The Conversation (0)
Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Corporation ") is pleased to announce the appointment of Mr. Sean Roosen and Mr. John Burzynski as Special Advisors to Falco's Management and Board of Directors (the " Board ") in respect of marketing, financing and project development strategies. Since 2014, both have been closely involved with Falco's flagship Horne 5 Project, located in Rouyn-Noranda, Québec (the " Horne 5 Project " or the " Project ") through their various roles within the Osisko group of companies. They also bring a long-standing working relationship of more than a decade with Mr. Luc Lessard, President and CEO of Falco. Under their leadership, the Osisko group of companies successfully raised over $5.0 billion in capital to advance mining assets across the development spectrum.
The Horne 5 Project is a world class deposit with an estimated annual production of approximately 220,000 oz Au (330,000 AuEq) over a 15-year life of mine, based on a feasibility study, effective March 18, 2021 (the " 2021 FS "). The Project also has meaningful critical and strategic minerals exposure: Falco will be one of the largest producers of copper (247M lbs) and zinc (1,190M lbs) in the Province of Québec, over the life of mine. In addition, Falco has significant high potential exploration upside with rights to +67,000 hectares of land around the Project.
Special Advisors
Mr. Sean Roosen and Mr. John Burzynski, are both founding members of Osisko Mining Corporation (" Osisko MC "), together with Mr. Robert Wares, where they spearheaded the discovery, financing, development, and operation of the Canadian Malartic mine, which achieved commercial production in May 2011. In 2014, Osisko MC was acquired by an Agnico Eagle Mines Limited and Yamana Gold Inc. partnership for $4.3 billion, reaching annual gold production of over 500,000 oz Au at the time. A concurrent spin-out transaction also resulted in the creation of Osisko Gold Royalties (today more than a $9 billion company). Canadian Malartic remains one of Canada's largest gold producing mines and among the top globally, averaging over 640,000 oz Au of annual production over the 2022-2024 period.
Mr. Sean Roosen currently serves as Executive Chair and CEO of Osisko Development Corp. (" ODV "). He is also the founder, former Executive Chair and CEO of Osisko Gold Royalties from its inception in 2014 until 2023. Mr. Roosen has over 44 years of experience in the mining industry, and served as President, CEO and Director of Osisko MC, where he was responsible for developing the strategic plan for the discovery, financing and development of the Canadian Malartic mine. He also led the efforts for the maximization of shareholders' value in the sale of Osisko MC. He was recognized as Mines and Money Americas "best CEO in North America" (2017) and one of the "Top 20 Most Influential Individuals in Global Mining". In prior years, he has been recognized by several organizations for his entrepreneurial successes, contributions to the mining industry and his leadership in innovative sustainability practices. Mr. Roosen is a graduate of the Haileybury School of Mines.
Mr. Burzynski is currently Executive Chair at Osisko Metals Incorporated and most recently served as the Chair, CEO and director of Osisko Mining Inc., where he led his team in the discovery, development, and sale of the Windfall Gold project to Gold Fields Ltd. for $2.2 billion. Mr. Burzynski has over 35 years' experience as a professional geologist on international mining and development projects. John was one of the three original founders of Osisko MC who developed and ultimately sold the Canadian Malartic mine. Among a number of other awards, Mr. Burzynski was co-winner together with partners Sean Roosen and Robert Wares of the Prospectors and Developers Association of Canada (" PDAC ")'s "Prospector of the Year Award" for 2007 and the Northern Miner's "Mining Man of the Year" for 2009; and was again named the "Prospector of the Year Award" for 2024 for the Windfall deposit. John holds a Bachelor of Science (Honours) degree in geology from Mount Allison University, and a Master of Science in exploration and mineral economics (MINEX) degree from Queen's University.
Luc Lessard, President and CEO of Falco commented: " We are excited to welcome Sean and John as Special Advisors to Falco's Management and Board of Directors. They have deep understanding of the Horne 5 Project and bring a wealth of industry knowledge, marketing and financial expertise and strategic insight across the gold mining sector."
Qualified Person
Mr. Luc Lessard, President & CEO, (P. Eng.) is the qualified person for this release as defined by National Instrument 43-101 and has reviewed and verified the technical information contained in this news release.
About Falco Resources
Falco is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the camp as a whole and includes 13 former gold and base metal mining sites. Falco's main 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. ODV is Falco's largest shareholder, with a 16% interest in the Corporation.
For more information, please contact:
Luc Lessard
President and Chief Executive Officer, Falco Resources Ltd.
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 Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, "forward looking statements") within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by words such as "plans", "expects", "seeks", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. These statements are made as of the date of this news release. Forward-looking statements in this press release include, without limitation, statements regarding the projections and assumptions of the 2021 FS, including, without limitation: estimated annual production, NPV, AISC, resources and reserves, mine life and potential production from the Horne 5 Property as envisioned by the mine plan; economic assumptions and sensitivities and other operational and economic projections with respect to the Horne 5 Project, Falco's ability to obtain receipt of permits and approvals required to develop the Horne 5 Project and Falco's ability to efficiently develop and operate the Horne 5 Project based on the terms of the Operating License and Indemnity Agreement concluded with Glencore Canada Corporation. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Falco's annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although the Corporation believes the forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.
