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Falcon-Marvel Form Strategic Partnership at Hope Brook and Baie Verte Brompton Line

Falcon Gold Corp. (TSXV:FG)(Frankfurt:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce the company has formed a strategic partnership with Marvel Discovery Corp. ("Marvel") with the goal of exploring prospective claims recently acquired in the Hope Brook and Baie Verte Brompton Districts. The combined total of both projects covers 115,175 hectares and will be explored together on 50-50 Joint Venture basis. This Alliance further empowers Falcon and Marvel to work together sharing in the potential upside of this impressive land package while reducing costs and capital. The Hope Brook Project will be renamed the Golden Brook JV ("the Property

Chief Executive Officer, Karim Rayani commented, "This alliance between Falcon and Marvel provides numerous upside potential to both companies. Synergies of shared capital, administration costs and common goals utilizing various exploration and vectoring tools won't be hampered by a property boundary line. This will enable the partnership to systematically explore this ground with a common goal of a Tier 1 discovery."

The Golden Brook JV lies at the northern western edge of the Hermitage Flexure, a predominant geological feature of the south Newfoundland Appalachians. The western Hermitage Flexure is a structurally complex region with a diverse metal breakdown. The structures on the property are linked to west verging thrust faults namely the Bay D'Est Fault Zone and the Gunlap Fault zone. These types of fault zones can be gold bearing evidenced by the most significant gold deposit in the area, the Hope Brook gold mine, which was in production from 1987 to 1997 producing 752,163 ounces of gold. The Hope Brook now owned by First Mining has since been optioned to Big Ridge Exploration which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne Au for 954,000 ounces of gold in the indicated and inferred categories (https://bigridgegold.com/projects/hope-brook-gold-project-newfoundland/).

The Golden Brook JV will also straddle both the eastern and western extents of recent land acquisitions by the Benton-Sokoman JV (joint venture) partnership. Benton-Sokoman made recent headlines with the discovery of the first lithium pegmatite discovery less 400 meters from the company's newly expanded property boundary. The highly prospective ground held by Falcon shows various lithium clusters that may extend onto the company's ground.

Other land positions within the Golden Brook JV include ground along the Baie Verte Brompton Line (BVBL). The BVBL project is strategically located in a peninsula that hosts all of Newfoundland's current gold production. Producing mines include Anaconda Mining Inc.'s Point Rousse gold mine and Rambler Metals Mining operations. Former producing mines include the Terra Nova mine and deposits of the Rambler mining camp. All of these mines are in close proximity to the BVBL. There are more than 100 gold prospects and zones, many of which are orogenic-style, related to major splays and related second-order structures linked to the BVBL. The Matador Mining Ltd. Cape Ray Project reporting 837,000 ounces of gold is also proximal to the BVBL (https://matadormining.com.au/cape-ray/resource/). The Falcon-Marvel partnership now control ground over a 70-kilometer corridor along the BVBL.

The newly formed JV also controls strategic ground 13km southwest of the Glover Island (GI) trend, an 11km mineralized corridor host to 17 base metal and polymetallic mineral prospects as well as numerous gold showings and anomalies. The GI trend also hosts the Lunch Pond South inferred resources of 120,000 ounces of gold. The GI trend and new property lies adjacent to the BVBL. The GI trend hosts numerous gold anomalies that crosscut several rock types.

The new land alliance is also proximal to the Four Corners project held by Triple Nine Resources. The Four Corners project consists of iron-titanium-vanadium-mineralized rock which has been outlined for 3,000m in strike with intercepts 200m wide and 600m vertically.

The Company has received a total of $ 540,000 in cash from the exercise of warrants since May 18th 2021. The Warrant Incentive Program announced September 16th 2021 has since expired as of October 18th 2021, no individuals participated. The Company announced and closed a private placement of $ 535,210 October 12, 2021.

Qualified Person

Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Golden Brook JV, 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 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Riojo Province, Argentina. 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, 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: 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.



View source version on accesswire.com:
https://www.accesswire.com/673373/FalconMarvel-Form-Strategic-Partnership-at-Hope-Brook-and-Baie-Verte-Brompton-Line

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Cyprium Metals Ltd Update on Funding Requirements and the Commencement of a Strategic Review

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) provides the following update in relation to its funding requirements and the commencement of a strategic review.

