Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex

Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to share the recent program updates and announcement made by Platinex Inc. (CSE:PTX) ("Platinex") with regards to the Shining Tree Gold Property, in which the Corporation holds a 25% interest through South Timmins Mining Inc. ("Goldco"), a joint venture with Platinex Inc. ( refer to news release dated March 14, 2023 ). GoldCo's Shining Tree Gold Property is strategically located in the South-West region of the Abitibi Greenstone Belt, the world's largest 2.7-billion-year-old mineral-rich greenstone geological belt, which hosts numerous major gold and base metal deposits, and predominant gold producers ( refer to Figure 1 ).

Fancamp is encouraged by the timely commencement of the exploration program at the Shining Tree Gold Property which follows on Platinex's 2022 reconnaissance geochemical and prospecting programs ( refer to Platinex Inc. release dated December 7, 2022 ) and the recently announced joint venture between the Parties in relation to the advancement of properties in the Abitibi Greenstone Belt through GoldCo.

Part of Fancamp's mission is to invest in highly prospective projects and near-term producing assets in order to monetize and generate meaningful returns for shareholders. The Shining Tree Gold Property is of great significance to Fancamp given the geological and regional aspects of its location and the previous work conducted by Platinex which delineated areas of interest which could result in high-grade mineralization potential.

Platinex, operator of the Shining Tree Gold Property, is now focused identifying new gold targets in highly prospective but underexplored regions of the 225 km ² land package, with initial work to commence in highly prospective Areas 2 and 3. From previous work programs conducted by Platinex, these targets indicated several anomalous soil samples with gold values that coincide with the probability that Au-mineralization may be present (refer to Figure 2 and Platinex Inc. press release dated May 17, 2023).

For further information on the exploration program operated and led by Platinex at the Shining Tree Gold Property, and reference to previous work conducted on the property as referenced above, refer to press release by Platinex Inc. dated May 17, 2023.

Figure 1: Platinex – Fancamp Joint Venture Property Locations

Figure 2: Shining Tree Gold Project Target Areas

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 highly sought-after 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 closing of the Offering, the receipt of regulatory approval, completion of the Agreement, 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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/24589b01-6261-4864-9b7d-16dc13c68eb6

https://www.globenewswire.com/NewsRoom/AttachmentNg/ccb3070b-bfaa-4b2c-8eb2-d9ddd82e5fc4

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Platinex Launches Exploration Programs for the South Timmins Mining Joint Venture

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce exploration progress and plans for its South Timmins Mining Joint Venture ("South Timmins Mining" or "Joint Venture") properties. The South Timmins Mining properties include the Shining Tree, Heenan, and Mallard gold projects, all of which lie along the Ridout-Tyrrell Deformation Zone ("RTDZ") in the Abitibi Subprovince, one of the most gold enriched geologic regions in the world. IAMGOLDSumitomo's Côté Gold project, Aris Mining's Juby deposit, and numerous other small-scale historic gold producers fall within or are proximal to the RTDZ (see project location map, Figure 1).

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Platinex Reports Positive Geochemical Sampling Results and Commences Exploration Program at Shining Tree Gold Property

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At Shining Tree, the joint venture is working to identify new gold targets in several highly prospective and underexplored areas of the 225 km ² land package including along the Ridout-Tyrrell Deformation Zone (RTDZ) while continuing more focused exploration efforts in the central area of the project to support additional drilling at the Herrick deposit, Caswell prospect, and historic Ronda Mine (see attached map).

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

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FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce an expansion of the Company's Global Generative Alliance (the " Generative Alliance ") program with Japan Organization for Metals and Energy Security (" JOGMEC "). Building on Year One progress and positive momentum achieved to-date, FPX and JOGMEC have agreed to an expanded Year Two budget. The program will remain focused on the global identification and acquisition of high-quality awaruite nickel properties similar in geological character to the Company's flagship Baptiste Nickel Project (" Baptiste ") in central British Columbia.

Highlights

Global Generative Alliance budget increased from initially planned $650,000 to $1,500,000 for Year Two
Through ongoing evaluations in five international and three Canadian jurisdictions, the Generative Alliance program remains on track to define Designated Projects to be joint ventured by FPX and JOGMEC starting in Year Two
The Generative Alliance program has staked approximately 120 km ² of prospective ground in British Columbia

"We are pleased with our progress during Year One of our Generative Alliance with JOGMEC and look forward to increasing momentum through a significantly expanded Year Two budget," commented Andrew Osterloh , FPX's Senior Vice-President of Projects and Operations. "Our shared vision of realizing new globally significant awaruite nickel deposits remains resolute, and with ongoing evaluations in multiple Canadian and International jurisdictions, we are on track to achieve our shared objective of defining Designated Projects starting in Year Two."

A JOGMEC representative commented: "JOGMEC has decided to increase funding for Year Two activities with a view to identifying significant new awaruite deposits, which could be a globally significant, low-carbon, source of nickel for the electric vehicle battery supply chain toward the realization of a carbon-neutral society."

In April 2023 , FPX and JOGMEC initiated a Generative Alliance to carry out mineral exploration activities for the identification and acquisition of high-quality awaruite nickel targets on a worldwide basis. Under the terms of the agreement, JOGMEC funded 100% of the $650,000 budget in Year One (covering the year ended March 31, 2024 ) and will fund 100% of the first $650,000 budgeted for Year Two (for the year ended March 31, 2025 ).

Building on Year One progress and the positive results of work completed to-date, FPX and JOGMEC have agreed to expand the Year Two budget to a total of $1,500,000 . Under the terms of the agreement for Year Two, after JOGMEC has funded a cumulative total of $1,300,000 , the parties will fund ensuing exploration activities on pro-rata basis (FPX 40% and JOGMEC 60%).

Subject to agreement between FPX and JOGMEC, one or more specific targets identified by the Generative Alliance may be advanced to a second phase to be further developed as a separate designated project (" Designated Project "). Each Designated Project will have its own work program and budget with the objective, of testing and further developing the identified targets. For each Designated Project, JOGMEC and FPX will respectively fund 60% and 40% for approved work programs.

During Year One of the Generative Alliance, FPX's exploration team conducted evaluations and/or sampling programs in five international and three Canadian jurisdictions. With multiple evaluations ongoing, and further prospective opportunities identified, the program is on track to identify Designated Projects in its second year.

Representing the first ground staked under the Generative Alliance, the Company is pleased to announce the acquisition of approximately 120 km ² of new mineral claims in British Columbia. This staking was based on historic sampling by FPX coupled with updated geological interpretation based on FPX's learnings at Baptiste.

The Company is currently strategizing on additional mineral tenure acquisitions within British Columbia , elsewhere in Canada , and in multiple international jurisdictions across multiple continents; one or more of such land packages may ultimately be selected as a Designated Project under the terms of the Generative Alliance. As and when Designated Projects are confirmed, FPX will provide additional disclosure regarding the location and planned work programs for such Projects.

Keith Patterson , P.Geo., FPX's Vice President, Generative Exploration, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km ² west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex

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