#1Falcon Metals PHAC1030- BELL POTTER UNEARTHED 2023 Pursuing major gold discoveries in Victoria 8 FEBRUARY 2023 ASX: FAL#2Important Notice and Disclaimers This presentation has been prepared by Falcon Metals Ltd ACN 651 893 097 (Company). It contains general background information only which is current at the date of this presentation unless otherwise specified. It contains selected summary information and does not purport to be all-inclusive, comprehensive or to contain all of the information that may be relevant, or which a prospective investor may require in evaluations for a possible investment in the Company. Prospective investors should not rely on the information contained in this presentation, and must satisfy themselves as to the accuracy of all such information. This presentation has been prepared based on information available at the time of preparation and is subject to change without notice. In receiving this presentation, each recipient agrees to the foregoing terms and conditions, including any modifications to them. No person is under any obligation to update this presentation at any time after its release. This presentation is provided for general information purposes only. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company in any jurisdiction. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) (Corporations Act) and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission. It should not be relied upon by the recipient in considering the merits of the Company, or the acquisition of shares in the Company. This presentation does not constitute investment or financial product advice. It is not intended to be used as the basis for making a financial decision, nor is it intended to constitute legal, tax, accounting or other advice. This presentation has been prepared without taking account of any person's individual investment objectives, financial situation or particular needs. Before making an investment decision, the recipient should consider its own financial situation, objectives and needs, and conduct its own independent investigation and assessment of the contents of this presentation, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate. Any references to or explanations of legislation, regulatory issues, benefits or any other legal commentary (if any) are indicative only, do not summarise all relevant issues and are not intended to be a full explanation of a particular matter. The information in this presentation has been obtained from and based on sources believed by the Company to be reliable. Past performance is not an indication of future performance. This presentation may contain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters that may involve risks or uncertainties and may involve significant items of subjective judgement and assumptions of future events that may or may not eventuate (Forward Statements). Forward Statements can generally be identified by the use of forward looking words such as "anticipate", "estimates", "will", "should", "could", "may", "expects", "plans", "forecast", "target" or similar expressions. Forward Statements including indications, guidance or outlook on future revenues, distributions or financial position and performance or return or growth in underlying investments are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. To the extent that certain statements contained in this presentation may constitute 'Forward Statements' or statements about forward looking matters, then the information reflects the Company's (and no other party's) intent, belief or expectations as at the date of this presentation. No independent third party has reviewed the reasonableness of any such statements or assumptions. None of the Company, their related bodies corporate and their