Secured Loan Deed

As outlined in the Company's 23 February 2023 ASX Announcement, the Company was unable to secure senior debt financing for the Nifty Copper Project Restart on commercially attractive terms and as a result, the previously announced $35 million equity raise was not completed.

As a result, Cyprium has entered into a Secured Loan Deed ("Loan Deed") with Avior Asset Management No. 2 Pty Ltd ("the Investor").

The proceeds from the Loan Deed will be used for the upcoming interest payment on the Company's existing unsecured $36 million Convertible Notes and for working capital purposes whilst the Company undertakes a strategic review on all assets in the company.

Key terms of the Loan Deed facility:

- Facility amount: $6 million

- Facility term: 6 months from first drawdown

- Interest rate: Commercial rates of financing charges, capitalised over the Facility term

- Loan conversion: A minimum of $0.8 million will be converted into CYM shares

- Share issue price: 20% discount to the Issue price of the next capital raising ("NCR")

- Loan repayment: Balance after Loan conversion is repayable following issue of shares under NCR

- Director: Investor has the right to appoint a nominee Director to the CYM Board

Management Comment

Cyprium Managing Director, Barry Cahill, commented:

"Copper market fundamentals combined with Cyprium's quality portfolio of more than 1.6Mt of contained copper at Nifty, Maroochydore and the Murchison, including significant infrastructure, as well as the xtensive Paterson Exploration JV with IGO in the highly prospective Paterson Province presents a highly attractive portfolio in an environment where battery metals are in strong demand.

The board is committed to preserving the value of the Company's assets as a priority whilst the strategic review is undertaken."

Strategic Review

Cyprium owns a high-quality portfolio of West Australian copper development opportunities with a total of +1.6Mt2 of contained copper in JORC 2012 Mineral Resources ("MRE") across its projects, comprising:

- Nifty Copper Mine (currently on care & maintenance) containing an MRE of 940,200 of contained Cu2

- Maroochydore Copper Project containing an MRE of 486,000 tonnes of contained Cu2

- Murchison Copper Project, comprising the Cue Copper-Gold Project (MRE of 51,500 tonnes of contained Cu) and Nanadie Well (MRE of 162,000 tonnes of contained Cu)

- Paterson Exploration Project (which includes a farm-in agreement with IGO Limited)

All of Cyprium's copper development projects MRE's are shallow, open in multiple directions and at depth, giving good potential to substantially increase the current resource endowment.

Nifty is a significant near-term long life brownfield copper development project located in the Tier 1 mining jurisdiction of Western Australia, with extensive infrastructure in place to re-start production.

As a result of the increased activity and interest in the battery minerals sector, the Company has commenced discussions to allow the development of a new strategic plan. The strategic plan will involve the short medium- and long-term opportunities for the company in light of the positioning of copper in the critical metals supply chain.

During this period, the Company will work with its advisors and key stakeholders to develop a new strategic plan with the objective of maximising shareholder value.

A key part of the strategic review will be for the Board to evaluate:

- potential life of mine development scenarios at Nifty, including the open-pit sulphide potential

- alternative longer-term financing strategies

- asset realisation initiatives

- composition of the board and management

Preparation of the new strategic plan and implementing a financial restructure is expected to take several months to complete. Cyprium is committed to maintaining its portfolio of copper projects in good standing to facilitate the rapid resumption of development, pending the outcomes of the strategic review.

There is no certainty that the strategic review will lead to any particulate outcome or transaction. Cyprium shareholders do not need to take any action in relation to the strategic review. Cyprium will continue to keep shareholder informed about the progress and outcome of the strategic review in accordance with Cyprium's continuous disclosure obligations.

As a result of the challenging market conditions associated with financing the Nifty Copper Project Restart project and the requirement to enter the Loan Deed for Cyprium's near-term funding requirements, the Company expects that it will require further external funding later in the year. The extent and availability of this additional funding requirement is naturally dependent on a range of commercial factors that are still being assessed and Cyprium remains in continued discussions with its brokers in connection with the additional funding requirements.

The Company's Shares will remain suspended from trading on the ASX until such time as the Directors have completed a strategic review and the Company has funding in place for a re-instatement of the Company's Shares to trading on the ASX.



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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