Falco Horne 5 Mining Project Bape Report Over 90% of project-related opinions already considered
Falco Horne 5 Mining Project Bape Report
Over 90% of project-related opinions already considered
MONTREAL, Jan. 07, 2025 -- Falco Resources Ltd. (TSX.V: FPC) (“ Falco” or the “Company”) welcomes the report of the
Bureau d'audiences publiques sur l'environnement (BAPE), in which the commission of inquiry brings to the attention of the
relevant decision-making bodies various elements that require commitments, actions or modifications, with a view to issuing
government authorizations. This commission examined the Falco Horne 5 mining project (the “ Project”) from a sustainable
development perspective, and, at this stage of the project’s development, it is customary for the commission to request
additional studies and analyses in order to clarify certain aspects of the Project. It is important to note that to date, more
than 90% of the commission’s opinions related to the Project have already been considered, planned or initiated.
Falco has summarized its main findings in a summary of highlights .
In addition, more than 50% of the commission's opinions suggested updating various existing studies. Falco wishes
to reiterate that these updates and analyses are already included in its project planning and will be submitted to government
authorities at the appropriate time, as part of the Quebec regulatory process for the Falco Horne 5 project.
In terms of content, the report:
• Sheds light on Rouyn-Noranda's current specific socio-community and health context.
• States that the methodology and the various approaches used to produce the predictive model are appropriate and
comply with best practices in the field, and that the estimates of seismic potential are therefore fully adequate.
• Emphasizes that the Project would contribute to the Plan québécois pour la valorisation des minéraux critiques et
stratégiques 2020-2025 and, in a real but moderate way, to Quebec's energy transition and decarbonization.
• Acknowledges that the Project could significantly stimulate and strengthen the regional and provincial mining industry,
and notes that it could also stimulate innovation and consolidate the activities of both regional and Quebec companies.
Application of the precautionary principle: at the heart of the commission's opinions
Falco welcomes the continued application of the precautionary principle in the report's conclusions and sees this as an
opportunity to further improve the Project, by continuing the work already begun, in close collaboration with stakeholders, local
communities and the relevant authorities.
Falco would also like to point out that many of the recommendations made by the commission in its report are also addressed
to the Quebec government, the City of Rouyn-Noranda and other partners, and that more than a third of the recommendations
offer avenues of reflection for the mining industry as a whole, which could contribute to its evolution in a more sustainable
development perspective. With the start-up anticipated for 2030, Falco has the time it needs to meet the expectations
expressed.
Health and safety: a priority
With the health and safety of Rouyn-Noranda's citizens at the heart of Falco's priorities, a committee of experts will be set up
in January 2025 to determine the acceptable parameters and operating conditions to ensure the cohabitation of the Project
and the Radio-Oncology Center of the Centre intégré de santé et de services sociaux de l'Abitibi-Témiscamingue (CISSSAT).
Several discussion groups have been or are in the process of being set up. These consultation mechanisms will give the
community the opportunity to actively participate in the search for appropriate solutions. The commission also recommended
that the Minister include in his decree the Integrity Program - residences and infrastructures , a Falco initiative that was
presented to the public in the fall of 2024.
Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, commented: “ Given the
project's stage of development, we expected the findings of the commission and fully accept the challenge of integrating its
main conclusions, which reflect the input of the groups participating in the hearings. These high expectations also reflect our
own commitment to environmental and social excellence. Our vision has always been to seamlessly integrate our project into
the community. We will work with the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la
Faune et des Parcs (MELCCFP) to complete the environmental analysis in order to obtain the decree.”
Luc Lessard, President and Chief Executive Officer added: “In light of the BAPE report, we will continue our efforts to improve
the Horne 5 project so that it meets the public's expectations. We are convinced of the lasting and significant benefits for the
entire region. We will take the time to analyze the report in detail with our experts, but we are pleased to have passed one of
the last stages of the environmental assessment process. BAPE's contribution is just one of the elements intended to inform
the recommendation that the Minister of the MELCCFP will make to the Council of Ministers. ”
Falco is confident that, with appropriate adjustments and ongoing collaboration with stakeholders over the next few years,
solutions can be found that will ultimately enable the Project to be completed while meeting environmental and social
expectations.
About Falco Resources
Falco is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the
Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining
Camp, which represents 67% of the camp as a whole and includes 13 former gold and base metal mining sites. Falco's main
asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and
produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest
shareholder, with a 16% interest in the Company.
For more information, please contact:
Hélène Cartier
Vice-President, Environment, Sustainable Development and Community Relations
514-216-8611
Luc Lessard
President and Chief Executive Officer, Falco Resources
514 261-3336
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, "forward-looking
statements") within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts,
may be forward-looking statements. Often, but not always, forward-looking statements can be identified by words such as
"plans", "expects", "seeks", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends",
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actions, events or results that may, could, would, might or will occur or be taken or achieved. Without limiting the generality of
the foregoing statements, the Corporation obtaining all required governmental and regulatory approvals, are forward-looking
statements. Forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual plans, results, performance or achievements of Falco to differ materially from any future plans, results, performance
or achievements expressed or implied by the forward-looking statements. These risk and uncertainties include, but are not
limited to, the risk factors set out in Falco's annual and/or quarterly management discussion and analysis and in other of its
public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing.
Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable,
undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable
law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.