FALCON GOLD CORP - FGLDF STOCK NEWS

Falcon Gold Corp. and Marvel Discovery have commenced exploration on their Golden Brook Projects in Newfoundland. The projects are strategically located near the Kraken Pegmatite Field and within proximity to the Hope Brook Gold Mine, which previously produced 752,163 ounces of gold. Current efforts include prospecting and till sampling to assess mineralization potential, with drilling planned for early 2023. This area has garnered attention due to nearby lithium discoveries, suggesting promising mineral opportunities for the Alliance.

Falcon Gold Corp. has increased its non-brokered private placement to raise $1,200,000 by issuing up to 7,692,307 flow-through units and 1,818,182 non-flow-through units. Each flow-through unit, priced at $0.13, includes one common share and a warrant to purchase a share at $0.25 for 24 months. Non-flow-through units are priced at $0.11 with corresponding warrants at $0.15. Proceeds will fund exploration in British Columbia, Ontario, Newfoundland, and Quebec.

Falcon Gold Corp. expands its HSP South Project by staking 290 additional claims, increasing its total to 703 claims and covering 37,962 hectares, marking a 70% expansion. This increase positions Falcon as one of the largest mineral claim holders in the Havre St. Pierre Anorthosite Complex. The project aims to capitalize on the nickel potential identified by neighboring Go Metals Corp, with plans for airborne EM surveys. The company is also engaged in a recent acquisition deal, involving $10,000 cash and share distributions, subject to TSX Venture approval.

Falcon Gold Corp. has received final court approval for its spin-out of subsidiary Latamark Resources Corp. under the Business Corporations Act. The arrangement is set to be implemented around November 2, 2022, where Falcon shareholders as of October 28, 2022 will receive one Latamark share for every 5.8 Falcon shares held. Additional Latamark shares will also be issued to Falcon. However, the completion of the spin-out is uncertain and subject to certain conditions. Full details are available in the Company's Information Circular on SEDAR.

Falcon Gold Corp has acquired 413 claims covering 22,302 hectares near Go Metals Corp's HSP Nickel Copper Project in Quebec, enhancing its portfolio in battery metals. The claims are strategically located less than 2.2 km from identified mineralization zones. This expansion is part of Falcon's strategy to tap into high-value commodities like nickel and copper, complementing their existing projects in Ontario and Quebec. CEO Karim Rayani emphasized the aim to build shareholder value through targeted exploration, with immediate plans for airborne surveys to identify key targets.

Falcon Gold Corp. (FGLDF) has received shareholder approval for its Spin-Out with Latamark Resources Corp., a wholly owned subsidiary. The agreement involves transferring the company's interest in the Esperanza gold project to Latamark in exchange for shares and liability assumption. A final court order on this transaction was granted on September 14, 2022, pending TSX Venture Exchange approval. Notably, the Esperanza property encompasses 11,072 hectares and has shown promising mineralization, with past drilling highlighting significant gold and silver grades.

Falcon Gold Corp. and Marvel Discovery Corp. provided an update on their Hope Brook Projects, delayed due to forest fires affecting helicopter availability. A geophysical review revealed shear zone corridors and a major fold closure, leading to further prospecting and sampling initiatives. Their focus has shifted to the Gander district following recent mineral discoveries there. The Hope Brook property is near significant gold deposit areas and has historical production of over 750,000 ounces of gold.