Falcon Metals (FAL) RIU Explorers Conference 2026 summary

Key project updates and discoveries

• Blue Moon discovery confirmed as the northern extension of the Bendigo Goldfield, with significant high-grade gold intercepts such as 1.2m @ 543g/t Au and 6.5m @ 33g/t Au, and three distinct mineralized zones: Morning Glory, Lotus, and Dahlia.

• Drilling has achieved a 100% strike rate in the Lotus Zone, with every section drilled returning over 100 g/t gold, and the mineralization remains open along a 6 km strike to the north.

• Seven drill pads are approved, with two rigs operating continuously and plans to add a third rig to test parallel structures and expand exploration; all current drilling is within Bendigo Regional Park with no further approvals required.

• Approvals obtained to test over 2km of strike extent on the Garden Gully line, with step-out drilling planned to systematically test extensions along strike and down plunge.

• Visible gold has been consistently intersected, and step-out drilling is ongoing, with results pending for additional holes; this is the first modern exploration on the northern extension of the Bendigo Goldfield.

Financial and corporate highlights

• Market capitalization is A$177.2M with a share price of A$0.81 as of 13 Feb 2026.

• Cash reserves stood at A$22.4M at the end of December 2025, with no debt, providing funding for at least the next year of exploration.

• Top 20 shareholders own approximately 46% of the company, which includes major institutional investors.

• The board and management have significant experience in gold and base metal exploration.

Portfolio and exploration plans

• The Errabiddy Gold Project in the northern Yilgarn is advancing, with a 6 km soil anomaly identified and drill targets defined; drilling will commence after heritage clearance.

• The first drilling program at Errabiddy will focus on a 5.8km long gold anomaly at Olsen Well.

• Falcon is earning up to 70% of the Craton Margin Gold Project through a JV, with staged expenditure commitments.

• The team is recognized for previous world-class discoveries and is focused on aggressive exploration at both Blue Moon and Errabiddy.

• Ongoing and future drilling programs are designed to unlock the scale and potential of both projects.