MONTRÉAL, May 12, 2025 (GLOBE NEWSWIRE) — Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation“) is pleased to announce that it has responded to all questions and comments requested by the Direction de l’évaluation environnementale (“DEE“) des projets industriels et miniers on February 27, 2025 (the “Correspondence“), as more fully described in Falco’s press release dated March 3, 2025.
The responses, commitments, and explanatory letter submitted (the “Responses“) follow the meetings and clarifications obtained from representatives of the Ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the “Ministry“) and other ministries, regarding the principal issues raised by the Horne 5 project (the “Project“), in the Correspondence. The Responses will allow the Ministry to complete its analysis in accordance with the standard evaluation process.
Advancement of Certain Issues
Regarding the Ministry’s interpretation of section 197 of the Clean Air Regulations (“CAR“), the Ministry representatives are continuing their analysis, and Falco is confident that the Ministry’s position on this issue will be known in the coming weeks. For more information, refer to the Corporation’s press release dated March 3, 2025, by clicking on the following link.
Regarding the potential impacts of the Project on the Centre de radio-oncologie régional de Rouyn-Noranda (Rouyn-Noranda Regional Radiation Oncology Centre), la Direction de santé publique de l’Abitibi-Témiscamingue (the Abitibi-Témiscamingue Public Health Department) confirmed that it has selected its seismologist expert to form part of its technical committee of experts who will work to assess the risks posed by the Project on the equipment, structures, and activities of the Centre intégré de la santé et de services sociaux de l’Abitibi-Témiscamingue (the Abitibi-Témiscamingue Integrated Health and Social Services Centre) and to identify mitigation measures to ensure the safety and proper operation of the facilities and activities. A first meeting of the technical committee will be held in the coming weeks.
Luc Lessard, President and CEO of Falco, commented: “I would like to thank our employees and experts for the work they have done to enable the submission of responses to the Ministry, which brings us closer to a conclusion regarding the environmental authorization process for our Horne 5 Project. Falco believes that the Ministry has all the relevant information to complete its analysis and make its recommendation to the Members of Cabinet.“
As previously disclosed, the results of the independent survey recently conducted by Léger demonstrate strong majority support for the Project in Rouyn-Noranda and Abitibi-Témiscamingue.
About Falco
Falco Resources is one of the largest holders of mining titles in the province of Québec, with a large portfolio of properties in the Abitibi greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, representing 67% of the entire camp and including 13 former gold and base metals mining sites. Falco’s principal asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco’s largest shareholder with a 16.0% interest in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.com
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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. These statements include references to the social acceptability of the Project, the Ministry’s interpretation of section 197 of the CAR, the issues identified in the course of the BAPE process and noted by the Ministry, the development of the Horne 5 Project and the granting of environmental authorizations. These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management’s expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including, without limitation, the risk factors identified in Falco’s annual management’s discussion and analysis and in other continuous disclosure documents available at www.sedarplus.com .
Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. As mentioned by Falco in its public disclosure and in its previous press releases, certain major issues have been raised by the Ministry in the context of the development of the project and in the BAPE process, including the compliance of the Project with section 197 of the CAR. There is no certainty or guarantee that the Ministry will change its position regarding the application of section 197 of the CAR to the Project, that Falco will be able to respond to the numerous additional requests from the Ministry in a timely manner or that Falco will be able to raise the necessary funds to continue the additional studies requested by the Ministry, which could significantly delay or prevent the granting of the required authorizations and therefore have an adverse impact on the development of the Project and on Falco’s financial situation. Except as required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information.
