FREEMAN COMPLETES THIRD SEASON OF BASIC WATER QUALITY MONITORING AT LEMHI GOLD PROJECT, IDAHO |

VANCOUVER, B.C, December 4, 2024 /CNW/ – Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FWB: 3WU) (“Freeman“or the”Pursue“) is pleased to announce that GSI Environmental Inc. (“GSI“) has completed the third and final season of Freeman’s core water quality monitoring program at its 100%-owned Lemhi Gold Project Lemhi County, Idaho.

Freeman’s core water quality monitoring program includes sampling and monitoring at 12 wells and five surface water sites located along Freeman’s patented claims. Over the past three years, 12 quarters of sampling have been conducted at the site, providing a meaningful data set for initiating the Point of Compliance application.POC“) Finding of the Idaho Department of Environmental Quality (“DEQ“). The POC provision is a crucial authorization in Idahowhich details monitoring, sampling and reporting requirements to ensure that mining activities do not impact groundwater quality. Applicants must determine baseline water quality conditions for groundwater using at least 12 samples from each monitoring point. Now that these samples have been collected, Freeman is poised to begin the POC application process in 2025, representing a key milestone toward securing one of the key permits required to support mine development and operations.

About the company and the project

Freeman Gold Corp. is a mineral exploration company focused on developing its 100% owned Lemhi gold property (the “project“). The project covers 30 square kilometers of highly prospective land hosting a shallow oxide gold resource. The pit was limited to National Instrument 43-101 (“NI 43-101“) The conforming mineral resource estimate includes 988,100 ounces of gold (“Ow“) at 1.0 grams per ton (“g/t“) in 30.02 million tonnes (measured and indicated) and 256,000 ounces of Au at 1.04 g/t Au in 7.63 million tonnes (inferred). The Company is focused on the growth and advancement of the project with regard to a production decision.

The recently completed PEA shows: an after-tax cash value (5%) of $212.4 million and IRR of 22.8% at a base case gold price of $1,750/oz; and capital value after taxes (5%) of $345.7 million and IRR of 31.9% using the spot gold price of $2,042.60 US$/ounce; Average annual gold production of 75,900 ounces Au over the life of mine (“LOM“) 11.2 years of payable production of 851,900 ounces Au; LOM cash costs of $809/oz Au; and all-encompassing sustainable cash costs (“AISC“) from $957/oz Au with an initial CAPEX of $190 million. The technical content of this publication has been reviewed and approved by Dean BessererP. Geo., the Company’s VP Exploration and a Qualified Person as defined by National Instrument 43-101.

On behalf of the company

Bassam Moubarak

Managing Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release contains “forward-looking information or statements” within the meaning of Canadian securities laws, which may include, without limitation, statements relating to exploration, results thereof and the Company’s future business plans. All statements in this press release, other than statements of historical fact, that address events or developments that the Company expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects.” . , “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions. The reader is urged to consult the Company’s reports, which are publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, for a more complete discussion of these risk factors and their potential impact to obtain. The Company undertakes no obligation to update any forward-looking statements or forward-looking information, except as required by law.

SOURCE Freeman Gold Corp.