Falcon Metals Limited advises that it has now received assays for its first reverse circulation (RC) drilling program comprising 10 holes for 1,691m at the Company's Viking Gold Project ("Viking") in Western Australia. Viking is located 30km southeast of Norseman in the Northern Foreland of the Albany Fraser Province, where historical drilling programs intersected numerous high-grade shallow intercepts in the oxide zone, with limited follow-up drilling. Drilling tested for primary mineralisation down-dip to the oxide zone intercepts at the Beaker 1 and Beaker 2 Prospects, with high-grade results intersected in multiple holes with grades up to 28.5g/t in shallowly dipping mineralised shear zones up to 6 metres wide. The structures are open along strike and down plunge at both prospects. There are also indications of a potential new target zone to the northeast of Beaker 2 where deeper cover precluded effective testing by previous exploration. A diamond drilling program is set to commence in December to further test the extent of the mineralised structures at Viking. Drilling Completed at Viking: Falcon has received final assays for the ten RC drill holes completed for 1,691m at Viking at the Beaker 1 and 2 Prospects, with 5 RC holes drilled at each prospect. Drilling targeted the down-dip and potential down-plunge extensions to historical drill intercepts. High-grade results were received for three of the intercepts at Beaker 2, and the mineralised structure was intersected at Beaker 1 over a strike length of 600m. Mineralisation is associated with shallow south-easterly dipping shear zones within relatively undeformed granodiorites and diorites. These shear zones generally consist of muscovite-chlorite- biotite schists with varying amounts of quartz veining and sulphides. The shear zones were successfully targeted with the drilling, however due to some challenging ground conditions, several holes did not reach target depth. Although these mineralised shear zones are quite continuous and predictable, the continuity of grade within these prospective zones is highly variable and requires further investigation. The understanding of the mineralised structures has improved from relogging existing diamond holes, detailed logging of the RC chips and targeted litho-geochemical sampling. This suggests the mineralisation was associated with magmatic-sourced hydrothermal fluids (intrusion-related orogenic gold model). This style of mineralisation is expected to be regionally extensive,
particularly along the prospective structure that hosts the Beaker 1 and Beaker 2 Prospects. Of particular interest is the continuation of this structure, which will be named the Viking Shear, to the northeast, where the previous exploration was ineffective due to the increased depth of cover along this structure.