FG Falcon Gold Corp

Falcon Gold Corp. (TSX VENTURE:FG), ("Falcon" or the "Company") is pleased to
announce the completion of the Phase 1 diamond drilling program on the Burton
Gold Property. A total of 1,528 metres of diamond drilling was completed in 13
short holes designed to test targets derived from Induced Polarization (IP) and
soil geochemistry surveys completed during the summer, 2012. Assay results from
the drilling program are pending and will be released when available.


The 100% owned Burton Gold Property is subject to an earn-in option agreement
with Trelawney Mining and Exploration Inc. an indirect wholly owned subsidiary
of IAMGOLD Corporation (IAMGOLD).


Pursuant to the terms of the agreement, IAMGOLD may earn a 51% interest in the
Burton Gold Property by completing $600,000 in exploration expenditures and
paying $150,000 in cash on or before February 16, 2013 (Phase 1 of the Option
Agreement). IAMGOLD may earn an additional 24% interest in the Property by
incurring an additional $600,000 in exploration expenditures on the property on
or before February 16, 2014 (Phase 2). Upon the completion of the assaying in
progress, IAMGOLD will have fulfilled the Phase 1 terms of the agreement and
earned a 51% interest in the property.


About The Burton Property

The Burton Gold Property is located in the Swayze Greenstone Belt, Northeastern
Ontario, approximately 150 kilometres (km) south of Timmins and 180 km north of
Sudbury. The property is well-positioned in a very actively explored district.
The Burton Property is approximately 38 kms northwest of the IAMGOLD Cote Gold
Deposit which has an indicated resource of 131 million tonnes at an average
grade of 0.84 grams per tonne ("g/t") (3.56 million ounces gold) and an inferred
resource of 165 million tonnes at an average grade of 0.88 g/t (4.66 million
ounces gold)(1). The Property is also located approximately 10 km northwest of
the past producing Jerome Gold Mine which produced 56,878 ounces gold from 1941
to 1943 (303,966 tonnes@ 6.72g/t)(2).


Historical diamond drill intercepts at the Burton Property include 9.34 g/t over
an intersection length of 7.75 metres ("m") at the Shaft Zone and 12.47 g/t over
an intersection length of 3.13 m at the East Zone. Diamond drilling completed by
Falcon Gold during 2011 included 3.74 g/t Au over an intersection length of 9.96
m (including 10.98 g/t Au over 2.17 m) and 3.25 g/t Au over an intersection
length of 10.35 m (including 5.65 g/t Au over 2.85 m) at the Shaft Zone (Press
Releases of July 27/2011 and September 12/2011.)


The Burton Gold Property is road accessible and consists of 6 patented mining
claims and 16 unpatented mining claims encompassing 22 claim units (356
hectares) located in Esther Township, Porcupine Mining Division, Ontario.




1 - Data from IAMGOLD Corporation press release dated October 4, 2012       
                                                                            
2 - Data from Ontario Ministry of Northern Development and Mines, 1988      



Qualified Person and NI 43-101 Disclosure

Jamie Lavigne, P.Geo. President and CEO of Falcon Gold is the Qualified Person,
as defined in National Instrument 43-101, who has reviewed and approved this
press release and is responsible for the technical information reported herein.


About Falcon Gold Corp.

Falcon Gold Corp. is a Canadian mineral exploration company focused on
generating, acquiring, and exploring mining opportunities in the Americas.


On Behalf of the Board of Directors

FALCON GOLD CORP.

Jamie Lavigne, P.Geo, President, CEO and Director

This news release may contain forward looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, native issues, etc.
Forward looking statements address future events and conditions and therefor,
involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Falcon Gold Corp.
Jamie Lavigne
President, CEO and Director
Sudbury Office: 705-524-3777
jamie.lavigne@falcongold.ca
www.falcongold.ca

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