Fancamp Pleased with Magpie Metallurgy Test Results

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 PLEASED WITH MAGPIE METALLURGY TEST RESULTS

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

Fancamp Exploration Ltd. (TSX Venture Exchange - FNC) (the “Company”) is pleased to announce that The Magpie Mines Inc. has received the final report and results of Phase I of metallurgical test work conducted by COREM in Quebec City. COREM reported producing a 94.8% concentrate of titanium oxide (TiO2) with leaching recovery of 88.5%. Furthermore, it was reported that up to 70% (by volume) of the hydrochloric acid was recoverable.

Management considers these results to be highly successful and supports the position that the Magpie mineralization can be exploited for iron, titanium, vanadium, chromium and other elements.

The proprietary process used by COREM involves the leaching of Magpie titaniferous ore in hydrochloric acid under atmospheric pressure conditions and at temperatures between 70-80°C.

Phase II metallurgical tests, which are expected to commence in August, 2011, will consist of the fine-tuning of Phase I to further improve recovery and the purity of the recovered TiO2, together with the recovery of vanadium (V).

Phase III will consist of a mini-pilot plant scale test for the production of highgrade iron oxide and acid regeneration using well-established oxyhydrolysis methods. Phase III tests are expected to commence in October 2011.

Fancamp holds a 47% interest in The Magpie Mines Inc.

This report was prepared by the Company’s qualified person respecting this work, Fouad Kamaleddine PhD, P.Eng

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 or Michael D’Amico, Bay Street Connect Investor Relations at 647-500-6023

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.