File: '\\swfile\EmailIn\20241217 144546 Attachment 24-12-17 Falcon Gold Corp. News Release - MCTO Update - corection.docx'

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FALCON GOLD CORP.

Suite 1100 - 1111 Melville St.

Vancouver, BC, V6E 3V6

VANCOUVER TEL: (604) 716-1036

TORONTO TEL: (416) 477-1220

www.falcongold.ca

info@falcongold.ca

NEWS RELEASE FG: TSX-V

3FA: GR

FGLDF: OTCQB

FALCON PROVIDES CORRECTIO OF PREVIOUS NEWS RELEASE

Vancouver, British Columbia, Canada - December 17, 2024 - Falcon Gold Corp. (the "Issuer" or the "Company") (TSXV: FG), is providing a correction to a news release of December 10, 2024 whereby the Company provided an update on the status of a management cease trade order (the "MCTO") application made by the Company to the British Columbia Securities Commission ("BCSC") due to an expected delay in filing its annual financial statements, management's discussion and analysis and related officer certificates for the financial year ended June 30, 2024 (collectively, the "Required Filings"). The BCSC granted the MCTO on October 29, 2024, and the Company's management continues to work diligently with its auditor to complete the Required Filings. The Company now anticipates that the Required Filings will be filed by December 27, 2024. The previous news release provided a completion date of December 29, 2024.

The Company is providing this status update in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The Company reports that: (i) there are no changes to the information contained in its default announcement on October 29, 2024, that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines set out under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Filings is continuing, which will be issued in the form of a news release; (iii) there has not been any other specified default by the Company under NP 12-203 and no such other default is anticipated; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

The MCTO will stay in effect until the Required Filings are completed and the Company will continue to issue bi-weekly default status reports as required.

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

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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.