Falcon Closes Final Tranche Of Private Placement

VANCOUVER, February 21, 2024 - Falcon Gold Corp. (TSX-V:FG)(FSE:3FA)(OTCQB:FGLDF) (the "Company") announces that it has closed the final tranche of its previously announced non-brokered private placement (the "Private Placement") by issuing 5,315,167 units (the "Units") at $0.03 per Unit for gross proceeds of $159,455.01 (the "Final Tranche").

Each Unit consists of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire an additional Share at an exercise price of $0.05 per Share for a period of five years.

In connection with the Final Tranche, the Company paid finder's fees consisting of $2,100 cash and 70,000 finder's warrants (the "Finder Warrants") to Raymond James Ltd. Each Finder Warrant entitles the holder thereof to acquire one Share at an exercise price of $0.05 per Share for a period of two years.

Pursuant to the Private Placement, the Company issued an aggregate 7,481,834 Units at $0.03 per Unit for aggregate gross proceeds of $224,455.02.

The proceeds from the Final Tranche will be used for general working capital purposes, more specifically for general and administrative expenses (50%) and for exploration on its Canadian projects (50%). None of the proceeds from the Final Tranche will be used for payments to non-arm's length parties or persons conducting investor relations activities.

All securities issued in connection with the Final Tranche will be subject to a statutory hold period expiring four months and one day after the issuance date. Final acceptance is subject to the TSX Venture Exchange.

CONTACT INFORMATION:

Telephone: (604) 716-1036
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Falcon Gold Corp.