Technical Report Filed On Clinton Project

VANCOUVER - Fancamp Exploration Ltd. has filed an independent technical report for the CClinton copper (Cu) - zinc (Zn) property entitled “Clinton Cu-Zn Property, Lac Mégantic, Quebec – 43-101 Technical Report”. The

The Clinton Project is a sizeable 127 claim, 7,470-hectare, VMS (Volcanogenic Massive Sulphide) property located within the Appalachian geological province of the Eastern Townships of Québec, a region which hosts highly prospective targets due to the geological potential and occurrences of high-grade base metals validated by numerous past-producing mines across a 130-kilometre trend. The Clinton Project is located in a Siluro-Devonian thrusted and folded volcanic and sedimentary environment showing volcanogenic massive sulfides (VMS) Cu-Zn-Lead (Pb) mineralized horizons.

The Technical Report describes the historical exploration work completed on the Clinton Project, which was comprised of prospecting, geophysics and drilling concentrated in the 1950’s and 1960’s where 7 main massive sulfide lenses (A, B, C, D, E, F and V) were discovered in the north and center of the property as well as minor ones further south. From 1973 to 1975, a mine was opened to exploit lens O and extract 126,000 tonnes of material with an average grade of 2.74% Cu, 2.86% Zn, 0.53% Pb and 30.79 grams per tonne (g/t) Silver (Ag).

The Technical Report discloses a historical mineral estimate on 5 mineralized lenses totaling 1.8 Mt @ 2.02% Cu and 1.54% Zn, including 20% dilution. This historical mineral estimate predates the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (2014)(the “CIM Definition Standards”) and NI 43-101 guidelines. A qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves and accordingly should not be relied upon. The author and the Company are not treating the historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimate, a qualified person needs to review the historical data, review any work completed on the Clinton Project since the date of the historical estimate and complete a new mineral resources technical report. The author of the Technical Report and the Company view this historical estimate as a conceptual indication of the potential size and grade of the copper-zinc deposit in the area, and this information is relevant to ongoing exploration efforts. The author of the Technical Report is unable to assess the reliability of the estimate given that the methodology has not been disclosed. The key assumptions, parameters and methods used to prepare the historical estimate are unknown as original data, reports and other necessary information is not available, missing or no longer existing. The Clinton Property does not currently have a mineral resource or mineral reserve as defined by the CIM Definition Standards.  

The Company’s recent exploration work on the Clinton Project aimed to identify potential Cu mineralization and successfully extended mineralized lens A further north, as well as mineralized lens E further north and at depth, both which carry mainly Cu and minor Ag, in addition to a major conductive induced polarization anomaly defined to the south. Future work on the Clinton Project was also proposed in the Technical Report aimed at expanding already known mineralized lenses or discovering new ones, which includes a proposed deep penetrating gravity survey followed by a drilling program to test the newly generated targets at depth.