Falcon, Exploration Crews Have Been Expanded to Target Gold Zones at Hope Brook

VANCOUVER, BC / ACCESSWIRE / May 30, 2023 / Falcon Gold Corp. (TSX-V:FG), (3FA:GR), (FGLDF:OTCQB); and Marvel Discovery Corp. (MARV:TSX.V), (04T:GR), (MARVF:OTCQB) together (the Alliance) previously announced the mobilization of field crews to the "Golden Brook" (Hope Brook) Lithium prospect located in southwestern Newfoundland, Canada. The Golden Brook covers a vast area totaling 54,600 hectares, strategically located contiguous to Benton-Sokoman's Golden Hope Project covering a portion of the Kraken Pegmatite Field.

The exploration project has been expanded to include reconnaissance over the northwest portion of the Golden Brook Property, which covers over 30km along the prospective Cape Ray Fault Zone. The Cape Ray Fault Zone has historically been recognized as being fertile for gold. The property is located in proximity to several gold prospects (Wilding Lake, Cape Ray), an advanced stage gold deposit (Valentine), and a former gold mine (Hope Brook).

Work at the Kraken Pegmatite field continues with a focus on determining the potential for lithium-bearing pegmatites. Falcon has expanded the project to include areas of the property overlying the fault zone to explore the potential for gold mineralization associated with the fault system. The Company had originally acquired the Golden Brook for its gold potential. Within this immediate area, the most significant deposit is the former Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit now owned by First Mining, and has since been optioned to Big Ridge Exploration Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.

Helicopter support was booked in advance during early 2023 to ensure its availability. Falcon has applied for financial assistance for the Hope Brook project through Newfoundland's Junior Exploration Assistance (JEA) Program.

Karim Rayani, Chief Executive Officer, commented, "The strategic location of this vast area along the highly prospective Cape Ray Fault Zone is well-known for its gold potential, combined with the adjacent Kraken Pegmatite Field, presents a unique opportunity covering both battery metals and gold. The past success at Hope Brook further validates the area's potential for new discoveries in the region."