Horne 5 Project Update
For Immediate Release TSX.V - FPC
HORNE 5 PROJECT UPDATE
MONTRÉAL, March 26, 2025 - Falco Resources Ltd. (TSX.V: FPC) ( “Falco” or
the “Corporation”) announced today that since its March 3rd press release (the “March 3rd Press
Release”), the Corporation has received complementary correspondence (the “Complementary
Correspondence”) from the Direction de l’évaluation environnementale des projets industriels et
minières, at the Ministère de l ’Environnement, de la Lutte contre les changements climatiques,
de la Faune et des Parcs (the “Ministry”), which aims to clarify the Ministry’s position regarding
the ongoing process regarding the Horne 5 Project (the “Project”).
The Complementary Correspondence confirms, among other things, that the list of comments
and questions previously received and discussed in the March 3rd Press Release (the “Additional
Questions”) is part of the standard process and that at this stage of the process, as with any
other project, no conclusions can be drawn, whether regarding the acceptability or otherwise of
the Project or the recommendation that may subsequently be made to the Minister.
The Ministry’s position regarding its interpretation of section 197 of the Clean A ir Regulations
(“CAR”) was not reiterated in the Complementary Correspondence. The Complementary
Correspondence specifies that “only the responses that the Corporation is invited to provide to
the Ministry will a llow the analysis to continue in accordance with the usual process. ” The
Corporation understands that the Ministry's position regarding its interpretation of section 197 of
the CAR remains under review. The Corporation submitted responses to the additional questions,
along with an explanatory letter to the Ministry on March 21, 2025.
Luc Lessard, President and CEO of Falco, commented: “ Falco continues its discussions with
representatives of the Ministry with the aim of obtaining the necessary authorizations to continue
the Project.”
Furthermore, the results of the recently conducted independent survey show that the Corporation
enjoys strong majority support in Rouyn-Noranda, where 72% of respondents are in favor of the
Horne 5 Project, as well as in Abitibi-Témiscamingue, where support reaches 74%. These results
demonstrate significant public support for the Project. For more information about the survey, refer
to the Corporation's press release dated March 18, 2025, by clicking on the following link.
https://bit.ly/4hQlLNM
The Corporation reiterates that there is no certainty or guarantee that Falco will be able to raise
the necessary funds to pursue the Project or that the Project will obtain the required government
authorizations.
About Falco
Falco Resources is one of the largest holders of mining titles in the province of Qué bec, with a
large portfolio of properties in the Abitibi greenstone belt. Falco holds rights to approximately
67,000 hectares of land in the Noranda Mining Camp, representing 67% of the entire camp and
including 13 former gold and base metals mining sites. Falco’s principal 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 16.0% interest in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514 261-3336
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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward- looking statements and forward- looking information
(collectively, “forward-looking statements”) within the meaning of applicable securities laws.
These statements include references to the social acceptability of the Project , the Ministry ’s
interpretation of section 197 of the CAR, the issues identified in the course of the BAPE process
and noted by the Ministry , the development of the Horne 5 Project and the granting of
environmental authorizations. These statements are based on informatio n currently available to
the Corporation and the Corporation provides no assurance that actual results will meet
management's expectations. The occurrence of such events or the realization of such statements
is subject to a number of risk factors, including, without limitation, the risk factors identified in
Falco’s annual management ’s discussion and analysis and in other continuous disclosure
documents available at www.sedarplus.com .
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. As mentioned by Falco in its public disclosure and in
its previous press releases, certain major issues have been raised by the Ministry in the context
of the development of the project and in the BAPE process, including the compliance of the Project
with section 197 of the CAR. There is no certainty or guarantee that the Ministry will change its
position regarding the application of section 197 of the CAR to the Project, that Falco will be able
to respond to the numerous additional requests from the Ministry in a timely manner or that Falco
will be able to raise the necessary funds to continue the additional studies requested by the
Ministry, which could significantly delay or prevent the granting of the required authorizations and
therefore have an adverse impact on the development of the Project and on Falco's financial
situation. 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.