Falcon Mobilizes Crews at Springpole WEST, Red Lake District Contiguous to First Mining’S Ground
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON MOBILIZES CREWS AT SPRINGPOLE WEST, RED LAKE DISTRICT
CONTIGUOUS TO FIRST MINING’S GROUND
Vancouver, B.C., June 20th, 2023, Falcon Gold Corp. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); ("Falcon" or
the “ Company”) is pleased to announce summer exploration has commenced at its Springpole West
property in the Red Lake mining district.
The Company has initiated a two-phase surface exploration program that will include a GPS-controlled
Magnetometer surface survey, and a soil Geochemistry program. Falcon controls an extensive land
package within the underexplored Birch-Uchi Greenstone Belt, and the Company’s initial program at the
property will be conducted as a “first pass” reconnaissance program in order to evaluate the property’s
mineral potential. It is anticipated that s uccess with the initial project will lead to follow-up with more
detailed fieldwork, including prospecting, geological mapping, geochemical and geophysical surveys over
important target areas. Falcon’s initial exploration program is expected to wrap up in mid-July.
Falcon’s Springpole West Property is located within the Birch-Uchi Greenstone Belt, a tectonically complex
volcano-sedimentary belt within the western Uchi Subprovince in Northwestern Ontario. The property
comprises 197 claims co vering 217 units and extends northeast from the McNaughton Township for
approximately 22 km. The northeastern part of the property is less than 4 km from the Springpole Gold
deposit, one of the largest undeveloped gold projects in Ontario.
The claims cover a potentially gold-bearing silicified mafic volcanic–sedimentary rock contact, and a major
property-wide fault zone, over a 13.5 km strike length . Historical work has identified significant gold and
silver values on surface and at depth. In 1979, a diamond drill hole by Sherritt Gordon Mines Ltd.
intersected 19.40 g/t Au over 30 centimeters within a deformation zone hosted within a quartz vein -
stockwork system. In addition, massive sulphide pods along the fault zone have reportedly been
historically exploited by former operators who have reported surface grab samples that returned up to
8.38% Zn, 16 g/t Ag and 0.05 g/t Au . Historic drilling of geophysical anomalies along the fault zone have
reportedly intersected 0.25% Cu, 2.68% Zn, and 0.05 g/t Au over 1 meter (BP Resources, 1985).
The Property is directly contiguous to First Mining Gold Corp.’s (“First Mining”) Springpole Gold Deposit,
which is repo rted as one of the largest undeveloped gold projects in Canada . The Property covers the
same geological terrain as that world class gold deposit. First Mining completed its preliminary economic
assessment (“PEA”) in November 2019 and reported an Indicated Resource of 139.1 Mt grading 1.04 g/t
Au and 5.4 g/t Ag, containing 4,670,000 ounces of Au and 24,190,000 ounces of Ag, as well as an Inferred
Resource of 11.4 Mt, averaging 0.63 g/t Au and 3.1 g/t Ag, containing 230,000 ounces of Au and 1,120,000
FALCON GOLD CORP.
Suite 1903 – 808 Nelson Street
Vancouver, BC, V6Z 2H2
PO Box 12194
VANCOUVER TEL: (604) 670-0019
TORONTO TEL: (416) 477-1220
www.falcongold.ca
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ounces of Ag.
The area is accessible by float plane, ATV trail, and winter road. The Property is within 6 km of an all -
weather gravel road and hydro-electric transmission lines are close by.
Mr. Karim Rayani, Chief Executive Officer , commented, “Falcon is pleased to initiate our first boots -on-
ground exploration program at Springpole West. With First Mining improving the local infrastructure in
partnership with local First Nations communities and the Ontario Government, the Company identified the
rising potential of the area. The project is perfectly situated on a major fault covering 13.5 km of strike
length. We look forward to reporting back once we have received the initial results from our prospecting
and soil program.”
FIGURE 1: Falcon Gold’s Springpole West Project in Northwest Ontario, Canada
The company also notes it has decided not to proceed with renewing the Central Canada expansion claims,
which are early-stage greenfield claims. The Company still holds its main target , the Central Canada
Project which is our flagship asset.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Greg Robinson, P.Geo.,
who is a Qualified Person as defined by National Instrument 43 -101, Standards of Disclosure for Mineral
Projects.
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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 gradi ng 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
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
any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking
statements in this press release relate to, among other things: completion of the Spin -Out. Actual future
results may differ materially. There can be no assurance that such statements will prove to be accurate,
and actual results and future events could differ materially from those anticipated in such statements.
There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the
beliefs, opinions, and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the respective part ies, are inherently
subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Readers should not place undue reliance on the forward-looking statements and information contained in
this news release conce rning these times. Except as required by law, the Company does not assume any
obligation to update the forward -looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
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responsibility for the adequacy or accuracy of this release.