Falco Receives Additional Comments and Questions From the Ministry of the Environment on the Horne 5 Project

Falco Receives Additional Comments and Questions From the Ministry of the Environment on the Horne 5 Project

 

Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Company ") announces today that it has received a letter 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 ") regarding the Horne 5 Project (the " Project ").

 

This letter includes observations regarding the application of section 197 of the Clean Air Regulations (" CAR "), and identifies certain issues related to the Project further to the analysis of the environmental acceptability of the Project. A comprehensive list of comments, questions and requests for additional technical studies is also attached to the letter.

 

  Air Quality in Rouyn-Noranda  

 

The letter sets forth the Ministry's position regarding its interpretation of section 197 of the CAR to the effect that the atmospheric dispersion modeling filed by Falco does not conform to section 197 of the CAR. The Ministry considers that according to this modeling, the Project would increase the contaminant concentration in the air of Rouyn-Noranda.

 

As previously disclosed by Falco, section 197 of the CAR stipulates that a project cannot be authorized if it is likely to add contaminants to the air, the concentration of which is already higher than the standards in force.

 

Currently, arsenic and other metals are present in the ambient air of Rouyn-Noranda at concentrations presumably higher than the standards in force. As previously disclosed by Falco, increased public and government attention to air quality in Rouyn-Noranda have already delayed and impacted the environmental authorization process for the Project.

 

The results of the modeling of the projected atmospheric emissions of the Project, carried out by a firm of seasoned experts and in accordance with the Ministry guidelines, demonstrated a maximum contribution more than 2,000 times lower than the standard for arsenic and similar results for other metals. Falco is of the opinion that the result of this modeling for excess metals is zero when this result is rounded to a number with the same precision as the limit value provided for in Appendix K of the CAR. Thus, the maximum contribution for arsenic (standard of 0.003 μg/m3) modeled at 0.00000127 μg/m3 should be expressed as 0.000 μg/m3 and should be considered as resulting in no increase in the concentration in the atmosphere. The contribution of the Project to atmospheric emissions would therefore be compliant with section 197 of the CAR.

 

The position taken by the Ministry requires that Falco performs an atmospheric dispersion model demonstrating a contribution of nil (0.000∞) for metals already in exceedance in the ambient air in order to conclude that the Project is compliant, which is scientifically impossible. The Ministry will not recognize the fact that the Project results in a negative mass balance.

 

The Ministry maintains its strict interpretation despite the submissions and arguments presented again recently by Falco. This strict interpretation therefore means that no industrial or other project emitting contaminants already in exceedance in the ambient air could be developed in Rouyn-Noranda in compliance with section 197 of the CAR. This reasoning would also apply to the development of any project in other regions of Québec where contaminants in the ambient air are already in exceedance.

 

The BAPE report published on January 7, 2025, concludes that the strict interpretation of section 197 of the CAR promoted by the Ministry makes it difficult to envisage the Project's compliance with this regulation, and recommended that the Ministry initiate a reflection with respect to a more complete and adapted integration of environmental impacts and the consideration of the mass balance of emissions.

 

All in all, Falco has invested over $150 million in the Project since its inception, including for technical studies and other expenses, the school expansion and multipurpose athletic fields and other diverse initiatives relating to the social acceptability of the Project.

 

Project highlights include:

 
  • State-of-the-art mining operations
  •  
  • Use and rehabilitation of already disturbed sites (Quemont and Norbec)
  •  
  • Economic benefits and job creation (900 construction jobs and 500 operations jobs)
  •  
  • Recovery of critical and strategic minerals and contribution to the energy transition and decarbonization of the economy
  •  

  Issues  

 

As previously communicated, Falco welcomed with interest the BAPE report in which the commission of inquiry submits to the attention of the relevant decision-making bodies various elements that require commitments, actions or modifications, which are necessary for the issuance of government authorizations. Falco summarized its main findings in a summary of the highlights available on its website.

 

In its latest correspondence, the Ministry reminded Falco that in addition to compliance with section 197 of the CAR, the Project involves other major issues that could compromise its environmental acceptability, including the preservation of surface and groundwater quality, the impact of the choice of location of the mine tailings management facilities, the potential impacts of the drawdown of the water table on soil subsidence and the possible impact of the project on the radiation oncology centre located near the mining complex. The correspondence adds that, in this context, the Ministry asks Falco to indicate its intentions regarding the continuation of the environmental impact assessment and review process of the Project.

