VANCOUVER, British Columbia, May 17, 2006 (PRIMEZONE) -- Falcon Energy, Inc. (Pink Sheets:FCYI) is pleased to announce that the granting of exploration licenses for five mining properties in Mongolia has been finalized. 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.
Falcon Energy, Inc. had recently sought the mineral rights to these significant properties in the mineral rich region of Mongolia. 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.
The five licensed areas are:
8825E - The Duhum Hujirt License Area 8454X - Tsagaan Tolgoi Copper/Gold Project 9997X - The Huld License Area 9996X - The Har Tolgoi License Area 9668X - Hutagt License Area (see detailed maps at www.falconenergyco.com)
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.
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.