Oct 27, 2010 15:16 ET

Fancamp Announces VTEM Survey, Financing and Acquisition of Brompton Copper Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2010) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. ("the Company") wishes to announce an agreement with Geotech Ltd., the proprietors of the VTEM Airborne EM system, whereby this system will be used over the grassroots properties of the Company's "Quebec Appalachian Group" some 25 individual blocks, including the Beauce, covering some 163,000 hectares. This survey, to begin immediately, consists of approximately 13,800 line kilometres to be flown over this historical showing rich region, much of it untested by modern geophysical methods. The identification of many heretofore untested conductive targets is expected, and the survey itself will be monitored in real time by geologists familiar with the exploration history of the region. Potentially economic target types could include VMS, skarns, sedex, including syngenetic gold deposits, and ultramafic related Ni Cu PGM deposits.

The cost of the survey will be covered by a new financing of $2,000,000 through the sale 3,725,490 flow-through common shares at a price of $0.51 per share and 219,780 common shares (non flow-through) at a price of $0.455 per share. No commissions will be paid in connection with this financing.

The Company also wishes to report the option of the Brompton Copper Property, situated some 18km NE of Sherbrooke in Quebec's Eastern Townships. The property contains an historic non 43-101 compliant resource of 371,187 tons of 1.95% Cu in the so called "north zone" and 90,700 tons grading 1.4% Cu in the "south zone" (GM 49121,23) A qualified person has not done sufficient work to view the quoted numbers and they should not be relied upon. The prospective ultrabasic host structure has some 3.4 km strike length on the property, and as yet only 0.6 km has been tested, mainly to depths of less than 200 metres. This property will of course be covered by the present VTEM survey. The option terms oblige the Company to make aggregate cash payments of $55,000 issue 275,000 common shares of Fancamp, and incur $175,000 in exploration expenditures over a three year period, to acquire a 100% interest. One half of a 2% NSR can be bought back for $1M.

Following completion of the new camp, drilling is scheduled to commence on the McFauld's Property on November 1st, beginning with the VMS target in C-2 and proceeding to deep drilling on C-1.

ON BEHALF OF THE BOARD

Peter H. Smith, PhD., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

For more information, please contact

Fancamp Exploration Ltd.
Peter H. Smith, PhD., P.Eng.
President
514-481-3172
www.fancampexplorationltd.ca
or
Bay Street Connect Investor Relations
Michael D'Amico
647-500-6023