** The above represents Freeman Gold’s capital structure as at March 30, 2022.
PFIC Annual Statement
Maiden NI43-101 compliant mineral resource estimate (July 8th, 2021) defining high grade,
oxide, near surface gold deposit open in all directions:
➢ 749,800 oz Au at 1 .02g / t in Indicated category
➢ 250,300 oz Au at 1 .01g/ t in Inferred category
100% Owned Advanced Project: over 107,000 metres of drilling, including 2020 7,000 metre
resource classification drill program and 2022 Phase 2 drilling of 12,889 metres completed to
Shallow high-grade oxide gold mineralization intersected: 14g / t Au over 10 metres, 3.4 g / t
Au over 51.6 metres, and 1.1g / t Au over 189.1 metres
Permitting advantage: open pit, leachable resource primarily on privately owned patented ground
➢ Awarded water rights for both mining and domestic use
Initial metallurgical testing indicates excellent gold recoveries between 95% and 98% using
traditional CIL/CIP with gravity circuit
Top tier management team with impressive track record of success in the mining industry
Well funded ($12.4 million cash position) for fast-track development of the Lemhi Project,
including ongoing 15,000m drill program
- From asset purchases, to M&A, to strategically entering the state, it is clear that Idaho is one of the most sought after gold mining jurisdictions.
- The peer comparables demonstrate that there is a premium for a US based gold company with 1.5-2m oz.
- Highly experienced management team.
- The majority of historical drilling was done via RC, many holes ended in mineralization.
PHASE 1 COMPLETE
- 7,149m of oriented diamond drilling designed to upgrade historic resource estimate with initial twin and infill drilling within the main zone completed in 2020
- Maiden NI43-101 compliant resource completed July 2021
- Extensive historical data compiled and integrated to database
- Metallurgical testing program nearing completion, using 2012 and 2020 drill core
- Regional ground exploration program completed, generating 11 high quality targets, many of which are newly discovered areas.
PHASE 2 TO FOLLOW
- Second phase of drilling will commence targeting brownfields intercepts on strike and at depth
- This round of drilling will focus on areas outside of the initial resource already identified by historical drilling
- Target is to increase the maiden compliant resource to 1.5M-2M oz of contained gold
FAST TRACK TO PRODUCTION; THE LEMHI ADVANTAGE
- Over 90% of known mineralization located within patented claims, offering a distinct permitting advantage
- Studies and work completed by previous operators offer a superior starting point
- Metallurgical testing indicates excellent leach response amenable to heap leach or column leach processing
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