Falcon Metals (FAL) investor relations material

Executive summary

• Significant exploration progress at Blue Moon Gold Project, confirming over 850m of high-grade mineralised strike across five zones, with three diamond rigs operating continuously and approvals underway for further drilling on parallel reef lines.

• Maiden 6,000m RC drilling program commenced at Errabiddy Gold Project, targeting a 5.8km gold anomaly, supported by a WA Government co-funding grant.

• Strong financial position with $15.4 million cash at year-end and a $30 million placement completed in August 2026 to fund expanded exploration.

Financial highlights

• Net loss for the year was $13.3 million, up from $4.9 million in 2025, driven by increased exploration and evaluation expenditure of $11.3 million (2025: $3.3 million).

• Interest income rose to $783,778 (2025: $451,435) due to higher cash balances.

• Share-based payment expense increased to $1.57 million (2025: $0.42 million) due to more options issued and higher valuations.

• Net assets at 30 June 2026 were $14.8 million (2025: $7.7 million), with cash and cash equivalents of $15.4 million.

• Net cash outflow from operating activities was $11.3 million (2025: $3.9 million), mainly for exploration.

Outlook and guidance

• Ongoing and expanded drilling at Blue Moon and Errabiddy, with additional approvals and funding secured.

• Continued focus on exploration activities and assessment of new opportunities.