CORRECTION BY SOURCE: Falcon Receives Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

The release issued this morning has been corrected and replaced due to an update.

VANCOUVER BC / ACCESSWIRE / March 4, 2024 / Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that the Company has received drill permit approval to conduct a diamond drilling program at its Great Burnt Copper Project in central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. The Company will provide further guidance on an estimated drill start date once logistics for the program are determined and service providers are confirmed.

Mr. Karim Rayani, Chief Executive Officer, commented, "We are extremely pleased to have been able to expand our footprint in the Great Burnt Copper District. This property will be explored for its potential to host orogenic gold and copper-bearing massive-sulphide mineralization that may contain gold. Falcon's new claims overlie the northern continuation of the conductive trend which is associated with lithologies that host the copper-rich Great Burnt and gold-rich South Pond deposits held by Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture. The northern conductive trend has never been drill-tested or subjected to any systematic exploration program. Our desktop studies have identified geophysical targets within Falcon's project that are drill-ready, and with the recent drill permit approval we are now in the logistical planning phase. We look forward to updating our exploration and drilling plans in the coming months."

Falcon holds 2,275 hectares in the Great Burnt Camp, with licenses located north of Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") recently optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. ("Spruce") in an agreement that allows Benton to earn a 70% interest in the property (see 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 at 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 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce reported 8.06% Cu over 27.2 m (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 right hand side image in Figure 2).