Fancamp Regains Control of One of the World's Largest Iron Titanium Historic Deposits: Announces Results of Magpie Mines AGM

Company Overview - Fancamp Exploration Ltd. has regained control of Magpie Mines, which holds the Magpie deposit, one of the world's largest undeveloped hard rock iron-titanium deposits located in Havre St-Pierre, Quebec [3][4] - The company holds approximately 96% of the issued and outstanding shares of Magpie Mines and a 2% net smelter return royalty on the Magpie Titanium property [4] Management and Governance - At the Annual General Meeting of Magpie Mines held on July 17, 2025, shareholders voted to elect three directors: Rajesh Sharma, Mark Billings, and Charles Tarnocai [1] - Mark Billings has been appointed as Chairman, Rajesh Sharma as President and CEO, Arnab Kumar De as CFO, and Debra Chapman as Corporate Secretary [2] Project Details - The Magpie Fe-Ti-V deposit is recognized as one of the largest undeveloped titanium resources globally, with significant vanadium deposits [5] - The Magpie 2 deposit has an Historical Mineral Resource Estimate of 635.2 million tonnes grading 42.49% Fe, 11.20% TiO₂, and 0.3% V₂O₅ in the indicated category, with an additional inferred resource of 239.2 million tonnes grading 42.29% Fe, 11.21% TiO₂, and 0.32% V₂O₅ [6] - The project has significant expansion potential in four previously undrilled areas that exhibit geological characteristics similar to the main deposit [7] Strategic Importance - Titanium and vanadium are classified as critical minerals with key applications in aerospace, medical technology, specialty steel, and batteries, facing global supply chain concerns [7] - The Magpie deposit is a principal source for vanadium extraction, which is essential for various industries [7] Future Outlook - The company is focused on advancing the Magpie asset in light of the strategic importance of titanium amid global supply chain challenges [3]