VANCOUVER, British Columbia, March 30, 2026 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the Corporation has acquired (the “Royalty Acquisition”) up to 3.0% net smelter returns (NSR) royalties (the “Royalties”) on certain iron ore mineral properties in the Labrador Trough in the Schefferville region, an area with operational mines and supporting infrastructure located in the Province of Newfoundland and Labrador, from two arm’s-length vendors (the “Vendors”). Fancamp acquired the Royalties from the Vendors for total cash consideration of $1,765,000. The most notable mineral property subject to the Royalties is an open pit mineable iron ore mineral deposit in Newfoundland and Labrador, situated approximately 25 kilometers northwest of Schefferville, Quebec.
Spin-Out Transaction
The acquisition of the Royalties represents a meaningful development as the Corporation continues to advance its royalty and investment strategy seeking high-growth opportunities in parallel to the strategic reorganization of the Corporation’s assets pursuant to which Fancamp intends to transfer its interests in core exploration projects into its newly incorporated subsidiary, Goldera Exploration Ltd. (“Goldera”), and spin-out the shares of Goldera to the shareholders of Fancamp by way of plan of arrangement pursuant to the Business Corporations Act (British Columbia)(the “Spin-Out”) (see press releases dated February 10, 2026 and December 1, 2025). The Corporation believes that the Royalty Acquisition will enable Fancamp to add to its cash flow in the near term, in addition to the quarterly interest payments received from The Canadian Chrome Company Inc. $34.5 million secured convertible promissory note held by Fancamp and dividends received from 2.7 million Champion Iron Ltd. shares held by the Corporation.
The Corporation’s planned Spin-Out is expected to be completed in Q2 of 2026, subject to the receipt of all required approvals, including court, shareholder and stock exchange approvals. The purpose of the Spin-Out is to unlock shareholder value by creating two focused, publicly traded companies, while giving existing Fancamp shareholders direct participation in both growth streams and attracting new, targeted capital to Goldera’s exploration portfolio that encompasses the Acadian Gold Corp. (“Acadian”) joint venture entity and the Egan Gold mineral project as key discovery drivers.
Acadian holds interests in the McIntyre Brook mineral property (111 km²) (“McIntyre Brook”) and Riley Brook mineral property (334.5 km²) (“Riley Brook”), together comprising a 445 km² consolidated land package under joint venture with Gold Orogen Resources Corp. that represents a significant underexplored position in an emerging gold-copper district (see press releases dated August 27, 2024, and October 9, 2024). Since 2024, systematic exploration including airborne geophysics, soil geochemistry, prospecting, trenching, and initial drilling has generated multiple targets across both mineral properties.
McIntyre Brook is bordered by Puma Exploration’s Williams Brook Project (under option agreement with Kinross Gold), to the south, north and west. Three mineralized trends identified by Puma extend onto, or across, portions of McIntyre Brook. The Lynx Gold Zone of Puma extends throughout their Cheetah zone and across the northwest part of McIntyre Brook. The Ramsey Gold Zone of Puma extends northeastward through the Moose Brook prospect area of McIntyre Brook, and possibly 6 kilometers or more further, through the McIntyre Brook prospect area. The Panthera Zone of Puma, defined from soils and rock sampling, extends southward to the northern McIntyre Brook property line. Only a silicified and brecciated felsic horizon at the McIntyre Brook prospect area has been subject to detailed exploration, with prospecting and soil sampling conducted elsewhere.
The felsic horizon hosting gold mineralization at McIntyre Brook currently extends over 3 km, with widths up to 10 meters, with consistent gold mineralization (Area 2, Figure 1) that presents all the hallmarks of a major gold-discovery (see press releases dated September 9, 2025 and January 20, 2025). A limited drilling program of 6 holes of over 800 meters in December 2025 allowed to cross reference observations from previous trenching and prospecting work, with best results including 4 meters at 1.45 g/t Au in drill hole MB25-02. This hole is situated 500 meters west-southwest, on strike, with historical drill hole MB19-04, that intersected 20 meters at 1.2 g/t Au.
