Fancamp Grants Option

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 24, 2008) - Fancamp Exploration Ltd. (TSX VENTURE: FNC.V): The Company wishes to announce that it is granting director and officer incentive stock options to purchase up to a total of 750,000 common shares in its capital stock, at a price of $1.90 per share, exercisable on or before July 23, 2013. The options were granted pursuant to the Company's incentive stock option plan, under which a maximum of 10 percent of the issued and outstanding common shares are reserved for issuance. Shares issuable upon exercise of the incentive stock options are subject to a 4 month TSX Venture Exchange hold period, commencing on the date the incentive stock options are granted.

The Company also wishes to point out that the McFauld's Lake drill program is on schedule to begin before month end.

The closing price of the Company's shares on July 23, 2008 was $1.89.

The above is subject to acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., P.Eng., President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Peter H. Smith
Fancamp Exploration Ltd.
President
(514) 481-3172
(604) 434-8823 (FAX)
Website: www.fancampexplorationltd.ca