Headline: Fancamp Announces Ring of Fire ("FNC-ROF") Option Agreement
Symbol: FNC
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2012) - Fancamp Exploration Ltd. (TSX VENTURE:FNC) is pleased to announce that a letter of intent has been entered into with Bold Ventures Inc. ("Bold"), whereby Bold can earn a 50% interest in the Company's McFaulds Lake, Ontario ("FNC-ROF") property by making cash or share payments totalling $1,500,000 and incurring $8,000,000 in exploration expenditures, over a three year period. An additional 10% interest may be earned upon Bold delivering a positive feasibility study and making an additional payment of $700,000.
Richard Nemis, the President of Bold and John Harvey, P.Eng. its Chief Operating Officer were part of the Discovery Team of the famed Noront Eagle One Ni, Cu, PGM Deposit which lies immediately adjacent to Fancamp's FNC-ROF Property. Strong geological evidence arising from Fancamp's work lead the Company to conclude that Eagle One ("Eagle's Nest") is a fault offset of Fancamp's large C-1 ultrabasic target and that high grade Eagle One type sulphides would be found at depth. The deepest Fancamp holes on this target were on the order of 1000 metres depth and downhole geophysics indicated the presence of potentially interesting offhole conductors. The interest of Bold Ventures Inc. in pursuing this and other models is most encouraging and speaks for itself.
The Company is looking forward to its association with Bold and to the continued development of the FNC-ROF Property.
ON BEHALF OF THE BOARD
Peter H. Smith, PhD., P.Eng., President
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
S.E.C. Exemption: 12(g)3-2(b)
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this
