Falco Resources Achieves an Important Milestone

MONTRÉAL, July 25, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) ("Falco" or the "Corporation") is pleased to announce that the Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, Benoit Charette, has given the mandate to the Office of Public Hearings on the Environment ("BAPE") to hold an inquiry and a public hearing concerning Falco's Horne 5 project (the "Falco Horne 5 Project" or the "Project"). This mandate will begin on August 26 and will have a maximum duration of four months.

Falco is pleased with this decision which marks an important milestone for the Falco Horne 5 Project. Falco's team will be supported by expert resources, including the firms A2GC, Sanexen, SoftdB, BGC and WSP in order to respond to questions and requests from the population and the BAPE during the hearings. The inquiry commission will be composed of Joseph Zayed, who will act as President, as well as Martin Lessard and Geneviève Meloche, who will act as commissioners. The curricula vitae of the commissioners can be consulted on the BAPE website.

Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, declared: "We welcome Minister Benoit Charette's decision and thank him for listening to the organizations and the population who have, like us, requested that hearings on the Falco Horne 5 Project be held in Rouyn-Noranda. We are convinced that this democratic exercise will be beneficial for the Project and all communities in addition to being beneficial for the socio-economic development of the city of Rouyn-Noranda and the Abitibi-Témiscamingue region."

Luc Lessard, President and Chief Executive Officer declared: "Falco Resources will approach this BAPE exercise with great seriousness and consideration in order to further improve the Project. We will be attentive and receptive to questions and concerns from citizens and organizations in order to respond to the issues raised."

Falco invites the population and organizations to stay tuned for details that will be transmitted by the BAPE which will specify the steps to follow in order to participate in the sessions. In the meantime, the entire Falco team remains available and proactive to support and inform citizens about the Falco Horne 5 Project, ensuring that everyone has access to the information necessary for informed participation.

Citizens who wish to continue to be informed or who wish to express themselves on the Falco Horne 5 Project are invited to Espace Falco, located at 157 avenue Principale, in Rouyn-Noranda.

About Falco Resources Ltd.

Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal asset is the Horne 5 Project located under the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder owning a 16.7% interest in the Corporation.

For further information, please contact:

Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.com

Neither the 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 press release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws, in particular Falco's ability to complete the BAPE. These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management's expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors identified in Falco's continuous disclosure documents available at . Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.