VANCOUVER, BRITISH COLUMBIA, Jun 09 (MARKET WIRE) —
Fancamp Exploration Ltd. (TSX VENTURE: FNC) wishes to announce that
Champion Minerals Inc. has earned a 65% interest in the 50% held Fermont
Iron Property by making total cash payments of $1,000,000, issuing
2,900,000 common shares of Champion and completion of $6,000,000 in work
expenditures. With Champion completing its earn-in, a 65% – 35% joint
venture will be formed between Champion Minerals Inc.(65%), Fancamp
Exploration Ltd.(17 1/2%) and the Sheridan Platinum Group (17 1/2%).
Fancamp and Sheridan retain a 3% Net Smelter Returns royalty, one third
of which may be purchased by Champion for $3,000,000.
Fancamp is looking forward to participating in further exploration
undertakings with our 17 1/2 % interest.
Refer to the Champion website for further details -
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.
Fancamp Exploration Ltd.
Peter H. Smith, PhD., P.Eng.
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