Investor Presentation – 2025 Annual General Meeting

AGM Presentation

ONCE IN A BLUE MOON

COMPANY PRESENTATION | OCTOBER 2025 ASX : FAL

COMPANY PRESENTATION | OCTOBER 2025 ASX : FAL

• Earn-in to 70% plus 100% owned tenure

  Errabiddy Project JV

• Cratonic margin gold project in similar structural setting to the

  5.4Moz1 Tropicana Gold Mine

• Includes Olsen Well Gold Target, a 5.8km-long untested soil anomaly

  Farrelly Mineral Sands

  Project, VIC

• High-grade mineral sands discovery

  at the Farrelly deposit

• Positive results from first pass metallurgical test work

• Strategic land holding in the Murray Basin Mineral Sands Province

  1 https://www.anglogoldashanti.com/

  PERTH

  Pyramid Hill Gold Project

Blue Moon Gold Project

MELBOURNE

• Largest land position in the prospective Bendigo Zone Gold Province

• Regional scale gold targets

  emerging

  Blue Moon Gold Project,

  VIC

• Northern down-plunge extension of the 22Moz Bendigo Goldfield

• High-grade Bendigo-style stacked zones confirmed

• Open 6 km to the north with multiple lines extending onto Falcon tenure, seven new drill pads approved with two rigs actively drilling

1. COMPANY PRESENTATION | OCTOBER 2025

   Corporate Overview

   Top Shareholders

   9.0%

   Capital Structure and Financials

   8.3%

   16.3M

   Options

7.8%

61.3%

11.0%

2.6%

1. COMPANY PRESENTATION | OCTOBER 2025

DR MARK BENNETT

Non-Executive Chair

TIM MARKWELL

Managing Director

ALEX DORSCH

Non-Executive Director

KATINA LAW

Non-Executive Director

PRADEEP SUBRAMANIAM

Chief Financial Officer

DOUG WINZAR

Exploration Manager

30+ years' experience in gold and base metal exploration

Founding Managing Director of Sirius Resources, discovered Nova-Bollinger

Currently the Executive Chairman of S2 Resources (S2R.ASX)

30+ years' experience in gold and base metal exploration with expertise in geology, fund management, and mining

Held the role of Investment Manager of the African Lion funds at Lion Selection Group (LSX.ASX) for 14 years

As Managing Director when Chalice (CHN.ASX) made the Gonneville discovery, has led the company through an exceptional and transformational growth period

Diverse experience in the resources sector in a variety of management, advisory, and consultancy roles

30+ years in the mining industry, including board roles with ASX-listed explorers

Served as Chair of Finance and Audit committees and has a strong commitment to corporate governance

Currently NED at Yandal

Resources (YRL.ASX)

Chartered accountant with broad financial and commercial experience across the mining, resources, and professional services sectors

Expertise spans treasury management, corporate governance, and technical project oversight

25+ years' experience in gold, base metal and diamond exploration

Held the role of Exploration Project Manager for IGO in the Kimberley Region and NT

5 COMPANY PRESENTATION | OCTOBER 2025

Gold, VIC

Blue Moon occurs on Dja Dja Wurrung land. Falcon acknowledges their ongoing connection to the land and pay our respect to them, their culture and their elders, past, present and emerging.

6 COMPANY PRESENTATION | OCTOBER 2025

• The Bendigo Zone is home to two world class gold deposits:

  • Bendigo Goldfield (22 Moz @ ~15g/t Au) famous for its high-grade reef style free-milling gold since its discovery in 1851; and

  • Fosterville Gold Mine with the Swan Zone (2.3 Moz @ 49.6g/t Au1),

    owned by Agnico Eagle (NYSE: AEM)

• Falcon is targeting the down plunge northern extension of the Bendigo Goldfield, initially on the Garden Gully Line (~5.2Moz @ 15g/t Au2,3)

• Drilling highlights: 1.2m @ 543g/t Au, 6.5m @ 33g/t Au and 0.3m @185g/t Au, all with visible gold

• Shows the untapped potential of the Bendigo Goldfield as it continues

  northwards through Falcon's ground

• Multiple lines of reef to target

• Seven new drill pads approved, second rig now drilling

  EL007839

  1 Kirkland Lake Gold MD&A 31 Dec 2017, Press Release 11 Dec 2018, Press Release 21 Feb 2019

  2 November 2022. Catalyst Metals Ltd, AGM Presentation slide.13

  3 November 2003 Fraser et al, The Role of Historical Research in the Development of the 'New Bendigo' Gold Project, Central Victoria

  
  
  

  7 COMPANY PRESENTATION | OCTOBER 2025

  
  
  Blue Moon

  • EL007839 surrounds the world class Bendigo goldfield (22 Moz @

    ~15 g/t Au)

  • Review of all historical data, with 3D reconstruction of the historical Bendigo workings, confirmed no previous modern exploration on the northern extension of the goldfield onto Falcon's tenure

  • Focus on Blue Moon, located directly along strike and down plunge from the Garden Gully anticline trend (line of reefs):

    • The most productive in the goldfield (~5.2Moz @ 15g/t Au1,2)

    • Historical shafts closest to Falcon tenement boundary provided detailed information to target the Garden Gully anticline with the first drill hole

  • Falcon's drilling is the first ever into this conceptual target, designed to test the eastern limb of the anticline down plunge from historical production

1 November 2022. Catalyst Metals Ltd, AGM Presentation slide.13

2 November 2003 Fraser et al, The Role of Historical Research in the Development of the 'New Bendigo' Gold Project, Central Victoria

8 COMPANY PRESENTATION | OCTOBER 2025

Observations from Bendigo, Ballarat and Fosterville suggest that there is a strong plunge component to the high-grade mineralisation in Central Victoria

9 COMPANY PRESENTATION | OCTOBER 2025

10 COMPANY PRESENTATION | OCTOBER 2025