Falcon Minerals Ltd

WINDANNING HILL JOINT VENTURE – Western Australia

Gold, Iron Ore

Falcon 21.5% diluting, Monarch Gold Mining Company 78.5%

The Windaning Hill project is located 31 kms from the Minjar Gold Project within the Yalgoo-Singleton greenstone belt of Western Australia which contains the world class Golden Grove Zn-Cu-Ag-Au deposits and the 1.6 million ounce Mt Gibson gold project.

Gindalbie Metals Limited commenced gold production at Minjar in December 2001 and produced 122,630 ounces of gold at an average grade of 2.64g/t from open pits on nine separate deposits, and 105,909 ounces of silver.

The Windanning Hill JV is considered prospective for gold, iron ore, tungsten-molybdenum and base metals. Known deposits in the belt include shear zone-hosted gold, banded iron, volcanogenic base metal sulphides and tungsten-molybdenum-gold skams.

The Windanning Hill project currently contains the following resources at the Keronima gold deposits:-

Inferred Resources: 156,000 tonnes @2.2g/t gold (11,100 ounces)
Indicated Resources: 125,000 tonnes @2.2g/t gold (8,800 ounces)
Total Resources: 285,000 tonnes @2.2g/t gold (19,900 ounces)

In 2008 the iron ore rights relating to Monarch's equity in the project were acquired by Gindalbie Metals Limited. As a consequence, Falcon retains its equity in two separate joint ventures each with Monarch and Gindalbie.

NEW PROJECT GENERATION

Strategy

Falcon Minerals’ project generation strategy employs robust mineral system exploration models together with proven analytical and geophysical techniques to identify those areas with the highest probability of exploration success.

Falcon adopts a rigorous targeted approach exploring for:

High-value deposit styles including Iron Oxide-Copper-Gold (IOCG) and Magmatic Nickel Sulphide deposits with potential for large, high-grade copper and/or gold, nickel or uranium systems that can be profitably mined from an open-pit and/or underground operation, in;

Under-explored (covered) portions of highly-prospective Proterozoic geological terrains in Australia such as the Gawler Craton (South Australia), and the Mount Isa Block (Queensland), in addition to the Eastern Goldfields Province (West Australia), all of which host world class deposits.

Falcon Minerals has developed exploration models for the formation of IOCG deposits in the Mt Isa Inlier and the Gawler Craton following a detailed review of the main deposits in each region.

Critical ore-forming components have been identified for each ore system and a series of datasets have been produced to represent “proxies” for key ore-forming controls. High-level geophysical processing has been conducted to highlight major geophysical gradients (structures) and to detect coincident radially-symmetric magnetic and/or dense gravity bodies that could represent major IOCG alteration footprints.

Regional targeting for Iron Oxide-Copper-Gold systems has been completed for the Gawler Craton and Mt Isa Inlier using fully- integrated geophysical, geochemical and geological datasets to identify key controls on major mineralising systems. High priority targets have been delineated and are being used to identify new project opportunities.