Base Metals

Fancamp Announces Closing of the Transaction with Platinex Inc. to Develop Ontario Gold Assets

Fancamp Announces Closing of the Transaction with Platinex Inc. to Develop Ontario Gold Assets

Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to announce that it has closed the Transaction (as defined below) with Platinex Inc. (" Platinex ") ( CSE: PTX) as previously announced (see news release dated February 6, 2023). As part of the Transaction, the Corporation transferred its Hennan Mallard and Dorothy properties and Platinex's transferred its Shining Tree property to South Timmins Mining Inc. (" Goldco "), a subsidiary of Platinex. Pursuant to the Transaction, Fancamp holds a 25% interest in the share capital of Goldco, while Platinex holds a 75% interest in the share capital of Goldco. Fancamp has an option to increase its shareholding to 50% pursuant to the terms provided in the Shareholders' Agreement (as defined below) entered into by the parties (the " Transaction ").

As part of the Transaction: (i) the Corporation and Platinex entered into a shareholders' agreement (the " Shareholders' Agreement ") providing for the governance of Goldco's operation; and (ii) the Corporation purchased 25,869,741 shares of Platinex at a price of $0.04 per share representing 9.5% of the issued and outstanding shares of Platinex.

In addition to its 25% interest in the share capital of Goldco, as part of the Transaction, Fancamp was granted a 1.0% net smelter return royalty (the " NSR Royalty ") in respect of the Hennan Mallard and Dorothy properties, subject to a decrease to a 0.5% NSR Royalty should Fancamp elect to exercise an option to acquire 50% of the issued and outstanding shares of Goldco, in accordance with the provisions of a royalty agreement entered into between the parties.

As part of the Transaction, Fancamp contributed $130,000 to Goldco in respect of the right and option to earn into the Shining Tree Gold Project in the Abitibi region of Ontario to be used to advance the initial exploration program.

The Transaction has received conditional approval from the TSX Venture Exchange (the " TSXV "), but remains subject to final approval of the TSXV.

The Transaction was a non-arm's length transaction as Fancamp and Platinex are Non-Arm's Length Parties (as defined in Policy 1.1 of the TSXV) of one another by virtue of Greg Ferron being an independent director of Fancamp and the Chief Executive Officer and a director of Platinex.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration corporation dedicated to its value-added strategy of progressing priority mineral properties through exploration and innovative development. The Corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims encompassing over 158,000 hectares across Ontario, Quebec and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Corporation continues to identify near term cash-flow generating opportunities and in parallel aims to advance its investments in strategic mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Corporation, in addition to an investment in a zinc mine planned to be restarted in Nova Scotia. The Corporation has future monetization opportunities from its Koper Lake transaction in the Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The Corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

Further information of the Corporation can be found at: www.fancamp.ca

Forward-looking Statements

This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, the receipt of final approval of the Transaction from the TSXV, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Corporation. Forward-looking statements are statements of fact that are not historical facts or are events or conditions that may occur or be achieved.

Although Fancamp believes that the material factors, expectations and assumptions informing such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results of such statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from those anticipated in such forward-looking statements.

Readers are cautioned that the foregoing list of factors is not exhaustive. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable securities laws, Fancamp disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

For Further Information

Rajesh Sharma, President & Chief Executive Officer

+1 (604) 434 8829

info@fancamp.ca
Debra Chapman, Chief Financial Officer

+1 (604) 434 8829

info@fancamp.ca
Tara Asfour, Director of Investor Relations

+1 (604) 434 8829

tasfour@fancamp.ca

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.


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Platinex Inc. Closes Acquisition of Ontario Gold Assets, South Timmins Joint Venture and $2.7M Equity Financing

Platinex Inc. Closes Acquisition of Ontario Gold Assets, South Timmins Joint Venture and $2.7M Equity Financing

Platinex Inc. (" Platinex " or the " Company ") (CSE:PTX) is pleased to announce that it has completed the previously announced private placement raising gross proceeds of $2,700,840 which was oversubscribed due to market demand. In addition, the Company wishes to announce the completion of the binding heads of agreement with Fancamp Exploration Ltd. (" Fancamp ") (TSXV: FNC) with respect to advancing the exploration and development of certain gold mineral properties owned by the parties located in the Timmins, Ontario mining camp (the " Transaction ") (see press releases of the Company dated February 6, 2023 and March 10, 2023, for further details).

