Falcon Gold clarifies number of shares outstanding

Mr. Karim Rayani reports FALCON GOLD ANNOUNCES 3-FOR-1 SHARE CONSOLIDATION TO OPTIMIZE CAPITAL STRUCTURE Falcon Gold Corp.'s board of directors has approved a consolidation of the company's issued and outstanding common shares, subject to acceptance by the TSX Venture Exchange. Correction of news release dated Jan. 23, 2026: The number of shares outstanding was incorrectly stated as 188 million, whereas the correct number is 177 million. The transaction contemplates a consolidation ratio of one postconsolidation common share to three preconsolidated common shares. No fractional shares will be issued. The company currently has approximately 177 million common shares outstanding. Following the consolidation, Falcon is expected to have approximately 59 million common shares outstanding, subject to rounding. The consolidation is intended to optimize the company's capital structure, improve market efficiency and enhance flexibility as the company advances its exploration portfolio and evaluates corporate and asset-level opportunities, including potential business combinations. With gold prices at record highs, management believes that a more efficient capital structure positions the company to advance its assets and evaluate these opportunities effectively. The consolidation will not result in any change to the company's name, trading symbol or business operations. Falcon will issue a further news release confirming the effective date of the consolidation following receipt of all required regulatory approvals. We seek Safe Harbor.