Freeman Gold Corp.

Freeman Gold is strategically located in Idaho with its flagship
Lemhi Gold Property

VANCOUVER, BRITISH COLUMBIA – October 16, 2024 – Freeman Gold Corp. (TSX-V: FMAN) (“Freeman”or the“Company”) is pleased to announce that it...

The Project

Lemhi Gold

Idaho, USA

Lemhi Gold is located in Idaho, one of the top ranked gold mining jurisdictions in the world.

Investment Highlights

    • Maiden Preliminary Economic Assessment (“PEA”) complete with after-tax NPV(5%) of US$212.4 million and IRR of 22.8% using a base case gold price of US$1,750/oz

          • After-tax NPV (5%) of US$ 349 million and IRR of 32.1% using gold price of 2,050 US$/oz
          • LOM cash costs US$812/oz Au and all-in sustaining cash costs (“AISC”) of
US$960/oz Au
          • Average annual gold production of 80,390 oz Au in the first 8 years of production
          • LOM payable output of 854,090 oz Au

    • Updated NI43-101 compliant mineral resource estimate (April 10, 2023) defining high grade, oxide, near surface gold deposit. Phase 2 2022 drill program completed >13,000 meters of fill and expansion drilling over 57 holes; successfully increased resource by >22% maintaining >1 g/t average grade:

          • 988,100 oz Au at 1.00 g /t Measured & Indicated
          • 234,700 oz Au at 1.01g / t Inferred
    • Deposit remains open to the north and south within a large, prospective untested land package
    • 100% Owned Advanced Project located in Idaho (USA), a top ranked mining jurisdiction

    • Permitting advantage: open pit, leachable resource primarily on privately owned patented ground

    • Awarded water rights for both mining and domestic us

    • Top tier management team with impressive track record of success in the mining industry

       

Management and Directors

A focused team with core expertise and decades of experience in mining and resources leads Freeman Gold.

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