Fancamp joint ventures two Quebec properties

Westminer may earn up to a 50% interest in the property by spending $400,000 over three years and making cash payments totalling $52,500. Fancamp may then participate, and if not, Westminer may earn an additional 20% interest by spending $600,000.

Work is scheduled to begin immediately. The property is located in the Chibougamau pluton and has never been explored. Values up to 0.13 oz gold per ton have been obtained from grab samples.

Fancamp has also signed a joint venture agreement involving its 71-claim Lake St. Jean area property with Yellow Band Resources (VSE). Under the terms of the agreement, Yellow Band may earn a 50% interest in the property by spending $248,500 and making cash payments totalling $71,000 over three years. The company can earn an additional 20% interest by spending $532,500.

The property consists of two claim blocks located on the western margin of the Lac St. Jean anorthosite, near a nickel-copper discovery made last year.

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