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Falcon initiates 2nd round 2,000m drill program, Central Canada Gold Mine, Atikokan

Nov 10, 2020

FALCON GOLD has mobilized the diamond drill and crews for its 2020 Stage Two drilling program at the Central Canada Gold mine near Atikokan, northwestern Ontario.

Since concluding the first-round summer drill program comprising seven holes and totaling 1,055 meters ("m") of core at the Central Canada Gold Mine, the Company has evaluated the new geological and analytical data achieved by the drilling. The gold-mineralized mine zone that hosts the Central Canada gold mineralization is clearly a significant structure of highly schistose and altered rock that appears to cross numerous lithologies commonly containing multiple quartz veins and stringers variably mineralized with gold, sulphide minerals and tourmaline. The gold-mineralized mine zone strikes east-north-east and extends well beyond the area drilled by Falcon. The width of the zone is also quite noteworthy. As seen in Falcon's hole, CC 20-01, the structure occupies more than 60m of core length and contains a number of mineralized intervals. The gold mineralization in CC20-01 commenced at 67m with an interval of 10.17 g/t Au over 3m within the broader zone of 1.21 grams per tonne gold ("g/t Au") over 19m. The drill also intersected additional high-grade quartz vein at 104m, which sampled 18.6 g/t Au over 1m. 

The Company has determined that the continuity and strength of the Central Canada mine gold mineralization are suitable for progression into definition drilling and has laid out plans for its second 2020 drill program. The program is budgeted for 2,000m of core drilling with 9 holes planned. The objective of the drilling is to complement Falcon's previous seven holes plus the three holes done in 2012 by TerraX Minerals Inc. ("TerraX") in order to undertake an inaugural mineral resource calculation. The Stage Two drill program work has commenced and drilling can be expected to be completed before the December holidays.

Falcon's Chief Executive Officer, Mr. Karim Rayani stated, "We are very pleased with the progress and milestones achieved in a such a short time, not only have we acquired strategic ground putting Falcon as one of the largest land holders next door to Agnico Eagles Hammond Reef Deposit. We have set the framework for undertaking an inaugural mineral resource calculation. We are thrilled to finally start phase two at the Central Canada property- stakeholders can look forward to a very active winter."

Falcon also reports the airborne geophysical surveys announced on October 1, 2020 have been delayed due to weather-related issues. The geophysical contractor, ProspectAir out of Gatineau, PQ, has advised the Company it will be mobilizing its helicopter and crews within the next couple of weeks. Falcon will announce the results and findings of the surveys as soon as possible.

About Falcon Gold Corp., the Central Canada Gold Mine Project, and Jack Lake Trend

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km south east of Agnico Eagle's Hammond Reef Gold Deposit which has Measured & Indicated estimated resources of 208 million tonnes containing 4.5 million ounces of gold. The Hammond Reef gold property lies on the Hammond fault which is a splay off of the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major splay of the QFZ. 


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