Mr. Luc Lessard reports

FALCO FILES REQUESTED DOCUMENTATION FOR THE HORNE 5 PROJECT'S ENVIRONMENTAL AUTHORIZATION PROCESS

Falco Resources Ltd. has responded to all questions and comments requested by the Direction de l'evaluation environnementale (DEE) des projets industriels et miniers on Feb. 27, 2025, as more fully described in Falco's press release dated March 3, 2025. The responses, commitments and explanatory letter submitted follow the meetings and clarifications obtained from representatives of the Ministere de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs and other ministries regarding the principal issues raised by the Horne 5 project in the correspondence. The responses will allow the ministry to complete its analysis in accordance with the standard evaluation process.

Advancement of certain issues

Regarding the ministry's interpretation of Section 197 of the Clean Air Regulations (CAR), the ministry representatives are continuing their analysis, and Falco is confident that the ministry's position on this issue will be known in the coming weeks. For more information, refer to the corporation's press release dated March 3, 2025.

Regarding the potential impacts of the project on the Centre de radio-oncologie regional de Rouyn-Noranda (Rouyn-Noranda Regional Radiation Oncology Centre), la Direction de sante publique de l'Abitibi-Temiscamingue (the Abitibi-Temiscamingue Public Health Department) confirmed that it has selected its seismologist expert to form part of its technical committee of experts, which will work to assess the risks posed by the project on the equipment, structures and activities of the Centre integre de la sante et de services sociaux de l'Abitibi-Temiscamingue (the Abitibi-Temiscamingue Integrated Health and Social Services Centre) and to identify mitigation measures to ensure the safety and proper operation of the facilities and activities. A first meeting of the technical committee will be held in the coming weeks.

Luc Lessard, president and chief executive officer of Falco, commented: "I would like to thank our employees and experts for the work they have done to enable the submission of responses to the ministry, which brings us closer to a conclusion regarding the environmental authorization process for our Horne 5 project. Falco believes that the ministry has all the relevant information to complete its analysis and make its recommendation to the members of Cabinet."

As previously disclosed, the results of the independent survey recently conducted by Leger demonstrate strong majority support for the project in Rouyn-Noranda and Abitibi-Temiscamingue.

About Falco Resources Ltd.

Falco Resources is one of the largest holders of mining titles in the province of Quebec, with a large portfolio of properties in the Abitibi greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda mining camp, representing 67 per cent of the entire camp and including 13 former gold and base metals mining sites. Falco's principal 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 16.0-per-cent interest in the corporation.

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