Mr. Luc Lessard reports

FALCO ANNOUNCES EXTENSION OF CERTAIN DEADLINES AND OTHER AMENDMENTS UNDER THE SILVER STREAM TRANSACTION

Falco Resources Ltd. and Osisko Gold Royalties Ltd. have entered into an amendment to the silver purchase agreement dated Feb. 27, 2019, relating to Falco's Horne 5 project. The amendment postpones certain deadlines granted to Falco to achieve milestones set as conditions precedent to the Osisko financing, the remaining instalments of the stream deposit and certain other deadlines.

The amendment comprises additional changes to reflect the execution of the operating licence and indemnity agreement with Glencore in January, 2024, including that the financing of the second and third instalment of the stream deposit will be subject to Falco demonstrating that financial assurances in favour of Glencore under the OLIA can be satisfied. The amendment also increases the minimum equity financing required as a condition precedent to financing the second and third instalments to reflect inflation since the initial execution of the silver stream, as well as a revised provision on the calculation of interest payable to Osisko once production has commenced or should commence, is postponed. A copy of the amendment has been filed under Falco's profile at SEDAR+.

The independent directors of the corporation have approved such amendments under the silver stream.

About Falco Resources Ltd.

Falco Resources is one of the largest mineral claim holders in the province of Quebec, with extensive landholdings in the Abitibi greenstone belt. Falco owns approximately 67,000 hectares of land in the Noranda mining camp, which represents 67 per cent of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal asset is the Falco Horne 5 project located under the former Horne mine that was operated by Noranda from 1927 to 1976, and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder, owning a 16-per-cent interest in the corporation.

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