VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 10/18/11 — Fancamp Exploration Ltd. (TSX VENTURE: FNC) is pleased to provide the first assay results from the Company-s drill programme on the 100% owned and previously undrilled Lac Lamelee South Project, which is located about 15 km west of ArcelorMittal-s Fire Lake Mine. The three holes reported cover some 300 metres strike length (The Tanguay Zone) on the west end of the 2.4 km long Lamelee Ridge underlain by the hematite/magnetite iron formation. The iron formation in this zone has a -60 degree NW dip, which, to judge from the gravity and magnetic surveys, appears to flatten with depth (currently tested to about the 200 metre level). The intersections cited approximate the thickness of the iron formation in this zone. Drill hole LS-2011-02 intersected 61.4 metres (down-hole core length) grading 30.3% Total Iron („FeT“), drill hole LS-2011-03 intersected 53.3 metres (down-hole core length) grading 29.4% FeT, and drill hole LS-2011-04 intersected 59.2 metres (down-hole core length) grading 31.9% FeT. (Hole LS-2011-01 appears to have been drilled off structure to the west).
Eastwards from The Tanguay Zone structures become very complex; dips are near vertical, and the iron formation is repeated due to tight folding. A down-hole iron formation intersection at mid Ridge (in an as yet unreported hole) remained in iron formation from collar to 351 metres down-hole and was stopped in iron formation due to technical difficulties. The quality of this intersection is visually, directly comparable to that seen in The Tanguay Zone.
Drilling continues along the entire 2.4 km strike length of the Lamelee Ridge with the intent of producing a NI-43-101 inferred resource; sixteen holes have been drilled to date and the programme is scheduled for completion at the end of October for an estimated total of 6000 metres; assay results are pending.
It is the Company-s intention to further develop this project with its enormous potential, in conjunction with its ongoing 17.5% participation in the Champion Minerals Fire Lake North project in the same district, itself on the verge of a major feasibility study.
The technical portion of the news release was prepared by the Company-s QP Mike Flanagan, P.Geo.
ON BEHALF OF THE BOARD
„Peter H. Smith“, PhD., P.Eng., President
S.E.C. Exemption: 12(g)3-2(b)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Fancamp Exploration Ltd. Peter H. Smith, PhD., P.Eng. President 514-481-3172
Bay Street Connect Investor Relations Michael D-Amico 647-500-6023
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