Falcon Acquires Valentine Gold South Project Contiguous to Matador, along Strike of the Valentine Gold Deposit
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
Falcon Acquires Valentine Gold South Project Contiguous to Matador,
along Strike of the Valentine Gold Deposit
Vancouver, B.C., March 10, 2022. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB);
("Falcon" or the “Company ”) is delighted to announce it has acquired, via staking, a very large
and strategically located land position in the Valentine Lake South Area. This new land position
consisting of 605 claims (15,300 hectares) is contiguous to Marvel Discovery Corp, Matador
Mining, and Tru Precious Metals Corp (TRU). The Property also lies along strike from the Valentine
gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under
development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans
to commence high resolution magnetic surveys upon approval of exploration permits.
During 2021, 22 holes were drilled by TRU on their Golden Rose Project, contiguous to the
Valentine Gold South Project, and assay results are just now being released. The first release of
results includes 12 metres (m) grading 1.01 grams per tonne (g/t) Au from drill hole WL -21-12
and 7 m grading 1.71 g/t Au from drill hole WL -21-06, including 2.39 g/t Au over 4m
(https://www.trupreciousmetals.com/news/tru-precious-metals-continues-to-intersect-gold-in-
new-drill-results-from-golden-rose-project)
FALCON GOLD CORP.
615 – 800 West Pender Street
Vancouver, BC, V6C 2V6
VANCOUVER TEL: (604) 670-0019
TORONTO TEL: (416) 477-1220
www.falcongold.ca
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Figure 1. Regional location of Falcon’s Valentine Lake South Gold property.
Falcon’s Chief Executive Officer, Karim Rayani commented, “This is an impressive land position
along the Valentine structural corridor . Our in-house studies have concluded that these crustal
scale deformation zones host Newfoundland’s larger gold deposits. They commonly have second-
to third-order structural components much like the gold deposits along the Cadillac -Larder Lake
and Destor -Porcupine fault zones of the Abitibi Subprovince of Ontario and Quebec. With
Marathon & Matador as neighbours, we are ideally situated between two of the most significant
gold deposits in Newfoundland. Our next steps are to run a high-resolution magnetic survey which
will help map this large territory with braided shear zones which lie proximal to these major fault
zones.”
Valentine South Property
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale
fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie
Verte–Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear
Zone (Figure 2) . The largest known gold deposit in Newfoundland occurs at Valentine Lake
(Marathon Gold Corp ,) in the footwall of the Victoria Lake Shear Zone . To date the Marathon
Gold has discovered five (5) deposits along a 20km trend and together these represent the largest
undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also
notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au
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(https://matadormining.com.au/cape-ray/). The newly acquired claims lie within the Valentine
Lake Structural Corridor and in an area of very little historical exploration. Recent structural
interpretations of regional scale geophysical surveys led Falc on Gold to the staking of this large
land package due numerous interpreted parallel trends and tertiary splay zones which are
considered highly prospective for gold mineralization.
Figure 2. Falcon Gold’s Valentine South property location along the Valentine structural corridor.
Qualified Person
Mr . Mike Kilbourne, P . Geo, an independent qualified person as defined in National Instrument 43-
101, has reviewed, and approved the technical co ntents of this news release on behalf of the
Company.
The QP has not completed sufficient work to verify the historic information on the properties
comprising the Valentine South property, particularly regarding historical exploration, neighboring
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companies, and government geological work. The information provides an indication of the
exploration potential of the Property but may not be representative of expected results.
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 20km southeast of Agnico Eagle’s Hammond Reef Gold De posit which has
currently 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 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions
located in La Rioja Province, Argentina. The Springpole West Property in the world -renowned
Red Lake mining camp; a 49% interest in the Burton Gold property with I amgold near Sudbury
Ontario; and in B.C., the Spitfire -Sunny Boy, Gaspard Gold claims; and most recently the Great
Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-
Sokoman’s JV, and Marvel Discovery in Central Newfoundland.
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 looki ng statements
address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ mater ially
from those currently anticipated in such 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 r isks 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.