Falco Intersects 10.0 Metres At 10.0 g/t AuEq at Quemont and Provides Regional Exploration Update

- October 31st, 2016

MONTREAL, QC–(Marketwired – October 31, 2016) – Falco Resources Ltd. (TSXV:FPC) is pleased to report three additional drill results from its 2016 exploration program at its 100% owned Horne 5 project located in Rouyn-Noranda, Québec.

MONTREAL, QC–(Marketwired – October 31, 2016) – Falco Resources Ltd. (TSXV:FPC) is pleased to report three additional drill results from its 2016 exploration program at its 100% owned Horne 5 project located in Rouyn-Noranda, Québec. Additionally, the Company is pleased to report results from its 2016 regional exploration and prospection program.

Luc Lessard, President and CEO, comments: “We are delighted with the initial result from the Quemont Extension Target, today’s result demonstrates the potential to find additional mineralization near the Quemont shaft.”

QUEMONT EXPLORATION DRILLING

The Quemont program targets the western plunge of the historical Quemont deposit, where over 3.2 million ounces of gold was produced from 1949 et 1971 (15.4 million tonnes at 6.5 g/t Au, 2.4% Zn, 1.3% Cu and 30.8 g/t Ag).

Hole H5-16-7D: The hole targeting the H5 mineralized zone, intersected the Quemont corridor at about 1,000 metres below surface. The mineralized zone was encountered in the western plunge of the Quemont shaft. A moderate Cl-Si rhyodacite containing 2% PyCp was noted. A mineralized zone was encountered between 1,171 metres and 1,181 metres and returned 10.02g/t of gold equivalent grade, including 9.31 g/t gold over 10 metres. Following the intersection, the hole was further deepened in order to intersect the Horne 5 mineralisation package. The interval which intersected the Horne 5 deposit will be used for additional metallurgical testing and assay results are pending. Details of Hole H5-16-7D are outlined in the table below.

Holes H5-16-20A & 21 are in progress. Hole H5-16-22 was completed and logged, assay results are pending.
HORNE 5 WEST EXPLORATION DRILLING
Two additional holes were completed on the Horne 5 Western Extension (“H5W”). The drilling program was initiated to test potential mineralization located west of the currently defined Horne 5 deposit. Hole H5-16-09-D and Hole H5-16-19 confirm a possible displacement of the mineralization to the south.
H5-16-09D: The mineralized zone, expected at about 1,250 metres, was not encountered but structures, sub-parallel to the hole (NE-SW), were noted. Originally planned for 1,300 metres, the hole was continued hoping to intersect the zone deeper and also test the Horne felsic package. The mineralization was encountered at 1,647 metres. The mineralization appears to have been displaced approximately 200 metres south.

H5-16-19: This hole targeted the upper part of H5W. The hole ended at 1,416 metres. The mineralization, corresponding to the H5W extension, was expected around 980m but no significant zone was observed. However, a massive rhyolite containing 5-15% disseminated Py and stringers was noted from 1,307 to 1,340 metres. A displacement of the mineralization to the south is expected, as observed in Hole H5-16-09D.

Holes 17C, 09E, 09F have been completed and logged. Assay results for holes are pending.

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