Falco Resources Ltd. · TSXV:FPC
Falco Resources — Investor Presentation (October 2026)
32 slides from Falco Resources's investor presentation, Oct 1, 2026
Slide 1: Corporate Presentation
CORPORATE PRESENTATION Developing a major polymetallic gold project located in Rouyn-Noranda, Québec October 1, 2026 TSX.V: FPC | falcores.com
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation contains forward-looking information within the meaning of applicable securities laws (“forward-looking may have to be suspended, altered or modified pursuant to the conditions of the OLIA; the risk that Glencore may require statements”). Forward-looking statem
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Horne 5 Project is a Robust project world-class asset economics Significant re-rating potential Québec advantage • Terms and conditions of project • Tier 1 jurisdiction acceptability via government decree • Project financing • Exploration initiatives Strong Partners Experienced
Slide 4: World-Class Deposit
WORLD-CLASS DEPOSIT HORNE 5 PROJECT PRECIOUS METALS • Proven and Probable Reserves 5.2 M oz AuEq. • Measured and Indicated Resources 7.1 M oz AuEq. Gold Silver 3.3 M oz 27.3 M oz • Inferred Resources 1.7 M oz AuEq. CRITICAL & STRATEGIC METALS • Average annual payable production 220 K oz Au (approxim
Slide 5: Top Gold Development Projects in Canada
TOP GOLD DEVELOPMENT PROJECTS IN CANADA • HORNE 5 is one of the largest and most advanced primary gold projects by life of mine production • HORNE 5 also has the most critical minerals production amongst primary gold projects in Canada LOM Non-Critical Minerals Production (M oz AuEq) 6.8 LOM Critica
Slide 6: Top Gold Development Projects in Canada
TOP GOLD DEVELOPMENT PROJECTS IN CANADA • HORNE 5 ranks 6th within the top 10 gold development projects in Canada by resource size Inferred (M oz Au Eq) 3.8 2.3 Measured and Indicated (M oz Au Eq) 0.9 1.7 7.0 3.3 5.0 1.5 11.0 11.7 3.4 4.3 7.9 7.1 5.8 5.9 4.0 3.6 4.1 2.7 Courageous Troilus Tower Hope
Slide 7: Noranda Mining Camp
NORANDA MINING CAMP • Horne 5 - well located with 50 gold and base metal mines currently or historically active in the Noranda mining camp. • Horne 5 – Resource database includes over 480,000 meters drilling. • Owner of 60,000 ha of prospective exploration ground. 7 TSX.V: FPC | falcores.com
Slide 8: Noranda Mining Camp
NORANDA MINING CAMP World-class operations including: Noranda • 14 historical mines Production: ~19 Moz. across Falco’s 617 km² Bousquet-LaRonde property package, Production: ~17 Moz. Malartic Covers ~60% of the Production: ~13,7 Moz. Noranda Camp Val d'or Production: >25 Moz. • Great land package C
Slide 9: Established Mine Site
ESTABLISHED MINE SITE Horne 5 Project 9 TSX.V: FPC | falcores.com
Slide 10: Established Mine Site
ESTABLISHED MINE SITE Deposit is located beneath Glencore’s copper smelter’s land package, below Horne 5 the historical Horne Mine (operated by Project Noranda from 1926 to 1976). Former Quemont Mine Falco prioritized previously impacted Former sites for its mining infrastructures: Horne Mine Horne
Slide 11: Horne Deposit
HORNE 5 DEPOSIT LONGITUDINAL TRANSVERSAL • Continuity of operation of the HORNE QUEMONT 2 QUEMONT 2 HORNE Horne Mine • Horne Mine historic production: • 53.7 Mt at 6.1 g/t Au • 13 g/t Ag Mineral Reserves*: • 2.22% Cu 80.9 Mt (1.99 g/t AuEq) *2026 Feasibility Study HORNE 5 Total historic production:
