Freeman Gold Corp. (TSX-V: FMAN) (OTCQB: FMANF) (FSE: 3WU) is pleased to announce that it has received results from three drill holes from the Southern Portion of the 2025 core drilling program (see Table 1) at the Lemhi Gold Project.

Figure 1: Location map showing select 2025 Freeman drill holes. (CNW Group/Freeman Gold Corp.)

• Drill hole FG25-001DD intercepted 3.1 g/t Au over 8.0m within a larger interval of 0.37 g/t Au over 98.4m;
• Drill hole FG25-002DD contains mineralization from surface including: 1.3 g/t Au over 4m, 1.37 g/t over 2.14m, and 1.6 g/t over 7.6m, within an interval of 0.3 g/t Au over 178.9m;
• Drill hole FG25-003DD intercepted 0.74 g/t Au over 9.1m within a larger interval of 0.24 g/t Au over 54m;
• The drilling was part of a combined RC and core drilling program designed to:
  • convert the inferred ounces from the current mineral resource estimate (see Freeman’s news release dated May 15, 2025) to either measured or indicated (approximately 1,820 metres in 23 drill holes) for those which are contained within the pit shell as designed as part of Freeman’s Preliminary Economic Assessment (see Freeman’s news release dated October 16, 2023); and
  • the results will form the basis of an updated Mineral Resource Estimate (MRE) that will be included in the Lemhi Feasibility Study.

Bassam Moubarak, CEO, stated, “Freeman’s 3,328-metre (RC: 2860m, Core: 468m) 2025 Feasibility Study drilling program was designed to convert in-pit resources on patented claims to Measured and Indicated and test the extent of mineralization. Drill results to date indicate gold mineralization continues beyond the patent boundaries in the south and north. We look forward to releasing the updated MRE in Q1 2026.”

Table 1: Drill Results (Lemhi South)**

All drill samples were sent to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by Fire Assay. Freeman Gold has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment.

About the Company and Project

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property. The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained National Instrument 43-101 compliant mineral resource estimate is comprised of 988,100 ounces gold at 1.0 gram per tonne in 30.02 million tonnes (4.7 million tonnes Measured (168,800 oz) & 25.5 million tonnes Indicated (819,300 oz)) and 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes (Inferred).  The Company is focused on growing and advancing the Project towards a production decision. To date, 525 drill holes and 92,696 m of drilling has historically been completed (Murray K., Elfen, S.C., Mehrfert, P., Millard, J., Cooper, Schulte, M., Dufresne, M., NI 43-101 Technical Report and Preliminary Economic Assessment, dated November 20, 2023; www.sedar.com).

The recently updated price sensitivity analysis (see Freeman’s news release dated April 9, 2025) shows a PEA with an after-tax net present value (5%) of US$329 million and an internal rate of return of 28.2% using a base case gold price of US$2,200/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine of 11.2 years payable output of 851,900 oz Au; life-of-mine cash costs of US$925/oz Au; and, all-in sustaining costs of US$1,105/oz Au using an initial capital expenditure of US$215 million*.

*Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., the VP Exploration for the Company and a Qualified Person as defined by the National Instrument 43-101.

On Behalf of the Company
Bassam Moubarak
Chief Executive Officer