Falcon Gold Intersects Gold-Bearing Quartz Vein System, Great Burnt Project
FALCON GOLD CORP.
Suite 200 – 3310 South Service Road
Burlington, Ontario, L7N 3M6
TEL: (604) 909-2070
www.falcongold.ca
NEWS RELEASE FG: TSXV
3FA: FRA
Falcon Gold Intersects Gold-Bearing Quartz Vein System, Great Burnt Project
Vancouver, B.C., July 24th 2025 – Falcon Gold Corp. (TSX-V: FG, FSE: 3FA, OTC:PINKS: FGLDF) (“Falcon”
or the “Company”) is pleased to report results from its recently completed Phase I diamond drill program
at its 100%-owned Great Burnt Project in South-Central Newfoundland.
“Despite setbacks with our initial drill contractor, the results from our last three holes confirm we are
into a widespread and structurally controlled gold system,” commented Karim Rayani, CEO of Falcon
Gold. “While high grades have not yet been encounter ed, it’s still very early days. Our objective in this
initial phase — while conserving capital — was to test the broader geological theory and confirm the
presence of a mineralizing system. We’re working our way from the outside in, and so far, the results
are encouraging. Our geological team is very excited by these preliminary findings, especially since
these three holes delivered unexpectedly strong alteration and veining, suggesting we’re in the right
environment.”
Project Overview
Falcon’s Great Burnt Project is strategically located in South-Central Newfoundland, a region rapidly
emerging as a mineral exploration hub. The project is perfectly situated between Benton Resources’ Great
Burnt copper-gold discovery to the south and First Atlantic’s holdings to the north, placing Falcon within
a highly prospective mineralized corridor.
The project lies within the Baie d’Espoir Group, consisting of silicic volcanic and sedimentary rocks known
to host copper and gold mineralization. Regional-scale structures crosscut the area, acting as conduits for
mineralizing fluids — a key geological control observed in this early-stage program.
Phase I Drill Program – Key Results
Holes GB24-01 and GB24-02 did not reach the intended target horizon. However, a detailed evaluation
of the data led to a more precise positioning of holes GB25-01 to GB25-03 which successfully intersected
a large alteration system with associated gold mineralized veins
Details of GB25-01 to GB25-03
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Falcon completed an additional three drill holes (GB25 -01 to GB25 -03) totaling 524 metres of NQ -sized
core as part of the inaugural Phase I drill program. The program was designed to test a 250 -metre strike
length of favorable geology to a maximum vertical depth of 140 metres.
These three holes successfully intersected a broad system of gold -bearing quartz veins, forming
stockworks and vein clusters within both silicic volcanic and sedimentary host rocks. The vein system is
accompanied by alteration minerals including quartz, ch lorite, calcite, sericite, epidote, and iron
carbonate — all indicative of a well-developed hydrothermal system.
Sulfide mineralization consisting of pyrrhotite, pyrite, and minor chalcopyrite occurs as stringers,
disseminations, and clots within the quartz-veined zones, suggesting potential for both precious and base
metal enrichment.
Selected results include:
• GB25-01: Gold values ranging from 7 to 146 ppb Au in quartz -veined sections between 80.80 m and
95.00 m. Additional anomalous values (11–20 ppb Au) noted near the bottom of the hole.
• GB25-02: Drilled 250 m northeast along strike, returned 19 to 107 ppb Au between 131.96 and 146.00
m — consistent with GB25-01 stratigraphically, suggesting vertically stacked mineralized shoots.
• GB25-03: Drilled from the same collar as GB25-02 but at a different azimuth, intersected a new zone of
quartz veining yielding 137 ppb Au over 0.60 m, indicating mineralization extends 120 m west of the initial
zone.
Project Logistics and Next Steps
While the Great Burnt camp is not fully remote, limited road access and heavy snowfall during drilling
created logistical challenges, particularly for fuel and equipment delivery. These constraints placed
pressure on the exploration budget and limited Falc on’s ability to extend the program beyond the initial
five holes. To address these challenges and support a more efficient future operation, Falcon will invest
heavily in infrastructure, including the construction of a fully serviced exploration camp and upgraded
road access. These improvements are expected to significantly enhance project access, reduce operating
costs, and allow for longer, uninterrupted exploration programs.
In the near term, Falcon will pause further drilling to complete induced polarization (IP) surveys, drone
magnetics, large loop TDEM over the higher priority airborne TDEM anomalies combined targeted ground-
truthing. This next phase of detailed geophysics will help clarify the structural framework, refine drill
targets, and position the Company to launch an expanded Phase II drill program with improved precision.
“Given the road and weather -related logistical constraints we encountered, we’ve made the prudent
decision to pause further drilling while we complete critical geophysics and surface work,” added
Rayani. “As part of our long -term vision, we are fully committed to building out the infrastructure
needed to support continued success at Great Burnt.”
The Great Burnt Project lies within a prolific sulphide corridor, flanked to the south by Benton Resources
and to the north by First Atlantic, both of which have recently delivered compelling drill results. This
regional success further underscores the prospectivity of Falcon’s targets.
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Falcon is now following up with induced polarization (IP) surveys, drone magnetics, large loop TDEM over
the higher priority airborne TDEM anomalies combined targeted ground -truthing. To better understand
and confirm the structural framework which will prepare the seconday phase for further success with
improved precision.
Qualified Person
Victor French, P. Geo, an independent qualified person as defined in National Instrument 43 -101, has
reviewed, and approved the technical contents of this news release on behalf of the Company.
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 De posit 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). Ref:
https://www.agnicoeagle.com/English/exploration/exploration-projects/Hammond-Reef/default.aspx
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 neighboring properties results do not
necessarily apply to the current project or property being disclosed
The Company holds multiple additional projects: a 49% interest in the Burton Gold property with Iamgold
near Sudbury Ontario; Spitfire -Sunny Boy, claims in B.C.; Great Burnt Copper -Gold Project in Central
Newfoundland, and most recently battery metals projects, Timmins West Nickel-Copper-Cobalt Property
Ontario, Outarde Nickel-Copper-Cobalt Property, and the Nickel North property in Quebec.
CONTACT INFORMATION:
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 909-2070
Email: [email protected]
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 futur e events and conditions and therefore,
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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.