Fancamp Announces AGM Results

VANCOUVER, British Columbia, March 26, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the voting results of its Annual General Meeting of Shareholders (“AGM”) held on March 25, 2024, in Montreal, Quebec.

The Corporation announces that all resolutions put forward to shareholders in the Fancamp Management Information Circular (“Circular”) dated February 20, 2024, were overwhelmingly approved. Fancamp also announces that the nominees listed in the Circular for the Annual General Meeting of Shareholders (the “Meeting”) were elected as Directors of the Corporation. The number of Directors has been set at six and Mark Billings, Greg Ferron, Ashwath Mehra, Rajesh Sharma, Mathieu Stephens and Charles Tarnocai have been re-elected to the Corporation’s Board of Directors.

Shareholders at the meeting approved the appointment of Davidson & Company LLP, Chartered Professional Accountants as the Corporation’s auditors for the next ensuing year. The Corporation’s new Omnibus Equity Incentive Compensation Plan (the "Omnibus Plan"), replacing the Corporation’s former stock option plan, was also approved by a majority of the shareholders. An aggregate of 24,093,375 common shares of the Corporation ("Common Shares") are issuable pursuant to the exercise of stock options, restricted share units, deferred share units and performance share units of the Corporation issued or issuable under the Omnibus Plan, representing 10% of the issued and outstanding Common Shares as of March 25, 2024. The Omnibus Plan remains subject to the final approval of the TSX Venture Exchange.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration company focused on creating value through medium term growth and monetization opportunities with its strategic interests in high potential mineral projects, royalty portfolio and mineral properties. The Company is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario and Québec, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Company 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 Minerals Inc., in addition to an investment in a zinc mine planned to be restarted in Nova Scotia. The Company 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 Company is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

Further information of the Company can be found at: www.fancamp.ca

For Further Information

Tara Asfour, Director of Investor Relations

+1 (604) 434 8829

tasfour@fancamp.ca

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.