Falcon Files Drill Permits at Hope Brook Near Kraken Pegmatite Field
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON FILES DRILL PERMITS AT HOPE BROOK NEAR KRAKEN PEGMATITE FIELD
Vancouver, B.C., July 25, 2023 - Falcon Gold Corp. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); and Marvel
Discovery Corp. (MARV: TSX.V), (04T: GR), (MARVF: OTCQB) together (the Alliance) are pleased to
announce that they have applied for drill permits to carry out activities on their Golden Brook prospects
within the Hope Brook Property in southern Newfoundland . Two permit applications have been
submitted, one for portable drilling across the property that will expand current prospecting permits and
allow for portable drill-testing of targets across the entire property, and a second permit was submitted
to diamond drill test prospects within the Kraken -Hydra trend, a trend represented by a 10km area of
limited exploration between Benton-Sokoman’s Kraken Li-Ta discoveries and the Hydra Cesium Discovery
(see Sokoman’s news release May 18, 2023).
The portable drill permit application provides the opportunity to enhance the preliminary reconnaissance
prospecting project completed in late spring and early summer , which identified the potential for
pegmatites from the nearby Kraken pegmatite field to extend into the adjacent tenure held by Falcon .
Though bedrock exposure in the area is limited, initial reconnaissance prospecting has resulted in the
discovery of a new and previously unrecognized swarm of pegmatite and aplite dykes, and assay results
from the sampling project are anticipated by early August. The diamond drill permit application includes
6 drill pad locations with 1,000 meters of drilling planned for 12 drill holes. The inaugural drill program
will test for potential lithium, tantalum, and cesium-bearing pegmatites along the Kraken-Hydra trend.
The Hope Brook Property covers a key central portion of the structural corridor along which the Kraken
and Killick pegmatite dykes, Li-Ta soil anomalies, and Hydra Cesium Pegmatite Dyke have all been reported
by Sokoman (see Sokoman’s news release March 28, 2023). Falcon has applied for financial assistance for
the Hope Brook project through Newfoundland’s Junior Exploration Assistance (JEA) Program.
Mr. Karim Rayani, Chief Executive Officer, commented, “An extreme fire season in Nfld l ast summer
coupled with helicopter availability shortages meant delaying our inaugural exploration campaign until
the spring of this year, and we took advantage of this current program to conduct regional scale
prospecting and soil sampling efforts and eagerly await results from the assay lab. We have always been
keen on our Lithium prospect, which we staked prior to the Lithium and Cesium discoveries by Sokoman
and where our desktop studies showed high potential for the continuation of trends onto our ground. To
have found a new swarm of pegmatite dykes is extremely encouraging and we are now gearing up for
detailed soil sampling and portable drill testing to further define anomalous areas in advance of our
inaugural diamond drilling campaign.”
FALCON GOLD CORP.
Suite 1903 – 808 Nelson Street
Vancouver, BC, V6 Z 2H2
PO Box 12194
VANCOUVER TEL: (604) 670 -0019
TORONTO TEL: (416) 477 -1220
www.falcongold.ca
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Figure 1. Location of Falcon’s, and Marvel’s Hope Brook gold joint venture property contiguous to
Benton-Sokoman’s joint venture.
Figure 2. Location of Falcon’s, and Marvel’s claims showing highly prospective structural corridor and
magnetic features similar to the Kraken Pegmatite Swarm.
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About the Alliance
Falcon and Marvel formed a strategic alliance on (November 17, 2021) that combines both companies’
Hope Brook District properties covering a combined 63,450 hectares to be explored on a 50 -50 Joint
Venture basis. The Hope Brook Property is hosted within the Exploits subzone of the central
Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures
linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First
Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to
those associated with Marathon Gold’s Valentine gold deposits, Sokoman’s Moosehead gold project and
New Found Gold’s Queensway gold project. The combined land position straddles both the eastern and
western extents of recent land acquisitions by the Benton/Sokoman JV par tnership, with the JV now
controlling areas of considerable structural complexity marked by large -scale fold and fault structures,
which provide important structural controls (traps) for gold mineralization within this area. The Falcon-
Marvel strategic partnership originally included the Baie Verte Brompton Line (BVBL) Properties, and both
companies announced the option of the BVBL property to Carmanah Minerals Corporation on June 8,
2023.
Qualified Person
The technical content of this news release has be en reviewed and approved by Greg Robinson, 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
20km southeast of Agnico Eagle’s Hammond Reef Gold Deposit 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 multiple additional projects: The Esperanza Gold/Silver/Copper mineral concessions
located in La Rioja Province, Argentina; The Viernes Gold/Silver/Copper project 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; in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims;
the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions
adjacent to First Mining, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland;
and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde
Property.
CONTACT INFORMATION:
Falcon Gold Corp.
“Karim Rayani”
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
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Email: [email protected]
Cautionary Language and Forward-Looking Statements
Certain statements in this release are forward -looking statements which reflect the expectations of
management. Forward-looking statements consist of statements that are not purely historical, including
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results may differ materially. There can be no assurance that such statements will prove to be accurate,
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subject to significant business, economic, competitive, political and social uncertainties and contingencies.
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