Fancamp Files Audited Year End and Interim Financial Statements

VANCOUVER, British Columbia, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) today announced the filing of its audited consolidated financial statement for the year ended April 30, 2023, annual management’s discussion and analysis for the same period and management certifications of annual filings (collectively, the “Annual Filings”). The Corporation also announced the filing of its unaudited interim financial statements for the three months ended July 31, 2023, the management’s discussion and analysis for the same period and management certifications of interim filings (collectively, the “Interim Filings”). The Annual Filings and the Interim Filings can be found under Fancamp’s profile on SEDAR+ (www.sedarplus.ca).

As previously announced on August 29, 2023, the Corporation had been granted a management cease trade order (“MCTO”) from the British Columbia Securities Commission (the “BCSC”) due to a delay in filing of the Annual Filings beyond the deadline of August 28, 2023 prescribed by Canadian securities laws. The MCTO was granted by the BCSC on August 29, 2023. The MCTO prohibits the Corporation’s management from trading in the securities of the Corporation until such time as the Annual Filings and Interim Filings are filed. The MCTO does not affect the ability of any other shareholders of the Corporation to trade securities of the Corporation.

As a result of the delay in filing the Annual Filing, the filing of the Corporation’s Interim Filings had been delayed beyond the filing deadline of September 29, 2023 prescribed by Canadian securities laws.

With today’s filing of the Annual Filings and the Interim Filings, the Corporation believes that it has satisfied the conditions of the MCTO in order to have the MCTO revoked by the BCSC.

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 innovative development. The Corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims encompassing over 147,000 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 investments 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.