Falcon Gold Announces Commencement Drilling on the Burton Property and Financing Engagement

Falcon Gold Corp. (TSX VENTURE:FG), ("Falcon" or the "Company") is pleased to
announce the commencement of diamond drilling on the Burton Gold Property. The
drill program, planned to be approximately 1,500 metres, is being completed to
test targets derived from Induced Polarization (IP) and soil geochemistry
surveys completed during the summer. The summer exploration program and the
drilling program now being initiated are part of Phase 1 of the Option Agreement
with Trelawney Mining and Exploration Inc., an indirect wholly owned subsidiary
of IAMGOLD Corporation (IAMGOLD), previously announced on February 22, 2012.


About The Burton Property

The Burton Gold Property is located in the Swayze Greenstone Belt, Northeastern
Ontario, approximately 150 kilometres (km) south of Timmins and 180 km north of
Sudbury. The property is well-positioned in a very actively explored district.
The Burton Property is approximately 38 kms northwest of the IAMGOLD Cote Gold
Deposit which has an indicated resource of 131 million tonnes at an average
grade of 0.84 grams per tonne ("g/t") (3.56 million ounces gold) and an inferred
resource of 165 million tonnes at an average grade of 0.88 g/t (4.66 million
ounces gold)(1). The Property is also located approximately 10 km northwest of
the past producing Jerome Gold Mine which produced 56,878 ounces gold from 1941
to 1943 (303,966 tonnes @ 6.72 g/t)(2).


Historical diamond drill intercepts at the Burton Property include 9.34 g/t over
an intersection length of 7.75 metres ("m") at the Shaft Zone and 12.47 g/t over
an intersection length of 3.13 m at the East Zone. Diamond drilling completed by
Falcon Gold during 2011 included 3.74 g/t Au over an intersection length of 9.96
m (including 10.98 g/t Au over 2.17 m) and 3.25 g/t Au over an intersection
length of 10.35 m (including 5.65 g/t Au over 2.85 m) at the Shaft Zone (Press
Releases of July 27/2011 and September 12/2011.)


The Burton Gold Property is road accessible and consists of 6 patented mining
claims and 16 unpatented mining claims encompassing 22 claim units (356
hectares) located in Esther Township, Porcupine Mining Division, Ontario.




(1) - Data from IAMGOLD Corporation press release dated October 4, 2012     
(2) - Data from Ontario Ministry of Northern Development and Mines, 1988    



Financing

The Company has also engaged Nottingham Consulting Ltd. who will endeavour to
obtain for Falcon Gold a private placement of up to $800,000 of units consisting
of common shares and one half common share purchase warrants, and flow through
shares. Pricing of the units and of the flow through shares is $0.10 and $0.13
respectively.


Qualified Person and NI 43-101 Disclosure

Jamie Lavigne, P.Geo. VP Exploration for Falcon Gold is the Qualified Person, as
defined in National Instrument 43-101, who has reviewed and approved this press
release and is responsible for the technical information reported herein.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Falcon Gold Corp.
Timea Carlsen
Manager, Corporate Communications
Cell: 647-991-2473 (BIRD)
[e-mail]