Mr. Bassam Moubarak reports

FREEMAN WELCOMES EXECUTIVE ORDER EMPOWERING DOMESTIC MINERAL PRODUCTION

Freeman Gold Corp. has welcomed President Donald Trump's executive order to fast-track and revitalize American mineral production. Among its provisions, the executive order empowers use of the Defense Production Act to elevate domestic production capabilities and provides for program guidance on financing tools for mining projects made available through the United States Export-Import Bank. The company is evaluating the new programs that have been announced to determine the Lemhi gold project's potential eligibility.

In addition to meeting national needs, the Lemhi gold project is designed to provide hundreds of jobs and stimulate the local economy in Idaho. As laid out in the 2023 preliminary economic assessment (PEA), the project is a high-grade, low-cost, open pit operation with an average annual production of 80,100 ounces (oz) of gold (Au) in the first eight years. The production strategy envisions a phased development with an increase in throughput during the fifth year of operation, with a flowsheet utilizing a carbon-in-leach (CIL) processing facility. The objective of the study has been to maximize the value of the project, while minimizing the footprint and environmental impact. See Oct. 16, 2023, news release.

The order defines critical minerals as those listed in 30 U.S.C. 1606(a)(3), as well as uranium, copper, potash, gold, and any other element, compound or material as determined by the chair of the National Energy Dominance Council (NEDC). The order is also designed to significantly accelerate permitting as well as expand and prioritize the use of federal lands for mining activities.

About 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 National Instrument 43-101-compliant mineral resource estimate comprising 988,100 ounces of Au (gold) at 1.0 g/t in 30.02 million tonnes (measured and indicated) and 256,000 ounces Au at 1.04 grams per tonne (g/t) Au in 7.63 million tonnes (inferred). The company is focused on growing and advancing the project toward a production decision. To date, 525 drill holes and 92,696 m of drilling has historically been completed.

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

The technical content of this release has been reviewed and approved by Dean Besserer, PGeo, vice-president of exploration of the company and a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.