SOURCE: Falco Resources Ltd

Falco Resources Ltd

September 12, 2014 08:30 ET

Falco Appoints Sean Roosen as Chairman

VANCOUVER, BC--(Marketwired - September 12, 2014) - Falco Resources Ltd. ("Falco") (TSX VENTURE: FPC) today announced the appointment of Mr. Sean Roosen as a Director and Chairman of the Board. The appointment follows an announcement by Osisko Gold Royalties Ltd. (TSX: OR) on August 29 that it intends to increase its ownership interest in Falco to 14.99%.

"Sean made an enormous contribution to the gold mining industry in the Province of Quebec during his tenure as President and CEO of Osisko Mining Corp.," said Trent Mell, President and CEO. "Falco stands to benefit from a stronger relationship with its largest shareholder in three ways: access to capital, technical bench strength and first-in-class sustainability practices. I have known Sean for several years and I am looking forward to working with him."

"We know the Abitibi and I believe our expertise can help Falco advance its strategic objectives," said Sean Roosen, Chairman and CEO of Osisko Gold Royalties Ltd. "Falco controls the last of the large Abitibi camps that is not owned by a major gold producer and, as their largest shareholder, we want to help them succeed."

Mr. Roosen has been Chairman of the Board and CEO of Osisko Gold Royalties since June 2014. Prior to this, he was President and CEO of Osisko Mining Corporation, which he co-founded. He was a guiding force in transforming Osisko Mining from a junior exploration company to a leading intermediate gold producer. Over that period, he was responsible for developing the permitting and financing strategy to bring the $1 billion Canadian Malartic Mine into production. Mr. Roosen's other directorships include Condor Petroleum Inc., Dalradian Resources Inc. and NioGold Mining Corporation. A graduate of the Haileybury School of Mines, Mr. Roosen has held numerous roles in the mining industry both domestically and internationally.

About Falco

Falco Resources Ltd. (TSX VENTURE: FPC) is one of the largest claim holders in the Province of Quebec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 72,800 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 Complex, 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).

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties Ltd. (TSX: OR) is a gold-focused royalty and stream company whose cornerstone asset is a 5% NSR royalty on the Canadian Malartic Gold Mine, located in Malartic, Quebec. The Company also holds a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario.

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

  • For further information contact:
    Mr. Dean Linden 
    Senior Vice President 
    Business Development 
    +1.425.449.9442
    dlinden@falcores.com

    Ms. Deanna Kress
    Corporate Communications
    +1.604.336.6346
    1.855.238.4671
    dkress@falcores.com