Falco Sets the Stage FOR a Pivotal 2026 as the Horne 5 Project Advances Toward Government Decree
For Immediate Release TSX.V - FPC
FALCO SETS THE STAGE FOR A PIVOTAL 2026 AS THE HORNE 5 PROJECT
ADVANCES TOWARD GOVERNMENT DECREE
MONTRÉAL, QUÉBEC - January 21, 2026 – Falco Resources Ltd. (TSX.V: FPC) (“Falco”
or the “Corporation”) is pleased to provide shareholders with an outlook for 2026 as the
Corporation advances its flagship Horne 5 Project located in Rouyn- Noranda, Québec
(the “Horne 5 Project” or “Project”) through the final stages of project environmental acceptability
and towards the receipt of the Québec ministerial decree.
“The Horne 5 Project is one of the most advanced undeveloped polymetallic projects in Canada,
and our focus in 2026 is execution,” said Luc Lessard, President and Chief Executive Officer of
Falco. “With permitting advancing and a feasibility study update underway, we are working to
position the Project for its next stage while ensuring the market fully understands its scale, quality,
and value.”
The Horne 5 Project is a large, gold -led underground polymetallic deposit located in Qué bec’s
historic Noranda mining camp. In addition to strong community support, the Project benefits from
advanced project acceptability and permitting progression, existing regional infrastructure, and a
development plan outlining a long-life, low-cost operation supported by meaningful critical mineral
(copper and zinc) contributions. The Environmental Impact Assessment has been deemed
admissible, public hearings have been completed, and the Project continues to progress towards
the Québec ministerial decree.
As part of its 2026 plan, Falco is updating its 2021 Feasibility Study to reflect current metal prices,
updated cost assumptions, and refined development planning. This updated study is expected to
support strategic engagement and future financing discussions as the Project moves closer to
execution readiness.
“Our fundamentals are strong, and 2026 is about aligning execution with clear, consistent
communication,” continued Mr. Lessard. “ We believe this approach will help close the valuation
gap and position Falco as a leading, construction- ready polymetallic development story in
Canada.”
2026 priorities include:
• Advancing the Horne 5 Project toward receipt of the Québec ministerial decree
• Completing the feasibility study update
• Continuing disciplined technical and permitting work
• Expanding institutional and analyst engagement
• Advancing community consultation initiatives
• Maintaining transparent communication with shareholders
Qualified Person
Mr. Luc Lessard, P.Eng., President & CEO, is the qualified person for this release as defined by
National Instrument 43-101 and has reviewed and verified the technical information contained in
this news release.
Stock Option Grant
In parallel, Falco has engaged Achievers' Unlimited Inc. ( “Achievers”) to provide certain
management services to Falco, including corporate development , marketing and strategic
advisory services. As part of this engagement, the Corporation’s Board of Directors approved the
grant of incentive stock options (the “ Options”) to Achievers to purchase up to an aggregate of
400,000 common shares of the Corporation (“ Common Shares”). The Options are subject to a
twelve-month vesting period and have a five -year term. The Options are exercisable at an
exercise price of $0.495 per Common Share being the closing price of the Common Shares on
the TSX Venture Exchange on January 20, 2026.
About Falco
Falco Resources Ltd. is a Canadian mining company advancing the Horne 5 Project in Québec’s
historic Noranda mining camp. This project is one of the most advanced undeveloped polymetallic
assets in Canada, supported by established infrastructure, robust economics, and a proven
technical and executive team.
For further information, please contact:
Anthony Glavac
Chief Financial Officer
Neither the 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 press 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, and including statements relating to
the expected timing for the update of the 2021 Feasibility Study and the receipt of the ministerial
decree for the Project and future milestones, may be forward -looking statements. Generally,
forward-looking statements can be identified by the use of terminology such as “plans”, “expects”,
“estimates”, “intends”, “anticipates”, “believes” or variations of suc h words, or statements that
certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be
achieved”, the negative of these terms and similar terminology although not all forward- looking
statements contain these terms and phrases. Forward- looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward-
looking statements. These risks and uncertainties include, but are not limited to, the risk that the
conditions precedent to the ability to conduct dewatering or mining activities under the operating
license and indemnity agreement (the “OLIA”) between Falco and Glencore Canada Corporation
(“Glencore”) may not be satisfied; the risk that Falco may not obtain the required financial
assurances to be provided to Glencore, or the financing required to develop or operate the Horne
5 Project; the risk that the required permits and authorizations required fr om governmental
authorities to develop and operate the Horne 5 Project may not be obtained on the terms
contemplated or at all; the risk that the OLIA may be terminated in accordance with its terms in
the event of default or certain other triggers relating to delays in the commencement of dewatering
or mining activities; the risk that, once commenced, certain operations of the Horne 5 Project may
have to be suspended, altered or modified pursuant to the conditions of the OLIA; the risk that
Glencore may require modifications to Falco’s operations at the Horne 5 Project pursuant to the
OLIA which would render the operations less profitable or not profitable (compared to
expectations included in the 2021 Feasibility Study and any updated versions thereof for the
Horne 5 Project); the risk that Falco may incur significant losses and other obligations under its
indemnities in favour of Glencore contemplated in the OLIA; and 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 press release, and no assurance can be given
that such events will occur in the disclosed time frames or at all. Except as required by applicable
law, Falco disclaims any intention or obligation to update or revise any forward- looking
statements, whether as a result of new information, future events or otherwise.