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Falcon Energy, Inc. Announces 100% Acquirement of Mongolian Mineral Exploration Licenses
Friday June 9, 4:00 pm ET
5VANCOUVER, British Columbia--(BUSINESS WIRE)--June 9, 2006--Falcon Energy, Inc. (Pink Sheets:FCYI - News) is pleased to announce that it has fully acquired the exploration licenses for five mining properties in the mineral rich region of Mongolia. Management felt that the opportunity presented by these properties was significant enough to forgo a planned participation by a second resource company. These licenses will be held for a minimum of three years and grant Falcon Energy Inc. access to the mineral rights for the licensed properties.
Mongolia has a wide variety of mineral resources. As of 1998, about 88% of the country had been geologically mapped but only 20% of the country's landmass had been licensed for exploration and exploitation.
Falcon Energy's interest in the region is driven in part by the anticipation of deploying modern prospecting methods to an area that abounds in both base and precious metals. Exploitable mineral resources found in the area in which the licenses are held include: Gold, base metals such as Copper, Molybdenum, Lead and Zinc as well as Fluorite and Uranium.