Mr. Bassam Moubarak reports

FREEMAN GOLD COMMENCES LAND USE AND SOCIOECONOMIC BASELINE STUDIES AT THE LEMHI GOLD PROJECT

Freeman Gold Corp. has started comprehensive human environment and land use baseline surveys for its 100-per-cent-owned Lemhi gold project, located in Lemhi county, Idaho. Managed in partnership with GSI Environmental Inc., the studies will characterize socioeconomic conditions, cultural resources, land and recreation use, access and transportation, noise, and visual resources in and around the project area.

The primary objective of these baseline programs is to build a rigorous environmental and human-impact data set to support federal permitting of the project under the National Environmental Policy Act (NEPA).

Key survey focus areas

• Socioeconomics: Characterizing existing local and regional conditions across Lemhi county, including population demographics, employment, local government revenues, public services, housing and land-based economic activity.
• Cultural resources: Field teams from ARH Archaeology and Architectural History LLC are conducting Class III intensive cultural resource inventories. Building on past work in the area, the survey aims to identify and evaluate historic and archaeological sites across the preliminary project footprint, access corridors, and proposed transmission line corridors.
• Recreation and land use: Mapping existing land ownership, public access routes, surface management, grazing allotments and regional recreational use, such as National Forest System roads and trails, to evaluate potential interactions with local land use.
• Access and transportation: Initiating desktop analysis and supplemental traffic count programs along key transportation corridors, including Hughes Creek Road and regional intersections, to establish baseline traffic volumes and infrastructure conditions.
• Noise environments: Conducting targeted desktop evaluations and field-based acoustic monitoring to define representative ambient noise levels at key receptor locations and along potential access routes.
• Visual (scenic) resources: Using 3-D infrastructure models from the feasibility study, together with field reconnaissance, to establish key observation points (KOPs) and evaluate existing scenic character in line with U.S. Forest Service scenery management protocols.

Bassam Moubarak, chief executive officer of Freeman, commented: "Starting this broad suite of human and land use baseline studies is an essential step in advancing the Lemhi gold project responsibly. A thorough understanding of the socioeconomic, cultural and visual landscape of Lemhi county will help ensure that our project design and permitting remain grounded in environmental stewardship, respect for the community and technical rigour."

Qualified person

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

About Freeman Gold Corp.

Freeman Gold is a Canadian-listed gold development company focused on advancing its 100-per-cent-owned Lemhi gold project in Lemhi county, Idaho, United States. The company is led by a management team and board with experience in mine development, project financing and value creation in the mining sector. Freeman is advancing permitting and baseline characterization at the project as a key step in its strategy to move Lemhi toward development and production.

The project is supported by a 2026 feasibility study that estimates proven and probable mineral reserves of 43.04 million tonnes at 0.74 gram per tonne Au for 1,025,737 ounces of gold and a 15.2-year mine life. At a base-case gold price of $3,650 (U.S.) per ounce, the feasibility study estimates a post-tax NPV (net present value) (5 per cent) of $696-million (U.S.), a post-tax IRR (internal rate of return) of 34.4 per cent and a 2.5-year payback period, with initial capital costs of $329.7-million (U.S.) and life-of-mine all-in sustaining costs of $1,719 (U.S.) per ounce. The project is designed as a conventional open-pit, carbon-in-leach operation with an average life-of-mine gold recovery of 94.8 per cent. Idaho is an established U.S. mining jurisdiction, and the project is advancing through permitting, engineering, financing and development activities.

The project covers approximately 30 square kilometres and hosts a near-surface oxide gold deposit. At a 0.2 g/t Au cut-off, the pit-constrained mineral resource estimate, effective Jan. 30, 2026, comprises a measured mineral resource of 8,356,000 tonnes at 0.92 g/t Au for 247,000 ounces (oz) of gold, an indicated mineral resource of 39,954,000 tonnes at 0.76 g/t Au for 974,000 oz of gold, and an inferred mineral resource of 10,683,000 tonnes at 0.70 g/t Au for 240,000 oz of gold. Mineral resources are reported inclusive of mineral reserves. To date, 525 drill holes totalling 92,696 m have been completed. For further details, see the technical report titled "NI 43-101 Technical Report and Feasibility Study" dated Aug. 13, 2026 (Murray K., Elfen S.C., Mehrfert P., Dufresne M., Brangers K., Schulte M.), available under the company's profile on SEDAR+.

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