Falco Resources to begin gravity survey in Noranda camp

Executive Summary

• Falco Resources Ltd. is commencing a major exploration initiative across its holdings in the Noranda mining camp in Quebec, starting with an airborne gravity gradiometry (AGG) survey over 280 square kilometres.
• The survey, utilizing Falcon fixed-wing AGG technology, aims to identify new near-surface VMS-type deposits by measuring density contrasts between host rock and sulphide mineralization.
• Concurrently, the Board approved the grant of incentive stock options to key personnel, officers, and directors to purchase up to 9.95 million common shares.

Key Details

• Exploration Program:

  • Activity: Airborne Gravity Gradiometry (AGG) survey.
  • Scope: 280 square kilometres across the majority of Falco's land package in the Noranda camp.
  • Technology: Falcon fixed-wing AGG system operated by Xcalibur MPH (Canada) Ltd.
  • Resolution: High-density grid with 100-metre line spacing.
  • Objective: Identify new near-surface, VMS-type (volcanogenic massive sulphide) deposits by detecting sharp density contrasts between lighter host rock and denser sulphide mineralization.
  • Geological Context: The Noranda camp is a world-class mining region in Abitibi, Quebec, where over 19.0 million ounces of gold equivalent were previously mined. Falco holds ~63,000 hectares (63% of the camp), including 13 former mining sites.
  • Data Integration: Results will be combined with historical data compilations and high-precision topographic data from government-managed lidar surveys to define structural controls and priority exploration targets.
  • Timeline: Survey to be flown over the next month; results expected for analysis in December 2025.
  • Next Steps: Definition of priority exploration targets in brownfield sites; potential drilling to be determined based on target merit.

• Stock Option Grant:

  • Quantity: Up to an aggregate of 9.95 million common shares.
  • Recipients: Key employees, officers, special advisers, and directors.
  • Exercise Price: 33 cents per common share (based on the closing price on the TSX Venture Exchange on Nov. 4, 2025).
  • Vesting: Three-year vesting period.
  • Term: Five-year term.

Notable Quotes

• Luc Lessard, President and CEO: "While the Horne 5 project remains the corporation's primary focus, Falco is unique among peers as few, if any, gold exploration companies hold such a significant position in a world-class mining camp. With this modern exploration technology, we believe this survey offers an unprecedented opportunity to generate new discoveries in the Noranda camp."
• Luc Lessard, President and CEO: "Combining this new exploration approach with our extensive compilation of historical data, the potential to identify more VMS-type deposits in the periphery of the Horne 5 project complex is very compelling."