Falcon Updates 2014 Activities and Outlines Work Programs for Nevada and Washington Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 30, 2014) - Falcon Gold Corp. ("Falcon" or the "Company") (TSX VENTURE:FG) is pleased to provide an update on its recent work programs and the outlook for the work proposed to advance its two key projects in Nevada and Washington.

The New York Canyon Copper Property, Nevada

On August 20, 2014, Falcon closed an option/joint venture agreement pursuant to which the Company has the right to earn up to an 80% interest in the New York Canyon property (the "NYC Property"). Subsequent to the closing, the primary focus has been on collecting and compiling the disparate sources of data relating to the NYC Property including a large amount of historical exploration data generated by several previous operators since copper was initially discovered in 1875. The objective of Falcon's work has been two-fold:

• To verify the compliant and non-compliant historical mineral resource estimates; and,
• To design the next stages of exploration and development of the numerous targets that exist on the NYC Property.

A database is being established to incorporate the locations of the majority of the historical drill holes, some of which date back approximately 50 years. A mineralization model will be developed utilizing this database in order to follow-up a porphyry-style target that could be up to 400 million tons (363 million tonnes) in size as reported in the 2010 NI 43-101 report prepared on behalf of Canyon Copper Corp. The model presently spans the historical drilling of several identified zones within the property including, the Copper Queen, the Ideal, the Champion and the historical Cu-oxide resources of the Longshot zone. This database has also identified areas where assay or geological data is incomplete or missing. The compilation of this information has enabled Falcon's technical team to develop and implement a new exploitation strategy for the project.

Falcon's next steps will focus on completing the tasks required to upgrade and possibly expand the historical resources of the NYC Property to comply with NI43-101 standards. To this end, the Company is implementing a plan to recover and catalog all of the existing sample material currently stored underground in one of the historical mining adits within the Champion (patented claim) zone. It appears that much of the sample material including drill core, drill cuttings and assay reject material and pulps are in good condition and may be instrumental in the completion of an updated mineralization model for the property.