Falco Horne 5 Project Status and Environmental Process Update

MONTRÉAL, Nov. 11, 2026 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) (“Falco” or the “Corporation”) reports substantial progress on Falco’s Horne 5 Project (the “Horne 5 Project” or “Project”) since the Bureau d’audiences publiques sur l’environnement (“BAPE”) report. Working with Québec’s Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks (“MELCCFP”), Falco has advanced technical and environmental assessments, addressed community concerns and made tangible regional commitments. This update highlights the progress made in addressing concerns and advancing the Horne 5 Project toward the next stages of its development.

Advancing toward a key environmental milestone
Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations at Falco, commented: “The past two years have been an important phase in the development of the Horne 5 Project. This time has enabled us to better understand community concerns, further assess several technical, social and environmental aspects, and strengthen our commitments. The progress achieved puts us in a position to continue advancing toward a major milestone: obtaining the environmental decree.”

Continued progress with Québec’s Ministry of the Environment and the New Government
In June 2026, the MELCCFP indicated that information submitted by Falco allowed potential solutions to be identified for issues raised during the review. At that time, the Ministry anticipated completing its environmental acceptability assessment in fall 2026, subject to receiving satisfactory additional information.

Falco continues to participate in working sessions with the Ministry’s Environmental Assessment Directorate and to respond to requests for clarification and supporting information. Meanwhile, the Corporation is engaging with members of the new government following last October’s elections.

Concrete commitments to the community
Alongside the environmental review, Falco has advanced a series of initiatives focused on community dialogue, protection of residences and infrastructure, quality of life and lasting regional benefits. Since January 2025, these initiatives have included:

Community dialogue and accountability

• Ten meetings of the Advisory Committee, including its Integrity, Residences and Infrastructure subcommittee, bringing together diverse community representatives and, where appropriate, independent experts. – See the 2025 Activity Report (French). Note: Meeting minutes are available through the Horne 5 Project’s documentation (French).
• A community engagement governance framework developed with Rouyn-Noranda-based Agence Marinade to support structured, ongoing dialogue.
• An initial Integrity – Residences and Infrastructure Program addressing vibration-related commitments, together with a Community Interaction Management Plan (French).
• An independent Léger survey on understanding and social acceptability of the Horne 5 Project (French).
  
  

Regional economic and quality-of-life assessments and benefits

• Aviseo Consulting’s Socioeconomic study examining how an influx of workers could affect demand for services in Rouyn-Noranda (French).
• An updated 2026 economic impact assessment prepared by KPMG (French).
  
  

Addressing vibration-related concerns

• An independent expert report issued in March 2026 commissioned by the Regional Public Health Department (CISSS-AT) concluded that Falco’s mining activities could proceed without significant risk to the equipment at the Rouyn-Noranda Radiation Oncology Centre (the “Centre”), provided specified measures are implemented.
• Falco conducted continuous vibration monitoring at the Centre from February through September 2026 to assess existing conditions and how vibrations attenuate through the ground.
  
  

Investing in community projects

• A consultation table established with the City of Rouyn-Noranda to discuss a framework contribution agreement.
• A three-year, $90,000 partnership with Collectif Territoire supporting rehabilitation of lac Osisko (French).
• A workplan with the City of Rouyn-Noranda to acquire the Arthur-Gagnon ecocentre lands (French).
• A Contribution toward construction of a new ecocentre on Mathieu Street in the industrial district (French).
  
  

Luc Lessard, President and Chief Executive Officer of Falco Resources, added: “The Horne 5 Project has the potential to deliver lasting economic benefits to Rouyn-Noranda and the wider region. Our progress is measured not only by technical milestones, but also by how we respond to local priorities. We are advancing the Project through sustained dialogue, independent assessment and concrete commitments to the community.

