Fancamp Announces Close of Flow Through Financing

Fancamp Exploration Ltd. (TSX VENTURE: FNC) wishes to announce the closing a non-brokered financing of $155,750 through the sale of 207,667 flow-through units (the "FT Units") at $0.75 per Unit. Each FT Unit consists of one common share and one-half of one common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into common shares at a price of $0.90 per share until October 2, 2011, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires. All shares issued are subject to a four month hold period expiring on February 2, 2010.

A finder's fee of 8% in cash and 10% in options for non flow through units at $0.75 per unit will be paid to eligible finders in relation to this financing. The proceeds received will be used to further work on the Company's exploration properties in Ontario and Quebec. The above is subject to regulatory approval.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., 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, Ph.D., P.Eng.
President
514-481-3172
www.fancampexplorationltd.ca

SOURCE: Fancamp Exploration Ltd.

http://www.fancampexplorationltd.ca

Related terms: exploration, ontario, president, quebec