Falcon Gold Completes First Phase Exploration Program; Intersects 41m of 18.2g/t Silver at the Washington Silver Property

(TSX VENTURE:FG). Falcon Gold Corp. ("Falcon Gold" or "the Company") is pleased
to announce it has received assay results from the final three diamond drill
holes completed within the Silver Bell Mining lease at its 100% owned Washington
Silver Project. All three holes confirm the presence of a well developed Silver
(Ag) bearing Epithermal zone characterized by highly altered rock hosting
relatively long intersections of Ag mineralization which include higher grade Ag
intercepts (Table 1). Hole SB12-01 (reported October 24, 2012) demonstrates the
high grade potential of the zone with an intersection of 167 grams per tonne
(g/t) Ag over 36.5 metres (m) including a high grade intercept of 511.57 g/t Ag
and 0.83 g/t Gold (Au) over 9.14 m.


Drill hole SB12-04 intersected 5.8 (g/t) Ag over 106 (m) and SB12-05 intersected
18.2 g/t Ag over 41 m. Hole SB12-06 returned a higher grade intercept of 63 g/t
Ag over 3 m that occurred within a wider zone of 17 g/t Ag over 14.9 m that
extended to the end of the hole and remains open for extension.


Falcon Gold completed a summer exploration program that included property wide
geological mapping and sampling, detailed geological mapping and sampling in the
Silver Bell open pit, and 678 metres (2224 feet) of diamond drilling completed
in 6 holes. All drill holes were completed in the area of the Silver Bell Open
Pit and are the first diamond drill holes ever completed on the property.




       TABLE OF SIGNIFICANT INTERCEPTS, SILVER BELL OPEN PIT DRILLING       
Hole ID From (ft) To (ft) Length (ft) Length (m)  Au (gpt) Ag (gpt) Ag (opt)
----------------------------------------------------------------------------
SB12-04    24       375       351       106.99      0.01     5.87     0.19  
  inc.     80       115       35         10.67      0.05    25.71     0.83  
SB12-05    200      335       135        41.15      0.04    18.27     0.59  
 incl.     330      335        5         1.52       0.39    204.00    6.56  
SB12-06    440      489       49         14.93      0.04    17.12     0.55  
  incl     450      460       10         3.05       0.15    63.00     2.03  
Notes: True widths of mineralization are not known.                         



The 2012 summer exploration program completed on the Washington Silver Property
is the first work completed since acquisition of the property, announced on July
15, 2012. Jim Farley, Director of Falcon Gold, stated, "Results from this
initial shallow drill program confirm the presence of a well developed near
surface Silver zone that has the potential to host significant high grade Silver
mineralization. Additionally, we are very encouraged with results from the
mapping and sampling program that identifies a mineralized trend extending for
approximately 1.5 km which represents significant potential for discovery."


A link to the map illustrating the location of the Silver Bell pit drilling and
the location of Ag bearing outcrop grab samples can be viewed at:
http://www.falcongold.ca/i/maps/testopen.jpg.


Falcon Gold is in the process of planning and preparing for phase 2 exploration
on the Washington Silver property which includes detailed evaluation of high
grade mineralization intersected on the Silver Bell lease, and surface
exploration results to develop drill targets along the 1.5km mineralized trend
and elsewhere on the property.


The Washington Silver Project

The Washington Silver property encompasses approximately 880 acres, consisting
of the Silver Bell Mining Lease (80 acres) and adjacent exploration claims (800
acres), and is located in the Ferry and Okanogan Counties in north central
Washington State, approximately 14 kilometres (km) northwest of the town of
Republic and 50 km south of the Canada-USA border.


The district has been an active precious metal mining region for over 100 years.
A number of past producing silver and gold mines collectively represent an
Epithermal Ag-Au district which extends from Northern Washington into British
Columbia. Hecla Mining operated the Knob Hill Mine near Republic, which produced
an estimated 2.4 million ounces of gold before closing, and current projects in
the region include Midway Gold's Golden Eagle deposit (discovered by Hecla
Mining in 1988) and Kinross Gold Corporation's Buckhorn Gold deposit and K1/K2
deposit. Kinross' 1,800 tpd capacity Kettle River Mill 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.


Qualified Person

Jamie Lavigne, P.Geo, Vice President Exploration and Director of Falcon Gold
supervised the diamond drilling and geological mapping programs on the
Washington Silver Property and has reviewed and approved the technical contents
in this press release.


Analytical and QA/QC

Assays were completed at ALS Minerals in Reno, Nevada. All samples received are
crushed to 70% of the sample less than 2mm diameter. A 1 kg split of the crushed
sample is pulverized to 85% less than 75 microns. Gold is analyzed by Fire Assay
on a 30 gram split of the pulverized sample with an AAS finish (ALS method
Au-AA23). Silver is analyzed by a multi-acid digestion followed by hydrochloric
acid leach and AAS analysis (ALS method Ag-AA61). Samples with Silver
concentrations greater than 5 g/t were re- analyzed using fire assay on a 30
gram split followed by gravimetric finish (ALS method Ag-GRA21). QA and QC
measures implemented by Falcon Gold include the use of Certified Reference
Materials, sample blanks, and analyses at a check laboratory.


About Falcon Gold Corp.

Falcon Gold Corp. is a Canadian mineral exploration company focused on
generating, acquiring, and exploring quality 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, 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
647-991-2473
[e-mail]
www.falcongold.ca