I am not sure I see what all the fuss is about... Two partners, Fancamp, and the Sheridan Group, whom each hold a 50% ownership in this Magpie property, have transferred their ownership of this project to a separate company in exchange for shares and an a standard 1%NSR.

The new company, Magpie MInes, will be taken public, will be the vehicle that will be used to advance this rather substantial project 'under one roof', so to speak. If you read the NR of Octyober 29, 2007 (below), which clearly details the history of this property and how the two parties came to own it, it seems like a reasonable approach to me. Furthermore, given that FNC only has $15,000 invested in it, its not like we shareholders are losing a lot of 'our' money in this deal. FNC has really nothing invested in the project, and stands to gain significantly with the 1%NSR and the capital gain of their new shares in Magpie Mines. FNC could later sell these shares for a profit and raise cash without any further dilution for FNC shareholders - something for nothing (well $15,000) seems to be smart to me.

I suggest you reread the following paragraph of the NR closely:

"The Company and The Sheridan Platinum Group acquired their joint interest in the Magpie property by staking. Fancamp's share of the cost of acquisition for this property is approximately 15,000.00. Due to the challenges presented by this type and size of deposit, it was deemed that the most effective way to proceed would be to sever it from Fancamp and Sheridan's other operations and to finance the project separately. The Magpie Mines Inc. is a private company with the intention of going public within the year."

FNC has virtually no cost in this property, and managment is creating possible significant value for FNC shareholders out of virtually nothing. How are you are as hareholders being harmed or wronged by this???

I also suggest you go to http://www.sedar.com/DisplayProfile.... and view FNC's public documents. The company does not really need a website - all pertinent information about the company is on Sedar. Sometimes I have to wonder about you guys :-)

Regards,

B.

FANCAMP EXPLORATION – ACQUIRES “MAGPIE” INTEREST

October 29, 2007 TSX Trading Symbol: FNC

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

The Company wishes to report that it has acquired, by staking (together with a 50% partner) a 50% interest in the well known Magpie titaniferous magnetite deposits located on Quebec’s North Shore, some 80 miles north of the coast, near Longue Pointe de Mingan.

It was reported by Marcel Vallee and Raymond Raby of SOQUEM in CIM Transactions Vol. LXXIV, pages 264-271, 1971, that these deposits contain more than one billion tons of titaniferous magnetite grading 43% Fe, 10.5% Ti02 and 1.6% Cr with minor values of vanadium.

This estimate is historical in nature and therefore should not be relied upon. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company does not consider these historical estimates as current.

The Magpie deposits outcrop as a series of en echelon ridges in a corridor some 4.5 miles long and 2,000 feet wide. The ridges stand up to 800 feet above the surrounding country, lending themselves to low cost mining methods.

ON BEHALF OF THE BOARD

“Peter H. Smith”, Ph.D., P.Eng., President

For further information, contact: Peter H. Smith, Ph.D.,P.Eng., President, at 514-481-3172

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy

or accuracy of this release.