Marvel Discovery Corp. and Falcon Gold Corp. announced the companies have received assay results from the late spring, early summer 2023 exploration program conducted over the Kraken project located in Southern Newfoundland.

The project covers the central portion of the Golden Brook Property and is located approximately 150 kilometers south of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including: Gold-Silver-Copper-Lead-Arsenic anomaly; Multiple Tungsten and Molybdenite anomalies; Multiple Critical and Rare Element anomalies including Beryllium, Cerium, Lanthanum, Lithium, Niobium, Tantalum, Vanadium and Zirconium. Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Kraken-area project, as part of the company's Second Quarter 2023 Reconnaissance Program.

The primary objective of the Kraken exploration program was to investigate the gold and lithium potential of the property through initial prospecting over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Marvel JV Partner, Falcon Gold. The comprehensive review identified multiple areas deemed prospective in the central part of the Golden Brook Property. A total of 178 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis, and 4 Element ICP-OES analysis that includes Li, Nb, Sn and Ta.

Sample collection included float, chip and grab samples from locations deemed of interest by the in-field personnel. Preliminary results from the Kraken project have identified anomalous results for multiple critical and rare earth metals, and the highlights from this sampling include the following: 16.9% of results deemed anomalous for Lithium, with higher Lithium returning 143ppm; 5.6% of results deemed anomalous for Lanthanum, with higher Lanthanum returning 84ppm; 9.0% of results deemed anomalous for Cerium, with higher Cerium returning 162ppm; 33.1% of results deemed anomalous for Tantalum, with higher Tantalum returning 29ppm; 33.1% of results deemed anomalous for Niobium, with higher Niobium returning 110ppm; 74.2% of results deemed anomalous for Beryllium, with higher Beryllium returning 83ppm; Multiple sample stations returned anomalous Zirconium (up to 442ppm Zr), Vanadium (up to 165ppm V), Barium (up to 2706ppm Ba), Tungsten (up to 581ppm W), Molybdenite (up to 100ppm Mo) and Bismuth (over limit >1,000ppm Bi); Silver-Gold-Copper-Lead-Arsenic anomaly with up to 49.6ppm Silver, 17ppb Gold, 1,556ppm Copper, 1,497ppm Lead and 325ppm Arsenic.