Mr. Karim Rayani reports

FALCON ANNOUNCES EXTENSION AND FIRST TRANCHE CLOSING OF NON- BROKERED PRIVATE PLACEMENT

Falcon Gold Corp. has received a 30-day extension from the TSX Venture Exchange to complete its non-brokered private placement of up to 10 million units at three cents per unit for gross proceeds of up to $300,000, as previously announced on Oct. 17, 2023, and Nov. 9, 2023.

The company also announces that it is amending the terms of the private placement. Pursuant to the amended terms, the expiry date of the warrants (as defined herein) will be extended to five years following the date of issuance.

Lastly, the company announces that it has closed the first tranche of the private placement by issuing 2,166,667 units at three cents per unit for gross proceeds of $65,000.01. Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant entitles the holder to purchase one additional share for a period of five years from the date of issuance at a price of five cents per share.

In connection with the First Tranche, the company paid finder's fees consisting of $3,500 cash and 116,666 share purchase warrants (the "Broker warrants") to an arm's-length party. Each Broker warrant is exercisable into one share at a price of $0.05 per share for a period of two years from the date of issuance.

The net proceeds from the private placement will be used for general working capital purposes. None of the proceeds from private placement will be used for payments to non-arm's length parties or persons conducting investor relations activities.

The private placement is subject to TSXV approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month and one day hold period from the closing date.

We seek Safe Harbor.