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Fancamp Exploration Update
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Fancamp Withdraws Financing

Fancamp Exploration Update


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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2010) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): Fancamp Exploration Ltd. (the "Company") wishes to announce that drilling is scheduled to restart on the McFaulds property on about June 8, 2010, with deep holes on the C-1 and C-6 targets as first priority. The Company is also looking at chromite targets, as Noront's Blackbird deposits strike northeastward into Fancamp's ground.

A 2500 metre reconnaissance drilling programme on the Company's gold and base metals targets in the Stoke Mountains and at Clinton in the Quebec Appalachians will begin in the latter part of June. Trenching and channel sampling are currently underway in the Stoke Mountain sector where historical assays in drill holes reported, for example, 4.8 g/t Au over 1.9 m and 6.34% Cu over 5.1 m. (This historical information was prepared by previous operators and is non 43-101 compliant. A qualified person has not done sufficient work to review the quoted numbers and they should not be relied upon.)

Increased activity on the iron properties of the Champion Minerals Inc. ("Champion"), option in the Fermont Iron Ore District of northeastern Quebec, will see further benefits for the Company as the final Champion option cash, share payments, and work expenditures to vest at 65% will take place in the coming months. Champion previously announced a Mineral Resource Estimate on the Bellechasse and Fire Lake North Claim Blocks under NI 43-101 guidelines. The estimate totals 503.3 million tonnes grading 28.0% iron in the Inferred Mineral Resources category. Bellechasse hosts 215.1 million tones grading 28.7% iron, whereas Fire Lake North hosts 288.2 million tonnes grading 27.5% iron (all at a 15% iron cut-off grade). Champion had previously announced 8 claim blocks with historical mineral resources of 694 million tones grading 30.4% iron, but now after 2 of the 8 claim blocks (Bellechase and Fire Lake North) host a current MRE, there are 6 remaining claim blocks that host historical mineral resources of 578 million tones grading 30.4% iron. Refer to the Champion website for further details - [ www.championminerals.com ].

ON BEHALF OF THE BOARD

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

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


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.


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