Slide 12: Mineral Reserves and Resources
MINERAL RESERVES AND RESOURCES MINERAL RESERVES *2026 Feasibility Study Tonnes NSR Au Ag Cu Zn (Mt) ($/t) (g/t) (g/t) (%) (%) Proven 8.4 223.0 1.41 15.8 0.17 0.75 Probable 72.5 246.0 1.44 14.0 0.17 0.78 Proven and 80.9 245.7 1.44 14.1 0.17 0.77 Probable MINERAL RESOURCES ESTIMATE (AT C$75 NSR CUT-OF
Slide 13: Mining and Mineral Processing
MINING AND MINERAL PROCESSING ORE BODY PHASES OF STOPE MILL THROUGHPUT: SPECIFICATIONS DEVELOPMENT ±16,000 TPD • Massive, moderate-grade • Dewatering of the historical Primary-secondary grinding, Tailing disposal deposit mines cyclone / flotation circuit • Underground: paste/hydraulic • Vertically o
Slide 14: Robust Project Economics
ROBUST PROJECT ECONOMICS 2026 SPOT UNIT FEASIBILITY SEPTEMBER PAYABLE METAL VALUE SPLIT STUDY 30, 2026 Reserves M tonnes 80 80 Average grade g/t AuEq 1.99 1.99 DEPOSIT 8.6% Life Of Mine Years 15 15 7.0% Annual Production (Payable) Oz Au 220,000 220,000 8.7% Gold US$/ounce $3,600 $4,150 Silver US$/ou
Slide 15: Sensitivity Analysis
SENSITIVITY ANALYSIS COMMODITIES PRICE TABLE Gold price (US$/oz) $2,400 $2,800 $3,200 $3,600 $4,000 $4,400 $4,800 $5,200 After-Tax NPV5% $M 1,561 2,166 2,759 3,348 3,931 4,514 5,096 5,674 Au After-Tax IRR 17.3% 21.3% 24.9% 28.2% 31.3% 34.3% 37.1% 39.8% After-Tax Payback Years 5.0 4.2 3.7 3.3 3.0 2.8
Slide 16: Horne 5: Pre-Production Capital Costs
HORNE 5: PRE-PRODUCTION CAPITAL COSTS Pre-Production Capital Costs (C$ million) 2021 FS 2026 FS Mining 279.9 432.3 Mineral Processing Plant 400.6 635.9 Electrical and Communications 19.1 31.9 Project Infrastructure 98.1 167.4 Tailings and Water Management 64.1 101.4 Indirect Costs 78.4 138.5 Owner’s
Slide 17: Horne 5: Operating Costs
HORNE 5: OPERATING COSTS 2021 FS 2026 FS Operating Costs C$/t Milled C$/t Milled • Mining 12.3 17.4 • Processing 22.0 29.7 • Tailings and Water Management 2.9 10.2 • G&A 2.9 4.4 Total Operating Costs Per Tonne Milled 43.1 61.7 *Totals may differ due to rounding 17 TSX.V: FPC | falcores.com
Slide 18: AISC Curve: Falco vs Gold Producers
AISC CURVE: FALCO VS GOLD PRODUCERS • Horne 5 Project is poised to be among the 1st quartile of low-cost gold producers at US$782/oz Au AISC $4,000 25th 50th 75th 90th Percentile Percentile Percentile Percentile $3,500 $3,000 AISC: US$782/oz Au 220K oz Au Payable (2026 FS) AISC (US$/oz Gold) US$1,32
Slide 19: Revaluation Potential - P/NAV
REVALUATION POTENTIAL - P/NAV • Trading at a significant discount of 0.13x P/NAV • Development stage gold projects in Canada average at 0.33x P/NAV • Junior gold producers average at 0.92x P/NAV 0.52x 0.46x 0.35x 0.36x 0.37x 0.31x 0.31x 0.32x 0.27x 0.13x 0.05x STLLR Troilus First Amex Gold X2 Osisko
Slide 20: Revaluation Potential – EV/oz
REVALUATION POTENTIAL – EV/OZ • Trading at a significant discount of US$19/oz AuEq • Development stage gold projects in Canada average at US$116/oz AuEq $243 $171 $182 $140 $113 $117 $64 $69 $50 $8 $19 STLLR Troilus Gold X2 First Thesis Osisko Radisson Talamore Amex Snowline Mining Gold Group Gold P
Slide 21: Financial Information
FINANCIAL INFORMATION CAPITAL STRUCTURE (September 30, 2026) RELATIVE SHARE PERFORMANCE (Last 12 Months) Shares Outstanding (basic) 355,257,805 Stock Options 14,836,667 Warrants* 81,086,909 Shares Outstanding (fully diluted) 451,181,381 Convertible debt ~C$41.5M Share Price C$0.53 Market Capitalizat
