Falcon Metals (FAL) Company presentation summary

Project highlights and exploration results

• High-grade gold mineralisation confirmed at Blue Moon, with intersections such as 1.2m @ 543g/t Au, 6.5m @ 33g/t Au, and 2.75m @ 41.9g/t Au, indicating the northern extension of the Bendigo Goldfield.

• Drilling has defined mineralised zones over 850m at Garden Gully, with the system remaining open for more than 5km to the north.

• Multiple parallel reef structures are being targeted over a 6km strike, with three diamond rigs operating continuously and seven drill pads approved.

• The Errabiddy Gold Project in WA features a 5.8km long gold soil anomaly at Olsen Well, with rock chip results up to 6.4g/t Au and a 6,000m RC drilling program underway.

• Aggressive exploration programs are supported by a strong cash position, with A$45.4M available following a recent A$30M capital raising.

Corporate structure and management

• Market capitalisation stands at A$142.2M with a share price of A$0.54 as of 21 September 2026 and no debt.

• Top 20 shareholders own approximately 50.8% of the company, with significant institutional backing from Franklin Templeton, Jupiter, and others.

• The board and management team have extensive experience in gold and base metal exploration, including leadership roles in major discoveries such as Nova-Bollinger and Julimar.

Regional context and geological significance

• The Bendigo Zone is a world-class gold province, historically producing 22Moz at ~15g/t Au, with high-grade mineralisation controlled by anticlinal structures.

• Blue Moon is the first modern test of Bendigo’s northern extension, with historical mining stopping just short of current tenure.

• The Errabiddy project is located in an emerging goldfield on the Yilgarn craton margin, near Benz Mining’s Glenburgh deposit.