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As part of Transaction, Fancamp will subscribe for 9.5% of the issued and outstanding shares of Platinex. The balance of the financing will occur in tranches including proceeds from Fancamp's subscription and from additional investors raising approximately $2.5 million. The Transaction including the financing is expected to close on or about March 13, 2023.

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Platinex Inc. Announces Acquisition of Ontario Gold Assets, Shining Tree Joint Venture with Fancamp and $2.5M Equity Financing

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Platinex Inc. (" Platinex " or the " Company ") (CSE:PTX) is pleased to announce that it has entered into a binding heads of agreement dated February 6, 2023 with Fancamp Exploration Ltd. (" Fancamp ") (TSXV: FNC) with respect to advancing the exploration and development of certain gold mineral properties owned by the parties located in Ontario in the Timmins mining camp (the " Transaction ") (see attached map). The Transaction includes several components, pursuant to which (i) Platinex and Fancamp will transfer certain mining properties which they currently hold to South Timmins Mining Inc. (" Goldco "), currently a 100% wholly owned subsidiary of Platinex; (ii) enter into a shareholders' agreement respecting the operations of Goldco; (iii) Platinex will conduct a non-brokered private placement of flow- through units; and (iv) Platinex will conduct a private placement of non-flow-through units, of which Fancamp will subscribe for 9.5% of the issued and outstanding shares of Platinex, all as more particularly described below.

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Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to announce that it has entered into a joint venture arrangement with Platinex Inc. (" Platinex ") ( CSE: PTX ) to facilitate advancing the exploration and development of certain gold mineral properties held by the parties located in Ontario (see attached map). As part of the contemplated transaction (the " Transaction "), Platinex and the Corporation will:

  1. transfer Fancamp's Heenan Mallard and Dorothy properties and Platinex's Shining Tree property to South Timmins Mining Inc. (" Goldco "), a wholly owned subsidiary of Platinex. Subsequent to the Transaction, Goldco will be held 25% by Fancamp and 75% by Platinex. Fancamp will have an option to increase its shareholding to 50% on the basis described below;
  2. enter into a shareholders' agreement in relation to the governance of Goldco's operation; and
  3. enter into a subscription agreement, whereby the Corporation will purchase 9.5% of the issued and outstanding shares of Platinex.

Completion of the Transaction is subject to approval of the TSX Venture Exchange.

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Upon completion of the Consolidation, the Company is expected to have 20,067,964 issued and outstanding Common Shares. No fractional shares will be issued because of the Consolidation and all fractional interests will be rounded down to the nearest whole number of Common Shares. Each shareholder's percentage of ownership in the Company and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.

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Emerita Resources Corp. (TSX V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce additional assay results from the ongoing 2022 - 2023 delineation drilling program at La Romanera Deposit, part of Emerita's wholly owned Iberian Belt West project ("IBW" or the "Project"). Assays from an additional 14 drill holes have been received. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for expansion along strike and at depth.

Assays are reported for the following 14 drill holes (LR022, LR027, LR031, LR036, LR039, LR048, LR055, LR063, LR068, LR070, LR072, LR099, LR110 and LR120) at La Romanera deposit (Figures 1, 2 and 3 and Table 1).

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Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project

Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project

(TheNewswire)

Xander Resources Inc.

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Voltage Metals Corp. Announces Private Placement Financing up to $500,000

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Voltage Metals Corp. ("Voltage" or the "Company") (CSE: VOLT) (OTC: VLTMF) is pleased to announce that it plans to undertake a non-brokered private placement of up to 16,666,667 common shares at a price of C$0.03 per share to raise gross proceeds of up to C$500,000 (the "Share Offering").

Voltage Metals logo (CNW Group/Voltage Metals Corp.)

The Company may pay a finder's fee to certain finders of up to 3% of the aggregate gross proceeds of subscriptions facilitated by such finders.

The Company intends to use the proceeds of the Share Offering for technical reporting, exploration of the Company's mining properties, potential strategic acquisitions, and general working capital.

The closing of the Share Offering is expected to occur on or about March 27 , 2023.  All securities issued pursuant to the Share Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.

About Voltage Metals

Voltage is a mineral exploration company with an experienced team focused on battery metals exploration in the Canadian provinces of Ontario and Newfoundland . The Company's mission is to create shareholder value by exploring and developing projects that display sound geology and discovery potential.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by management. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Voltage Metals Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/17/c6308.html

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