Fancamp Exploration Ltd. Closes Non-Brokered Private

Fancamp Exploration Ltd. Closes Non-Brokered Private Placement 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/21/12 -- Fancamp
Exploration Ltd. (TSX VENTURE:FNC) ("Fancamp" or the "Issuer") is
pleased to announce the completion of the previously announced
non-brokered private placement financing of 8,200,200 flow-through
units ("FT Units") at a price of $0.165 per FT Unit for aggregate
gross proceeds of up to $1,353,033 (the "Offering"). Marquest Capital
Markets (the "Finder") has been paid a cash commission equal to 6% of
the gross proceeds of the Offering. 
Each FT Unit will consist of one "flow-through share", as defined in
subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"), of
Fancamp and one-half of a Warrant. Each whole Warrant shall entitle
the holder thereof to acquire one additional common share of the
Issuer (on a non-flow-through basis) at a price of $0.25 until
December 21, 2013. All securities issued bear resale restrictions
until April 22, 2013. 
The Issuer intends to use the proceeds raised from the issuance of
the FT Units to incur additional exploration expenditures on the
Issuer's properties in the province of Quebec. Such exploration
expenditures will constitute "Canadian exploration expenses" and
"flow through mining expenditures", as defined under the Income Tax
Act (Canada), which can be renounced to Canadian purchasers of the FT
Units for the 2012 taxation year. FT Unit investors who are eligible
residents of Quebec will also be entitled to receive Quebec
provincial tax credits for qualified exploration expenditures. 
Fancamp Exploration Ltd. is a Canadian junior mineral exploration
company with an exceptional inventory of resource projects, all in
the exploration stage. In Quebec, there is the South Lamelee Iron
Property resource, close to the operating Arcelor Mittal Fire Lake
Mine and the adjoining Champion Minerals/Fancamp flagship Fire Lake
North Project; as well as the promising Stoke Mountain Phelps Dodge
Copper Zone; and other grass roots projects in the Quebec
Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe the
Issuer's future plans, objectives or goals, including words to the
effect that 
the Issuer 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.  
Fancamp Exploration Ltd. 
Peter H. Smith, PhD, P.Eng, Chairman and Director 
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
Chairman and Director
(604) 434-8829
(604) 433-8823 (FAX)
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