Pinks Falcon Receives Conditional Approval - Private Placement
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTC PINKS
FALCON RECEIVES CONDITIONAL APPROVAL - PRIVATE PLACEMENT
Vancouver, B.C., December 16, 2020. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTC PINKS);
("Falcon" or the “Company") is pleased to report the Company has received conditional acceptance for its
previously announced private placement on December 2nd 2020, from the TSX Venture Exchange.
The terms of the financing are as follows;
The Company intends to raise $750,000 by way of a non-brokered private placement of units. Each Unit
is priced at $0. 12 and consists of one Fal con common share and one non -transferable warrant. Each
Warrant entitles the holder to purchase a new common share at a price of $0. 20 for 36 month term
following the acceptance date. The shares and warrants are subject to a 4 month hold.
The use of proceeds will be for continued exploratio n on existing properties, outstanding payables, and
general working capital. While the Company intends to use the proceeds as stated above, there may be
circumstances where, for sound business reasons, funds may be reallocated at the discretion of the Board.
The closing of the Private Placement Financing, including the issuance of the securities are subject to
Exchange approval.
About Falcon Gold Corp., the Central Canada Gold Mine Project, and Jack Lake Trend
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 k m south east of Agnico Eagle’s Hammond Reef Gold Deposit which has Measured & Indicated
estimated resources of 208 million tonnes containing 4.5 million ounces of gold. The Hammond Reef gold
property lies on the Hammond fault which is a splay off of the Quetico Fault Zone (“QFZ”) and may be the
control for the gold deposit. The Central Gold property lies on a similar major splay of the QFZ.
History of Central Canada gold mine includes;
1901 to 1907 - Shaft constructed to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill.
1930 to 1934 – Central Canada Mines Ltd. installed a 75 ton per day gold mill. Development work included
1,829 m of drilling and a vertical shaft to a depth of 45 m with about 42 m of crosscuts and drifts on the
100-foot level. In December, 1934 the mine had reportedly outlined approximately 230 ,000 ounces of
gold with an average grade of 9.9 g/t Au.
1935 – With the on-going financial crisis of the Great Depression, the Central Canada Mines was unable
to fund operations and the mine ceased operations.
FALCON GOLD CORP.
110 – 175 Victory Ship Way
North Vancouver, BC, V7L 0B2
VANCOUVER TEL: (604) 670-0019
TORONTO TEL: (416) 477-1220
www.falcongold.ca
www.falcongold.ca
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1965 – Anjamin Mines completed diamond dril ling and in hole S2 returned a 2 ft section of 37.0 g/t Au
and hole S3 assayed 44.0 g/t Au across 7 ft.
1985 – Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection
showed 30.0 g/t Au.
2010 to 2012 – TerraX Minerals Inc. conducted programs that included line cutting, geological surveys and
363 m of drilling.
July 2020 – Falcon Gold Corp. completed its inaugural 7 -hole program totaling 1,055 m of core. In
addition, the Company acquired by staking an additional 7,477 ha of mineral claims consisting of 369 units
immediately south and northwest of Agnico Eagle Mines Ltd.’s Hammond Reef property.
The Company also holds 4 additional projects. The Camping Lake Gold 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 Gold Claims near Merritt, B.C.; and most recently, the Springpole West Property
near Red Lake, Ontario.
CONTACT INFORMATION:
Falcon Gold Corp.
“Karim Rayani”
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
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, 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 d efined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.