VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2009) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to announce that it is granting incentive stock options to purchase up to a total of 850,000 common shares in its capital stock, at a price of $0.50 per share, exercisable on or before January 9, 2014. The options were granted pursuant to the Company's incentive stock option plan, under which a maximum of 10 percent of the issued and outstanding common shares are reserved for issuance. Shares issuable upon exercise of the incentive stock options are subject to a 4 month TSX Venture Exchange hold period, commencing on the date the incentive stock options are granted.

The Company is also re-pricing options granted for the purchase of up to 2,700,000 common shares at a price of $1.90 per share to $0.50 per share.

The closing price of the Company's shares on January 8, 2009 was $0.295.

The above is subject to acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

FOR FURTHER INFORMATION PLEASE CONTACT:

Fancamp Exploration Ltd.
Peter H. Smith, Ph.D.,P.Eng.
President
(514) 481-3172