Fancamp Acquires Iron Ore Royalty And Provides Corporate Update

(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, March 30, 2026 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“ Fancamp” or the“ Corporation”) (TSX Venture Exchange: FNC ) is pleased to announce the Corporation has acquired (the“ Royalty Acquisition”) up to 3.0% net smelter returns (NSR) royalties (the“ Royalties”) on certain iron ore mineral properties in the Labrador Trough in the Schefferville region, an area with operational mines and supporting infrastructure located in the Province of Newfoundland and Labrador, from two arm's-length vendors (the“ Vendors”). Fancamp acquired the Royalties from the Vendors for total cash consideration of $1,765,000. The most notable mineral property subject to the Royalties is an open pit mineable iron ore mineral deposit in Newfoundland and Labrador, situated approximately 25 kilometers northwest of Schefferville, Quebec.

Spin-Out Transaction

The acquisition of the Royalties represents a meaningful development as the Corporation continues to advance its royalty and investment strategy seeking high-growth opportunities in parallel to the strategic reorganization of the Corporation's assets pursuant to which Fancamp intends to transfer its interests in core exploration projects into its newly incorporated subsidiary, Goldera Exploration Ltd. (“ Goldera”), and spin-out the shares of Goldera to the shareholders of Fancamp by way of plan of arrangement pursuant to the Business Corporations Act (British Columbia)(the“ Spin-Out”) (see press releases dated February 10, 2026 and December 1, 2025 ). The Corporation believes that the Royalty Acquisition will enable Fancamp to add to its cash flow in the near term, in addition to the quarterly interest payments received from The Canadian Chrome Company Inc. $34.5 million secured convertible promissory note held by Fancamp and dividends received from 2.7 million Champion Iron Ltd. shares held by the Corporation.

The Corporation's planned Spin-Out is expected to be completed in Q2 of 2026, subject to the receipt of all required approvals, including court, shareholder and stock exchange approvals. The purpose of the Spin-Out is to unlock shareholder value by creating two focused, publicly traded companies, while giving existing Fancamp shareholders direct participation in both growth streams and attracting new, targeted capital to Goldera's exploration portfolio that encompasses the Acadian Gold Corp. (“ Acadian”) joint venture entity and the Egan Gold mineral project as key discovery drivers.

Acadian holds interests in the McIntyre Brook mineral property (111 km2) (“ McIntyre Brook”) and Riley Brook mineral property (334.5 km2) (“ Riley Brook”), together comprising a 445 km2 consolidated land package under joint venture with Gold Orogen Resources Corp. that represents a significant underexplored position in an emerging gold-copper district (see press releases dated August 27, 2024, and October 9, 2024 ). Since 2024, systematic exploration including airborne geophysics, soil geochemistry, prospecting, trenching, and initial drilling has generated multiple targets across both mineral properties.

McIntyre Brook is bordered by Puma Exploration's Williams Brook Project (under option agreement with Kinross Gold), to the south, north and west. Three mineralized trends identified by Puma extend onto, or across, portions of McIntyre Brook. The Lynx Gold Zone of Puma extends throughout their Cheetah zone and across the northwest part of McIntyre Brook. The Ramsey Gold Zone of Puma extends northeastward through the Moose Brook prospect area of McIntyre Brook, and possibly 6 kilometers or more further, through the McIntyre Brook prospect area. The Panthera Zone of Puma, defined from soils and rock sampling, extends southward to the northern McIntyre Brook property line. Only a silicified and brecciated felsic horizon at the McIntyre Brook prospect area has been subject to detailed exploration, with prospecting and soil sampling conducted elsewhere.

The felsic horizon hosting gold mineralization at McIntyre Brook currently extends over 3 km, with widths up to 10 meters, with consistent gold mineralization (Area 2, Figure 1) that presents all the hallmarks of a major gold-discovery (see press releases dated September 9, 2025 and January 20, 2025 ). A limited drilling program of 6 holes of over 800 meters in December 2025 allowed to cross reference observations from previous trenching and prospecting work, with best results including 4 meters at 1.45 g/t Au in drill hole MB25-02. This hole is situated 500 meters west-southwest, on strike, with historical drill hole MB19-04, that intersected 20 meters at 1.2 g/t Au .

Riley Brook, located 30 km south of McIntyre Brook, was staked by Fancamp as part of a regional generative exploration program, and incorporated into the Acadian joint venture. Riley Brook is adjacent to a 1,400 km2 claims package subsequently obtained by Kenorland Minerals Ltd. Geophysical and geochemical surveys have identified a significant Au, W, As, Sb and Cu in soil anomaly coincident with a conductive EM features and broad radiometric anomalies, over a 2 km by 1.5 km area at the Craig Mountain area, and a 300-metre by 300-metre area at the Haystack area (see press releases dated January 20, 2025 and NI 43-101F Report The Riley Brook Property Northwestern New Brunswick Victoria County with effective date September 3, 2024). The Corporation views Riley Brook as one with the potential for an epithermal associated felsic dome and intrusion related gold system, similar to McIntyre Brook.

Work conducted to date by Acadian has identified high-priority, drill-ready targets at McIntyre Brook, to be subsequently explored by Goldera, in a proposed 3,500-metre diamond drilling program to be conducted by Acadian. Building on Acadian's historical data and regional knowledge, these results strengthen confidence and the discovery potential of a major Au-Cu system, enhancing the strategic value of the planned Spin-Out.

Figure 1: McIntyre Brook Property, Acadian Gold, Area 2

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