Mr. Bassam Moubarak reports

FREEMAN GOLD COMMENCES FEASIBILITY LEVEL GEOTECHNICAL WORK PROGRAM AT THE LEMHI GOLD PROJECT

Freeman Gold Corp. has commenced its 2025 geotechnical work program that includes borehole drilling, test pit excavation, in situ material testing and geophysical surveys at the Lemhi gold project. Results from this work will be incorporated into a feasibility study of the project, currently being prepared by Ausenco (see Freeman's news release dated Feb. 10, 2025).

The geotechnical work program aims to:

• Gather subsurface data to evaluate mine infrastructure foundation conditions and support feasibility-study-level design of the co-placement storage facilities, open pit and process plant;
• Assess soil and groundwater conditions through geotechnical drilling, sampling and in situ testing;
• Characterize rock mass properties along the open-pit walls with geomechanical drilling;
• Identify geotechnical and geological risks, such as weak soils, fault zones, groundwater challenges or other unstable conditions that could impact the project;
• Perform laboratory testing to evaluate the physical and mechanical properties of soil and rock; and
• Prepare an independent engineering report to document the subsurface investigation.

The field exploration program is being undertaken within the proposed facility footprint, guided by prior preliminary economic assessment design layouts, and is limited to the patented claim boundaries. Only non-intrusive exploration methods, such as geophysics, will be conducted outside of the patented area. Laboratory testing will encompass a comprehensive suite of tests to classify soils/rock and the physical and mechanical properties of both materials. These tests will provide data to inform the engineering and designs included in the feasibility study.

Lemhi is composed of 10 patented mining claims (placer and lode), one patented mill site claim and 332 unpatented mining claims, totalling 2,727 hectares of mineral rights and 249 hectares of surface rights. Freeman controls a 100-per-cent interest in all 11 patented claims and all 332 unpatented mining claims outright or through its wholly owned subsidiary company. The project is located in Lemhi county, Idaho, United States.

About Freeman Gold Corp.

Freeman 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 is composed of 988,100 ounces gold at 1.0 gram per tonne in 30.02 million tonnes (4.7 million tonnes measured (168,800 oz) and 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 expanding and advancing the project toward a production decision. To date, 525 drill holes and 92,696 metres of drilling have 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 Nov. 20, 2023).

The recently updated price sensitivity analysis (see Freeman's news release dated April 9, 2025) shows a preliminary economic assessment with an after-tax net present value (5 per cent) of $329-million (U.S.) and an internal rate of return of 28.2 per cent using a base-case gold price of $2,200 (U.S.) per 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 $925 (U.S.) per oz Au; and all-in sustaining costs of $1,105 (U.S.) per oz Au using an initial capital expenditure of $215-million (U.S.).

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

We seek Safe Harbor.