VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec 21, 2012) - Fancamp Exploration Ltd., ("Fancamp" or the "Company") (TSX VENTURE:FNC) President and CEO, Mr. Jean Lafleur, M. Sc., P. Geo., in his year-end message expresses his sincere gratitude and thanks to the Fancamp shareholders and stakeholders for their support in 2012.
Fancamp''s pipeline of key projects
Fancamp is fortunate in having two essential elements for success in the mineral exploration industry -a pipeline of key projects, royalties and company interests, and the people to successfully develop (or evolve) its own projects.
We are very pleased with the significant and positive results from our exploration work on the Iron projects at Lac Lamêlée South (Quebec) and Desolation Lake (Ontario), on our 47.6% stake in the Magpie Iron-Titanium-Vanadium-Chrome project held under Magpie Mines Ltd. (Quebec), and the Appalachian gold and/or copper (Quebec).
We also commend the work of our strategic partners, Champion Iron Mines in the Fermont Iron Camp, Argex Titanium with their titanium extraction technology and Bold Ventures in the Ring-of-Fire. We retain significant holdings in these companies and benefit as they continue to advance their respective projects to more advanced stages.
Fancamp has and will continue with its strategy of acquiring early-stage projects and unlocking their potential value. We''ve had significant success in our approach as attested by the Fermont Iron Project, now held by Champion Iron Mines. The Fermont Iron Project was originally acquired via claim staking in 2005 and our efforts have resulted in a 12.59% share-interest in Champion.
We will continue assessing our current and new projects, and our company interests on an on-going basis. Our overriding objective is to add value for Fancamp shareholders and stakeholders.
Fancamp recently staked a major land position in Quebec''s Gaspé and another major position in New Brunswick''s Clarence Stream region, where previous work has shown significant gold potential. Early stage, cost effective prospecting, geophysical and geological work with limited diamond drilling has outlined several targets. Drill core assays are pending and will be reported as soon as they are available.
Fancamp''s pipeline of liquid assets
The one undesirable reality has been Fancamp''s recent share price. We are currently trading in the $0.125 to $0.15 price range down from the $0.25to $0.27 range at this time in 2011. Two factors have likely contributed to these prices - the general downward slide of the junior market, a trend that started in 2008, and the uncertainty brought about by the dissident shareholder actions leading to this year''s Annual General Meeting of Shareholders ("AGM").
In 2013, we will strive to improve the Company''s standing in the market.
Our progress is dependent upon our ability to generate sufficient funds to advance our exploration projects. Equity financing under the current depressed market conditions is highly undesirable due to the substantial dilution. There may be circumstances where we will finance under adverse conditions or to increase and strengthen key shareholder positions.
As an alternative to equity financing we will focus on our "pipeline" of liquid assets, as well as cash received from advanced projects, future royalties, and early-stage and new project deals. These offer the potential of substantial funding for exploration activities, general working capital and further acquisitions, and will minimize share dilution. From time to time, we may consider a dividend to shareholders.
This new business model is based on our past and actual successes and management experiences. We will communicate additional details to our shareholders and stakeholders in the coming weeks.
Finally, we at Fancamp wish you and your family all the best over this holiday season and a happy, healthy and prosperous New Year. Thank you.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company''s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
S.E.C. Exemption: 12(g)3-2(b)