respective officers, directors, employees, advisers, partners, affiliates and agents (together, the FAL Parties) represent or warrant that such Forward Statements will be achieved or will prove to be correct or gives any warranty, express or implied, as to the accuracy, completeness, likelihood of achievement or reasonableness of any Forward Statement contained in this presentation. Except as required by law or regulation, the Company assumes no obligation to release updates or revisions to Forward Statements to reflect any changes. Recipients should form their own views as to these matters and any assumptions on which any of the Forward Statements are based and not place reliance on such statements. All dollar values are in Australian dollars ($ or A$) unless otherwise stated. An investment in the Company's securities is subject to known and unknown risks, many of which are beyond the control of the Company, including factors and risks specific to the industry in which the Company operates as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets. The Company does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee any particular tax treatment. Prospective investors should make their own enquiries and investigations regarding all information in this presentation, including the assumptions, uncertainties and contingencies which may affect future operations of the Company and the impact that different future outcomes may have on the Company. The distribution of this presentation to persons or in jurisdictions outside Australia may be restricted by law and any person into whose possession this document comes should seek advice on and observe those restrictions. The presentation is not an offer of securities in the Company for subscription, purchase or sale in any jurisdiction outside Australia, including the United States or in relation to any US person (as defined in Regulation S under the U.S Securities Act of 1933, as amended). Any failure to comply with such restrictions may violate applicable securities law. No party other than the Company has authorised, permitted or caused the issue, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statement, representation or undertaking in this presentation and there is no statement in this presentation that is based on any statement by any other party. No person, either as a director, partner of or in the employment of the Company has any authority to make, imply, or give any representation or warranty whatsoever in relation to the information contained in this presentation. None of the FAL Parties take any responsibility for any information in this presentation or any action taken by you on the basis of such information. To the maximum extent permitted by law, the FAL Parties: . exclude and disclaim all liability, including (without limitation) any liability for fraud or negligence, for any expenses, losses, damages or costs incurred either as a result of the information in this presentation being inaccurate or incomplete in any way for any reason, or otherwise arising in connection with this presentation; and make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this presentation. Competent Person Statement The information contained within this Presentation is extracted from the following reports titled: • Falcon Metals Limited Initial Public Offering (IPO) Prospectus dated 3 November 2021 • "Diamond Drilling continues to refine the Karri Gold system" released to the ASX on 13 April 2022 • "Falcon Intersects High Grade Gold at Ironbark East (Amended)" released to the ASX on 15 July 2022 "High-grade Gold Confirmed in Assays at Viking" released to the ASX on 21 November 2022 "Pyramid Hill and Viking - Exploration Update" released to the ASX on 1 February 2023 . which are available to view on www.falconmetals.com.au The Company confirms that it is not aware of any new information or data that materially affects the information included in the original document/announcement and the Company confirms that the form and context in which the Competent Person's findings are presented have not materially modified from the original market announcement. 