Fancamp Announces Receipt of Extension Notice of Maturity Date of Secured Convertible Promissory Note

VANCOUVER, British Columbia, March 02, 2026 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) announced today that Fancamp has received notice from The Canadian Chrome Company Inc. (formerly KWG Resources Inc.) (“CCC”) of the exercise of its one-time option to extend the maturity date of the secured convertible promissory note dated September 1, 2022 issued by CCC in favour of Fancamp. The maturity date of the secured convertible promissory note will be extended from September 1, 2026 to August 31, 2027, provided there is no event of default under the secured convertible promissory note on or before September 1, 2026.

About Secured Convertible Promissory Note

As previously announced, Fancamp agreed to sell its beneficial interests in the Koper Lake-McFaulds mining claims located in Ontario’s Ring of Fire region to CCC in exchange for a C$34.5 million secured convertible promissory note bearing 6% annual interest along with certain equity interests in CCC (warrants to purchase multiple voting shares of CCC) and a 2% net smelter return royalty on the claims partially subject to buy-down and right of first refusal provisions. Interest on the note may be paid in cash or multiple voting shares of CCC and Fancamp has the right to convert the secured convertible promissory note’s principal into multiple voting shares of CCC at structured conversion prices over time. The secured convertible promissory note has a maturity of four years from date of issuance provided CCC has a one-time option to extend the maturity date of the secured convertible promissory note for an additional one year if there is no event of default under the secured convertible promissory note on or before September 1, 2026.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a Canadian mineral exploration company focused on creating value through medium-term growth and monetization opportunities with strategic interests in high potential mineral projects, a royalty portfolio, and exploration properties. The Corporation is focused on the advancement of its growing portfolio of mineral claims across Ontario, Québec and New Brunswick, and has diversified exposure to copper, gold, zinc, titanium, chromium, iron, strategic rare-earth metals, among others. The Corporation has monetization opportunities from its transaction with The Canadian Chrome Company Inc. in the highly sought-after Ring of Fire in Northern Ontario. The Corporation’s investments include stakes in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., a copper–gold exploration company, PTX Metals Inc. and an investment in a near-term cash flow generating zinc mine in Nova Scotia, EDM Resources Inc., among others. The Corporation’s diverse royalty portfolio includes a future finite production payment on certain Fermont Properties owned by Champion Iron Limited and 2% NSR on Black Horse mining claims in the Ring of Fire. The Corporation holds 96% interests in Magpie Mines Inc., which owns the Magpie property, one of the world’s largest undeveloped hard rock titanium (+V) deposits, per USGS data. The Corporation has newly incorporated a subsidiary, Goldera Exploration Ltd., as part of a strategic reorganization of the Corporation’s assets, pursuant to which it intends to spin out its interests in core exploration projects into Goldera, creating two distinct value-creating entities for its shareholders (refer to press releases dated December 1, 2025 and February 10, 2026).

Further information on the Corporation can be found at: www.fancamp.ca

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