Mr. Karim Rayani reports

FALCON APPLIES FOR WORK PERMITS AT HOPE BROOK

Falcon Gold Corp. has outlined its exploration plans on its Hope Brook project. The company has filed for initial permits for its first phase of exploration, which includes high-resolution magnetic gradiometry surveying, a proven method to sort the structural complexities in geological terranes. The company will also send prospecting crews to the area to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman/Benton lithium discovery.

Most recently, Sokoman/Benton made headlines announcing the first high-grade discovery of lithium-bearing pegmatites at the Golden Hope project. It is important to note this discovery is fewer than one kilometre away from the company's recent property expansion in the area. The 35 grab and chip samples are noted in the Sokoman/Benton news release dated Sept. 16, 2021, and were collected over a two km distance. The sampling program confirmed the presence of pegmatite and the first significant occurrence of lithium documented in Newfoundland and Labrador, Canada.

Karim Rayani, chief executive officer, commented: "Falcon and our sister company, Marvel Discovery, have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures, but also following the structures to find what we believe are hidden gems that were overlooked and passed by. Sokoman and Benton's new lithium discovery being less than one km away is a testament to our business model."

Falcon's 24,900-hectare Hope Brook property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or is proximal to, two major structures linked to significant gold prospects and deposits in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. Falcon's land position straddles both the eastern and western extents of recent land acquisitions by the Sokoman/Benton joint venture partnership, with Falcon now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.

Within this immediate area, the most-significant deposit is the Hope Brook gold mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold 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.

Qualified person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, PGeo, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

The qualified person and the company have not completed sufficient work to verify the historical information on the properties comprising the Great Burnt claim group, particularly regarding historical exploration, neighbouring companies and government geological work.

About Falcon Gold Corp.

Falcon Gold is a Canadian mineral exploration company focused on generating, acquiring and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada gold mine, is approximately 20 kilometres southeast of Agnico Eagle's Hammond Reef gold deposit, which has currently estimated mineral reserves of 3.32 million ounces of gold (123.5 million tonnes grading 0.84 gram per tonne gold), and measured and indicated mineral resources of 2.3 million ounces of gold (133.4 million tonnes grading 0.54 gram per tonne gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off of the Quetico fault zone (QFZ) and may be the control for the gold deposit. The Central gold property lies on a similar major northeast-trending splay of the QFZ.

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