Falcon Gold Corp. announced the completion of the Phase 1 diamond drilling program on the Burton Gold Property. A total of 1,528 metres of diamond drilling was completed in 13 short holes designed to test targets derived from Induced Polarization (IP) and soil geochemistry surveys completed during the summer, 2012.

Assay results from the drilling program are pending and will be released when available. The 100% owned Burton Gold Property is subject to an earn-in option agreement with Trelawney Mining and Exploration Inc. an indirect wholly owned subsidiary of IAMGOLD Corporation (IAMGOLD). Pursuant to the terms of the agreement, IAMGOLD may earn a 51% interest in the Burton Gold Property by completing $600,000 in exploration expenditures and paying $150,000 in cash on or before February 16, 2013 (Phase 1 of the Option Agreement).

IAMGOLD may earn an additional 24% interest in the Property by incurring an additional $600,000 in exploration expenditures on the property on or before February 16, 2014 (Phase 2). Upon the completion of the assaying in progress, IAMGOLD will have fulfilled the Phase 1 terms of the agreement and earned a 51% interest in the property.