Found this on Stockwatch...... interesting.

FANCAMP EXPLORATION LTD.

7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2

Telephone: 604-434-8829 Facsimile: 604-434-8823

http://www.fancampexplorationltd.ca/">www.fancampexplorationltd.ca

2010 ANNUAL REPORT

The Company operates on two levels, the grassroots exploration level and the more advanced exploration level with in-view economic prospects.

In the first instance the object is to identify potentially economic deposits – the discovery stage- where exists the greatest leverage in the case of success. In another sense, this activity c+an be described as a kind of “risk management” the object of which is to generate the maximum number of targets for least cost. Properties in this category include first and foremost, the 100% owned Quebec Appalachian Group, some 25 properties covering 408,000 acres including the Beauce, and which are currently being explored by reconnaissance drilling together with a proposed 13,300 line kilometre airborne VTEM survey. Management expects this survey to identify a large number of heretofore untested targets in this historical showing rich region. Other properties in this category include the 100% owned Norway Lake and Red Paint Lake gold properties, tied onto the 6.4M oz. Au Brett Resources property in NW Ontario, as well as the 50% owned Desolation Lake Property, NE of Attawapiskat in the James Bay Lowlands, the site of a deeply buried, strong magnetic anomaly, which could prove to be a major prospective Ni PGM target.

The second property group comprises those with more immediate economic prospects.

At the top of this list is the retained 17.5% working interest of the Fermont Iron Property Group of Champion Minerals Inc., which is currently on course to develop a 43-101 compliant inferred resource of approximately 1.4 Billion tonnes of 28-30% Fe2O3 on only 3 of 15 properties in the group. Also to be included here is the 50% owned Lac Laméllée Property, as yet undrilled, but which possesses an airborne magnetic signature of similar intensity and size to that seen on Consolidated Thompson’s presently producing Bloom Lake Property some 50 km to the north. Other properties in this category include the 48.7% owned, world class Magpie titaniferous magnetite deposit , with a non 43-101 compliant historical resource estimated at 1.1 billion tons 43% Fe and 11% TiO2, and not least among these properties is the 100% owned McFauld’s Lake Property, with its Ni,PGM, VMS and Chromite potential.

Success in any one of these many efforts will positively impact the Company’s share price enabling it to finance pursuit of the most viable targets.

Peter H. Smith PhD, P.Eng.