VANCOUVER, British Columbia, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the voting results of its Annual General Meeting of Shareholders (“AGM”) held on October 30, 2024, in Montreal, Quebec.

The Corporation announces that all resolutions put forward to shareholders in the Fancamp Management Information Circular (“Circular”) dated September 30, 2024, were approved. Fancamp also announces that the nominees listed in the Circular for the Annual General Meeting of Shareholders (the “Meeting”) were elected as Directors of the Corporation. The number of Directors has been set at six and Mark Billings, Francis MacDonald, Ashwath Mehra, Rajesh Sharma, Mathieu Stephens and Charles Tarnocai have been elected to the Corporation’s Board of Directors.

Shareholders at the meeting approved the appointment of Davidson & Company LLP, Chartered Professional Accountants as the Corporation’s auditors for the next ensuing year. The Corporation’s Omnibus Equity Incentive Compensation Plan (the "Omnibus Plan") was also approved by a majority of the shareholders. An aggregate of 24,093,375 common shares of the Corporation ("Common Shares") are issuable pursuant to the exercise of stock options, restricted share units, deferred share units and performance share units of the Corporation issued or issuable under the Omnibus Plan, representing 10% of the issued and outstanding Common Shares as of October 30, 2024.

The Corporation has granted stock options (“Options”) to its directors, officers, employees and consultants, exercisable into 8,750,000 common shares of the Corporation (“Common Shares”). The Options have an exercise price of $0.08 per Common Share and will expire after 5 years following the date of grant. The Options granted will vest immediately with the exception of 150,000 Options which will vest over 1 year. The Options were granted pursuant to the Corporation’s Omnibus Equity Incentive Compensation Plan.

About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a Canadian mineral exploration corporation focused on creating value through medium term growth and monetization opportunities with its strategic interests in high potential mineral projects, royalty portfolio and mineral properties. The Corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario, Québec and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., a copper–gold exploration company, Platinex Inc., an opportunity to develop an emerging gold-copper exploration play with Lode Gold Resources in addition to an investment in a near term cash flow generating zinc mine, EDM Resources Inc. in Nova Scotia. The Corporation has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. The Corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.