Riley Brook, located 30 km south of McIntyre Brook, was staked by Fancamp as part of a regional generative exploration program, and incorporated into the Acadian joint venture. Riley Brook is adjacent to a 1,400 km² claims package subsequently obtained by Kenorland Minerals Ltd. Geophysical and geochemical surveys have identified a significant Au, W, As, Sb and Cu in soil anomaly coincident with a conductive EM features and broad radiometric anomalies, over a 2 km by 1.5 km area at the Craig Mountain area, and a 300-metre by 300-metre area at the Haystack area (see press releases dated January 20, 2025 and NI 43-101F Report The Riley Brook Property Northwestern New Brunswick Victoria County with effective date September 3, 2024). The Corporation views Riley Brook as one with the potential for an epithermal associated felsic dome and intrusion related gold system, similar to McIntyre Brook.
Work conducted to date by Acadian has identified high-priority, drill-ready targets at McIntyre Brook, to be subsequently explored by Goldera, in a proposed 3,500-metre diamond drilling program to be conducted by Acadian. Building on Acadian’s historical data and regional knowledge, these results strengthen confidence and the discovery potential of a major Au-Cu system, enhancing the strategic value of the planned Spin-Out.
Figure 1: McIntyre Brook Property, Acadian Gold, Area 2
Figure 2: McIntyre Brook Property, Acadian Gold, Results of Drilling
Egan Property
Fancamp has positioned itself at the forefront of discovery in Ontario’s prolific Abitibi Greenstone Belt through an option agreement with Harfang Exploration Inc. to earn up to an 80% interest in the Egan Gold mineral property (the “Egan Property”), a 12,000-hectare mineral property strategically located between the Timmins and Kirkland Lake gold camps, two of Canada’s most productive mining districts (see press release dated November 12, 2025). The Egan Property is located 10km south of the Destor-Porcupine fault, and is easily accessed by forestry road. The Egan Property hosts a syenite-associated gold system with demonstrated high-grade surface results in limited recent surface programs, including grab samples up to 105 g/t gold and multiple mineralized zones (E1, E1S, E2, E3) (see press release dated November 12, 2025, Harfang Exploration Website and LaSalle Exploration press release dated August 6, 2020). The Egan Property represents a largely underexplored asset with strong discovery upside. Goldera, through the Acadian joint venture, intends to advance exploration at the Egan Property with an ongoing airborne geophysics program, followed by a targeted stripping and channel sampling campaign designed to expand known mineralization at E1, E1S (previously identified from chip sampling) and toward E2. A comprehensive soil geochemistry program is also planned to unify and extend previously successful, but spatially limited, datasets. With drilling anticipated by late Q3 2026, Goldera will be entering a catalyst-rich phase of systematic exploration aimed at rapidly defining high-priority drill targets and unlocking the district-scale potential at the Egan Property.
Cautionary Statements
Grab samples are selective by nature and may not be representative of mineralized zones. Mineralization occurring at deposits and showings mentioned in this press release is not necessarily indicative of mineralization that may be found on projects held by Fancamp Exploration Ltd. and mentioned in this press release.
Normal Course Issuer Bid
To date, Fancamp has acquired roughly 2.4 million common shares of the Corporation (“Common Shares”) for cancellation pursuant to its previously announced normal course issuer bid (the “NCIB”) (see press release dated December 9, 2025), representing approximately 1% of the Corporation’s issued and outstanding Common Shares. Fancamp’s purchasing of Common Shares under the NCIB represents its conviction that the current price of the Corporation’s Common Shares is undervalued based on Fancamp’s portfolio of assets and its future prospects, a view further supported by management’s value assessment of the Corporation’s diversified portfolio of resource properties, strategic investments, near cash-flowing royalties and strong treasury position.
Qualified Person
François Auclair, PGeo, M.Sc., the Company’s Vice President, Exploration, is a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical content of this news release.
Quality Assurance and Quality Control
François Auclair, PGeo, M.Sc., a Qualified Person as defined by National Instrument 43-101, was responsible for the drilling and sampling program, including quality assurance (QA) and quality control (QC).
