FALCON METALS LTD DISCLOSURECurrent Reports (8-K / ad hoc)

$30 Million Placement Positions Falcon to Expand Drilling

Falcon Metals Limited T: +61 3 8648 6684 ASX: FAL E: [email protected] Level 6, 350 Collins St, Melbourne VIC 3000 www.falconmetals.com.au PO Box 106, Flinders Lane VIC 8009 ABN 87 651 893 097 1 ASX Announcement 28 August 2026 A$30 Million Placement Positions Falcon to Expand Drilling at Blue Moon Not for release to US wire services or distribution in the United States Key Highlights: • Placement to raise A$30 million, supported by high-quality institutions including North American, European and Australian funds • Funding underpins Falcon’s exploration ambitions across its portfolio • Multiple near-term catalysts expected, including: o Ongoing diamond drilling at Blue Moon with three rigs and the potential to mobilise additional rigs; and o Commencement of maiden Reverse-circulation (RC) drilling at Errabiddy, planned for September 2026 Falcon Metals Limited (ASX:FAL) (“Falcon” or “the Company”) advises it has received firm commitments to raise A$30 million (before costs) at an issue price of A$0.60 per share, well-supported by new and existing high-quality institutional and sophisticated investors (“Placement”). The successful Placement is a clear endorsement of the Company’s exploration portfolio, including the Blue Moon Gold Project in Victoria and the Errabiddy Gold Project in Western Australia. Following settlement of the Placement, Falcon will have strengthened its balance sheet, positioning the Company to aggressively advance the next phase of exploration drilling at the highly prospective Blue Moon Gold Project, located immediately north of the historical 22 Moz Bendigo Goldfield. The Placement will also fund the Company's maiden RC drilling programme at the Errabiddy Gold Project, located 35km to the southeast of Benz Mining’s (ASX:BNZ) Glenburgh Gold Project, providing Falcon with exposure to two highly prospective gold exploration projects. Falcon Metals Managing Director, Tim Markwell, commented: "We are delighted by the strong support received from both existing shareholders and the ‘who’s who’ of gold-focused institutional investors across Australia, North America and Europe. The strong level of demand for the Placement reflects growing recognition of the opportunities emerging across Falcon's exploration portfolio. With this raising, Falcon is now exceptionally well-funded to advance the exc