Falco Announces Changes to Its Management Team

Falco Resources Ltd. (“

Falco

” or the “

Corporation

”) (TSX-V: FPC) is pleased to announce the appointment of Ms. Mireille Tremblay as Vice President, Legal Affairs and Corporate Secretary of the Corporation. Ms. Tremblay has been acting as Director, Legal Affairs and Assistant Corporate Secretary of the Corporation since January 2021, and replaces Mr. André Le Bel who stepped down as Vice President, Legal Affairs and Corporate Secretary on June 30, 2022, to fully dedicate himself to his current employer Osisko Gold Royalties Ltd.

Luc Lessard, President and CEO, commented, “On behalf of the Board of Directors, I would like to congratulate Mireille on this appointment as I believe she is a great addition to our management team. We also take the opportunity to thank André for his loyal service to the Corporation.”

Ms. Tremblay has more than 25 years of experience in business law and practiced as a securities, merger and acquisitions and corporate finance lawyer with two major Canadian national legal firms as well as external legal consultant to clients working in various industries, including the mining industry.

In connection with her appointment, Ms. Tremblay received an aggregate of 150,000 incentive stock options (the “Options”), in accordance with the Corporation’s Long Term Incentive Plan. The Options have been granted at an exercise price of $0.33 per share representing $0.09 (38%) premium over the closing price of the common shares of the Corporation listed on the TSX Venture Exchange on July 4th, 2022. The Options are subject to a three-year vesting period and a five-year term.

About Falco

Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 70,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Horne 5 Project located in the former Horne mine that was operated by Noranda (now Glencore Canada Corporation) 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 owning a 17.3% interest in the Corporation.

For further information, please contact:

Luc LessardPresident, Chief Executive Officer and [e-mail]

Jeffrey White, LL.B, MBADirector, Investor Relations [e-mail]

Neither the 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 press release.