Fancamp updates on the progress of its Titanium Technology Development as a complement to the industry covering feed stock to recovery of waste streams and other corporate matters
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
February 23, 2022 TSX-V Trading Symbol: FNC
Fancamp updates on the progress of its Titanium Technology Development as a complement to
the industry covering feed stock to recovery of waste streams and other corporate matters
VANCOUVER, British Columbia - Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX
Venture Exchange: FNC) is pleased to announce that it has advanced its application for six patents
internationally for developing titanium technology. These patents are designed to complement
existing industry processes and waste recovery in the mining and pigment industry. The six patents
filed are as follows:
Fines agglomeration to allow recovery and ability to make pigment from what was
historically a yield loss on feed.
Upgraded TiO2 feed stock that competes with sands and synthetic rutile (from melting).
Upgrading slag by reducing salt metals like magnesium and calcium to make it
compatible for the chloride process.
Selective recovery of critical elements such as rare earths from titanium iron rich
resources.
Production of titanium metal from off spec pigment and bag house dust.
Production of titanium metal for the expanding 3D printing market.
Agglomeration: Fancamp has filed a patent for the process of recovery of bag house dust fines
from chloride process generally used by the pigment industry worldwide. In the Western world this
process represents 80% of the pigment produced. It continues to grow in total percentage due
to environmental challenges associated with the sulphate process. This solution is intended to
eliminate the loss of 6 to 15% of the feed to the bag house as fines.
Upgraded TiO2: Fancamp has produced an upgraded feed stock acceptable for both the main
processes used for pigment production from its wholly owned Mingan resource, located in Havre
St Pierre region which is well known for supplying feedstock to the titanium industry. This resource
has a starting grade of 35% TiO2 and was successfully upgraded , without requiring melting , to
over 80% TiO2 acceptable for both sulphate and chloride process es. Testing was performed in
the independent laboratories of Corem in Quebec City.
This new process allows for a product that meets the specifications of the chloride process without
the need for melting and respects the rigid limitations for salt metals. This is a v ery compact
operation that eliminates extra steps to lower the salt metals, many of the challenges associated
to other processes with acid/water balances and size of plant . The chemical results of the
product are as follows:
Element % Element %
TiO2 86.34 MgO 0.338
SiO2 0.508 MnO 0.064
Al2O3 1.6 V2O5 0.004
Fe2O3 5.518 FeO 1.404
This product worked well in the sulphate process digestion as well with over 96% recovery.
Selective removal of salt metals in synthetic rutile (slag) with a selective leach: Most hard rock
resources that have good grades of TiO2 amenable to upgraded TiO2 through pyro metallurgy
have a problem with salt metals like MgO concentrating with the TiO2. In keeping with the theme
of a complement to the existing industry, Fancamp’s new method selectively removes salt metals
without leaching TiO2 and iron, thereby eliminating the need for acid regeneration. This process
is very compact with a low capex, less expensive construction materials and has a significant
advantage for water acid balances.
Selective recovery of critical elements from titanium iron rich resources: Fancamp has developed
an efficient and cost-effective selective leach of low titanium mineral resources and focuses on
critical elements such as rare earths, vanadium and scandium. This process allows the recovery
of these elements without having to use up the acid on titanium and iron which drives the costs
up. This process can facilitate exploitation of previously uneconomic low grade titanium mineral
deposits as well as waste streams accumulated by pigment producers. The theme of a
complement to the industry is re-emphasized. Many deposits around the world are not ideal for
the iron and steel industry due to being contaminated with titanium and many are too low in TiO2
for the pigment industry. These resources often have interesting rare earth critical elements such
as scandium and vanadium that this process helps to unlock the value of.
Titanium metal: This process can convert resources or waste streams from the industry, be it off
spec pigment, bag house dust fines or other items into valuable titanium metal. Test work is in
advanced stages and Fancamp is evaluating options for a pilot plant and has begun discussions
with potential partners. This process is a complement to industr ies with off spec material and
waste streams like fines. Fancamp is able to convert these materials into valuable titanium metal
($30,000/metric ton) and reduce losses incurred in the production of pigments. Fancamp sees
growth potential in converting titanium to meet the needs of the growing 3D printing industry.
Enrico Di Cesare, Fancamp’s technical expert in directing the development of these new
technologies stated “We are pleased to report on these new developments in the efficient
recovery of high grade titanium, rare earths and other critical metals from waste, in addition to
Fancamp’s wholly owned resources in Quebec. All the developments take into account usable
by products that are salable to help reduce the environmental footprint. We will be actively
continuing discussions with the industry for win - win partnerships”
The Corporation is pleased to announce that it has entered into an investor relations agreement
(the "Agreement") with MI3 Communications Financieres Inc. ("MI3"). The Agreement is for a term
of one year, which may be terminated earlier at any time upon 30 days' written notice by either
party. In consideration for the services of MI3, the Corporation has agreed to pay a fee of $3,000
per month. Pursuant to the Agreement, the Corporation has granted MI3 a stock option to
purchase up to 250,000 common shares of Fancamp, at a price of $0.12 per share, for a period
of 5 years with vesting over one year, in three -month increments. MI3 is not related to the
Corporation and does not have any direct or indirect material interest s in Fancamp or its
securities, other than the stock options as described above.
In addition, the Corporation has granted options to acquire up to a total of 1,070,000 common
shares of the Corporation to employees and consultants, pursuant to the Corporation's Stock
Option Plan, at the exercise price of $0.12 per share for a period of five years.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added
strategy of advancing its priority mineral properties through exploration and innovative
development. The Corporation owns numerous mineral resource properties in Quebec, Ontario
and New Brunswick, including chromium, strategic rare-earth metals, gold, zinc, titanium and
more. Fancamp’s chromium properties in the highly sought-after Ring of Fire in Northern Ontario
are strategically located. Its rare earth element properties in Quebec are a special focus.
Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, in
addition to an investment in a zinc mine planned to be restarted in Nova Scotia. Fancamp is
developing energy reduction 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.
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, forecasts,
estimates, expectations and objectives for future operat ions 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 that are not historical facts and are generally, but not
always, identified by the words “expects ,” “plans,” “anticipates,” “believes,” “intends,”
“estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”,
“would”, “may”, “could” or “should” 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 it 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 fact ors 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
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.