Freeman Gold investor Paes-Braga buys 5M shares

Executive Summary

• Freeman Gold Corp. announced that Brian Paes-Braga has increased his stake in the company through open market purchases, bringing his total beneficial ownership to 5.09% of issued and outstanding shares.
• The acquisition was executed via alternative trading platforms, with Mr. Paes-Braga purchasing 5 million common shares at 21.08 cents per share for a total consideration of $1,054,200.
• The transaction highlights strong confidence in the company's Lemhi gold project in Idaho, with Mr. Paes-Braga citing the asset's potential and management's vision as key drivers for his investment.

Key Details

• Acquirer: Brian Paes-Braga (Managing Partner at SAF Group, Executive Chairman of NG Energy International Corp., Founder/CEO/Chairman of The Metals Royalty Co.).
• Transaction Type: Open market purchases through alternative trading platforms.
• Shares Acquired: 5,000,000 common shares.
• Price Per Share: $0.2108 CAD.
• Total Consideration: $1,054,200.
• Pre-Transaction Holdings: 10,650,000 common shares (3.46% of issued and outstanding).
• Post-Transaction Holdings:
  • Common Shares: 15,650,000 shares (5.09% of issued and outstanding).
  • Partially Diluted Basis: 37,541,110 shares (11.39%), assuming conversion/exercise of convertible debentures, warrants, and stock options held by the acquirer.
• Additional Securities Held by Acquirer:
  • Convertible Debentures: $1,000,000 face value (20.00% of issued and outstanding).
  • Warrants: 15,555,555 warrants (15.26% of issued and outstanding).
  • Stock Options: 780,000 options (3.29% of issued and outstanding).
• Purpose: Investment purposes; disclosure to be made via an early warning report under SEDAR+.
• Project Context (Lemhi Gold Project):
  • Resource Estimate: 988,100 oz Au at 1.0 g/t in 30.02 Mt (Measured: 168,800 oz; Indicated: 819,300 oz) + 256,000 oz Au at 1.04 g/t in 7.63 Mt (Inferred).
  • Preliminary Economic Assessment (PEA) Metrics (Gold Price $2,200/oz):
    • After-tax NPV (5%): $329 million USD.
    • IRR: 28.2%.
    • Average Annual Production: 75,900 oz Au.
    • Life of Mine: 11.2 years.
    • Total Payable Output: 851,900 oz Au.
    • Cash Costs: $925 USD/oz.
    • All-In Sustaining Costs (AISC): $1,105 USD/oz.
    • Initial Capex: $215 million USD.

Notable Quotes

• Bassam Moubarak, CEO: "We are thrilled to welcome Brian as an investor in Freeman. His support underscores the strength of our asset. This partnership aligns with our commitment to advancing the Lemhi project toward production and delivering long-term value to all shareholders."
• Brian Paes-Braga: "Lemhi project represents a unique opportunity to unlock significant value through responsible development and strategic execution in mining-friendly Idaho, United States. I believe the asset has been overlooked by the market, management has the vision and the potential to build a successful gold company. I look forward to supporting the team as they advance toward production and create long-term value for all stakeholders."