Announcement • 6h
Falco Resources Ltd. Receives Confirmation Of Progress In Environmental Assessment For Horne 5 Project Falco Resources Ltd. has received official confirmation from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks that the environmental assessment process for Falco’s Horne 5 Project, located in Rouyn-Noranda, Québec, Canada, is progressing toward its conclusion. The Ministry anticipates completing the environmental acceptability analysis in the fall of 2026. The information provided to date has led to concrete solutions for many of the identified environmental issues. The Ministry confirmed that the planned mitigation measures could allow mining operations to proceed without compromising the activities of the Regional Radiation Oncology Centre. Falco is working closely with the Ministry’s teams to produce the additional information required to finalize the environmental analysis, particularly regarding the groundwater lowering process. Following the Environmental Impact Assessment and Review Procedure, and after the Minister's recommendation, the Council of Ministers will be responsible for authorizing the Project to proceed. The Horne 5 Project involves developing a polymetallic deposit of copper, zinc, gold, and silver located deep beneath the city of Rouyn-Noranda in the Abitibi-Témiscamingue region. It is one of the largest deposits in North America, with a production potential of over 15 years and the creation of several hundred direct and indirect jobs. The Horne 5 Project is recognized by the government as a significant project that contributes to Québec’s objectives for critical and strategic minerals. This project represents major investments, over 500 sustainable jobs, and significant socio-economic benefits for the community. New Risk • May 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$6.9m free cash flow). Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Apr 22
Falco Resources Ltd Launches High-Resolution Heliborne Magnetic Survey in Western Noranda Camp Falco Resources Ltd. announced the expansion of its exploration initiatives through the launch of a high-resolution heliborne magnetic survey over the western portion of its substantial landholdings within the Noranda Mining Camp, located in the region of Abitibi, Québec. The initial survey, completed late last year, identified several underexplored areas with strong VMS potential. These targets have now been prioritized for further work. The Helimag Program is in progress and is carried out by Geo Data Solutions GDS Inc. of Laval, Québec. This program covers approximately 180 km². The parameters of this program include flight lines spaced 50 meters apart. Upon completion of the Helimag Program, the Corporation will undertake an integrated analysis incorporating geological, geochemical, and additional ground-based geophysical data. This work is expected to support the design of a potential drill program, which could be initiated in the second half of 2026. The Corporation launched an Airborne Gravity Gradiometry survey, a first for the region. The Airborne Gravity Gradiometry survey identified several felsic domes in the Western Camp, consistent with the geophysical signatures observed in the Central Camp, known for high-grade VMS deposits. The Helimag Program has been recommended as the next phase of exploration in the Western Camp. 
