Fancamp Announces Additional Financing

FANCAMP EXPLORATION LTD.

7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2 Telephone: 604-434-8829 Facsimile: 604-434-8823 www.fancampexplorationltd.ca

FANCAMP ANNOUNCES ADDITIONAL FINANCING

October 7, 2010 TSX Trading Symbol: FNC S.E.C. Exemption: 12(g)3-2(b)

Fancamp Exploration Ltd. (TSX Venture Exchange - FNC): Fancamp Exploration Ltd. (the “Company”) wishes to announce that further to its news releases dated August 26, 2010 and September 8, 2010 for a private placement of flow-through and non flow-through units to raise an aggregate $2.41 million, it has arranged additional financing with certain arm’s length investors to raise up to another $300,000 through the sale of additional flow-through units, on the same basis as previously announced. These funds will be used for further exploration on the Company’s interests in Quebec.

The Company is currently awaiting assay results on the ongoing drill programme on its Stoke Mountain and Clinton gold-VMS properties and has recently announced the re-commencement of drilling on its McFauld’s Lake property in the Ring of Fire (see press release dated October 5, 2010).

The recently announced advisory board members have contributed valuable input and guidance into the exploration activities and focus of the company. We are very pleased with the effectiveness of this board and its experienced and capable individuals.

ON BEHALF OF THE BOARD

“Peter H. Smith”, PhD., P.Eng., President

For further corporate information, contact: Peter H. Smith, PhD., P.Eng., President, at 514-481-3172 or Michael D’Amico, Bay Street Connect Investor Relations at 647-500-6023

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.