Fancamp’s Industrial Synergy Route on Track

December 3, 2018

TSX Trading Symbol: FNC S.E.C. Exemption: 12(g)3-2(b)

Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX VENTURE: FNC) wishes to announce,
pursuant to its Industrial Synergy Route (ISR) efforts in the preparation of high grade TiO2 feedstock, that
it has become a founding member of the Baie-Comeau Minerals Partnership (BCMP), a consortium
dedicated to the development of an $800 Million industrial complex at Baie-Comeau on Quebec’s North
Shore, the initial MOU of which was formally signed at Baie-Comeau on November 29th, 2018, with
extensive media coverage. It is important to note here that it is rare for an industrial project in Québec to
be carried out in an agreed upon partnership with First Nations and local communities from its very outset;
a process that will greatly contribute to eventual social acceptability. Parties to this agreement comprise
the following; Baie Comeau Minerals Inc., NSGI Steel Inc., Barlow Mine Inc., Fancamp Exploration Ltd.,
Innovation et Developpment Manicouagan (IDM), Ville de Baie-Comeau, Corporation de gestion du port de
Baie-Comeau and Beijing Shougang International Engineering Technology Company LtD. (BSIET). Media
coverage of the signing event follows;

Le Soleil (Ville de Québec)

TVA Nouvelle ( Est du Québec)

Radio-Canada ( Site internet)

The projects considered in this MOU include pig iron production with the NSGI and HiSmelt processes of
approximately 1M metric tonnes of pig iron per year and ilmenite concentrate of approximately 300,000
metric tonnes per year, together with an upgraded TiO2 concentrate for the chloride process of
approximately 25,000 metric tonnes per year. It is important to note that preliminary assessments of the
Nathalie Deposit, a potential local source of magnetite and ilmenite, indicate a very low level of MgO, and
therefore a high potential for integration into the process development of upgraded TiO2. It is intended in
addition that members of the consortium have access to low cost iron and ilmenite concentrate.
Fancamp has committed to invest a minimum of $20 M cash for an equivalent equity position in BCMP
following completion of a successful feasibility study. These funds will be raised in a manner to be decided,
partnerships being among the possibilities. Fancamp will in addition, through its current work on the ISR,
oversee and contribute to the furtherance of green technologies in the production of upgraded TiO2

About Fancamp

Fancamp is a public company using a value added strategy predicated on the acquisition of potentially
valuable assets, adding value through the selection process itself and subsequent development work, selffinanced
or otherwise, followed by disposition, proceeds from which, are used to finance the same process
multiple times. The Company has an exceptional inventory of resource properties in Québec, Ontario and
New Brunswick; commodities of interest include gold, base metals, chromium, titanium, iron and silica. In
addition, the Company has begun to build on the industrial possibilities inherent in dealing with some of
these materials. The Company is a reporting issuer in British Colombia, Ontario and Québec and its
common shares are listed for trading on the TSX Venture Exchange under the symbol FNC.

This news release was written by Peter H. Smith, PhD, P.Eng. (Ont.)
Peter H. Smith, President.

For further information, please contact
Peter H. Smith PhD., P.Eng.(Ont) – President 1-514-481-3172

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.