Falco’s Horne 5 Project: The Government of Québec confirms the project's progress within its environmental authorization process
For Immediate Release TSX.V - FPC
Falco’s Horne 5 Project: The Government of Québec confirms
the project's progress within its environmental authorization process
Highlights
• Falco has received written confirmation from the Québec government regarding the progress of the
environmental assessment for the Horne 5 Project.
• The Ministry of the Environment indicated that the environmental acceptability analysis is nearing completion.
• Information provided by Falco has helped identify solutions to many of the key environmental issues.
• The Ministry of the Environment indicated that the environmental assessment should be completed in the fall
of 2026, subject to the receipt of additional information.
• The Horne 5 Project is recognized by the government as a significant project that contributes to Qu ébec’s
objectives for critical and strategic minerals.
(Montréal, Québec, June 16, 2026) – Falco Resources Ltd. (FPC: TSX-V) (“Falco” or the “Corporation”) is pleased
to announce that it has received official confirmation from the Ministry of the Environment, the Fight Against Climate
Change, Wildlife and Parks (the “ Ministry”) that the environmental assessment process for Falco’s Horne 5 Project
(the “ Horne 5 Project ” or the “ Project”), located in Rouyn -Noranda, Québec, Canada, is progressing toward its
conclusion. The Ministry anticipates completing the environmental acceptability analysis in the fall of 2026.
As part of its ongoing discussions with the Ministry, Falco received confirmation that the government analysis is
progressing well and that the information provided to date has led to concrete solutions for many of the identified
environmental issues. Specifically, the Minist ry confirmed that the planned mitigation measures could allow mining
operations to proceed without compromising the activities of the Regional Radiation Oncology Centre. This concern
raised by the Regional Public Health Department was the subject of a thorough analysis by a committee of independent
experts.
Similarly, during a meeting, the Premier’s office stated that it was fully committed to the economic development of the
regions and wanted Québec to become a leader in the production and processing of critical and strategic minerals.
Luc Lessard, President and Chief Executive Officer, commented: “The correspondence received from the
Government of Québec represents an important step forward for the Horne 5 Project. We are encouraged by the
Ministry’s assessment that the environmental analysis is progressing well and by its confidence that the proces s can
be completed after the submission of additional information. Horne 5 is a responsible and transformative project for
Abitibi-Témiscamingue and for Québec. Our team remains fully committed to working closely with regulatory bodies
and stakeholders to advance the Project toward obtaining a government decree.”
Falco is working closely with the Ministry’s teams to produce the additional information required to finalize the
environmental analysis, particularly regarding the groundwater lowering process. Following the Environmental Impact
Assessment and Review Procedure (“EIA”), and after the Minister's recommendation, the Council of Ministers will be
responsible for authorizing the Project to proceed.
Hélène Cartier, Vice -President, Environment, Sustainable Development and Community Relations ,
summarized: “This project represents major investments, over 500 sustainable jobs, and significant socio -economic
benefits for the community. We are collaborating constructively with the Ministry and remain confident that we can
move to the next stage.”
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The Horne 5 Project involves developing a polymetallic deposit of copper, zinc, gold, and silver located deep beneath
the city of Rouyn-Noranda in the Abitibi-Témiscamingue region. It is one of the largest deposits in North America, with
a production potential of over 15 years and the creation of several hundred direct and indirect jobs.
About Falco
Falco is one of the largest mineral claim holders in the province of Québec, with an extensive portfolio of properties in
the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 60,000 hectares of land in the Noranda
Camp and includes 13 former gold and base metal mine sites. Falco’s main asset is the Horne 5 P roject 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 15.7% interest
in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer and Director
514-261-3336
Hélène Cartier
Vice-President, Environment, Sustainable Development and Community Relations
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 Note Regarding Forward-Looking Statements
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, including statements relating to the completion of the environmental assessment process and the delay for the
receipt of the ministerial decree for the Project , if such a decree is received , 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 such words, or statements that certain act ions, 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 from governmental authorities to develop and
operate the Horne 5 Project may not be obtained within expected timelines and 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 o r 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 pr ofitable (compared to expectations included in the
2021 Feasibility Study and a ny 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 quarter ly management discussion and analysis and in other of its public
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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 no t 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.