Fancamp Enters Into Rights Agreement Governing Certain Investor Rights and Obligations With Lamelee Iron Ore Ltd.

Fancamp Exploration Ltd. ("Fancamp" or the "Company") (TSX:FNC) is pleased to
announce that it has entered into a rights agreement governing certain investor
rights and obligations with Lamelee Iron Ore Ltd. ("Lamelee") on May 5, 2014
(the "Agreement"). This Agreement is designed to facilitate the long-term
success for both Lamelee and Fancamp with a view to maximize shareholder value. 


The Agreement enables Lamelee to have stability within the board of directors
and management to foster a relationship of trust between Fancamp and Lamelee.
Fancamp believes that the Agreement will permit Lamelee to implement its
long-term business plan. Fancamp supports the implementation of the Lamelee
business plan, which is aimed at bringing its project to the production stage as
quickly and efficiently as possible.


In order to better provide full stewardship to Lamelee, the Agreement provides
for limitations in respect of the transfer and voting of Lamelee shares as well
as the right for Fancamp to nominate a representative to the Lamelee board of
directors and other standstill obligations.


Transfer by Fancamp

More specifically under the Agreement, Fancamp will be restricted from selling
and/or transferring its shareholdings of Lamelee for a period of five years,
without obtaining the prior written consent of Lamelee, after which time
transfers will be permitted subject to certain restrictions. 


Voting Restrictions

Subject to termination events such as a change of control, a take-over bid or a
change in the majority of the Lamelee directors in favour of directors not
supported by the current Lamelee management, Fancamp will be limited from voting
in certain circumstances, including not voting against the election of directors
proposed by the then incumbent Lamelee board of directors.


Nomination Rights

Fancamp will be entitled to nominate one person to the board of directors of
Lamelee so long as Fancamp holds at least 10% of the issued and outstanding
Lamelee shares.


Standstill 

Subject to termination events, including those indicated above, Fancamp will be
restricted from committing to tender or act in concert with an offeror in a
take-over bid of any securities of Lamelee, assisting in a change of control of
Fancamp and soliciting proxies from shareholders of Lamelee or attempting to
influence the voting of such shareholders.


The entering into this Agreement with a related party is exempt from the formal
valuation and shareholder approval requirements provided under Regulation 61-101
respecting Protection of Minority Holders in Special Transactions ("Regulation
61-101") in accordance with the terms of said Regulation 61-101.


A copy of the Agreement will be filed with Fancamp's documents on the SEDAR
website at www.sedar.com.


Statements made in this news release that are "forward-looking statements" are
not  historical facts. Readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or results may
vary materially from those stated herein.


About Fancamp Exploration Ltd (www.fancampexplorationltd.ca) 

Fancamp Exploration Ltd. is a Canadian junior mineral exploration company that
continues to evolve into a holder of shares in partner companies and royalties
on near-term producing mines. These assets are designed to generate free cash
flow without further shareholder dilution. Fancamp has an exceptional inventory
of resource projects at various stages of development covering more than 1,710
km2 in three provinces. The commodities include hematite-magnetite iron
formations, titaniferous magnetite, hematite, nickel/copper/PGM, chromite,
Volcanogenic Massive Sulphides and gold. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Fancamp Exploration Ltd.
Peter H. Smith
President, CEO and Chairman
[phone]
[e-mail]


Fancamp Exploration Ltd.
Michael D'Amico
Investor Relations
[phone]
[e-mail]
www.fancampexplorationltd.ca