Falcon Recieves Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / March 4, 2024 / Falcon Gold Corp. (FG:TSX-V)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce the company has received drill permit approval to commence diamond drilling at its Great Burnt Copper Project in Central Newfoundland. The Company will be reporting back in the coming week once drill contractors have been finalized. Falcon initially plans to test up to 10 geophysical anomalies with a maximum of 1100 meters of drilling.

Falcon holds 2,275 hectares in the Great Burnt Camp, with licenses located north of, and contiguous to the Benton-Spruce Ridge Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. recently optioned the Great Burnt Copper Gold Project from Spruce Ridge Resources Ltd. In an agreement that allows Benton to earn a 70% interest in the property (press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit 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.com/great-burnt.php). Recent drilling by Benton Resources Inc. over the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag and 0.05% Co over 12.30 meters (press release dated December 5, 2023). Previous 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 is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see Figure 2).

The Great Burnt Copper Property

The Property is hosted within the Great Burnt greenstone belt (GBGB) which hosts massive sulphide deposits that have been interpreted as Besshi-type. These types of deposits generally occur as laterally extensive sheets of pyrrhotite- or pyrite-rich sulphide rock within mixed volcanic-sedimentary environments. Sulphide lenses can be several meters thick and extend for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant, commonly contain other lithophile elements like cobalt or lead, and can contain precious metals such as gold and silver. 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.