Falcon’S Baie Verte Property Option to Carmanah Minerals Awaits Final TSX-V Approval
1 | P a g e
NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON’S BAIE VERTE PROPERTY OPTION TO CARMANAH MINERALS AWAITS
FINAL TSX-V APPROVAL
Vancouver, B.C., September 7, 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), hold 1,185
totaling 29,525 hectares located along the Baie Verte Brompton Line (“BVBL”) in Central Newfoundland.
Marvel and Falcon agreed to option their interests in the Property to Carmanah Minerals Corp., previously
announced on July 8 th 2023. Carmanah recently announced the acquisition of the Hare Hill Pluton Rare
Earth Project covering 162 claims totaling 4,050 hectares in Western Newfoundland. The Property is
directly contiguous to the recent “Bottom Brook Acquisition” by York Harbour Metals Inc., announced on
December 21, 2022.
The transaction is considered a non-arm’s length transaction as a result of the companies having directors
and officers in common and is subject to TSX-V approval. As per TSX-V Policy, an NI 43-101 resource report
and site visit has been completed pending final approval.
This transaction is beneficial for Marvel/Falcon. Having a large equity stake in Carmanah positions both
companies favorably as exploration at the BVBL moves forward. Meanwhile, the option agreement
enables Carmanah to develop a significant land position in the camp next to York Harbour’s Bottom Brook
Property. The Hare Hill granitic system is prospective for rare -earth mineralization, as recently reported
by York Harbour Metals, whose grab rock samples returned total rare earth oxide grades (TREO) between
3.45% and 21.63% TREO. Previously, Kirrin Resources Inc. reported drilling results that included 4.47%
TREO over 5.64m core lengths and 1.16% TREO over 15.3m core lengths on the Bottom Brook projec t in
February 2011.
Carmanah will make cash payments totaling $155,000 over a 4 -year period and issue 5 million common
shares, and 5 million share purchase warrants exercisable at 10 cents per share for a period of 3 years
from the date of issue. The distribution will be a 60/40 split in favor of Marvel, with 3,000,000 shares and
$93,000 issued to Marvel, and 2,000,000 shares and $62,000 issued to Falcon.
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
FALCON GOLD CORP.
Suite 1100 – 1111 Melville St.
Vancouver, BC, V6E 3V6
VANCOUVER TEL: (604) 716-1036
TORONTO TEL: (416) 477-1220
www.falcongold.ca
2 | P a g e
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 mi llion 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% i nterest 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) 716-1036
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 a ccurate,
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, 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 concerning these times. Except as required by law, the Company does not assume any
obligation to update the for ward-looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.