Falcon Gold Corp. announced summer exploration has commenced at its Springpole West property in the Red Lake mining district. The Company has initiated a two-phase surface exploration program that will include a GPS-controlled Magnetometer surface survey, and a soil Geochemistry program.

Falcon controls an extensive land package within the underexplored Birch-Uchi Greenstone Belt, and the Company's initial program at the property will be conducted as a "first pass" reconnaissance program in order to evaluate the property's mineral potential. It is anticipated that success with the initial project will lead to follow-up with more detailed fieldwork, including prospecting, geological mapping, geochemical and geophysical surveys over important target areas. Falcon's initial exploration program is expected to wrap up in mid-July.

Falcon's Springpole West Property is located within the Birch-Uchi Greenstone Belt, a tectonically complex volcano-sedimentary belt within the western Uchi Subprovince in Northwestern Ontario. The property comprises 197 claims covering 217 units and extends northeast from the McNaughton Township for approximately 22 km. The northeastern part of the property is less than 4 km from the Springpole Gold deposit, one of the largest undeveloped gold projects in Ontario.

The claims cover a potentially gold-bearing silicified mafic volcanic-sedimentary rock contact, and a major property-wide fault zone, over a 13.5 km strike length. Historical work has identified significant gold and silver values on surface and at depth. In 1979, a diamond drill hole by Sherritt Gordon Mines Ltd. intersected 19.40 g/t Au over 30 centimeters within a deformation zone hosted within a quartz vein-stockwork system.

In addition, massive sulphide pods along the fault zone have reportedly been historically exploited by former operators who have reported surface grab samples that returned up to 8.38% Zn, 16 g/t Ag and 0.05 g/t Au. Historic drilling of geophysical anomalies along the fault zone have reportedly intersected 0.25% Cu, 2.68% Zn, and 0.05 g/t Au over 1 meter (BP Resources, 1985). The Property is directly contiguous to First Mining Gold Corp.'s ("First Mining") Springpole Gold Deposit, which is reported as one of the largest undeveloped gold projects in Canada.

The Property covers the same geological terrain as that world class gold deposit. First Mining completed its preliminary economic assessment ("PEA") in November 2019 and reported an Indicated Resource of 139.1 Mt grading 1.04 g/t Au and 5.4 g/t Ag, containing 4,670,000 ounces of Au and 24,190,000 ounces of Ag, as well as an Inferred Resource of 11.4 Mt, averaging 0.63 g/t Au and 3.1 g/t Ag, containing 230,000 ounces of Au and 1,120,000 ounces of Ag. The area is accessible by float plane, ATV trail, and winter road.

The Property is within 6 km of an all-weather gravel road and hydro-electric transmission lines are close by.