FALCON GOLD CORP. COMMENCES DRILL TENDER PROCESS FOR CENTRAL CANADA GOLD PROJECT

FG: TSX-V

VANCOUVER, BC, July 15, 2026 /CNW/ - Falcon Gold Corp. (TSXV: FG) (FSE: 3FA) (OTC Pink: FGLDF) ("Falcon" or the "Company") is pleased to announce that it has commenced the drill tender process for its fully permitted Central Canada Gold Project located near Atikokan, Ontario.

"Central Canada continues to emerge as one of the most exciting exploration opportunities in Falcon's portfolio," said Karim Rayani, Chief Executive Officer of Falcon Gold Corp. "With a fully permitted drill program, encouraging results from our previous drilling campaigns and more than a century of historic exploration to build upon, we believe we are well positioned to advance this project toward its next significant discovery."

The Company recently received approval for a diamond drilling program consisting of up to 20 drill holes totaling approximately 2,500 metres. Falcon has invited a number of experienced Canadian diamond drilling contractors to submit tenders for the upcoming exploration program, with contractor selection expected to be completed in the coming weeks.

The planned drill program is designed to follow up on Falcon's previously identified high-grade gold mineralization while testing additional priority targets generated through the integration of historical exploration, diamond drilling, geological mapping, geophysics and structural interpretation.

Exploration and development at the Central Canada Gold Project dates back to the early 1900s, when the property was the site of shaft sinking, underground development and limited historic gold production. During the 1930s, Central Canada Mines Ltd. further advanced the property through underground development and exploration, establishing the project as one of the historic gold occurrences within the Atikokan Gold Camp.

To date, Falcon has successfully completed two phases of diamond drilling at the Central Canada Gold Project. These programs confirmed the presence of high-grade, structurally controlled gold mineralization, including highlights of 10.17 g/t Au over 3.0 metres, including 18.6 g/t Au over 1.0 metre with visible gold, and 2.8 g/t Au over 7.5 metres. These results have significantly enhanced the Company's geological understanding of the project and refined several priority drill targets.

The upcoming drill program will focus on expanding and testing the historic Central Canada Mine Trend (J.J. Walshe Mine Trend) together with several additional prospective gold-bearing structures identified across the property, including the Sugar Shear, Monte Zone, No. 2 Vein, Honey Zone and Hoist Zone. Collectively, these targets represent a broad, district-scale mineralized system that remains only partially evaluated by modern exploration despite more than a century of intermittent exploration.

In addition to advancing the Central Canada Gold Project, Falcon continues to strengthen its strategic position within the Atikokan-Hammond Reef Gold District through the recent acquisition of the West Hammond Contact Property, providing shareholders with exposure to a growing portfolio of highly prospective gold projects in one of Ontario's premier exploration districts.

Following completion of the tender process, the Company expects to award a drilling contract and announce the commencement of the program. Mobilization will be subject to financing, contractor availability and customary operational scheduling.

The Company will continue to provide updates as exploration activities progress.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mike Kilbourne, P.Geo., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Kilbourne is an independent consulting geologist and is at arms length to the Company. 

ON BEHALF OF THE BOARD OF DIRECTORS
Karim Rayani
Chief Executive Officer
Falcon Gold Corp.
[email protected]
[phone]

About Falcon Gold Corp.

Falcon Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration, and advancement of precious and battery metals opportunities across the Americas, with a portfolio spanning established mining camps and emerging exploration districts. Its flagship asset, the Central Canada Gold Project, is located approximately 20 kilometres southeast of Agnico Eagle's Hammond Reef Gold Deposit in northwestern Ontario. The project lies within the highly prospective Quetico Fault Zone, a major regional structural corridor interpreted as a key control on gold mineralization in the district. The Hammond Reef deposit is associated with a northeast-trending structural system linked to this broader regional framework, highlighting the significance of the geological setting. The Central Canada property has a documented exploration and development history spanning more than a century. Early work between 1901 and 1907 included shallow shaft development and small-scale production from high-grade material processed through stamp milling. Between 1930 and 1935, Central Canada Mines Ltd. further advanced the project with deeper underground development, crosscutting, and the installation of a small-scale gold mill. Subsequent exploration programs have included diamond drilling campaigns that returned multiple high-grade gold intercepts, supporting the presence of significant mineralization within the system. Beyond its flagship project, Falcon Gold maintains a diversified portfolio of Canadian exploration assets. This includes a 49% interest in the Burton Gold Property in partnership with IAMGOLD near Sudbury, Ontario, exploration-stage gold targets in British Columbia through the Spitfire and Sunny Boy claims, and the Great Burnt Copper-Gold Project in central Newfoundland.

Cautionary Language and Forward-Looking Statements

This news release may contain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities laws, including but not limited to statements relating to the timing and content of future work programs, including planned drilling programs, geological interpretations, receipt of property titles, and other corporate and technical matters. Forward-looking statements are based on assumptions, expectations, estimates, and projections as of the date of this news release and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied herein. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "intend," "expect," "plan," "anticipate," "believe," "estimate," "project," "potential," or "continue," or the negative of these terms, or other comparable terminology. Forward-looking statements in this news release may include, but are not limited to, statements regarding planned drilling activities on the Central Canada Gold Project, which is currently permitted for up to 20 drill holes, and the interpretation and potential extension of mineralization along structural trends within the project area. There can be no assurance that the Company's exploration programs will proceed as currently contemplated or that they will achieve their intended objectives. Forward-looking statements are inherently subject to significant business, economic, competitive, and geological uncertainties and contingencies. Actual results may differ materially from those currently anticipated. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that plans, assumptions, or expectations will prove to be accurate.

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.