File: '\\swfile\EmailIn\20251029 160349 Attachment Falcon Gold Corp. - News Release re 2025 MCTO.docx'

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FALCON GOLD CORP. ANNOUNCES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS AND APPLICATION FOR MANAGEMENT CEASE TRADE ORDER

Vancouver, British Columbia, Canada - October 29, 2025 - Falcon Gold Corp. (the "Company") (TSXV: FG), announces that it anticipates a brief delay in the filing of its 2025 Annual Filings (as defined below), beyond the prescribed filing deadline of October 28, 2025.

The Company is required to file, on or before the filing deadline, the following: (a) the audited financial statements of the Company for the fiscal year ended June 30, 2025; (b) the related management's discussion & analysis for the fiscal year ended June 30, 2025; and (c) the chief executive officer and chief financial officer certification of filings required under Section 4.1 of National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "2025 Annual Filings").

Although the audit process has commenced, the Company experienced a short delay in engaging its auditor, Davidson & Company LLP ("Davidson"), as a result of timing and administrative factors. The Company has since engaged Davidson and has been advised by the auditor that additional audit procedures remain to be conducted, which will not allow the Company to file the 2025 Annual Filings by the prescribed filing deadline. Following discussion with its auditor, the Company anticipates being able to file the 2025 Annual Filings as soon as they are available, but in any event no later than December 28, 2025. The Company will issue a news release once the 2025 Annual Filings have been filed. Management notes that there are no disagreements or major unresolved issues with the auditor on any matter of the audit scope or procedures, accounting principles or policies, or financial statement disclosure.

In connection with the filing default, the Company applied to the British Columbia Securities Commission (the "BCSC") for a management cease trade order (an "MCTO") that will prohibit the Chief Executive Officer and the Chief Financial Officer of the Company from trading in the securities of the Company until such time as the 2025 Annual Filings have been filed. The BCSC granted the MCTO effective October 29, 2025, which will result in the general public being able to continue to trade in the Company's listed securities.

During the period of default and until the filing of the 2025 Annual Filings, the Company intends to satisfy the provisions of the alternative information guidelines as required by National Policy 12-203 - Management Cease Trade Orders. The Company's management and other insiders are subject to a trading blackout reflecting the principles contained in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, until the 2025 Annual Filings have been filed.

The Company is not subject to any insolvency proceedings, and, other than as disclosed in the Company's press releases, there has been no material information that has not been disclosed.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas.

ON BEHALF OF THE BOARD OF DIRECTORS

Karim Rayani

Chief Executive Officer and Director

For further information please contact:

Email: k@r7.capital

Phone: (604) 716-0551

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement:

This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding the expected timing for the filing of the Company's 2025 Annual Filings. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business plans and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," "would" or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in the completion of the audit resulting from factors that management is currently unaware of, or that management believes are not likely to occur. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.