Next Milestone: the environmental decree
Falco is working with the MELCCFP to complete the environmental assessment. Once that assessment concludes, the MELCCFP then recommend the Project to the Québec Cabinet, which will determine whether to authorize it by decree. The decree would mark a major milestone, allowing Falco to move forward with detailed engineering and preparatory development work. Additional studies, permits and authorizations would still be required before construction and operations.

A significant opportunity for Rouyn-Noranda and the region
The Horne 5 Project represents approximately $1.75 billion in planned investment and the potential for 500 direct, permanent jobs. An independent KPMG assessment (French) estimates $12.1 billion in project-related expenditures over 15 years, with the potential to support economic activity across Rouyn-Noranda and the Abitibi-Témiscamingue.

Based on its current project schedule, Falco is targeting receipt of the environmental decree in early 2027. The timing and outcome remain subject to the government’s assessment and authorization process.

For more information about the Corporation and its project:

• Falco Resources: Home | Ressources Falco
• Falco Horne 5 Project (French): Home | Falco Horne 5
  
  

About Falco
Falco is one of the largest mineral claim holders in the province of Québec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 60,000 hectares of land in the Noranda Camp, which includes 13 former gold and base metal mine sites. Falco’s main 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 Gold Group Inc. is Falco’s largest shareholder, with a 16.0% interest in the Corporation.

For further information, please contact:
Luc Lessard	Stéphane Gasse
President and Chief Executive Officer and Director	National Public Relations
	sgasse@national.ca
Hélène Cartier	(418) 265-8056
Vice-president
Environment, Sustainable Development and Community Relations

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.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: “believe”, “envisions”, “estimates”, “assumes”, “evaluates”, “inferred”, “probability”, “planned”, “projected”, “ensure” “anticipates”, “contemplated”, “expected”, “anticipate” and similar expressions, or that events or conditions “would”, “will”, “can”, or may” occur. All statements that are not statements of historical fact are forward-looking statements.

Forward-looking statements in this press release include, without limitation, statements regarding the projections and assumptions of the Report, including, without limitation: expected direct and indirect Québec and regional GDP contribution from the Project; expected federal, provincial and local tax revenue; and economic assumptions and sensitivities and other operational and economic projections with respect to the Horne 5 Project as well as benefits of the Project for the community.

Although the Corporation believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.

The forward-looking statements contained herein is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the effects of general economic conditions; changing foreign exchange rates; risks associated with exploration and project development; the calculation of mineral resources and reserves; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work arising from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Corporation’s properties; risk of accidents, equipment breakdowns and labour disputes; access to project funding or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; title matters; government regulation; obtaining and receiving necessary licenses; the risk of environmental contamination or damage resulting from Falco’s operations, the risk that the conditions precedent to the ability to conduct dewatering or mining activities under the operating license and indemnity agreement (“OLIA”) dated January 23, 2024 between Falco and Glencore Canada Corporation (“Glencore”) may not be satisfied; the risk that Falco may not obtain the required financial assurances to be provided to Glencore, or the financing required to develop or operate the Horne 5 Project; the risk that the required permits and authorizations required from governmental authorities to develop and operate the Horne 5 Project may not be obtained on the terms contemplated or at all; the risk that the OLIA may be terminated in accordance with its terms in the event of default or certain other triggers relating to delays in the commencement of dewatering or mining activities; the risk that, once commenced, certain operations of the Horne 5 Project may have to be suspended, altered or modified pursuant to the conditions of the OLIA; the risk that Glencore may require modifications to Falco’s operations at the Horne 5 Project pursuant to the OLIA which would render the operations less profitable or not profitable (compared to expectations included in the 2026 Feasibility Study); the risk that Falco may incur significant losses and other obligations under its indemnities in favour of Glencore contemplated in the OLIA; and other risks and uncertainties including those described in the Corporation’s Management’s Discussion & Analysis for the year ended June 30, 2026, dated September 30, 2026 available at www.sedarplus.ca.

The forward-looking statements contained in this news release are based on the beliefs, estimates and opinions of Falco’s management on the date the statements are made. Although Falco has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.