I have been a Fancamp shareholder for many years. I was attracted to Fancamp by the Company's interest in iron ore, in particular Magpie and Lamalee. I was (and I still am) impressed with the portfolio of mineral claims that had been acquired by Peter Smith and with his skill in finding and acquiring them. I have no desire to invest in zinc or lead. I am a retail investor with no technical mining experience or expertise, so please keep that in mind when reading my comments.

Re the merits of The Scotia Mine, although it does have the potential to generate significant cash flow, I believe it also has the potential to sink Fancamp. The Pre-Feasibilty Study seems to be based on Zinc prices between $ 1.16US/lb and $ 1.20US/lb and lead prices between $ 0.83US/lb and 0.90US/lb. Zinc is trading around $ 1.27US/lb now; however, it was trading below $1.15US/lb earlier this year and was trading below $ 0.90US/lb last Spring. Even if zinc and lead prices stay where they are now, it will likely be a few years before the mine generates significant cash flow. With pre-production CAPEX at $ 30 million+, we can expect financing through debt and likely further shareholder dillution. If Zinc and lead prices fall back, there might not be any funds to advance existing Fancamp projects. If I had the opportunity to vote on the Fancamp-ScoZinc merger, my vote would be no x 500,000.

With regards to current Management's strategy to focus on fewer (higher quality) Fancamp mineral properties, I support them 100%.... and I believe this should be done without taking on the risk of restarting a previously failed zinc/lead mine.

With regards to other Fancamp mineral assets (those deemed to be of lesser quality by management), I agree that management should communicate with shareholders their intentions/plans for each of them.

With regards to the titanium technology, based on the very little I know about it, I don't expect it to generate any revenue for the company in the near future.