Fancamp Exploration Announces Launch of Drill Program at Clinton Property - Seite 2

Figure 1: Clinton Project Scope of IP Survey

The programs completed on the Clinton Project to date have given the Corporation’s technical team a better understanding of the project and highlighted the potential of expanding the footprint of known mineralization beyond the previous limits. Fancamp is encouraged to continue to explore this project and build on the vast data collected, given previous significant intersections of sulphide copper mineralization across various lenses and extensions, including 3.0 metres at 0.72% Cu, 2.87 g/t Ag and 0.02 g/t Au (refer to press release dated August 17^th, 2022). Clinton remains a priority exploration property given that it hosts a series of Cu–Zn rich VMS mineralization lenses extending over a 5-kilometre north-east horizon and encompasses around 20 kilometres of favorable stratigraphy within the Clinton River volcano-sedimentary belt, where previous work indicated most mineralized lenses at Clinton are open at depth and some lenses (such as lenses A and E) remain open along strike.

Fancamp aims to advance promising projects such as Clinton in order to maximize shareholder value through reliable compilation and interpretation of data collected across various geophysical surveys, and supported by historical work, which in this case further validates that the Clinton Project hosts significant sulphide copper mineralization potential.

About the Clinton Project

The Clinton Project is underlain by a folded and faulted bimodal volcanic sequence. It hosts a series of Cu–Zn precious metals volcanogenic massive sulphide mineralization lenses extending over a 5-kilometre NE horizon. The project is situated approximately 20 kilometres southwest of the town of Megantic, north of the Maine border. The Clinton Project covers approximately 20 kilometres of favorable stratigraphy of the Clinton River volcano-sedimentary Belt.

The project area hosts a non-43-101 compliant historical resource, contained within five small sulfide lenses A, C, E, F, and O totaling 1.52 Mt at 2.02% Cu and 1.54% Zn [MRNFQ Fiche de Gite 21E07-0007]. A qualified person has not done sufficient work to classify the historical estimate as current mineral resource. The Corporation is not treating the historical estimate as current mineral resources.

Qualified Person

The technical information contained in this press release was reviewed and approved by François Auclair, Pgeo, M.Sc. Vice President Exploration of Fancamp, designated as a Qualified Person under National Instrument 43-101. M Auclair, the Corporation’s qualified person and an officer, has reviewed and approved the technical disclosure contained in this news release.