Mr. Karim Rayani reports

FALCON GOLD CORP. PROVIDES UPDATE ON PROPOSED SHARE CONSOLIDATION

Further to Falcon Gold Corp.'s news releases dated Jan. 23, 2026, and Jan. 27, 2026, the TSX Venture Exchange has accepted for filing the proposed consolidation of the company's issued and outstanding common shares on the basis of one new common share for every three outstanding common shares.

The common shares are expected to commence trading on a postconsolidation basis on or about April 16, 2026, subject to receipt of all required approvals, including final approval of the TSX-V. The new ISIN and Cusip numbers for the postconsolidation common shares will be CA3060443064 and 306044306, respectively. The company will retain its current name, Falcon Gold Corp., and trading symbol FG.

As of the date hereof, the company has 177,934,130 common shares issued and outstanding. Following completion of the consolidation, the company expects to have approximately 59,311,377 common shares issued and outstanding, subject to adjustments for rounding. No fractional common shares will be issued in connection with the consolidation. Any fractional interest arising from the consolidation will be rounded to the nearest whole common share, with fractions of one-half or greater rounded up and fractions of less than one-half rounded down. No cash consideration will be paid in respect of fractional shares. The exercise price and number of common shares issuable upon the exercise or conversion of the company's outstanding convertible securities will be proportionately adjusted in accordance with their respective terms.

Registered shareholders as of the record date will receive a letter of transmittal with instructions for exchanging their preconsolidation share certificates for postconsolidation share certificates. Beneficial shareholders holding shares through a broker or other intermediary will not be required to take any action, as their holdings will be adjusted electronically.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the company, the consolidation was approved by way of resolutions passed by the board of directors of the company.

About Falcon Gold Corp.

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

We seek Safe Harbor.