ROUYN-NORANDA, Quebec, May 21, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) ("Falco" or the "Corporation") provides a positive assessment of the public information meeting of the Bureau d'audiences publiques sur l'environnement ("BAPE") held on May 21st at the Petit Théâtre du Vieux-Noranda. More than 200 people came for information and to ask questions about Falco's Horne 5 Project ("Falco's Horne 5 Project" or the "Project") not counting webcast participants, which demonstrates the population's high level of interest in the Project for all the surrounding communities.
This public information session allowed the population and various organizations to obtain details on the Project and answers on subjects of concern to them. Falco's team has been engaged and listening to citizens since day one. To that effect, Falco has heard each of the concerns raised during the public information session and again invites the population to come meet the team at Espace Falco, located at 157 Avenue Principale, in Rouyn-Noranda.
Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, declared: "I would like to thank the citizens who took the time to attend the public information session. This process is essential and allows us to establish a climate of trust in complete transparency. From the very beginning, we have worked to establish an open and ongoing dialogue with the community. I invite the population to continue to learn and express themselves on Falco's Horne 5 Project in order to build a unifying and beneficial project for Rouyn-Noranda and the entire region."
Falco's Horne 5 Project is an underground mining project of a world-class historic deposit. The Corporation plans to produce a copper concentrate, a zinc concentrate, gold and silver over a 15-year life of mine. Falco plans to reuse old infrastructures and restore environmental liabilities. It therefore plans to use the old Quemont 2 shaft as access infrastructure to the Horne 5 mineral zone and dispose of the tailings underground in the historic and new mining openings. Excess tailings will be deposited on the site of the former Norbec mine.
Luc Lessard, President and CEO declared: "The BAPE process is an important and essential step for Falco. It will demonstrate that Falco's Horne 5 Project is a high-quality project integrated into its community and that it will have major benefits beyond the city of Rouyn-Noranda. Our teams have been working for years to push technological boundaries in order to sustainably exploit this historic deposit."
The BAPE public information period relating to Falco's Horne 5 Project has been held since April 24, 2024 and will end on June 10, 2024. Citizens, groups, municipalities or organizations who wish the BAPE to carry out a public examination on the social, ecological and economic aspects of the Project have until June 10, 2024 to send a request for public consultation or mediation to the Minister of the Environment, the Fight against Climate Change, Wildlife and Parks. At the end of the public information period, a report will be sent to the Minister and made public on the BAPE digital platforms.
On April 23, 2024, Falco wrote to the Minister of the Environment, Fight and Climate Change, Wildlife and Parks and asked that a public review be held, led by the BAPE, regarding Falco's Horne 5 Project. Falco joined its voice to that of the municipality of Rouyn-Noranda and to local organizations, reiterating to the government that holding public hearings is essential given the interest of the Project for the community and for regional development.
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 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal asset is Falco's Horne 5 Project located under the former Horne mine that 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 owning a 17.3% interest in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514 261-3336
info@falcores.com
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 news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws, in particular Falco's ability to complete the BAPE, to obtain receipt of permits and approvals required to develop Falco's Horne 5 Project and the ability of Falco to efficiently develop and operate Falco's Horne 5 Project based on the terms of the Operating License and Indemnity Agreement ("OLIA")concluded with Glencore Canada Corporation ("Glencore Canada"). 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 ability of Falco to provide the financial assurance guarantees required by the OLIA and the exercise by Glencore Canada of rights under the OLIA which could affect the development and operation of Falco's Horne 5 Project, together with the other risk factors identified in Falco's continuous disclosure documents available at . 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 news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.