2#3Falcon Project Portfolio PERTH Mt Jackson Project Pyramid Hill Gold Project, VIC • The largest land position in the prospective Bendigo Zone Viking Project . Major AC drill program underway Pyramid Hill Project MELBOURNE New mineralised zone at Ironbark with assays awaited Viking Gold Project, WA Earn-in to 70% plus 100% owned tenure, 30km ESE of Norseman Viking shear to the northeast of Beaker 2 Gold Prospect key focus for next phase of exploration Mt Jackson Gold Project, WA 100% owned, underexplored part of the Southern Cross belt · Gold-in-soil anomaly defined in first phase of soil sampling • Additional soil sampling planned with AC drilling to follow 3#4Corporate Overview Top Shareholders Other 76.4% Tim Goyder 7.9% Franklin Templeton 7.1% The Goldman Sachs Group 6.6% Board 2.0% Capital Structure and Financials A$0.23 Share Price (6 Feb 2023) A$23M Cash (31 Dec 2022) 177M Shares on Issue Nil Debt 12.3M Options A$40.7M Market Cap (@ $0.23) Directors and Management • • Dr Mark Bennett Non-Executive Chairman Tim Markwell Managing Director Alex Dorsch Non-Executive Director Pradeep Subramaniam Chief Financial Officer 30+ years' experience in gold and base metal exploration Founding Managing Director of Sirius Resources, discovered Nova-Bollinger Currently the Executive Chairman of S2 Resources and Non-Executive Director of Todd River Resources 25+ years' experience in gold and base metal exploration with expertise in geology, fund management, and mining Held the role of Investment Manager of the African Lion funds at Lion Selection Group for 14 years Managing Director of Chalice since late 2018, led the company through the Julimar discovery in 2020 Diverse experience in the resources sector in a variety of management, advisory, and consultancy roles Chartered accountant with broad financial and commercial experience 15+ years' experience, including with PricewaterhouseCoopers working with Australian and international companies • Doug Winzar Exploration Manager 25 years' experience in gold, base metal and diamond exploration Held the role of Exploration Project Manager for IGO in the Kimberley Region and NT 4#5Pyramid Hill Project New mineralised zones ISC 4HF#6The Opportunity 144 S Underexplored world class, high-grade gold province beneath cover • • • 60Moz gold produced since 1850's from outcropping South Bendigo Zone, at an average grade of ~15g/t Au¹ 90% of mines had a recovered grade of >8.5g/t Au¹ 32Moz Au (P50 mid case) of undiscovered gold in the Northern Bendigo Zone (Vic Govt 'Gold Undercover¹ estimate) Falcon's project covers hundreds of kilometres of strike over the highly prospective Bendigo Zone and Castlemaine Group geology, which is the known host to all major gold deposits in the district e.g. Fosterville, Bendigo, Ballarat Falcon Metals 36°E 0 Murray River (State Border) Karri Ironbark Murray Basin Cover Stawell Zone Creswick ~2Moz 50km Ballarat ~12Moz Projection: MGA Zone 54 (GDA94) EL7200 Banksia Wandoo 144°S 00 NEW SOUTH WALES 145°S 36°E VICTORIA Murray Basin -Cover Fosterville 8.6Moz @~12g/t Au Bendigo 22Moz @-15g/t Au 1 Melbourne Zone Bendigo Zone Steiglitz Falcon Tenure (Current) Falcon Tenure (Application) Falcon Prospects Goldfield / Deposit Volcanics Cover Main Au Faults Interpreted Faults Competitor Tenure Kirkland Lake S2R Catalyst JV Newmont Providence Gold Other 1 Gold Undercover Report 2 - Assessment of undiscovered mesozonal orogenic gold endowment under cover in the northern part of the Bendigo Zone - Appendix 4, Table A41 2 All gold numbers represent historic production and can be sourced here: . 