FG Falcon Gold Corp

Falcon Gold Corp. (TSX VENTURE:FG), ("Falcon" or the "Company") is pleased to
announce that it has entered into a Letter of Intent ("LOI") with Templer Gold
Corp. ("Templer"), a private British Columbia company, which through its wholly
owned US subsidiary controls a 100% interest in the Washington Silver Property.
The Washington Silver Property consists of the Silver Bell mining lease and 51
unpatented mining claims located in Washington State.


The Silver Bell mining lease covers an area of 80 acres and 51 unpatented mining
claims includes an additional 800 acres. The Washington Silver Property is
located in the Sheridan Mining District in north central Washington State,
approximately 14 kilometres northwest of the town of Republic and approximately
50 kilometres south of the Canada - USA border. The property is located in a
district of northern Washington State that extends into southern British
Columbia that includes a number of past producing silver and gold mines that
collectively represent an Epithermal Ag-Au district. Kinross Gold Corporation is
mining the Buckhorn Gold deposit (Proven and Probable Reserves of 1.08 Mt at an
average grade of 10.96 g/t gold) and operates the Kettle River Mill, where it
treats the Buckhorn ore, which is located approximately 8 km from the Washington
Silver Property.


Silver was first discovered in the area of the Washington Silver Property in
1897 and the property has had a sporadic production history including 1907,
1940, and 1980-1983. During the period 1980-1983 production came from the Silver
Bell Open Pit located on the Silver Bell Mining Lease. The property contains a
number of Au and Ag showings consisting of veins, vein stocks works, and
siliceous breccias consistent with the district style of epithermal
mineralization.


The results of grab samples collected by Falcon from the Silver Bell property,
as part of Falcon's due diligence, are summarized in table 1 below, and
illustrate the potential of the property to host high value mineralization.


Table 1:



               ----------------------------------------------               
               Sample ID             Ag (g/t)        Au (g/t)               
               ----------------------------------------------               
               ----------------------------------------------               
               SBP 1                    1,896             3.5               
               ----------------------------------------------               
               SBP 2                    1,091             2.1               
               ----------------------------------------------               
               SBP 3                       47    less than 2               
               ----------------------------------------------               
               SBP 4                      571             2.2               
               ----------------------------------------------               



"The acquisition of the Washington Silver Property provides Falcon with an
excellent exploration opportunity" said Ed Stringer, President and CEO of Falcon
Gold Corp.


Subject to completion of the transaction, a first phase exploration program will
include property wide geological mapping as well as detailed evaluation of
mineralization in the area of the Silver Bell pit including geological mapping,
sampling, and diamond drilling.


Terms of the LOI

Falcon will acquire 100% of the issued and outstanding shares of Templer in
exchange for the issuance of 4,815,000 common shares and 1,407,500 warrants of
Falcon. Each warrant is exercisable for one common share of Falcon at $0.17 per
share for a period of two years. The Washington Silver Property is subject to a
2% net smelter royalty (NSR), of which 1% may be purchased by Falcon at any time
for $1million. The current shareholders of Templer will have the right to
appoint two directors to Falcon's Board. A finder's fee will be paid upon
closing.


On completion of the transaction, Templer will become a wholly owned subsidiary
of Falcon.


This transaction is subject to the completion of definitive agreements, Templer
shareholder approval and TSX Venture Exchange approval.


Private Placement

The Company also announces a private placement financing of up to $750,000.
Falcon will issue up to 7,500,000 units at $0.10 per unit with each unit
consisting of one common share and one-half warrant. Each whole warrant will be
exercisable into one common share of Falcon at $0.17 per common share for a
period of two years. Use of proceeds will be for working capital purposes, and a
first phase exploration program on the Washington Silver Property project. The
private placement is expected to close contemporaneously with the acquisition of
the shares of Templer.


Qualified Person

Jamie Lavigne, P.Geo, Vice President Exploration and Director of Falcon Gold
completed the sampling on the Washington Silver Property and has reviewed and
approved the technical contents in this press release.


About Falcon Gold Corp.

Falcon Gold Corp. is a Canadian mineral exploration company focused on
generating, acquiring, and exploring mining opportunities in the Americas.


On Behalf of the Board of Directors 

FALCON GOLD CORP.

Edward Stringer President, CEO and Director

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, native issues, etc.
Forward looking statements address future events and conditions and therefor,
involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements.

Falcon Gold (TSXV:FG)
過去 株価チャート
から 5 2024 まで 6 2024

Falcon Gold (TSXV:FG)
過去 株価チャート
から 6 2023 まで 6 2024