Falco Resources to complete updated FS for Horne 5

Executive Summary

• Falco Resources Ltd. outlines its strategic priorities for 2026, focusing on the advancement of its flagship Horne 5 polymetallic project toward the receipt of the Quebec ministerial decree.
• The company is currently updating its 2021 feasibility study to reflect current metal prices, updated cost assumptions, and refined development planning to support future financing and execution readiness.
• The Horne 5 project, located in Quebec's historic Noranda mining camp, has completed public hearings for its environmental impact assessment and is progressing toward final government approval.

Key Details

• Project Status (Horne 5):
  • Located in Rouyn-Noranda, Quebec.
  • Described as a large, gold-led underground polymetallic deposit.
  • Environmental impact assessment has been deemed admissible.
  • Public hearings have been completed.
  • Project is advancing toward the receipt of the Quebec ministerial decree.
• Feasibility Study Update:
  • Falco is updating its 2021 feasibility study.
  • Updates include current metal prices, updated cost assumptions, and refined development planning.
  • Goal is to support strategic engagement and future financing discussions.
• 2026 Strategic Priorities:
  • Advancing Horne 5 toward the Quebec ministerial decree.
  • Completing the feasibility study update.
  • Continuing disciplined technical and permitting work.
  • Expanding institutional and analyst engagement.
  • Advancing community consultation initiatives.
  • Maintaining transparent communication with shareholders.
• Management Commentary:
  • President and CEO Luc Lessard stated the focus for 2026 is "execution" and aligning execution with clear communication to close the valuation gap.
  • The project is characterized as having strong community support, existing regional infrastructure, and a development plan for a long-life, low-cost operation with critical mineral (copper and zinc) contributions.

Notable Quotes

• "The Horne 5 project is one of the most advanced undeveloped polymetallic projects in Canada, and our focus in 2026 is execution." — Luc Lessard, President and CEO
• "Our fundamentals are strong, and 2026 is about aligning execution with clear, consistent communication... We believe this approach will help close the valuation gap and position Falco as a leading, construction-ready polymetallic development story in Canada." — Luc Lessard, President and CEO