2003, Bierlein etal., A comparison of orogenic gold mineralisation in central Victoria (AUS), western South Island (NZ) and Nova Scotia (CAN): implications for variations in the endowment of Palaeozoic metamorphic terrains Agnico Eagle website - Resource and Reserve Statement and Fosterville Gold Mine, Victoria, Australia Updated NI 43-101 Technical Report - Apr 1, 2019 6#7Ironbark Prospect Diorite targets in Bendigo • Primary mineralisation at Ironbark was • discovered at Ironbark in 2019 by regional aircore drilling on a soil anomaly over magnetic highs Logging confirmed mineralisation along the contacts and within diorites • • Several analogous high-grade diorite-associated gold deposits in Eastern Victoria (Walhalla- Woods Point Goldfields) including Cohen's Reef (~1.5Moz @ 32g/t Au)¹ New exploration target as Bendigo Zone previously not known for diorite associated mineralisation Falcon Metals 5,950,000mN Granite Ironbark Inglewood Tarnagulla 5,925,000mN 750,000mE Banksia Campbelltown Fault Muckleford Fault 775,000mE Karri Murray Basin Cover L ......... Wandoo 1 2006, Vandenberg et al., Walhalla-Woods Point-Tallangallook, Special map area geological report, GeoScience Victoria, Ch 8 - Economic Geology, page 231 *00 Sebastian Tandarra 0 0 Falcon Tenure (Current) Falcon Tenure (Application) Goldfield Deposit Main Au Faults Max Gold in AC (ppm Au) 0 • > 1.0ppm Au 0.5 1.0ppm Au 0.1-0.5ppm Au 0.05 0.1ppm Au <0.05ppm Au 2km Projection: MGA Zone 54 (GDA94) Raydarra Whitelaw Fault Raywood Neilborough Tasman Reef Bendigo Zone Bendigo 22Moz @ 15g/t Au 7#8Ironbark Prospect • • . • Initial discovery - Ironbark North and South Initial focus was prominent magnetic anomalies further defined by ground magnetic surveys Primary gold mineralisation was intersected in diorites at both targets Infill aircore drilling completed along contact with 2 diamond holes at each prospect Additional diamond hole completed in 2022 intersecting: • 8.2m @ 1.7g/t Au from 301m; including 764,000mE 8.2m @ 1.7g/t Au incl. 3.6m @ 3.7g/t Au 5,9 4,000mN Ironbark North Diamond Drill Holes Current AC Drill Holes Previous AC Drill Holes AC Drill Holes (Assays Pending) Max Gold in AC (ppm Au) PHAC1070 32m @ 0.5g/t Au incl. 4m @ 3.0g/t Au 1m @ 1.6g/t Au and 1m @ 1.3g/t Au 766,000mE Ironbark Central Aeromagnetics Image EL6737 1m @ 1.1g/t Au and 1m @ 1.1g/t Au and 0.4m @ 5.9g/t Au and 0.66m @ 1.1g/t Au and 0.7m @ 1.3g/t Au 40m @ 2.8g/t Au incl. 26m @ 4.2g/t Au incl. 2m @ 15.4g/t Au and 1m @ 17.1g/t Au and 1m @ 10.1g/t Au and 1m @ 12.0g/t Au 5,964,000mN 9m @ 0.9g/t Au 29m @ 0.8g/t Au incl. 13m @ 1.5g/t Au e Ironbark East 00000000 . • > 1.0ppm Au • 3.6m @ 3.7g/t Au Aircore drilling underway within Ironbark North diorite Diamond drilling planned for March 2023 0.5 1.0ppm Au 0.1-0.5ppm Au 0.05 0.1ppm Au < 0.05ppm Au Falcon Metals Ironbark Prospects 500m 0.4m @ 2.7g/t A Projection: MGA Zone 54 (GDA94) NEW SOUTH WALES Ironbark South 06,000mE VICTORIA 8#9Ironbark Prospect • • Ironbark East discovery Ironbark East discovered in July 2021 with drilling on interpreted magnetic high partially obscured by palaeochannel • • 13m @ 1.52g/t Au from 113m (ending in mineralisation) 9m @ 0.91g/t Au from 61m Infill aircore completed July 2022 with high- grade zone intersected - 40m @ 2.8g/t Au from 50m including several 1m assays >10g/t Further infill completed January 2023: - 57 holes for 5,245m 764,000mE 8.2m @ 1.7g/t Au incl. 3.6m @ 3.7g/t Au 5,964,000mN Ironbark North Diamond Drill Holes Current AC Drill Holes Previous AC Drill Holes AC Drill Holes (Assays Pending) Max Gold in AC (ppm Au) > 1.0ppm Au 0.5 1.0ppm Au 0.1-0.5ppm Au 0.05 0.1ppm Au < 0.05ppm Au PHAC1070 32m @ 0.5g/t Au incl. 4m @ 3.0g/t Au 1m @ 1.6g/t Au and 1m @ 1.3g/t Au 766,000mE Ironbark Central Aeromagnetics Image EL6737 Im @ 1.1g/t Au and 1m @ 1.1g/t Au and 0.4m @ 5.9g/t Au and 0.66m @ 1.1g/t Au and 0.7m @ 1.3g/t Au 40m @ 2.8g/t Au incl. 26m @ 4.2g/t Au incl. 2m @ 15.4g/t Au and 1m @ 17.1g/t Au and 1m @ 10.1g/t Au and 1m @ 12.0g/t Au 5,964,000mN 0.4m @ 2.7g/t Au 9m @ 0.9g/t Au 29m @ 0.8g/t Au incl. 13m @ 1.5g/t Au e Ironbark East A 500m Projection: MGA Zone 54 (GDA94) VICTORIA NEW SOUTH WALES Results awaited Falcon Metals Ironbark Prospects Ironbark South 766,000mE 9#10Ironbark Prospect Ironbark East Cross Section Ironbark East aircore hole PHAC1030 returned: . • 40m @ 2.8 g/t Au from 50m¹; including 26m @ 4.2 g/t Au from 51m; that includes . 766300mE 766400mE 766500mE 766600mE 766700mE PHIRDD006 PHAC1009 PA953 PHAC102 PA952 PHAC1030 ○ 2m @ 15.4 g/t Au from 51m, 100mRL 44m @68ppb Au O 1m @ 17.1 g/t Au from 62m, 66m 1m @ 10.1 g/t Au from 70m and 100m OmRL 12m @209ppb Au 126m о 1m @ 12.0 g/t Au from 76m Mineralised zone included 2m quartz gravel with coarse & nuggety gold at the top (potential for smearing) • Evidence of primary gold and likely proximal source for alluvial gold -100mRL 200m 300m -200mRL 400m Diamond drill hole completed May 2022 (before receipt of assays for PHAC1030) • Diamond drilling program to be finalised once results received, expected March 2023 Falcon Metals Ironbark East Prospect Schematic Cross Section of 5,963,800N Looking North 400mRL 1 Refer ASX Announcement 15 July 2022 - Falcon Metals (ASX Code: FAL) - Falcon Intersects High Grade Gold at Ironbark East (Amended) PA951 PA955 4m @ 754ppb Au 8m @ 130ppb Au 67mm 93m 98m 99m 4m @111ppb Au 4m @112ppb Au 2m @370ppb Au 29m @0.8g/t Au incl. 13m @1.5g/t Au 1m @ 1.1g/t Au 1m @ 1.1g/t Au 0.4m @ 5.9g/t Au 0.66m @ 1.1g/t Au 0.7m @ 1.3g/t Au 40m @ 2.8g/t Au incl. 26m @ 4.2g/t Au incl. 2m @15.4g/t Au and 1m @17.1g/t Au and 1m @ 10.1g/t Au and Im @ 12.0g/t Au 483.1m Geology 100 metres Murray Basin Cover Castlemaine Group Diorite 10#11Ironbark Prospect • • • Ironbark Central High definition magnetics survey completed in November 2022 showed evidence of more diorites New primary mineralisation at Ironbark Central announced 1st February 2023 Ironbark Central: 32m @ 0.5g/t Au from 100m; including 4m @ 3.0g/t Au from 100m Infill drilling currently underway at Ironbark Central 764,000mE 8.2m @ 1.7g/t Au incl. 3.6m @ 3.7g/t Au 5,964,000mN Ironbark North Diamond Drill Holes Current AC Drill Holes Previous AC Drill Holes AC Drill Holes (Assays Pending) Max Gold in AC (ppm Au) > 1.0ppm Au 0.5 1.0ppm Au 0.1-0.5ppm Au 0.05 0.1ppm Au < 0.05ppm Au PHAC1070 32m @ 0.5g/t Au incl. 4m @ 3.0g/t Au 1m @ 1.6g/t Au and 1m @ 1.3g/tu ☐ 766,000mE Ironbark Central Aeromagnetics Image EL6737 1m @ 1.1g/t Au and 1m @ 1.1g/t Au and 0.4m @ 5.9g/t Au and 0.66m @ 1.1g/t Au and 0.7m @ 1.3g/t Au 40m @ 2.8g/t Au incl. 26m @ 4.2g/t Au incl. 2m @ 15.4g/t Au and 1m @ 17.1g/t Au and 1m @ 10.1g/t Au and 1m @ 12.0g/t Au 5,964,000mN 9m @ 0.9g/t Au 29m @ 0.8g/t Au incl. 13m @ 1.5g/t Au e Ironbark East 00000000 500m 0.4m @ 2.7g/t Au Projection: MGA Zone 54 (GDA94) NEW SOUTH WALES VICTORIA Falcon Metals Ironbark Prospects Ironbark South 766,000mE 11#12Karri Prospect Large scale prospect with significant primary gold zones intersected over 3.5km of strike • • • • • Diamond and AC drilling has identified multiple primary gold zones over 4km of strike. Gold mineralisation coincidental with strongly elevated arsenic anomalism and remains open along strike and at depth Diamond drilling has returned some exceptional results including 5m @ 14.0g/t Au from 100.9m incl. 2.2m @ 32.1g/t Au¹ Results from 2022 drilling showing strengthening of alteration and mineralisation in central Karri², 3 Review underway with plans for further infill