Falcon Gold Expands Ground In Great Burnt Copper District, Central Newfoundland

Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce it has acquired through staking, 91 claims (the "Property") totaling 2,275 hectares located in the Great Burnt base-metal rich greenstone belt in central Newfoundland (Figure 1). The Great Burnt greenstone belt is host to the Great Burnt Copper Zone with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu. (https:www.spruceridgeresources.comgreat-burnt.php) Recent drilling in 2020 by Spruce Ridge Resources reported 8.06% Cu over 27.2m (TSXV: SHL press release dated March 18, 2021). The Great Burnt greenstone belt also hosts the South Pond A and B copper-gold zones and the End Zone copper prospect within a 14 km mineralized corridor

Figure 1. Regional location of Falcon's Great Burnt copper property

The Property

The Property is hosted within the Great Burnt greenstone belt (GBGB) which hosts Besshi-type massive sulphide deposits. These types of deposits generally occur in thick sequences of marine sedimentary rocks ranging from black shale to arkose to greywacke. Sulphide lenses can be several meters thick and extend for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant and can contain precious metals such as gold and often contain cobalt. The Property is also located 4km west of the Crest Resources-Exploits Discovery joint venture project within the Exploits Subzone. The Exploits Subzone contains deep seated gold-bearing structures of the Dog Bay-Appleton Fault- GRUB Line deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.

Figure 2. Location of the Falcon Gold acquisition proximal to Spruce Ridge Resources.

Figure 3. Great Burnt Bend Project Area with FG Claims in Orange and Spruce Ridge / Benton JV in Blue. New Claims Cover Conductive Trend Hosting Copper and Gold Mineralization

Commentary

Mr. Karim Rayani, Chief Executive Officer, commented, "We are extremely pleased to have been able to expand our footprint in the Great Burnt Copper District. This Property not only has the potential to host important Exploits Subzone orogenic gold mineralization but also copper-rich massive sulphides that contain gold. These new claims lie along the same conductive trend which hosts significant gold and copper mineralization held by the Spruce Ridge / Benton Resources JV yet have never been drill tested or subjected to any systematic exploration programs. Our desktop studies have shown this is a drill-ready project - exploration and drill plans are now in the permitting stage. We look forward to announcing our exploration and drilling plans in the coming months."

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 Great Burnt property claim group 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 multiple 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; in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland; and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde Property.

CONTACT INFORMATION:

Falcon Gold Corp.

"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca

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.

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Marvel JV Partner Receives Assays at Golden Brook "Kraken" Project, Identifies Multiple Rare and Critical Element Anomalies

Marvel Discovery Corp. (TSX.V:MARV)(GR:O4T)(OTCQB:MARVF); and Falcon Gold Corp. (TSX.V:FG)(GR:3FA)(OTCQB:FGLDF) together (the Alliance) are pleased to announce the companies have received assay results from the late spring, early summer 2023 exploration program conducted over the Kraken project located in Southern Newfoundland. The project covers the central portion of the Golden Brook Property and is located approximately 150 kilometers south of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including

Gold-Silver-Copper-Lead-Arsenic anomaly
Multiple Tungsten and Molybdenite anomalies
Multiple Critical and Rare Element anomalies including Beryllium, Cerium, Lanthanum, Lithium, Niobium, Tantalum, Vanadium and Zirconium

Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Kraken-area project, as part of the company's Q2 2023 Reconnaissance Program. The primary objective of the Kraken exploration program was to investigate the gold and lithium potential of the property through initial prospecting over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Marvel JV Partner, Falcon Gold. The comprehensive review identified multiple areas deemed prospective in the central part of the Golden Brook Property. A total of 178 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis, and 4 Element ICP-OES analysis that includes Li, Nb, Sn and Ta. Sample collection included float, chip and grab samples from locations deemed of interest by the in-field personnel. Preliminary results from the Kraken project have identified anomalous results for multiple critical and rare earth metals, and the highlights from this sampling include the following:

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Falcon Gold Corp. (FG:TSX-V), (3FA:GR), (FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce the company has received assay results from the late spring, early summer 2023 exploration program conducted over the Kraken project located in Southern Newfoundland. The project covers the central portion of the Golden Brook Property and is located approximately 150 kilometers south of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including

Gold-Silver-Copper-Lead-Arsenic anomaly
Multiple Tungsten and Molybdenite anomalies
Multiple Critical and Rare Element anomalies including Beryllium, Cerium, Lanthanum, Lithium, Niobium, Tantalum, Vanadium and Zirconium

Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Kraken-area project, as part of the company's Q2 2023 Reconnaissance Program. The primary objective of the Kraken exploration program was to investigate the gold and lithium potential of the property through initial prospecting over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Falcon. The comprehensive review identified multiple areas deemed prospective in the central part of the Golden Brook Property. A total of 178 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis, and 4 Element ICP-OES analysis that includes Li, Nb, Sn and Ta. Sample collection included float, chip and grab samples from locations deemed of interest by the in-field personnel. Preliminary results from the Kraken project have identified anomalous results for multiple critical and rare earth metals, and the highlights from this sampling include the following:

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Falcon Gold Corp. (FG:TSX-V), (3FA:GR), (FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce the company has received assay results from the late spring, early summer 2023 exploration program conducted over the Moose Mountain project located in Southern Newfoundland. The project covers the eastern portion of the Golden Brook Property, and is located approximately 140 kilometers south of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including

Copper-anomaly
Anomalous Gold-Arsenic
Multiple Tungsten and Molybdenite anomalies
Multiple Critical and Rare Element anomalies including Antimony, Beryllium, Cerium, Lanthanum, Lithium, Niobium, Tantalum, Vanadium and Zirconium

Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Moose Mountain project, as part of the company's Q2 2023 Reconnaissance Program. The primary objective of the Moose Mountain program was to investigate the lithium potential of the property through initial prospecting over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Falcon. The comprehensive review identified multiple areas deemed prospective in the eastern part of the Golden Brook Property. A total of 149 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis, and 4 Element ICP-OES analysis that includes Li, Nb, Sn and Ta. Sample collection included float, chip and grab samples from locations deemed of interest by the in-field personnel. Preliminary results from the Moose Mountain project have identified anomalous results for multiple critical and rare earth metals, and the highlights from this sampling include the following:

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Proceeds from the Unit financing shall be used by the Company as follows: Ontario Gold and Copper Properties Surface Exploration and Diamond Drilling – $282,425; Argentine gold/copper property exploration and concessions payment – $50,325; rent – $14,400; office overhead – $7,500; administration – $24,000; legal, audit and accounting – $22,500; Ontario properties fees and payments – $38,000; First Nations consultations – $7,000; Offering expenses and investor communications – $12,000; regulatory filing fees- $8,850.

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Falcon Closes $389,500 Private Placement

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Proceeds from the financing were detailed previously and include, surface exploration and drilling on its Central Canada (Atikokan, Ontario) gold and copper projects as well as administrative and working capital expenditures.

Falcon Gold Expands Ground In Great Burnt Copper District, Central Newfoundland

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