Mr. Bassam Moubarak reports

FREEMAN APPOINTS DAVID KEOUGH TO ITS BOARD OF DIRECTORS

Freeman Gold Corp. has appointed David Keough to its board of directors, effective Dec. 2, 2024.

Mr. Keough is an experienced mining executive with over 35 years of practice in the mining industry including exploration, engineering, mine operations (open pit and underground), corporate development, contracting, consulting, projects and construction. His extensive mining experience spans jurisdictions across Latin America, North America, Europe, Africa and Asia Pacific. He has direct experience in numerous commodities including precious metals, base metals, mineral sands and lithium. Furthermore, Mr. Keough has held a number of executive director positions in both private and public companies in Australian and Canada, with broad experience serving on board audit committees, sustainability committees and compensation committees.

During his 35-year career, Mr. Keough worked for Placer Dome, Minera Alumbrera (Argentina) and spent six years with Goldcorp Inc. in key corporate development and operational roles in numerous countries before his appointment as executive vice-president and chief operating officer for Crocodile Gold. He later served as executive director and chief operating officer of Goldrock Inc., in which he successfully permitted the Lindero gold project (Argentina) for construction. Lindero was subsequently acquired by Fortuna Silver Mines Inc. He is currently a non-executive director of Saxum Engineering Solutions, a leading private engineering firm in the Americas.

Mr. Keough holds a bachelor of science and post graduate diploma (mineral economics) from James Cook University (Queensland) and is a fellow of the Australian Institute of Mining and Metallurgy and an accredited chartered professional (management). He also holds open-pit mine manager's certificates of competency (Western Australia).

Commenting on the appointment, chief executive officer Bassam Moubarak: "I am very excited and honoured to be working with David again. We look forward to David's valuable input in our engineering studies and mine development plans to further unlock and enhance the value of the 100-per-cent-owned Lehmi gold project."

Paul Matysek, Freeman gold executive chairman, continued: "David was instrumental in completing feasibility studies for both Goldrock Mines and Lithium-X Energy Corp. that were the basis for negotiating sales to Fortuna Silver Mines Inc. and NextView New Energy Lion Hong King Ltd., respectively. These two transactions cumulatively delivered $444-million of value to shareholders and investors and we are glad to have the team back together at Freeman Gold."

The company further announces the grant of an aggregate of 500,000 stock options to a director and to a consultant of the company, whereby each stock option is exercisable at 11 cents for a period of five years from the date of grant, subject to regulatory approval.

About the Freeman Gold Corp.

Freeman Gold is a mineral exploration company focused on the development of its 100-per-cent-owned Lemhi gold property. The project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit-constrained NI 43-101-compliant mineral resource estimate comprises 988,100 ounces of gold (Au) at 1.0 gram per tonne (g/t) in 30.02 million tonnes (measured and indicated) 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 toward a production decision.

The recently completed preliminary economic assessment (PEA) shows: an after-tax net present value (5 per cent) of $212.4-million (U.S.) and an IRR of 22.8 per cent using a base case gold price of $1,750 (U.S.) per oz; average annual gold production of 75,900 oz Au for a total life of mine (LOM) 11.2 years payable output of 851,900 oz Au; LOM cash costs of $809 (U.S.) per oz Au; and all-in sustaining cash costs (AISC) of $957 (U.S.) per oz Au using an initial capex of $190-million (U.S.).

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