Freeman Gold Delivers Feasibility Study for the Lemhi Gold Project Confirming 1 Million¹ Ounce Proven and Probable Reserve, US$696 Million Post Tax NPV(5%), 34.4% IRR and 15-Year Mine Life Using Base Case $3,650/oz Au

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VANCOUVER, BC, June 29, 2026 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce the results of the Feasibility Study ("FS") for its 100%-owned Lemhi Gold Project ("Lemhi" or the "Project"), located in Lemhi County, Idaho, USA. Prepared by Ausenco Engineering Canada ULC ("Ausenco") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), the Feasibility Study confirms Lemhi as a technically robust, long-life gold development project supported by a Proven and Probable Mineral Reserve of 1.0 million1 ounces of gold. At a base case of US$3,650 per ounce, the study demonstrates strong economics, including a pos-tax Net Present Value ("NPV(5%)") of US$696 million, a post-tax internal Rate of Return ("IRR") of 34.4% and a rapid payback period of 2.5 years. The Project combines scale, simplicity, strong margins and significant exploration upside within one of the most attractive mining jurisdictions in the United States. Using current spot price of US$4,0902 increases post-tax NPV(5%) to US$904 million, a 29.82% increase from the base case. IRR increases to 41.4% and payback period reduces to 2.1 years, while increasing the NPV-to-initial-capital ratio to 2.74x from 2.11x. Why Lemhi Stands Out 100%-owned gold development project located in Idaho, USA Feasibility Study Highlights BASE CASE: US$3,650/oz Gold | 5% Discount Rate AT US$4,090/oz GOLD — UPSIDE SCENARIO

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