Technology development

Fancamp provides an update on its technology development progress in titanium as an industry complement covering raw materials for recovering waste streams and other corporate issues

Fancamp Exploration Ltd.

VANCOUVER, British Columbia, Feb. 23. 2022 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX Venture Exchange: FNC) is pleased to announce that it has advanced its application for six international patents for the development of titanium technology. These patents are designed to complement existing industrial processes and waste recovery in the mining and pigment industry. The six patents filed are as follows:

  • Agglomeration of fines to allow recovery and the ability to make pigments from what was historically a yield loss on the feed.

  • Improved TiO2 raw material that competes with sands and synthetic rutile (from fusion).

  • Slag upgrading by reducing metallic salts such as magnesium and calcium to make it compatible with the chloride process.

  • Selective recovery of critical elements such as rare earths from titanium and iron rich resources.

  • Production of metallic titanium from off-spec pigments and bag dust.

  • Production of titanium metal for the expanding 3D printing market.

Agglomeration: Fancamp has filed a patent for the process of recovering fine bag dust from the chloride process generally used by the pigment industry worldwide. In the Western world this process represents 80% of the pigment produced. It continues to grow as a total percentage due to the environmental challenges associated with the sulfate process. This solution is intended to eliminate the loss of 6-15% of the bag filter feed as fines.

Improved TiO2: Fancamp has produced an improved raw material acceptable for the two main processes used for the production of pigments from its 100% owned Mingan resource, located in the Havre St Pierre area which is well known for supplying raw material to the titanium industry. This resource has a starting grade of 35% TiO2 and has been successfully upgraded, without requiring smelting, to over 80% TiO2 acceptable for sulphate and chloride processes. The tests were carried out in the independent laboratories of Corem in Quebec.

This new process produces a product that meets the specifications of the chloride process without the need for melting and respects the rigid limits of salt metals. It is a very compact operation that eliminates additional steps to reduce salt metals, many of the challenges associated with other processes with acid/water balances and plant size. The chemical results of the product are as follows:

Element

%

Element

%

TiO2

86.34

MgO

0.338

SiO2

0.508

MnO

0.064

Al2O3

1.6

V2O5

0.004

Fe2O3

5.518

FeO

1.404

This product also performed well in sulfate digestion with over 96% recovery.

Selective removal of salt metals in synthetic (slag) rutile with selective leaching: Most hard rock resources that have good TiO2 grades that can be upgraded to TiO2 by pyrometallurgy have a problem with saline metals like MgO concentrating with the TiO2. In keeping with the theme of a complement to existing industry, Fancamp’s new method selectively removes salt metals without leaching TiO2 and iron, eliminating the need for acid regeneration. This process is very compact with low capex, less expensive construction materials and has a significant advantage for acid water balances.

Selective recovery of critical elements from titanium iron rich resources: Fancamp has developed efficient and cost-effective selective leaching of low-grade titanium mineral resources and focuses on critical elements such as rare earths, vanadium and scandium. This process makes it possible to recover these elements without having to use the acid on the titanium and the iron which increases the costs. This process can facilitate the exploitation of previously uneconomic low-grade titanium mineral deposits as well as waste streams accumulated by pigment producers. The theme of complementing industry is reaffirmed. Many deposits around the world are not ideal for the steel industry due to their titanium contamination and many have a TiO2 content that is too low for the pigment industry. These resources often contain valuable critical rare earth elements such as scandium and vanadium which this process helps to unlock value.

Metallic titanium: This process can convert industry resources or waste streams, whether off-specification pigments, fine particles of bag dust or other items into the valuable titanium metal. Testing work is at an advanced stage and Fancamp is evaluating options for a pilot plant and has begun discussions with potential partners. This process is a complement to industries with off-spec materials and waste streams like fines. Fancamp is able to convert these materials into valuable titanium metal ($30,000/metric ton) and reduce the losses incurred during pigment production. Fancamp sees growth potential in converting titanium to meet the needs of the growing 3D printing industry.

Enrico Di Cesare, Fancamp’s technical expert responsible for leading the development of these new technologies, said: “We are pleased to report on these new developments in the efficient recovery of high-grade titanium, rare earths and other critical waste metals, in addition to the exclusive property of Fancamp. resources in Quebec. All developments take into account products usable by marketable products to help reduce the environmental footprint. We will actively pursue discussions with the industry for win-win partnerships”

The Company is pleased to announce that it has entered into an Investor Relations Agreement (the “Agreement”) with MI3 Financial Communications Inc. (“MI3”). The agreement is for a term of one year, which may be terminated earlier at any time upon 30 days written notice by either party. In return for MI3’s services, the Society agreed to pay a fee of $3,000 per month. Pursuant to the agreement, the Company granted MI3 a stock option to purchase up to 250,000 common shares of Fancamp, at a price of $0.12 per share, for a period of 5 years. with vesting over one year, in three-month increments. MI3 is not related to the Company and has no direct or indirect material interest in Fancamp or its securities, other than the stock options described above.

In addition, the Company granted options to acquire up to an aggregate of 1,070,000 common shares of the Company to employees and consultants, pursuant to the Company’s stock option plan, at a price of exercise of $0.12 per share for a period of five years.

About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration company dedicated to its value-added strategy of advancing its priority mineral properties through innovative exploration and development. The Company owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including chromium, strategic rare earth metals, gold, zinc, titanium and more. Fancamp’s chrome properties in Northern Ontario’s highly sought-after Ring of Fire are strategically located. Its properties of rare earth elements in Quebec are the subject of particular attention. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, in addition to an investment in a zinc mine slated for restart in Nova Scotia. Fancamp is developing energy reduction technology with its advanced titanium mining strategy. The Company is managed by a focused management team with decades of experience in mining, exploration and complementary technologies.

Forward-looking statements

This press release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities laws. These forward-looking statements include, but are not limited to, forecasts, estimates, expectations and targets for future activities that are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. of the society. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to ‘, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or are events or conditions which ‘will’, ‘would’, ‘could’, ‘could’ or ‘should’ occur or be achieved.

Although Fancamp believes that the material factors, expectations and assumptions underlying these forward-looking statements are reasonable based on information available to it as of the date such statements were made, no assurance can be given as to future results. of these statements.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from those anticipated in these forward-looking statements.

Readers are cautioned that the above list of factors is not exhaustive. Statements, including forward-looking statements, are made as of the date on which they are made and, except as required by applicable securities laws, Fancamp disclaims any intention or obligation to publicly update or revise the statements. forward-looking, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

For more information

Rajesh Sharma, President and CEO

Debra Chapman, Chief Financial Officer

+1 (604) 434 8829

+1 (604) 434 8829

[email protected]

[email protected]

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