VANCOUVER - Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) ('Freeman' or the 'Company') is pleased to announce that, further to its news release dated June 29, 2026, it has filed the National Instrument 43-101 ('NI 43-101') technical report (the 'Technical Report') supporting the Feasibility Study (the 'FS') for its 100%-owned Lemhi Gold Project in Idaho, USA (the 'Project').
The Technical Report, titled 'Lemhi Gold Project NI 43-101 Technical Report and Feasibility Study, with an effective date of June 29, 2026', was prepared by Ausenco Engineering Canada ULC together with independent Qualified Persons, and is available here and under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website.
'Ausenco's recommendation to advance Lemhi directly into detailed engineering and permitting provides strong independent validation of the project's technical and economic strength,' commented Paul Matysek, Executive Chairman. 'The Feasibility Study reinforces what we have long believed: Lemhi is one of the highest-quality undeveloped oxide gold projects in the United States. With a one-million-ounce proven and probable reserve, compelling economics at conservative gold prices, and a well-defined path through permitting, our priority now is execution. We intend to advance the project efficiently and with purpose toward a construction decision.'
'At current gold prices, Lemhi's after-tax NPV exceeds US$1 billion, yet Freeman continues to trade at only a small fraction of that value,' said Bassam Moubarak, Chief Executive Officer. 'The Feasibility Study was intentionally based on a conservative gold price of US$3,650 per ounce and demonstrates robust economics at that level. Importantly, it also highlights the significant leverage inherent in the project, with each US$250 per ounce increase in the gold price adding approximately US$120 million to after-tax NPV. With the technical report now filed, permitting underway, and the treasury funded to advance that process, we believe the gap between Freeman's market valuation and Lemhi's demonstrated economic value has never been more compelling.'
About Freeman Gold Corp.
Freeman Gold Corp. (TSXV: FMAN, OTCQB: FMANF, FSE: 3WU) is a Canadian-listed gold development company focused on advancing the 100%-owned Lemhi Gold Project in Lemhi County, Idaho, USA. The Company is led by an experienced management team and board with proven track records in mine development, project financing, and value creation in the mining sector. Freeman has recently commenced advance permitting and baseline characterization for the Lemhi Gold Deposit, representing a key step in the Company's strategy to move the Lemhi Project assertively toward future development and production.
The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained mineral resource estimate at a 0.2 g/t Au cutoff is comprised of 8.356 million tonnes at 0.92 g/t Au for 247,000 ounces (oz) of gold, an Indicated Mineral Resource of 39.954 million tonnes at 0.76 g/t Au for 974,000 oz of gold, and an Inferred Mineral Resource of 10.683 million tonnes at 0.70 g/t Au for 240,000 oz of gold. To date, 525 drill holes and 92,696 m of drilling has historically been completed (Murray K., Elfen S.C., Mehrfert P., Dufresne M., Brangers K., Schulte M., NI 43-101 Technical Report and Feasibility Study, dated August 13, 2026; www.sedarplus.ca).
Forward-Looking Statements
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking information') within the meaning of applicable Canadian securities legislation. All statements in this release that are not statements of historical fact are forward-looking information, including, without limitation: statements regarding the results of the Feasibility Study for the Lemhi Gold Project; the estimated economics of the Project, including projected net present value, internal rate of return, payback period, capital expenditures, operating costs, sustaining capital, production rates, mine life, mineral reserves, processing recoveries, cash costs and all-in sustaining costs; the Company's plans to advance permitting, engineering, financing, procurement and development activities; the anticipated timing and completion of environmental baseline studies, regulatory submissions and permitting processes; the potential to expand mineral resources and mineral reserves through future exploration and drilling; the Project's future production profile and operational performance; the Company's ability to secure financing, strategic partnerships and governmental approvals; the potential application of the FAST-41 federal permitting framework or other regulatory processes and the Company's expectations regarding the future development, construction and operation of the Lemhi Gold Project.
Forward-looking information is based on a number of assumptions that management believes are reasonable as of the date of this news release, including, without limitation: the assumptions underlying the Feasibility Study; long-term commodity prices, foreign exchange rates and inflation assumptions; estimates of mineral reserves and mineral resources; expected metallurgical recoveries; anticipated capital and operating costs; availability of labour, equipment, contractors, materials and services; the timely receipt of permits, approvals and authorizations; the availability of financing on acceptable terms; political and regulatory stability and the accuracy of geological, engineering, environmental and economic interpretations and models.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks include, without limitation: risks associated with mineral exploration, development and mining operations; uncertainties relating to mineral reserve and mineral resource estimates; differences between actual and estimated production, grades or recoveries; changes in commodity prices, exchange rates, inflation, interest rates or capital market conditions; increases in capital or operating costs; delays in obtaining permits, approvals or financing; changes in applicable laws, regulations or government policies; environmental, reclamation or community relations risks; contractor or supplier performance; availability of skilled labour and equipment; litigation or title disputes; geotechnical, hydrological or metallurgical risks; adverse weather or natural events and the other risk factors described in the Company's public disclosure documents filed under its profile on SEDAR+.
Although the Company believes the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct, and readers should not place undue reliance on forward-looking information. Forward-looking information is provided for the purpose of assisting investors and others in understanding the Company's current expectations, plans and objectives and may not be appropriate for other purposes.
All forward-looking information contained in this news release is made as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise
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