Falcon Gold files work permit for Sunny Boy-Spitfire

Executive Summary

• Falcon Gold Corp. has filed a notice of work permit for its Sunny Boy-Spitfire project near Merritt, B.C., authorizing an aggressive exploration program including trenching, diamond drilling, and geophysical surveys.
• The company is preparing for an inaugural drill campaign consisting of 25 holes to test surface mineralization along the Master zone, building on recent high-grade grab sample results.
• Historical and recent data highlight significant gold potential, with past samples returning up to 122 g/t Au over 1 meter and historical underground workings reporting values up to 127 g/t Au.

Key Details

• Permit Status: Notice of work permit filed for the Sunny Boy-Spitfire project in British Columbia.
• Planned Exploration: Aggressive program including trenching, diamond drilling, geophysical surveys, and site preparation.
• Drill Program Scope: 25-hole program designed to test surface mineralization along the Master zone ahead of the inaugural drill campaign.
• Recent Sampling Highlights (Master Vein):
  • Channel sample averaged 59.8 g/t Au (1.74 oz/t) over 2.2 meters.
  • Included a 1-meter interval assaying 122 g/t Au (3.56 oz/t).
  • Second channel sample 125m southeast returned 11.4 g/t Au over 1 meter.
• New Discovery:
  • "Cliff vein" discovered approximately 25 meters lower in elevation than the Master vein.
  • Grab sample assayed up to 22.8 g/t Au.
• Historical Context:
  • First recorded discoveries in 1908.
  • Past operators reported high-grade gold values of 124 to 127 g/t Au and 309 to 514 g/t Ag in quartz vein material.
  • Main showing (Master vein) sampled by Ken Sanders, PEng, in 1974 reported up to 50.53 oz/t Au.
  • Best reported drill result from the AL showing: 3.77 g/t Au, 0.24% Cu, and 32.9 g/t Ag over 13.4 meters.
• Geological Setting:
  • Project is an epithermal gold deposit hosted within the Quesnellia terrane (Nicola and Takla groups).
  • Similarities noted to nearby projects Prospect Valley and Shovelnose (Westhaven Ventures Inc.).
• Previous Work (2019-2020):
  • Mapped and channel sampled Master vein over a 300-meter strike length (samples ranging 0.33 to 2.74 oz/t Au).
  • Identified 7.99 g/t Au in silicified wall rock, suggesting new zones for the pending drill program.
  • Acquisition of new claims added 500 meters of strike length (announced June 4, 2020).
• Qualified Person: Mike Kilbourne, PGeo.

Notable Quotes

• "The Merritt area has a rich history of gold exploration, where past operators focused primarily on narrow high-grade veins -- overlooking the broader geological frameworks that support larger mining widths. As new results continue to arrive, our confidence in the district's potential only grows." — Karim Rayani, CEO
• "We are now preparing an aggressive 25-hole program designed to test surface mineralization along the Master zone ahead of our inaugural drill campaign. We believe the Nicola Lake region has all the hallmarks of emerging into B.C.'s next significant gold camp." — Karim Rayani, CEO