VANCOUVER, British Columbia, September 16, 2021--(BUSINESS WIRE)--Fancamp Exploration Ltd. ("Fancamp" or the "Corporation") (TSX Venture Exchange: FNC) today announced that it has entered into an agreement with Mr. Greg Ferron (the "Agreement"). Mr. Ferron has withdrawn his agreement to serve as a nominee on Mr. Peter H. Smith’s dissident slate, and Mr. Ferron, Frank Hoegel and certain other shareholders will reverse their previous votes and vote FOR Fancamp’s director nominees.

The Agreement aligns the interests of shareholders with the Fancamp Board of Directors (the "Board") and management. Pursuant to the terms of the Agreement:

• Mr. Ferron will be appointed to Fancamp’s Board, replacing Mr. Paul Ankcorn who is resigning. Following the Corporation’s annual general meeting ("AGM"), it is contemplated that Mr. Ankcorn and two other directors will be replaced by Mr. Ferron and two of his nominees who are acceptable to the Board.

• The proposed business combination between Fancamp and ScoZinc Mining Ltd. ("ScoZinc") has been terminated. Instead, Fancamp will purchase, by way of a private placement, 1,969,697 common shares of ScoZinc at $0.66 per share for $1,300,000. The $300,000 termination fee will be credited towards the private placement and Fancamp will pay the balance of $1,000,000. Once the private placement has closed, ScoZinc will appoint one nominee of Fancamp to its board of directors. ScoZinc will also issue 378,788 common shares to Fancamp at a price of $0.66 per share on a shares-for-debt basis to satisfy the $250,000 loan and any other amounts that ScoZinc may owe to Fancamp as part of the loan. This arrangement, which Mr. Ferron supports, will allow Fancamp to benefit from ScoZinc’s production potential and corporate upside. The foregoing is subject to regulatory approval.

• Following the AGM, the Board will advance the Corporation’s strategic plan focused on: exploration properties, titanium technology and strategic alternatives. Fancamp looks forward to working collaboratively with Mr. Ferron and other advisory members.

Vote Your Gold Proxy Today

Shareholders are encouraged to continue voting on the GOLD proxy FOR Fancamp’s director nominees. Fancamp remains committed to holding the AGM as soon as possible and will advise shareholders of a new date in due course.

If you have any questions or need help voting, please contact Kingsdale Advisors at 1-800-749-9890 or contactus@kingsdaleadvisors.com.