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Falco Buys Back a Portfolio of Net Smelter Royalties

Written by Customer Service on . Posted in Public Companies.

MONTREAL, April 12, 2021 (GLOBE NEWSWIRE) — Falco Resources Ltd. (FPC: TSX-V) (“Falco”) announces that, pursuant to the exercise of a right of first refusal, it has bought back, a portfolio of net smelter return royalties varying from 1% to 2% from IAMGOLD Corporation (the “IAMGOLD NSR”) relating to, among others, properties known as Flavrian and Central Camp. Such properties are not part of the Horne 5 properties. In consideration for the IAMGOLD NSR, IAMGOLD received a cash amount of US$500,000.

About Falco

Falco 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 Gold Royalties Ltd’s subsidiary, Osisko Development Corp. is Falco’s largest shareholder owning 18.2% interest.

For further information, please contact:

Luc Lessard
President and Chief Executive Officer and Director
514-261-3336
info@falcores.com

Jeffrey White, LL.B, MBA
Director, Investor Relations
416-274-7762
rjwhite@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.

 

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