 

  List of Additional Comments and Questions  

 

The correspondence received by Falco also includes several additional questions and comments from the Ministry, requiring numerous supplemental technical studies despite the fact that some of these questions relate to new elements which had not been previously raised to Falco in the past six years, and that the acceptability of the environmental impact study had been confirmed. The correspondence reveals an approach where the Ministry continues to increase its demands through the process by requiring technical and other documents and studies that have either already been provided, are not reasonably necessary to conclude on the issues analyzed at this stage of the Project or which completion would generate very significant costs and delays for Falco without certainty of results.

 

  Management Reactions and Next Steps  

 

Luc Lessard, President and Chief Executive Officer of Falco, commented: "Falco presented to the Québec governmental authorities a promising mining development project for the city of Rouyn-Noranda, the Abitibi-Témiscamingue region and Québec. Falco completed technical and environmental studies on all the subjects required by the Ministry prior to the BAPE process, including air quality and groundwater management, in collaboration with seasoned experts in the various sectors concerned. The Project was structured in a way to preserve the quality of life of the citizens of Rouyn-Noranda and ensure that the contribution of the Project to the ambient air does not pose a risk to their health. The population of Rouyn-Noranda significantly supports the Project, as demonstrated by the numerous briefs and testimonies submitted to the BAPE.

 

In the current context of increasing protectionism in the United States, the Government of Québec must respond by reducing administrative obstacles to regional and provincial economic development and job creation. Falco is disappointed by the limited collaboration from the Ministry and the government to develop this collective wealth. Far from being constructive, this approach creates an unpredictable business climate and imposes undue delays."

 

Falco is evaluating with its advisors the alternatives available to it and will provide an update when developments warrant it or when required by applicable securities laws. 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 Ministry's numerous additional requests in a timely manner or that Falco will be able to raise the funds necessary to pursue 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 position.

 

The Company will not provide additional comments at this time and will not grant interviews.

 

  About Falco  

 

 Falco Resources is one of the largest holders of mining titles in the province of Quebec, 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 Company.

 

  For further information, please contact:  

 

Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.com

 

  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 impact of the Horne 5 Project on air quality in Rouyn-Noranda, 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, Falco's assessment of the alternatives available to it, the development of the Horne 5 Project and the granting of environmental authorizations. These statements are based on information currently available to the Company and the Company 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. 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.

 

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Falco Files Requested Documentation for the Horne 5 Project's Environmental Authorization Process

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Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Corporation ") is pleased to announce that it has responded to all questions and comments requested by the Direction de l'évaluation environnementale (" DEE ") des projets industriels et miniers on February 27, 2025 (the " Correspondence "), as more fully described in Falco's press release dated March 3, 2025.

 

The responses, commitments, and explanatory letter submitted (the " Responses ") follow the meetings and clarifications obtained from representatives of the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the " Ministry ") and other ministries, regarding the principal issues raised by the Horne 5 project (the " Project "), in the Correspondence. The Responses will allow the Ministry to complete its analysis in accordance with the standard evaluation process.

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Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Corporation ") announced today that since its March 3 rd press release (the " March 3 rd 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 ").

 

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Falco Resources Ltd. (TSX.V: FPC) (" Falco" or the " Company" ) is pleased to publish the results of an independent survey of the population of Rouyn-Noranda and Abitibi-Témiscamingue conducted by Léger regarding the understanding and social acceptability of the Falco Horne 5 underground mine project (the " Project" ).

 

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Falco Resources Ltd. (TSX.V: FPC) (" Falco" or the " Company" ) is pleased to publish the results of an independent survey of the population of Rouyn-Noranda and Abitibi-Témiscamingue conducted by Léger regarding the understanding and social acceptability of the Falco Horne 5 underground mine project (the " Project" ).

 

  Three out of four people support the Project  

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Under the engagement, NCA will be paid a fee of $5,000 per month for the services it will render starting on February 5 th , 2025, for an initial six-month term, (the " Initial Term "). The Agreement can be extended for subsequent three-month terms following the Initial Term. There are no performance factors contained in the agreement and NCA will not receive common shares or options as compensation.

