Fancamp signs option to acquire 100% interest in a hitherto unknown major alkaline carbonatite complex located in Canad a’s Grenville Province, and reports on its recent AGM 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

November 11, 2019 TSX Trading Symbol: FNC

Fancamp signs option to acquire 100% interest in a hitherto unknown

major alkaline carbonatite complex located in Canad a’s Grenville

Province, and reports on its recent AGM results.

Fancamp Exploration Ltd. (“ Fancamp ” or the “ Company ”) (TSX VENTURE: FNC) The Company

is pleased to report the acquisition of an option to purchase 100% interest in the Gouin East

alkaline carbonatite complex, located some 120 km w est of St. Félicien in Québec’s Lac St.

Jean, Saguenay region.

This is a brand new discovery, and has never been e xplored, rather remarkable, given its size

and proximity to infrastructure, 75 km from rail and 25 km from a major power line corridor.

In size and aeromagnetic characteristics (a strong magnetic low) it is directly comparable to

that underlying the operating Niobec Mine, one of three major Niobium producers in the world,

located 215 km to the east. It is moreover, in the same geologic environment and represents

in an exploration sense, an extremely rare opportunity.

The principal target measures some 4 km x 7 km; about 30% larger than Niobec’s magnetic low

signature. No outcrop is present in the core of th e structure which is covered by a flat sand

plain. Current lumbering activities however, have exposed scattered blocks of syenite,

carbonatite and carbonate rich alkaline intrusion material, one block of which assayed 0.54%

Nb 2O5. Marginal outcrops show the presence of radiating p ink syenite dykes from which a

maximum value of 0.10% Nb2O5 was obtained by assay. ( reference: Jean Laforest,P.Geo, 2019)

The acquisition also includes a second, circular intrusive complex of similar scale, some 30km

to the southwest with a distinctive, strong magnetic signature, quite different from that of the

main target. As with the main target, no previous w ork has been reported. This target was

noticed early in the company’s due diligence process, was included in the option package and

is here referred to as the Gouin West target.

This option enlarges further on a Company focus on s trategic metals so critical to the

development of 21 st century technologies. For example, ongoing work on its Baude Lake REE

property is showing interesting recovery results, t o be reported on, and geological

reconnaissance on this property indicates potential for expansion. The alkaline carbonatite

acquisition is very much a part of this framework.

The terms of the option agreement are as follows;

Subject to regulatory approval, the Company is obli ged to pay $35,000, issue 1 million fully

paid common shares of Fancamp and spend $200,000 in the first year of the agreement. All

subsequent commitments are optional. To earn a 100% interest the Company must pay the

vendor an additional $400,000 cash, spend $1M in exploration and issue an additional fully paid

2 million common shares of Fancamp by the end of the third year of the agreement. Additional

payments will comprise $150,000 cash (or issuance o f 2 million fully paid common shares of

Fancamp, at the Company’s choice) on the reporting of an NI 43-101 resource, and finally a

$500,000 cash payment on receipt of a feasibility st udy. A 2.5% NSR will be retained by the

vendor, of which 1.5% can be bought back for $2 M.

The Company also wishes to report the results of the AGM held on October 30 th , 2019 in

Montreal. Approximately 24% of the 153,951,629 share s outstanding were voted, with the

following approval numbers for the four confirmed dire ctors; Peter H. Smith 90.4 %, Paul

Ankcorn 92.5%, Mark Billings 92.5% and Ashwath Mehr a 92.5%. Both the stock option plan and

the auditors were confirmed. The corporate team now consists of Mark Billings CFA, MBA,

Chairman of the Board, Peter H. Smith PhD. P.Eng., P resident and CEO, Debra Chapman,CFO,

Messrs. Paul Ankcorn and Ashwath Mehra, Directors a nd Sébastien Vézina LL.B., Corporate

Secretary. The Company’s substantial working capit al position and access to first class

technical expertise in Messrs. Dallas Davis,P.Eng., Jean Bernard P.Geo, Blaine Webster P.Geo

and Enrico Di Cesare, the Company’s “Tio2 Industri al Synergy Route” manager, points to a

bright future.

The technical aspects of this release have been writ ten by the Company’s Qualified Person,

Jean Bernard P.Geo.

About Fancamp

Fancamp is a public company using a value added strategy ba sed on the acquisition of

potentially valuable assets, adding value through t he selection process itself and subsequent

development work, self-financed or otherwise, followed by disposition, proceeds from which,

are used to finance the same process multiple times. The Company has an exceptional inventory

of resource properties in Québec, Ontario and New Brunswick; commodities of interest include

gold, rare earth elements, strategic metals, base metals, chromium, titanium, iron and silica.

In addition, the Company has begun to build on the industrial possibilities inherent in dealing

with some of these materials. The Company is a repo rting issuer in British Colombia, Ontario

and Québec and its common shares are listed for trad ing on the TSX Venture Exchange under

the symbol FNC.

For further information, please contact

Peter H. Smith PhD., P.Eng.(Ont) – President 1-514-481-3172

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.