Fancamp Provides Corporate Update

VANCOUVER, British Columbia, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX Venture Exchange: FNC) is pleased to provide a corporate update following the Company’s recently closed private placement announced on December 21, 2023. The Company enters 2024 well capitalized and with a strong balance sheet as it continues to focus on creating accretive value through growth and monetization opportunities in the Canadian resource sector.

Despite a period of economic uncertainty for junior mining explorers, 2023 was a year of positive progress as the Company continued to advance its medium and long-term growth and monetization initiatives. The Company’s key strategies for advancement include (1) establishing strategic interests in high-potential mineral projects, (2) monetizing mineral properties through optioning out or joint venture and by strengthening its royalty portfolio, (3) identifying opportunities to acquire an advanced flagship project and (4) advancing exploration of the highly prospective Company-controlled mineral properties. In addition, the Company plans to further simplify its portfolio of mineral claims, leveraging its assets to create better opportunities to unlock shareholder value.

The Company intends to pursue the above based on a strong foundation of existing assets and initiatives:

• Fancamp’s asset base more than doubled in the past 3 years, having recorded total assets at a value of $53.3 million (October 31, 2023), compared to $24.9 million (April 30, 2020).

• Following the recent closing of a $4.56 million private placement, the Company is well capitalized with a broader shareholder base. The Company plans to increase market exposure and gain momentum through various development targets, with significant liquidity and capital to advance its growth initiatives. The Company holds a portfolio of cash and marketable securities which stands at ~$30 million, with the most significant investment holding being the 2.7 million shares of Champion Iron Limited (CIA). The Company earned a dividend of $540,000 in 2023 through its investment in CIA.

• The Company holds a significant royalty portfolio which includes future finite production payments from the Fermont Properties of CIA, a 1% NSR on the Mallard/Heenan/Dorothy Properties and a 2% NSR on the Koper Lake-McFaulds Property, among other highly prospective land packages with retained interests.

• Critical Minerals Initiatives