VANCOUVER, BRITISH COLUMBIA, Dec. 22, 2009 (Marketwire) --

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/22/09 -- Fancamp Exploration Ltd. (TSX VENTURE: FNC): Fancamp Exploration Ltd. (the "Company") wishes to announce the closing of a non-brokered private placement of $1,793,500 through the sale of 3,587,000 flow-through units (the "FT Units") at $0.50 per FT Unit. Each FT Unit consists of one flow-through common share, and one-half of one non-flow-through share purchase warrant (the "Warrants"). Each whole Warrant is exercisable into one common share at a price of $0.75 per share until December 18, 2011, subject to earlier forced acceleration in the event the Company's shares close at a price of $1.00 per share or more for 30 consecutive trading days after the four month hold expires. The flow-through shares are subject to a four month hold period expiring April 19, 2010.

The funds will be used to further exploration of the Company's properties in Ontario and Quebec, in particular, McFaulds Lake, Ontario and the recently acquired Stoke Mountain and Clinton base metal-gold prospects in Quebec's Appalachian Mountain trend.

The Mineralfields Group was a participant in this financing.