Mr. Karim Rayani reports

FALCON GOLD RECEIVES DRILL PERMIT FOR CENTRAL CANADA GOLD PROJECT, ATIKOKAN ONTARIO -QUETICO FAULT ZONE

Falcon Gold Corp. has now received the required exploration permit to conduct diamond drilling at its Central Canada project, located approximately 180 kilometres east of Thunder Bay, Ont., near the town of Atikokan.

With the permit now in place, the company plans to return to the project to commence its next phase of diamond drilling with up to 20 drill holes planned totalling 2,500 metres.

"We are pleased to have now received the drill permit for Central Canada," said Karim Rayani, chief executive officer of Falcon Gold. "Our previous drilling confirmed high-grade mineralization and visible gold across multiple zones, including the Central Canada mine trend and associated structures. With the addition of our conceptual exploration target, this next phase of drilling is designed to systematically test and expand these zones and further evaluate the scale of the system."

The Central Canada project is situated within a historically active Atikokan gold camp in Northwestern Ontario and has seen multiple phases of exploration and development over several decades. Historical work includes underground development, shaft sinking, surface workings and multiple drill campaigns by previous operators, reflecting the long-recognized gold potential of the system.

Falcon's most recent work includes two diamond drill programs completed in 2020 and 2021, which confirmed structurally controlled gold mineralization and visible gold (VG) within multiple target areas. These programs returned high-grade intercepts and provided key geological data supporting continuing exploration targeting.

Key results reported from these programs included:

• 10.17 grams per tonne gold over 3.0 metres starting at 67.0 metres and 18.6 grams per tonne gold over 1.0 metre (with visible gold) from 104 metres in CC20-01;
• 2.8 grams per tonne gold over 7.5 metres from 158.1 metres in CC20-09.

Drilling and historical data have defined several priority mineralized zones at Central Canada, including the Central Canada mine trend (CCMT), J.J. Walshe zone, Monte zone, No. 2 vein, Sugar shear, Hoist zone and Honey zone. These zones are interpreted as part of a broader structurally controlled gold system that a majority remains underexplored by modern systematic drilling.

Based on integrated historical data and Falcon's drilling results, the company has outlined a conceptual exploration target of approximately:

• 500,000 to 1.2 million tonnes grading eight to 12 grams per tonne gold.

This target is conceptual in nature, is not National Instrument 43-101 compliant and should not be considered a mineral resource estimate. Additional drilling will be required to evaluate continuity and scale potential.

The coming drill program will focus on testing and expanding these priority zones, with emphasis on structural continuity, grade distribution and system scale.

Further details regarding timing and scope will be provided as planning advances.

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 NI 43-101, Standards of Disclosure for Mineral Projects.

About Falcon Gold Corp.

Falcon Gold is a Canadian mineral exploration company focused on the acquisition, exploration and advancement of precious and battery metals opportunities across the Americas, with a portfolio spanning established mining camps and emerging exploration districts. Its flagship asset, the Central Canada gold project, is located approximately 20 kilometres southeast of Agnico Eagle's Hammond Reef gold deposit in Northwestern Ontario. The project lies within the highly prospective Quetico fault zone, a major regional structural corridor interpreted as a key control on gold mineralization in the district. The Hammond Reef deposit is associated with a northeast-trending structural system linked to this broader regional framework, highlighting the significance of the geological setting. The Central Canada property has a documented exploration and development history spanning more than a century. Early work between 1901 and 1907 included shallow shaft development and small-scale production from high-grade material processed through stamp milling. Between 1930 and 1935, Central Canada Mines Ltd. further advanced the project with deeper underground development, crosscutting and the installation of a small-scale gold mill. Subsequent exploration programs have included diamond drilling campaigns that returned multiple high-grade gold intercepts, supporting the presence of significant mineralization within the system. Beyond its flagship project, Falcon Gold maintains a diversified portfolio of Canadian exploration assets. This includes a 49-per-cent interest in the Burton gold property in partnership with Iamgold near Sudbury, Ont., exploration-stage gold targets in British Columbia through the Spitfire and Sunny Boy claims, and the Great Burnt copper-gold project in central Newfoundland.

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