Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
May 18, 2023 TSX-V Trading Symbol: FNC
Fancamp Reports on Shining Tree Gold Property Exploration
Program Joint Venture with Platinex
VANCOUVER, British Columbia – May 18, 2023 - Fancamp Exploration Ltd. (“Fancamp” or the
“Corporation”) (TSX Venture Exchange: FNC) is pleased to share the recent program updates
and announcement made by Platinex Inc. (CSE:PTX) (“Platinex”) with regards to the Shining
Tree Gold Property, in which the Corporation holds a 25% interest through South Timmins Mining
Inc. ("Goldco"), a joint venture with Platinex Inc. (refer to news release dated March 1 4, 2023).
GoldCo’s Shining Tree Gold Property is strategically located in the South -West region of the
Abitibi Greenstone Belt, the world's largest 2.7-billion-year-old mineral-
rich greenstone geological belt, which hosts numerous major gold and base metal deposits, and
predominant gold producers (refer to Figure 1).
Fancamp is encouraged by the timely commencement of the exploration program at the Shining
Tree Gold Property which follows on Platinex’s 2022 reconnaissance geochemical and
prospecting programs (refer to Platinex Inc. release dated December 7, 2022 ) and the recently
announced joint venture between the Parties in relation to the advancement of properties in the
Abitibi Greenstone Belt through GoldCo.
Part of Fancamp’s mission is to invest in highly prospective projects and near -term producing
assets in order to monetize and generate meaningful returns for shareholders The Shining Tree
Gold Property is of great significance to Fancamp given the geological and regional aspects of its
location and the previous work conducted by Platinex which delineated areas of interest which
could result in high-grade mineralization potential.
Platinex, operator of the Shining Tree Gold Property, is now focused identifying new gold targets
in highly prospective but underexplored regions of the 225 km 2 land package, with initial work to
commence in highly prospective Areas 2 and 3. From previous work programs conducted by
Platinex, these targets indicated several anomalous soil samples with gold values that coincide
with the probability that Au-mineralization may be present (refer to Figure 2 and Platinex Inc.
press release dated May 17, 2023).
For further information on the exploration program operated an d led by Platinex at the Shining
Tree Gold Property , and reference to previous work conducted on the property as referenced
above, refer to press release by Platinex Inc. dated May 17, 2023.
Figure 1: Platinex – Fancamp Joint Venture Property Locations
Figure 2: Shining Tree Gold Project Target Areas
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 inn ovative
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 investm ents 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, the closing of
the Offering, the receipt of regulatory approval, completion of the Agreement, forecasts,
estimates, expectations and objectives for 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 of fact that are not historical facts or are events or
conditions that may 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 i t 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 that 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 update 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.