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(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 18, 2025 TheNewswire - Prismo Metals Inc. (" Prismo " or the " Company ") (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news release dated July 3, 2025, the Company has upsized and closed its previously announced non-brokered private placement of units of the Company (" Units ") at an issue price of $0.05 per Unit  (the "Private Placement" ). Due to strong investor demand, the Private Placement was increased from 5,000,000 Units to the issuance of 11,500,000 Units for gross proceeds of $575,000.

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Finlay Minerals Ltd . (TSXV: FYL,OTC:FYMNF) (OTCQB: FYMNF), the "Company", is pleased to announce that the approved budget under the Earn-In Agreements with Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport") 1 for both the PIL and ATTY Projects, has been increased to a total of $3.6 million .

 
 

  Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.) 

 

Both projects are situated in the highly prospective Toodoggone District of British Columbia , which continues to develop as an important copper-gold (Cu-Au) district with significant potential for further discoveries.

 

Initially, the 2025 budget was set at a minimum of $750,000 for the PIL property and $500,000 for the ATTY property. However, these amounts have now been revised to up to $2.6 million for the PIL project and up to $1.0 million for the ATTY project. Both programs are fully funded under the Earn-In Agreements with Freeport . According to these agreements, Freeport may earn an 80% interest in each property by investing a total of $35 million in exploration expenditures and making cash payments totaling $4.1 million over/up to six years.   2 Until the Finlay-Freeport Earn-In Agreements complete, Finlay owns 100% of both properties.

 

The PIL   Property lies in the heart of the Toodoggone region and features several porphyry copper-gold (Cu-Au) targets, along with associated epithermal gold-silver (Au-Ag) mineralization.  To date, 18 porphyry Cu ± Mo ± Au and porphyry-related low- and high-sulphidation epithermal Au-Ag occurrences have been outlined on the PIL Property. The PIL property is adjacent to Amarc Resources and Freeport-McMoRan's JOY Project, as well as TDG Gold Corp.'s Shasta/Baker and Sofia Properties. It is also situated 25 kilometres ("km") northwest of Centerra Gold's former Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

 

The ATTY Property covers 3,875 hectares of sub-alpine terrain in the southern Toodoggone region, an area known for significant porphyry copper-gold (Cu-Au) and epithermal gold-silver (Au-Ag) deposits. It is located between Centerra Gold's Kemess Project and the JOY Project, held by Amarc Resources and Freeport-McMoRan. The KEM target on the ATTY Property resembles the Kemess North Trend, which is home to the Kemess Underground and Kemess East deposits. Exploration will focus on the Wrich target, located near the copper geochemical anomaly at the SWT target on the JOY Property. This anomaly extends over 2 km and continues onto the ATTY Property for an additional 1.2 km to the southeast.

 

  The 2025 programs at the PIL and ATTY are well underway with:  

 
  • Detailed property-wide, 100 metre line-spaced airborne magnetic surveys completed on both properties;

  •  
  • Detailed geological and alteration mapping and expanded rock and soil sampling on up to 8 target areas on the PIL underway, with the ATTY expected to start by the end of July;

  •  
  • 53 line-km of induced polarization ("IP") geophysical surveys planned on the PIL and 16 line-km on the ATTY, and

  •  
  • Finlay acting as the Operator on both properties.
  •  

Finlay's President and CEO, Ilona Lindsay , states :  

 

  "We are very pleased with the substantial increase in approved funding for both the PIL and the ATTY. This additional funding will allow us to identify and prioritize as many targets as possible for drilling in 2026."  

 

  References:  

 
  1. Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.

  2.  
  3. Finlay news releases NR 03-25 dated April 17, 2025 entitled: "  Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties " and NR 05-25 dated May 2, 2025 and entitled: "  Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement. "
  4.  

  Qualified Person:  

 

  Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

 

  About finlay minerals ltd.  

 

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five properties in northern British Columbia :

 

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com   .  

 

  On behalf of the Board of Directors,  

 

  Robert F. Brown ,
Executive Chairman of the Board

 

  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.  

 

   Forward-Looking Information:    This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the PIL & ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.  

 

SOURCE finlay minerals ltd. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/17/c1585.html  

 
 

 

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(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia TheNewswire - July 17, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its July 3, 2025, news release the Company is pleased to announce that it has received approval from the TSX Venture Exchange to close its private placement financing (the "Financing") for aggregate gross proceeds of $1,000,000.

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