Falco’s Horne 5 Project: The Government of Québec confirms the project’s progress within its environmental authorization process

2 hours ago 3

Article content

Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, summarized: “This project represents major investments, over 500 sustainable jobs, and significant socio-economic benefits for the community. We are collaborating constructively with the Ministry and remain confident that we can move to the next stage.”

Article content

The Horne 5 Project involves developing a polymetallic deposit of copper, zinc, gold, and silver located deep beneath the city of Rouyn-Noranda in the Abitibi-Témiscamingue region. It is one of the largest deposits in North America, with a production potential of over 15 years and the creation of several hundred direct and indirect jobs.

Article content

About Falco

Article content

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 and 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 Development Corp. is Falco’s largest shareholder, with 15.7% interest in the Corporation.

Article content

For further information, please contact:

Article content

Luc Lessard
President and Chief Executive Officer and Director
514-261-3336
[email protected]

Article content

Hélène Cartier
Vice-President, Environment, Sustainable Development and Community Relations
[email protected]

Article content

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.

Article content

Cautionary Note Regarding Forward-Looking Statements

Article content

This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, including statements relating to the completion of the environmental assessment process and the delay for the receipt of the ministerial decree for the Project, if such a decree is received, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology although not all forward-looking statements contain these terms and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking statements. These risks and uncertainties include, but are not limited to, the risk that the conditions precedent to the ability to conduct dewatering or mining activities under the operating license and indemnity agreement (the “OLIA”) 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 within expected timelines and 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 2021 Feasibility Study and any updated versions thereof for the Horne 5 Project); the risk that Falco may incur significant losses and other obligations under its indemnities in favour of Glencore contemplated in the OLIA; and the risk factors set out in Falco’s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. 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 press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Article content