Falco Resources Ltd. Announces Election of Directors
MONTREAL, Dec. 21, 2021 - Falco Resources Ltd. (TSX.V: FPC) ("Falco" or the "Corporation") announces that five (5) director nominees listed in the management information circular of the Corporation were elected during the annual meeting of shareholders held on December 20, 2021. In addition, Mr. Claude Dufresne, a new proposed nominee by the Corporation, was also elected through the exercise of the discretion deriving from the proxies granted by the shareholders to the management team of the Corporation. Mr. Dufresne has 30 years of experience in the mining industry. Until this fall, he was President, Chief Executive Officer and Director of Niobay Metals inc., a position held since June 2014. Mr. Dufresne was a manager at IAMGOLD and worked for 10 years as a metallurgist and plant superintendent for Cambior in Qu?bec and Guyana. He was also responsible for the sale and marketing of ferroniobium produced by the Niobec mine in Qu?bec for over 10 years. In 2007, Mr. Dufresne founded Camet Metallurgy Inc., a company specializing in the sale and marketing of various metals. He has participated in economic studies on a number of rare earth, niobium, manganese and bauxite projects and has acted as a supplier of various raw materials for the steel industry. Mr. Dufresne obtained a diploma in mining engineering with a specialty in mineral processing from Universit? Laval in 1991 and is a member of the Ordre des ing?nieurs du Qu?bec.
Detailed results of the vote for the election of directors held at the annual meeting of shareholders on December 20, 2021 are set out below:
| ITEM N?1 Nominee | Votes Cast FOR | Percentage (%) of Votes Cast FOR | Votes WITHHELD | Percentage (%) of Votes WITHHELD |
| Mario Caron | 102,398,991 | 99.44 | 576,753 | 0.56 |
| Alexander Dann | 102,581,792 | 99.62 | 393,952 | 0.38 |
| Claude Dufresne | 108,623,669 | 100.00 | n/a | n/a |
| Paola Farnesi | 102,353,978 | 99.40 | 621,766 | 0.60 |
| Luc Lessard | 102,537,156 | 99.57 | 438,588 | 0.43 |
| Chantal Sorel | 102,353,978 | 99.40 | 621,766 | 0.60 |
Appointment and Remuneration of Auditor
Based on the proxies received, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed to serve as independent auditor of the Corporation for the ensuing year at a remuneration to be fixed by the Board of Directors, with the following results:
| ITEM N?2 | Votes cast FOR | Percentage (%) of Votes Cast FOR | Votes WITHHELD | Percentage (%) of Votes WITHHELD |
| Appointment and Remuneration of Auditor | 108,230,091 | 99.73 | 289,113 | 0.27 |
Special By-Law Number 2021-1
Based on the proxies received, shareholders approved the ordinary resolution approving Special By-Law Number 2021-1, a by-law amending the General By-Laws of the Corporation, providing greater flexibility to the Corporation to hold meetings of shareholders by telephonic, electronic or other communication facilities. The results are as follows:
| ITEM N?3 | Votes cast FOR | Percentage (%) of Votes Cast FOR | Votes AGAINST | Percentage (%) of Votes AGAINST |
| Ordinary resolution to approve the Corporation's Special By-Law Number 2021-1 | 102,818,867 | 99.85 | 156,577 | 0.15 |
Long-Term Incentive Plan Resolution
Based on the proxies received, shareholders approved the ordinary resolution approving the Corporation's existing long-term incentive plan ("LTIP"). The results are as follows:
| ITEM N?3 | Votes cast FOR | Percentage (%) of Votes Cast FOR | Votes AGAINST | Percentage (%) of Votes AGAINST |
| Ordinary resolution to approve the Corporation's existing LTIP | 96,575,143 | 93.78 | 6,400,601 | 6.22 |
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Qu?bec, 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 a 17.3% interest in the Company.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514-261-3336
info@falcores.com
Jeffrey White, LL.B, MBA
Director, Investor Relations
416-274-7762
rjwhite@falcores.com
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