Inc. 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
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
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.