This could very well be our strongest News Release to date. This latest News Release indicates a few key ingredients we’ve been waiting for:

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Bullet Points:

1- Lac Lamalee (aka: Lamellee Lake) is the first time Fancamp Exploration owns a 100% owned property with probable massive amounts of ore.

2- They intend to drill Lac Lamalee ASAP.

3- Now Pat can not sell his half to Champion.

4- FNC traded 375000 shares @ $2.82, or $1,057,500, or 50% of a property that could bring $100,000,000 eventually -perhaps several times that and with no dilution.

This acquisition is important because geophysics indicate that our Lac Lamalee deposit is equal to or greater to the iron ore of Champion’s FireLake North deposit.

“The project (Firelake North) demonstrates a US$1.6 billion NPV at a 5% discount basis on an annual concentrate production of 7 million tonnes over a 14 year mine life.”

http://www.championminerals.com/projects/fermont/

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Expanding the Discussion:

Also the news release likened it to ArclorMittals’s Fire Lake mine and Consolidated Thompson/Cliffs Lamelee deposit.

“The property consists of 29 claims and covers 1537 hectares (3843 acres) and is centrally located, 10 km northwest of Arcelor Mittal's operating Fire Lake mine and 5 km south of Consolidated Thompson's Lamelee deposit, with its stated 43-101 compliant indicated resource of 641,719,200 tonnes @ 30.3% Fe oxide (Lamelee-Peppler Iron Property 43-101 Technical Report August 29, 2009).”

http://tmx.quotemedia.com/article.php?newsid=38624132&qm_symbol=FNC

“No drilling has been recorded on the property and it is the Company's intention to embark on such a programme as soon as possible.”

A phone call today revealed that FNC is actively assembling a drill team for Lac Lamalee.The implications of Fancamp possessing a 1 billion plus NPV property in addition to Magpie, creates a target on FNC’s back –again- because we are undervalued at our present SP.

1) CHM 17.5% - between $.80 and $1.00

2) CHM NSR - (1.5%NSR of 1.6billion = 24million)/60million = .40c

3) Easily mined Magpie estimated 1.1 billion tons of ore containing 32%iron and titanium.

4) RGX shares.

5) Other grassroot properties

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Larger Picture:

Obviously investors haven’t placed the last Fancamp news release in perspective. Let’s look at the big picture. Labrador Trough/Fermont Area consolidation has begun when Cliffs bought Consolidated Thompson for 4.9billion last month.

http://jutiagroup.com/20110215-opportunity-in-the-rejuvenation-of-canada%E2%80%99s-iron-ore-sector/

http://www.consolidatedthompson.com/s/NewsReleases.asp?ReportID=437246&_Type=News-Releases&_Title=CONSOLIDATED-THOMPSON-IRON-MINES-LIMITED-TO-BE-ACQUIRED-BY-CLIFFS-NATURAL-R...

http://www.steelorbis.com/steel-news/latest-news/cliffs-to-increase-iron-ore-exports-fivefold-this-year-583726.htm

http://www.canada.com/business/fp/Chinese+steelmaker+eyes+Canadian+joint+venture/4300461/story.html?id=4300461

Due to Champions enterprising efforts to raise international awareness and investment into Fermont, there will be strong interest once FNC discover’s ore at Lac Lamalee. Both FNC and CHM management anticipate competitive offers for Fermont, where Lac Lamalee will likely be negotiated into the deal.In the meantime, once Fancamp has assays back, CHM may have doubled their ore as they explore Moire Lake and more of Section II. This will create sharp shooters for FNC takeover and make a Lac Lamalee IPO necessary –in addition to the current Magpie IPO.

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Anticipated News Releases:

News releases we can anticipate soon:

1) PP closing with disclosed participants. 2) Magpie metallurgical results (as of today, paperwork is being completed for NR). 3) FNC is not aware of the reason for sudden SP increase above $1.00. 4) Magpie evaluation and closing date –oversubscribed

News releases shortly after:

1) Lac Lamalee drilling begins. 2) FNC offers Magpie direct ownership to FNC shareholders. 3) Lac Lamalee Visuals are known (not a news release, but Majors sign non-disclosure agreements. 4) Lac Lamalee IPO. 5) Lac Lamalee direct ownership

-StockGreed