Falcon Energy, Inc. (FCYI)

Date: May 28, 2006 7:43 AM
Subject: New Penny Stock Idea For You

For Immediate Release
ALERT ISSUED - Watch FCYI.PK !

Falcon Energy, Inc.
F C Y I
1 week ago $ 0.88
Today $ 1.91
Up from $ 1.60 Wend
5 Day Expected $ 2.90
Market Plus Top Four Pick

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VANCOUVER, British Columbia, May 26, 2006 (PRIMEZONE) -- Falcon
Energy, Inc. is pleased to announce that it will be initiating a
detailed study for two of the properties for which it holds
exploration licenses in Mongolia. The studies will be in preparation
for a work program on the properties. Falcon Energy Inc. will seek to
engage a geological team to study its properties and make
recommendations for the commencement of a work program. Both
properties hold great promise for the discovery of significant
deposits of Uranium.

The first property is the Huld License Area (license 9997X)

The Huld license area is located on the territory of Dashbalbar soum
of Dornot province. This property is situated 650 km NE of Ulaanbaatar
and 170 km North of Choibalsan /province center/ and 50 km NE of the
significant Mardai Uranium deposit. Production of Uranium ore from the
Mardai deposit has ranged up to 195 tons annually.

The second property is the Har Tolgoi License Area (license 9996X)

The license area is located at the joint part of Tuvshinshiree,
Monhhaan and Uubayan soums of Suhbaatar province. The Har Tolgoi
license area comprises a total of 12,319 hectares.

With the current bull market for Uranium, a number of companies are
currently very active in Uranium exploration. The Western Prospector's
team is focused on the a uranium project located in North-Eastern
Mongolia with the 2006 exploration program, budgeted at US$16 million.
UGL Enterprises also has holdings and great interest in the area.

Current major Uranium discoveries in Mongolia include the Dornod
Deposit which has 40,128,000 pounds grading 0.118%, 31,664,000 pounds
grading 0.177% and 26,349,000 pounds grading 0.236% and the
Gurvanbulag project (Western Prospector) which has a reported resource
of 22,679,160 pounds grading 0.245% and an additional 19,183,616
pounds grading 0.135% (source: National Bank report February 25,
2005).

Despite uranium spot prices in 2000 that touched lows of less than
US$7.00 per pound for U3O8, the spot price has since increased to over
US$37.00 per pound (January 30, 2006), and the long term Uranium
market outlook remains positive with increased consumption, and future
downtrend of secondary uranium sources.

Uranium Deposits in Mongolia

Soviet and Mongolian geologists began exploring for uranium in
Mongolia in the 1940s. From 1967 to 1988 more systematic exploration
for uranium was undertaken, and four major uranium deposits were
defined in Mongolia, the Priargun, Gobi-Tamtsag, Khentii-Daur, and
Northern Mongolian uranium provinces. Uranium deposits of economic
value were discovered in the Dornod, Gurvanbulag, and Mardai areas of
eastern Mongolia and the Kharaat area of southern Mongolia. The proven
Uranium resources of Mongolia in these deposits are about 62,000
metric tons,