Falcon Gold Corp, Engages Warrior Drilling at Its Great Burnt Copper - Gold Project

Rhea-AI Summary

Falcon Gold Corp (TSXV: FG) has engaged Warrior Drilling to conduct exploration operations at its Great Burnt Project in Newfoundland's Central Belt. The company plans to initiate a 10-hole drill program targeting areas identified through geophysics and historical drilling.

The decision follows recent successful discoveries in the region, notably by Benton Resources, which reported 7.47% Cu over 22m including 8.0m of 11.93% Cu at its Great Burnt Main Zone. Falcon Gold believes the mineralized structure extends northward through its project area.

The company is currently preparing its exploration camp and mobilizing equipment. Additionally, Falcon Gold has signed a 4-month service agreement with Empire Market Ventures for digital marketing services, with a fee of $30,000 USD, pending TSX Venture approval.

Positive

• Strategic location near Benton Resources' high-grade copper discovery (7.47% Cu over 22m)
• Immediate commencement of 10-hole drill program
• Project located in proven mineralization zone with extension potential

Negative

• Additional $30,000 USD marketing expense
• No immediate revenue generation from exploration activities

Toronto, Ontario--(Newsfile Corp. - February 14, 2025) - Falcon Gold Corp. (TSXV: FG) (FSE: 3FA) ("Falcon" or the "Company") announces that it has engaged Warrior Drilling to take over exploration operations at its Great Burnt Project in Newfoundland. This decision aligns with Falcon Gold's strategy to accelerate exploration in a district that continues to demonstrate strong potential for high-grade copper and gold mineralization.

The Great Burnt Project is located in Newfoundland's Central Belt, an area that has been the focus of significant exploration success. Recent discoveries by Benton Resources (TSXV: BEX) and other regional explorers have highlighted the potential for high-grade copper and gold mineralization. Based on structural analysis and historical data, Falcon Gold believes that the mineralized structure extends northward through its project area, presenting a compelling exploration opportunity. Benton Resources recently announced 7.47% Cu over 22m including 8.0m of 11.93% Cu at it's Great Burnt Main Zone (see press release dated January 20, 2025).

The Company is currently preparing its exploration camp and mobilizing equipment to begin an initial 10-hole drill program. The program will focus on priority targets identified through geophysics and historical drilling, with the goal of expanding known mineralization and testing new high-potential zones along the interpreted structure.

CEO Karim Rayani, commented:
"With the success seen at Benton Resources and others in the area, we are highly encouraged by the potential at Great Burnt. Our geological team believes the mineralized structure extends north into our project, and this drill program will test that theory. We are excited to get drills turning and look forward to sharing results with our shareholders."

Once drilling commences, Falcon Gold expects to release assay results in the coming weeks, providing updates as exploration advances.

Service Agreement

The Company also notes it has signed a service agreement with Empire Market Ventures LLC., a U.S based public relations firm with a focus on digital media to enhance the Company's online presence and investor outreach. Empire will provide targeted digital marketing services, content creation, through social media campaigns, pod casts, and email outreach, all with a focus on increasing the company's visibility and engagement. Empire will be engaged for a period of 4-months and paid a fee of $ 30,000 USD. The agreement is subject to TSX Venture approval.

About Warrior Drilling
Warrior Drilling is a leading mineral exploration contractor specializing in high-precision drilling services across Canada. With a strong track record supporting junior and senior mining companies, Warrior Drilling is dedicated to efficient and high-quality exploration programs.

Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle's Hammond Reef Gold Deposit which currently has an estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds multiple additional projects: the Viernes Gold/Silver/Copper project in the world-class copper cluster located in Antofagasta, Chile; the Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; the Spitfire-Sunny Boy, claims in B.C.; the Great Burnt Copper Project Central Newfoundland, and most recently battery metals projects, Timmins West Nickel-Copper-Cobalt Property Ontario, Outarde Nickel-Copper-Cobalt Property, HSP Nickel-Copper property in northern Quebec and the Havre St. Pierre Anorthosite Complex respectively.

CONTACT INFORMATION:

Falcon Gold Corp.
"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: k@r7.capital

Cautionary Language and Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240944

FAQ

What are the recent drilling results near Falcon Gold's (FGLDF) Great Burnt Project?

Benton Resources recently reported 7.47% Cu over 22m including 8.0m of 11.93% Cu at its Great Burnt Main Zone, adjacent to Falcon Gold's project area.

How many drill holes is Falcon Gold (FGLDF) planning for its Great Burnt Project?

Falcon Gold is planning an initial 10-hole drill program focusing on priority targets identified through geophysics and historical drilling.

What is the cost of Falcon Gold's (FGLDF) new marketing agreement with Empire Market Ventures?

Falcon Gold has agreed to pay Empire Market Ventures $30,000 USD for a 4-month digital marketing service agreement.

Where is Falcon Gold's (FGLDF) Great Burnt Project located?

The Great Burnt Project is located in Newfoundland's Central Belt, an area known for significant exploration success and high-grade copper and gold mineralization.