Falcon Provides Exploration Update at Its Hope Brook Project Contiguous to Benton-Sokoman’S JV, Nfld.
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON PROVIDES EXPLORATION UPDATE AT ITS HOPE BROOK PROJECT
CONTIGUOUS TO BENTON-SOKOMAN’S JV, NFLD.
Vancouver, B.C., September 23, 2022, Falcon Gold Corp . (FG: TSX -V), (3FA: GR), (FGLDF: OT CQB),
("Falcon"); and Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB), (“Marvel”);
and together (the “Alliance”) are pleased to provide an update on their combined exploration
focus for their Hope Brook Projects which are strategically located contiguous to Benton -
Sokoman Joint Venture, and First Mining’s ground which was recently optioned to Big Ridge
Exploration. T he Alliance had originally planned to complete high resolution magnetic
gradiometer surveys over the project area, a proven method to distinguish structural
complexities in geological terranes. Start of the survey work has been delayed due to helicopter
availability from forest fires in Central Newfoundland, a state of emergency was issued. Providing
the Alliance an opportunity to conduct a geophysical review and structural interpretation over
the Hope Brook project area in advance of the survey and surface work. The Alliance is pleased
to announce that the geophysical review has identified kilometer-scale shear zone corridors, and
a major fold closure, interpreted from the magnetic patterns, within the Hope Brook Property
area. These will be the fo cus of prospecting and till sampling projects employed to verify the
structures and determine their mineralization potential. With recent success in identifying
anomalous gold, tungsten, silver and copper reported by Falcon at their Gander North Property
(September 15, 2022), the Alliance has shifted their exploration focus to the Gander district.
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. Location of Falcon’s and Marvel’s Hope Brook gold joint venture property contiguous to First
Mining and the Benton- Sokoman joint venture.
In the past year, Benton-Sokoman made headlines announcing the first High Grade Discovery of Lithium
bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 1 km
away from the combined ground held by Falcon and Marvel, a nd appears to be the same structural
corridor covered by the Alliance land tenure. The 35 grab and chip samples noted in the Benton-Sokoman
NR (September 16th 2021) were collected over a 2 km distance. Their sampling program confirmed the
presence of lithium pegmatites, and the first significant occurrence of Lithium documented in the province
of Newfoundland and Labrador, Canada.
Falcon and Marvel recently formed a strategic partnership (November 17, 2021) that combines both the
Hope Brook and Baie Verte Brompton District properties covering a combined 115,170 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 po sition straddles both the
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eastern and western extents of recent land acquisitions by the Benton-Sokoman JV partnership, 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.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in
production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned
by Coastal Gold Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68
grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.
Qualified Person
The technical content of this news release has been 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 14 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 m ining camp; a 49% interest in the Burton
Gold property with Iamgold 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
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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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 proposed Arrangement.
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
parties, are inherently subject to significant business, economic, comp etitive, political and social
uncertainties and contingencies. Readers should not place undue reliance on the forward -looking
statements and information contained in this news release concerning 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
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.