aircore drilling to optimise drillhole location to vector in on high-grade mineralisation Falcon Metals Karri Prospect Diamond Drill Holes Reported in this Announcement Previously Reported AC Drill Holes AC Max in Hole (g/t Au) > 1.0 0.1-1.0 0.025 0.1 5,986,000mN 766,000mE 8m @ 1.1g/t Au incl. Im @ 7.3g/t Au 2m @ 6.4g/t Au incl. 1m @ 12.2g/t Au 5.1m @14.0g/t Au incl. 2.2m @ 32.1g/t Au 5m @1.1g/t Au incl. 1m @ 5.3g/t Au 13m @ 1.1g/t Au incl. 1m @ 11.9g/t Au Projection: MGA Zone 54 (GDA94) 001.000m N VICTORIA Karri Ironbark 1km 1m @ 6.2g/t Au NEW SOUTH WALES T OPEN 768,000mE EL6737 EL6661 4m @ 1.1g/t Au 11m @ 1.0g/t Au 1m @ 1.7g/t Au and 9m @ 1.3g/t Au incl. 4.8m @ 2.2g/t Au and 1m @1.1g/t Au and 1m @ 1.2g/t Au SECTION 5985450MN 2m @ 3.3g/t Au 8m @ 1.0g/t Au 5,984,000mN SECTION 5983950мN 2m @2.4g/t Au incl. 1m @4.6g/t Au 1 Refer Falcon Prospectus dated 3 November 2021 2 Refer ASX Announcement 13 April 2022 - Falcon Metals (ASX Code: FAL) - Diamond drilling continues to refine the Karri gold system 3 Refer ASX Announcement 15 July 2022 - Falcon Metals (ASX Code: FAL) - Falcon Intersects High Grade Gold at Ironbark East (Amended) E 768,000mE 12#13Wandoo - high priority target for aircore drilling Benchmarking of first pass aircore results • KARRI - Jan 2019 • 20 holes drilled • 3 holes >25ppb • 1 hole 100ppb KARRI PROSPECT 100mRL PA084 PA085 PA086 PA087 PA088 OMRI 73m 76m 75m . WANDOO - Jan 2021 • • 24 holes drilled 15 holes >25ppb Depth -10UMKL PA775 • 8 holes >100ppb 100mR Hole ID Drill Hole 54m 15 70m 82m 766500mE PA089 Interval (g x m Au) > 1 Significant Intersection (g xm Au) 0.5 1 < 0.5 WANDOO PROSPECT PA774 PA773 103m PA772 PA771 135m 135m 115m 774000mE PA090 PA091 103m 767000mE 90m PA092 PA093 116m 138m Karri Trend PA770 PA769 PA768 PA767 774500mE PA766 PA763 135m 125m 95m 105m 111m 108m 767500mE PA094 105m PA095 PA096 122m 105m 775000mE Murray Basin Cover Castlemaine Group 768000mE PA098 50 Metres (4x Exaggeration) Vertical Scale PA762 135m J 775500mE PA097 768500mE 100mRL Murray Basin Cover Castlemaine Group 500 Metres Horizonal Scale PA761 135m PA760 135m 200mRL 100mRL 13 OmRL#14Next Steps - Targeted Drilling & Pipeline Generation NEW SOUTH WALES Falcon Metals Murray River (State Border) VICTORIA Exploration focused on finding major deposits . Infill drilling: • Ironbark · Karri • Wandoo • Banksia 00 Falcon Tenure (Current) Falcon Tenure (Applications) Other Tenements AC Drill Target Areas Falcon Prospects Goldfield/Deposit AC drilling Diamond drilling Main Au Faults Interpreted Faults 744°E • Regional Exploration - Two-pronged regional exploration plan developed for areas within the Bendigo Zone: • Castlemaine Group Stratigraphy Soil Sampling outcropping to ~20m cover - Reconnaissance AC drilling- ~20-120m cover Diorite-hosted Diorite intrusions will be identified using aeromagnetic surveying and subsequently screened with AC drilling Murray Basin Cover Ironbark Maldon 1.75Moz @~28g/t Au Stawell Zone 0 50km Projection: MGA Zone 54 (GDA94) Karri Victoria VICTORIA Banksia Bendigo Fosterville 8.6Moz @ 12g/t Au 22Moz @15g/t Au Wandoo Castlemaine ~6Moz Bendigo Zone Melbourne Zone 37°S Campbelltown Fault 14#15WA Projects#16Viking Project Advanced gold project near Norseman • Located 30km ESE of Norseman within the high-grade metamorphic Albany-Fraser province • • • AngloGold discovery in 2011 – numerous 121°30N Neptune Hamlet 31°30W Widgiemooltha Paris shallow high-grade intercepts in oxide zone with limited follow-up¹ Falcon recently earned a 51% interest in E63/1963 (held by Metal Hawk Limited) and can earn a further 19% to 70% by spending a further $1.75m E63/1994 100% Falcon (application) 32°00W 1 Refer Falcon Prospectus dated 3 November 2021 32°30W Higginsville Baloo Coolgardie Esperance Highway Eyre Highway Norseman Central Norseman 