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KPMG Study Finds Falco’s Horne 5 Project Is Projected to Contribute $8.8 Billion to Québec GDP
MONTRÉAL, Sept. 29, 2026 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) (“Falco” or the “Corporation”) is pleased to announce the results of a third-party Socioeconomic Impact Study (the “Report”) conducted by KPMG LLP (“KPMG”) for the Corporation’s Horne 5 Project located in Rouyn-Noranda, Québec, Canada (the “Horne 5 Project” or the “Project”). The Report outlines the significant economic and labour opportunities of the Horne 5 Project, based on the Project’s updated feasibility study report filed on July 27, 2026, under the Corporation’s profile on SEDAR+ at www.sedarplus.ca (the “2026 Feasibility Study”).
The Report confirms that over the Project’s anticipated lifespan, its direct and indirect contribution to Gross Domestic Product (“GDP”) within the Québec economy at the provincial level is currently estimated at $8.8 billion. The complete Report is available on the Corporation’s website at www.falcores.com (in French only).
Luc Lessard, Falco’s President and CEO, stated: “KPMG’s analysis demonstrates the scale of Horne 5’s potential economic contribution to Québec, and particularly Abitibi-Témiscamingue. With an estimated $8.8 billion contribution to the Québec GDP, more than 22,800 direct and indirect jobs in person-years and approximately $5.1 billion in municipal, provincial and federal tax revenues over the Project’s life, Horne 5 has the potential to generate substantial and lasting economic benefits. Importantly, KPMG estimates that 82% of the value added generated in Québec would accrue to Abitibi-Témiscamingue, reinforcing the Project’s significance to the region.”
Key Highlights from KPMG’s Report (figures and timelines are estimates)
KPMG’s analysis considers approximately $12.1 billion of Project expenditures over 15 years, including pre-production investments, recurring operating costs, and site maintenance and reclamation expenses.
Economic Impact of the Horne 5 Project
Pre-Production & Construction Phase (4 Years)
Provincial Impact (Québec): $914.4 million in GDP ($228.6 million per year), 4,318 jobs in person-years and $59.4 million in provincial tax revenue.
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Regional Impact (Abitibi-Témiscamingue): $644.6 million in GDP ($161.1 million per year), 2,075 jobs in person-years, and $3.5 million in local tax revenue.
$32.7 million in federal tax revenue.
Operational and Closure Phases (15 Years)
Provincial Impact: $7.9 billion in GDP ($524.5 million per year), 18,485 jobs in person-years, and $3.5 billion in provincial tax revenue ($233.6 million per year).
Regional Impact: $6.5 billion in GDP ($435.8 million per year),11,808 jobs in person-years, and $37.5 million in local tax revenue.
$1.4 billion in federal tax revenue ($95.6 million per year).
Overall, 82% of the direct and indirect added value generated by the Project is expected to accrue to the Abitibi-Témiscamingue region, which is expected to retain 61% of the jobs supported by the Project.
Additional Highlights from KPMG’s Report
Workforce Development: The Horne 5 Project will support workforce training and skills development, with a focus on trades and technical roles.
Local Community: Significant employment and business opportunities, in addition to infrastructure improvements.
Environmental Sustainability: Falco is committed to minimizing the Project’s environmental footprint through the use of modern technologies, responsible water and tailings management, and the reuse of existing mining infrastructure wherever practicable.
Supply Chain and Export Potential: The Project will strengthen provincial supply chain for critical minerals.
Government Alignment: The Project supports Québec and Canada’s strategic priorities for critical minerals and responsible resource development, while contributing to domestic mineral supply and long-term economic growth.
About Falco
Falco is one of the largest mineral claim holders in the province of Québec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 60,000 hectares of land in the Noranda Camp, which includes 13 former gold and base metal mine sites. Falco’s main asset is the Horne 5 Project located beneath the former 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. Osisko Gold Group Inc. is Falco’s largest shareholder, with a 16.0% interest in the Corporation.
For further information, please contact:
Luc Lessard President and Chief Executive Officer and Director 514-261-3336 info@falcores.com
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.
This press release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: “believe”, “envisions”, “estimates”, “assumes”, “evaluates”, “inferred”, “probability”, “planned”, “projected”, “ensure” “anticipates”, “contemplated”, “expected”, “anticipate” and similar expressions, or that events or conditions “would”, “will”, “can”, or may” occur. All statements that are not statements of historical fact are forward-looking statements.
Forward-looking statements in this press release include, without limitation, statements regarding the projections and assumptions of the Report, including, without limitation: expected direct and indirect Québec and regional GDP contribution from the Project; expected federal, provincial and local tax revenue; and economic assumptions and sensitivities and other operational and economic projections with respect to the Horne 5 Project as well as benefits of the Project for the community.
Although the Corporation believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.
The forward-looking statements contained herein is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the effects of general economic conditions; changing foreign exchange rates; risks associated with exploration and project development; the calculation of mineral resources and reserves; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work arising from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Corporation’s properties; risk of accidents, equipment breakdowns and labour disputes; access to project funding or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; title matters; government regulation; obtaining and receiving necessary licenses; the risk of environmental contamination or damage resulting from Falco’s operations, the risk that the conditions precedent to the ability to conduct dewatering or mining activities under the operating license and indemnity agreement (“OLIA”) dated January 23, 2024 between Falco and Glencore Canada Corporation (“Glencore”) may not be satisfied; the risk that Falco may not obtain the required financial assurances to be provided to Glencore, or the financing required to develop or operate the Horne 5 Project; the risk that the required permits and authorizations required from governmental authorities to develop and operate the Horne 5 Project may not be obtained on the terms contemplated or at all; the risk that the OLIA may be terminated in accordance with its terms in the event of default or certain other triggers relating to delays in the commencement of dewatering or mining activities; the risk that, once commenced, certain operations of the Horne 5 Project may have to be suspended, altered or modified pursuant to the conditions of the OLIA; the risk that Glencore may require modifications to Falco’s operations at the Horne 5 Project pursuant to the OLIA which would render the operations less profitable or not profitable (compared to expectations included in the 2026 Feasibility Study); the risk that Falco may incur significant losses and other obligations under its indemnities in favour of Glencore contemplated in the OLIA; and other risks and uncertainties including those described in the Corporation’s Management’s Discussion & Analysis for the three-month and nine-month period ended March 31, 2026, dated May 20, 2026 available at www.sedarplus.ca.
The forward-looking statements contained in this news release are based on the beliefs, estimates and opinions of Falco’s management on the date the statements are made. Although Falco has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
