Fancamp Exploration Ltd. announced that it has entered into a joint venture arrangement with Platinex Inc. to facilitate advancing the exploration and development of certain gold mineral properties held by the parties located in Ontario. As part of the contemplated transaction (the “Transaction"), Platinex and the Corporation will: transfer Fancamp's Heenan Mallard and Dorothy properties and Platinex's Shining Tree property to South Timmins Mining Inc. ("Goldco"), a wholly owned subsidiary of Platinex. Subsequent to the Transaction, Goldco will be held 25% by Fancamp and 75% by Platinex.

Fancamp will have an option to increase its shareholding to 50% on the basis described below; enter into a shareholders' agreement in relation to the governance of Goldco's operation; and enter into a subscription agreement, whereby the Corporation will purchase 9.5% of the issued and outstanding shares of Platinex.