Precious Metals

Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has entered into two separate arm's-length agreements, pursuant to which the company will acquire a 100-per-cent interest in two battery metals projects in the province of Ontario and Quebec, collectively known as the Timmins West and Outarde Nickel Project northwest of Baie Comeau, Quebec

The first purchase agreement covers 5 mining claims totaling 1,940 hectares within the Kamiskotia Gabbroic Complex (KGC) located 20 km northwest of Timmins, Ontario (Figure 1). The KGC is a gabbroic to anorthositic intrusive mafic to ultra-mafic body that has documented nickel-copper-cobalt (Ni-Cu-Co) mineralization. An outcrop grab sample in 2004 reported 0.44% Ni, 0.64% Cu and 0.033% Co hosted by 10% pyrrhotite. The Property lies 40 km southwest of the Crawford Ni-Co Project being developed by Canada Nickel (TSXV:CNC).

Falcon Gold Corp, Wednesday, June 22, 2022, Press release picture
Figure 1. Regional location of the Timmins West Property.

The KGC property shares many similarities to other well-known complexes such as the Bushveld Complex (South Africa), the Stillwater Complex (USA) and Bell River Dore Lake Complexes (Quebec) (Barrie, 2000). The Timmins West Ni-Cu-Co property has historically been explored for gold. However, it's mafic to ultra-mafic composition within the KGC makes it a prime target for magmatic Ni-Cu-Co mineralization. The regional government flown magnetic signature of the KGC suggests a possible layer within the KGC that has the potential to a host a pyrrhotite-rich cumulate layer host to Ni-Cu-Co mineralization. An outcrop grab sample in (AFRI 42A12SE2024, sample 185247) taken in 2004 reported 0.44% Ni, 0.645% Cu, 332 ppm Co, 0.053 g/t Au and 3 g/t Ag. This sample was associated with 10% pyrrhotite in a gabbroic mafic outcrop. Eight (8) additional samples within 15 m of the 185247 also reported anomalous Ni-Cu-Co values.

The second purchase agreement comprises of 93 claims covering 5, 138 hectares located 120 km northwest of Baie-Comeau, Quebec. The Outarde Property contains nickel-copper-cobalt style mineralization and was last explored by Falconbridge in 1997. The property is located at the folded nose of a gabbro-norite suite of mafic rocks, part of the large anorthositic-gabbro pluton of the De La Blache Mafic Plutonic Suite (Figure 2). The gabbro-norite body occupies the entire length of the property (about 30 km) and has only been intermittently explored. Nickel and copper-bearing sulphides are generally located in fracture or shear zones. Highlights of the best Ni and Cu assays are 1.28% Ni and 1.38% Cu and 700 ppm Co from a grab sample. The property has not been drilled. Recommended work includes a high-resolution airborne magnetic and electromagnetic survey followed by ground truthing of detected anomalies. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

Falcon Gold Corp, Wednesday, June 22, 2022, Press release picture
Figure 2. Geology and nickel occurrences of the De La Blache Mafic Plutonic Suite, source Sigeom
Falcon Gold Corp, Wednesday, June 22, 2022, Press release picture
Figure 3. Outarde Property regional total magnetic intensity and structure with significant mineral showings highlighted, source Sigeom.

Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "Falcon continues to build value for stakeholders and is pleased to add these ‘green metal' projects to our portfolio. The success of Canada Nickel in building the nearby Crawford Ni-Co Project to a zero-carbon producer of green metal provides impetus for the Timmins West acquisition. The Outarde Nickel Project acquisition adds to our green metal portfolio in an unexplored nickel-copper-cobalt suite of lithologies. The increasing demand for green metals and current supply deficits make projects like these very attractive long term in attracting new investments."

Timmins West Transaction Ontario

Falcon Gold purchased the Property from an individual (the "Vendor") for $10,500 in cash and the issuance of 100,000 common shares of the Company. The Vendor retains a 1% NSR which can be purchased by the Company for $300,000.

Outarde Property Transaction Quebec

Falcon Gold purchased the property from an individual ("Vendor") for $12,000 in cash and the issuance of 150,000 shares. The vendor retains a 1% NSR that can be purchased by the Company for $300,000.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Timmins West, particularly regarding historical exploration, neighbouring companies, and government geological work.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 9 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.

CONTACT INFORMATION:

Falcon Gold Corp.
"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: k@r7.capital

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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.

SOURCE:Falcon Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/706185/Falcon-Expands-Project-Portfolio-into-Battery-Metals-in-Ontario-and-Quebec-Acquires-Ni-Cu-Co-Projects

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Election of Directors

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Results of the Annual General Meeting

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Freegold Ventures Limited Logo (CNW Group/Freegold Ventures Limited)

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

Nominee

# of Votes
For

% of Votes
For

# of Votes
Withheld

% of Votes
Withheld

Ron Ewing

95,557,011

99.31

663,845

0.69

Kristina Walcott

95,500,536

99.251

720,320

0.749

Alvin Jackson

95,263,691

99.005

957,165

0.995

David Knight

95,588,240

99,343

632,616

0.657

Gary Moore

82,186,891

85.415

14,033,965

14.585

Garnet Dawson

83,083,990

86.347

13,136,866

13.653

Gregory Hanks

95,588,962

99.343

631,894

0.657

Glen Dickson

81,101,224

84.287

15,119,632

15.713

Reagan Glazier

96,161,212

99.938

59,644

0.062

At the Meeting, the Company's shareholders also approved the appointment of Davidson & Company LLP, Chartered Professional Accountants as the auditors of the Company for the ensuing year.

Each of the matters voted upon at the Meeting is discussed in detail in the Circular, which is filed under the Company's profile at www.sedar.com .

About Freegold Ventures Limited

Freegold is a TSX listed company focused on exploration in Alaska and holds through leases the Golden Summit Gold Project, near Fairbanks , as well as the Shorty Creek Copper –Gold Project near Livengood. Drilling remains ongoing at Golden Summit.

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2021 filed under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors associated with Freegold's operations.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/30/c3703.html

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  • Hole represents 340 m step-out along strike of system from 2021 discovery drilling
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  • Drilling ongoing, with assay results and full drill core evaluations pending.

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Snowline Gold Corp., Thursday, June 30, 2022, Press release picture

Snowline Chair and Director Craig Hart comments that "I've seen a lot of rocks and a lot of drill core from many intrusion-related gold systems, but these Valley intersections have the most intense vein densities I've ever seen. There are overprinting vein generations and varying vein orientations which is unusual and further indicates a very robust mineralizing system. To see these vein densities over significant widths is very encouraging. The numerous observations of visible gold and bismuthinite indicate that the system is mineralized, but of course the assay results are required before we get too excited." Dr. Hart is a globally recognized expert in intrusion-related gold systems.

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