Falco Resources Ltd. ("Falco" or the "Company") (TSX VENTURE: FPC) is pleased to provide the following update on exploration and corporate activities in the first quarter.

Horne 5 Confirmation Drilling Update

Drilling has been completed on two initial holes and one wedge on the Horne 5 deposit. Holes H5-15-01 and H5-15-02 were drilled to respective depths of 1,269 meters and 1,212 meters. Wedge H5-15-01A was completed from 986 meters to 1,196 meters. H5-15-01 has been logged (core recovery was 100%) and target zones have been intercepted. Sampling was completed on H5-15-01 and assay results are pending. Additional planned holes will range between 1,000 metres and 2,250 metres in length, with the deepest drill hole in the current program targeting a projected high-grade gold zone at depth. Drilling is currently ongoing, with the current program planned to continue until September 2015.

As previously disclosed, samples for metallurgical testing will be collected from the full extent of the known deposit using existing and planned drill holes. Metallurgical test work to optimize metal recoveries, and to determine geotechnical and hydrology information is required for project design. All studies are being completed in tandem with the drill program, laying the groundwork for an upcoming preliminary economic assessment. Initial results from the metallurgical work are anticipated this coming summer.

Upon completion of the confirmation drill program and receipt of all metallurgical studies, the Company intends to commission a new NI 43-101 technical report, which it expects to be completed by the end of the year.

Project Office Established in Rouyn-Noranda

Falco is pleased to announce the establishment of a new project office in Rouyn-Noranda. Luc Lessard, President and Chief Executive Officer of the Company commented: "Rouyn-Noranda offers an abundance of reliable and experienced service providers that will allow the Company to efficiently further the development of the Horne 5 Project. We enjoy a good relationship with our community, and we expect this move will also facilitate communication with all stakeholders, and enhance the viability of our project."

Executive Office Moves to Montreal

Falco is also relocating its executive office to Montréal. The relocation reflects Falco's focus on the successful development of its Québec based Horne 5 project.

Luc Lessard commented: "We believe Montreal offers the best platform for Falco to expand the development team. We are proud to contribute and benefit from Montreal's leadership role in the Canadian mining industry."

Vincent Metcalfe appointed Chief Financial Officer

Falco is also pleased to announce the appointment of Mr. Vincent Metcalfe as Chief Financial Officer of the Company.

Mr. Metcalfe is a graduate of HEC Montreal (BAA, Finance). Prior to joining Falco, he spent the past nine years assisting mining companies in investment banking at BMO Capital Markets in Toronto before moving to Desjardins Capital Markets, where he was most recently a Director in the Montreal office.

Mr. Jim Davidson has concurrently resigned as Falco's Chief Financial Officer. The Board of Directors wishes to thank Mr. Davidson for his significant contribution to the Company. Mr. Davidson will continue to serve on the Board of Directors.