122°30N Falcon Metals Viking Project JV 0 Falcon Tenure (Current) Falcon Tenure (Applications) Mines Gold Occurence Lithium Occurence Base Metal Occurence Greenstones Sediments Northern Foreland Fraser Range Metamorphics Biranup Zone Yilgarn Craton Granites Major Faults Faults Interpreted Faults Highways Railway Westem Australia © E63/1994 VIKING GOLD PROJECT E63/1963 Beaker 2 Scotia Beaker 1 121 30N 122°00N 122°30N 25km 16#17Viking Project New exploration target zone to the northeast . Shear zone to northeast of Beaker 2 - • • Falcon Tenure (Current) Falcon Tenure (Applications) Falcon Prospect a new target zone Previous exploration ineffective due to increased depth of cover Likely to continue into Falcon 100% owned application (E63/1994) Opens up potential 10km strike length Fault Shear Zone along the Viking Shear Zone 6,420,000mN Beaker 4 410,000mE 420,000mE Beaker 3 410,000m E Viking Fault VIKING GOLD PROJECT Shear Zone Viking S Beaker 2 Beaker 1 E63/1963 420,000mE Falcon Metals Viking Project JV 0 5km Projection: MGA Zone 51 (GDA94) E63/1994 6,420,000mN 17#18Mt Jackson Project Untested greenstone with surface gold and pathfinder geochemical response • 100% owned, underexplored northern end of • the Southern Cross greenstone belt where it converges with the regional Koolyanobbing Shear Zone Southern Cross Greenstone Belt has a long high-grade mining history and hosts multiple significant orogenic gold deposits, including Marvel Loch (>2.1 Moz) ¹ and Yilgarn Star (>1.1 Moz) 2 • Coincidental gold-arsenic-antimony soil 6,670,000 mN 6,660,000 mN anomaly overlying the northern extents of a >5km long aeromagnetic anomaly, interpreted to be mafic/ultramafic due to its elevated Chrome response Auger Au (ppb) Soil Point >10 >7 >5 • Infill soil sampling planned to refine targets for >4 AC drilling expected in 2023/2024 >3 690,000 mE Southern Cross Greenstone Belt Koolyanobbing Shear Zone Mount Jackson Mt Jackson Perth 5 km GDA94 Zone 51 12003 Nugus and Dominy. Practical Applications of Geology in the Grade Control Process at the Marvel Loch Gold Mine, Southern Cross, Western Australia. 5th International Mine Geologists Conference 2 2001 Witt, Drabbie & Bodycoat. 4th International Archaean Symposium - Yilgarn Star gold deposit, Southern Cross greenstone belt, Western Australia: geological setting and characteristics of an amphibolite-facies orogenic gold deposit. 18#192023 PROJECT TIMELINE Pyramid Hill Viking Mt Jackson Falcon Metals Q1 Q2 Q3 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT Q4 NOV DEC Aircore drilling - Ironbark, Wandoo & regional Diamond drilling Project review, heritage survey and land access Phase 1 Soil Sampling Soil sampling, land access & review Phase 2 Soil Sampling Drilling recommences Exploration Timeline for 2023 • Major aircore drilling program underway at Pyramid Hill to May 2023 with ongoing announcements of results, diamond drilling to commence March 2023 at Ironbark Active work program in WA planned from April 2023 (details to be confirmed) • Fully funded work program with the flexibility to further ramp up activity on positive results.#20Investment Highlights Highly decorated team with a history of 'company making' discoveries (Julimar, Nova-Bollinger, Thunderbox, Waterloo) >5,000km² holding in one of the world's most exciting high-grade gold regions Major drilling program underway at Pyramid Hill - new mineralisation already announced for Ironbark Active work program planned for WA Strong balance sheet - a unique platform to make a significant gold discovery#21Falcon Metals GMP Falcon Metals Limited ASX: FAL Suite 6, Level 6, 350 Collins St, Melbourne VIC 3000 PO Box 106 Flinders Lane VIC 8009 T: +61 3 8648 6684 E: [email protected] www.falconmetals.com.au Investor Relations Victoria Humphries E: [email protected]