Actlabs Laboratories of Ancaster, Ontario, was the primary analytical laboratory for samples collected during both the 2024 and 2025 exploration programs (soil geochemical samples, prospecting, trenching and diamond drilling programs). However, during the 2024 exploration program, the soil geochemical samples were sent to ALS Laboratories of Moncton, New Brunswick, for preparation and analysis.
Actlabs Laboratories and ALS Laboratories are commercial analytical laboratories accredited to ISO/IEC 17025 standards for specific analytical procedures and both are independent of Fancamp Exploration Ltd. and Goldera Exploration Ltd. Both laboratories operate internal QA/QC programs and participate in external proficiency testing programs to monitor analytical accuracy and precision.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a Canadian mineral exploration company focused on creating value through medium-term growth and monetization opportunities with strategic interests in high potential mineral projects, a royalty portfolio, and exploration properties. The Corporation is focused on the advancement of its growing portfolio of mineral claims across Ontario, Québec and New Brunswick, and has diversified exposure to copper, gold, zinc, titanium, chromium, iron, strategic rare-earth metals, among others. The Corporation has monetization opportunities from its transaction with The Canadian Chrome Company Inc. in the highly sought after Ring of Fire in Northern Ontario. The Corporation’s investments include stakes in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., a copper–gold exploration company, PTX Metals Inc. and an investment in a near-term cash flow generating zinc mine in Nova Scotia, EDM Resources Inc., among others. The Corporation’s diverse royalty portfolio includes a future finite production payment on certain Fermont Properties owned by Champion Iron Limited and 2% NSR on Black Horse mining claims in the Ring of Fire. The Corporation holds 96% interests in Magpie Mines Inc., which owns the Magpie property, one of the world’s largest undeveloped hard rock titanium (+V) deposits, per USGS data. The Corporation has newly incorporated a subsidiary, Goldera Exploration Ltd., as part of a strategic reorganization of the Corporation’s assets, pursuant to which it intends to spin out its interests in core exploration projects into Goldera, creating two distinct value-creating entities for its shareholders (see press releases dated December 1, 2025 and February 10, 2026).
Further information on the Corporation can be found at: www.fancamp.ca
For Further Information
Rajesh Sharma, President & CEO
+1 (604) 434 8829
[email protected]
Tara Asfour, Director of Investor Relations
+1 (604) 434 8829
[email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward- looking statements in this news release relate to, among other things: the anticipated benefits from the Royalty Acquisition, including the anticipated commencement of production on certain mineral properties subject to the Royalties and the belief that the Royalty Acquisition will enable Fancamp to add to its cash flow in the near term; statements or information with respect to the terms of the Spin-Out; the intention to complete the Spin-Out in Q2 of 2026; the benefits of the Spin-Out; the commencement of a 3,500-metre diamond drilling program at McIntrye Brook and the expected benefits to be derived therefrom; the advancement of exploration programs at the Egan Property, including an airborne geophysics program, a targeted stripping and channel sampling campaign and a soil geochemistry program at the Egan Property and the expected timing of commencement of such exploration programs; and the Corporation’s expectations and strategic plans in relation to the exploration of the Corporation’s mineral properties.
These forward-looking statements reflect the Corporation’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Corporation, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: court, shareholder and stock exchange approval of the Spin-Out; the ability of Goldera to raise the necessary funding in connection with the Spin-Out; the performance of the portfolio of securities held by Fancamp; conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Corporation’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Corporation’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Corporation cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Corporation has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: Fancamp not obtaining shareholder or court approval of the Spin Out; the market valuing Fancamp and Goldera in a manner not anticipated by Fancamp; unanticipated costs, expenses or liabilities associated with the Spin-Out; risks associated with the business of the Corporation; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government or regulatory approvals, industrial disturbances or other job actions, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time in the Corporation’s continuous disclosure documents filed with Canadian securities administrators.
Forward-looking statements are based on the expectations and opinions of the Corporation’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Corporation undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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