Slide 22: Permitting Process
PERMITTING PROCESS Completed Current Analysis of the project’s Submission of Public information Permits & environmental the EIA & BAPE mandate authorizations acceptability January 2018 Notice of EIA admissibility BAPE filed Decree authorizing Project implementation project analysis – Notice with Min
Slide 23: Community and Social Acceptability
COMMUNITY AND SOCIAL ACCEPTABILITY Strong support from By adding value to critical Results of an independent Québec mining and and strategic minerals, it survey of the population of exploration associations will contribute to the R-N and Abitibi- (AMQ/AEMQ) and R-N energy transition and Témiscamingu
Slide 24: The Québec Advantage
THE QUÉBEC ADVANTAGE Rouyn-Noranda has a rich history of mining since 1923 (more than Qualified mining labor expertise 100 years) Solid network of mining Access to low-cost green suppliers and contractors hydro-electric energy Establishment of the ZIM (Mining Fair and stable taxation system Innovati
Slide 25: Strong Partners
STRONG PARTNERS Silver Stream Agreement Shareholder (~16%) LOM Cu/Zn Concentrate Shareholder (~6%) (up to $180M, $35M Offtake Agreements received to date) Supporter of Operating License and Indemnity responsible Convertible Loan of ~$26M Agreement (signed mineral (exp. Dec. 2026) January 24, 2024) d
Slide 26: Project Advancement & Next Steps
PROJECT ADVANCEMENT & NEXT STEPS Key Milestones Upcoming • Feasibility Study Completed (filed in July • Completion of environmental review (in process) 2026) • Government decree • Economic Benefit Report (KPMG published in • Permit applications and authorizations September 2026) • Detailed engineeri
Slide 27: Further Value Creation Opportunities
FURTHER VALUE CREATION OPPORTUNITIES Greater Potential - Full Upside Not Reflected • Resource expansion at depth • Conversion of inferred resources • Mine plan optimization • Potential synergies with Glencore • Regional exploration opportunities across 60,000 hectares Significant opportunity remains
Slide 28: Investment Thesis
INVESTMENT THESIS Horne 5 is one of Canada's largest advanced-stage gold development projects • C$3.35 Billion After-Tax NPV5% • 28.2% After-Tax IRR • US$782/oz AISC • 220,300 oz Annual Payable Gold Production (~300K AuEq.) • 15-Year Mine Life • C$6.4 Billion After-Tax Cash Flow • Significant levera
Slide 29: Leadership Team
LEADERSHIP TEAM • Experienced development team with strong track record • Successful developers and mine builders of Canadian Malartic • Special Advisors – Sean Roosen and John Burzynski LUC LESSARD, ENG. HÉLÈNE CARTIER, ENG., LL.B., ASC ANTHONY GLAVAC, CPA President, Chief Executive VP, Environment
Slide 30: Questions?
QUESTIONS? TSX.V: FPC | falcores.com
Slide 31: Head Office, Investor Relations, Community Relations
HEAD OFFICE 1100, Canadiens-de-Montréal Avenue Suite 300 Montréal, QC H3B 2S2 +1 1.514.905.3162 INVESTOR RELATIONS COMMUNITY RELATIONS Luc Lessard AND REGIONAL OFFICE President, CEO and Director 230, Marcel-Baril Avenue info@falcores.com Rouyn-Noranda, QC J9X 7C1 +1 1.514.261.3336 +1 1.819.917.3875
Slide 32: Thank You
RESOURCES LTD.
Falco Resources — Investor Presentation (October 2026) on 6ix