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.

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

Forward-looking Statements

Certain statements contained in this news release may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking information in this news release may include statements about the Corporation’s satisfaction of the conditions of the MCTO and the timing of revocation of the MCTO.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.

The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Corporation, including, without limitation, the expectation that the Corporation has satisfied the conditions in order for the MCTO to be revoked. Although the Corporation believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Corporation can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to risks and uncertainties arising from the revocation of the MCTO and replacement with a cease trade order, general business, economic, competitive, political and social uncertainties and other factors, many of which are beyond the control of the Corporation.

The forward-looking statements contained in this news release represent the Corporation’s expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

For Further Information

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