SOURCE: Falco Resources Ltd.

Falco Resources Ltd.

December 24, 2014 09:00 ET

Falco Announces Election of Directors and Granting of Stock Options

TORONTO, ON--(Marketwired - December 24, 2014) - Falco Resources Ltd. ("Falco" or the "Company") (TSX VENTURE: FPC) announced that the seven nominees listed in the management information circular dated November 19, 2014, were elected as directors of Falco.

Detailed results of the vote for the election of directors held at the annual and special shareholders meeting December 23, 2014 are set out below.

Nominee Votes
James Davidson 34,388,856 99.44% 194,000 0.56%
Claude Ferron 34,582,856 100% 0 0.00%
Paul-Henri Girard 34,582,856 100% 0 0.00%
Luc Lessard 34,027,856 98.40% 555,000 1.60%
René Marion 34,582,856 100% 0 0.00%
Trent Mell 34,582,856 100% 0 0.00%
Sean Roosen 34,027,856 98.41% 555,000 1.59%

All other resolutions provided for in the management information circular were also approved. The continuation of the Company under the Canada Business Corporations Act and the new long-term incentive plan remain subject to receipt of final acceptance from the TSX Venture Exchange.

Long-Term Incentive Grants

Falco also announced that the Board of Directors approved the grant of incentive stock options to directors and officers to purchase up to an aggregate of 2,828,388 common shares in the capital stock of the Company. Grants to officers are subject to a three-year vesting period and a five-year term and grants to directors are subject to a two-year vesting period and a three-year term, all at an exercise price of $0.45 per share.

About Falco

Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Quebec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 75,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 14 former gold and base metal mine sites. Falco's principal property is the 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. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an initial inferred resource of 2.8 Moz AuEq at 3.46 g/t AuEq (25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au -- see March 4, 2014 press release for details).

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.

Contact Information