Mr. Luc Lessard reports

INDEPENDENT SURVEY CONFIRMS PUBLIC SUPPORT FOR FALCO HORNE 5 PROJECT

Falco Resources Ltd. has published the results of an independent survey of the population of Rouyn-Noranda and Abitibi-Temiscamingue conducted by Leger regarding the understanding and social acceptability of the Falco Horne 5 underground mine project.

Three out of four people support the project

The results show that Falco enjoys strong majority support in Rouyn-Noranda, where 72 per cent of respondents are in favour of the Horne 5 project, and in Abitibi-Temiscamingue, where support reaches 74 per cent. These results demonstrate the population's significant support for the project, particularly given its economic spinoffs and positive impact on employment.

Trust in Falco

Respondents recognize the benefits the project will bring to the region, emphasizing its key role in local and regional economic growth and job creation. Despite some concerns about environmental impacts, a strong majority of respondents (73 per cent) are confident that Falco will work with civil society actors to ensure responsible implementation of the project.

A project for the common good

In addition, a high proportion of respondents (74 per cent) felt that the project should proceed for the community's benefit, strengthening the legitimacy and social acceptability of the Falco Horne 5 project in the region.

Helene Cartier, vice-president of environment, sustainable development and community relations, stated: "As demonstrated by the numerous briefs submitted to BAPE, these results confirm the population's strong support for our project and our commitment to act responsibly. We will continue our concerted efforts with all stakeholders to ensure a mutually beneficial development. We believe this strong support justifies our request to the Quebec government to deem the project acceptable."

Luc Lessard, president and chief executive officer, added: "These results are a testament to the broad support for the project among Rouyn-Noranda residents, consistent with what we have been seeing for several years now. Falco has submitted to the authorities at the Quebec government a mining development project that will be of great benefit to the city, the Abitibi-Temiscamingue region and all of Quebec. It remains surprising, however, that after more than eight years, the government has yet to recognize the project's conformity."

The company will continue its discussions with the Ministere de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs to have the project's compliance recognized and complete the environmental analysis.

Highlights

Favourability of the project

• 73 per cent of respondents were in favour of the project (28 per cent very favourable, 46 per cent somewhat favourable);
• Only 15 per cent are unfavourable (5 per cent very unfavourable, 10 per cent somewhat unfavourable).

Main reasons for being in favour

• 47 per cent: job creation;
• 26 per cent: positive impact on the local economy.

Main perceptions

• 86 per cent believe the project will have a positive economic impact;
• 80 per cent believe mining projects strengthen regional pride;
• 73 per cent are confident that Falco will make its project acceptable and aligned with applicable societal and environmental expectations;
• 61 per cent believe Falco will take public opinion into account.

The survey was conducted from Feb. 27 to March 9, 2025, among 500 Abitibi-Temiscamingue residents aged 18 and over. The presumed margin of error is plus or minus 4.38 per cent, 19 times out of 20.

The Falco Horne 5 project features a state-of-the-art mining operation that maximizes the use and rehabilitation of previously disturbed sites such as Quemont and Norbec. The project will generate significant economic benefits, contributing approximately $3.8-billion to Quebec's GDP (gross domestic product), including $2.2-billion to the regional GDP, notably through the creation of 900 jobs during construction and 500 jobs during operations. By adding value to critical and strategic minerals, it will actively contribute to the energy transition and decarbonization of the economy.

About Falco Resources Ltd.

Falco Resources is one of the largest mineral claim holders in the province of Quebec, with an extensive portfolio of properties in the Abitibi greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda mining camp, which represents 67 per cent of the camp and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 project located beneath the former Horne mine, which 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, with a 16-per-cent interest in the company.

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