FREEMAN FINALIZES OPTION PAYMENT, ACQUIRES 46 UNPATENTED MINING CLAIMS, SECURES 100% OWNERSHIP OF THE LEMHI GOLD PROJECT

Executive Summary

• Freeman Gold Corp. exercised its option and paid US $525,000 to acquire 46 unpatented mining claims surrounding the core Lemhi gold project, achieving 100% ownership of the Lemhi Project.
• The acquisition supports the company’s strategy to accelerate development and may be used for a tailings storage facility as outlined in the 2023 Preliminary Economic Assessment (PEA).
• Julie Van Baarsen was appointed interim Chief Financial Officer effective September 1, 2025; CEO Bassam Moubarak remains in his role.

Key Details

• Option Exercise: Final payment of US $525,000 made (originally US $550,000 due Aug 19, 2026) to fully exercise the option agreement with BHLK‑2 LLC for 46 unpatented claims in Lemhi County, Idaho.
• Claims Acquired: The 46 claims surround the patented core and contain a portion of the Lemhi resource; acquisition consolidates 100% ownership of the Lemhi Gold Project.
• Strategic Rationale: Claims will be incorporated into development plans and may host part of a tailings storage facility per the 2023 Lemhi PEA.
• Financial Impact: No immediate cash flow impact beyond the US $525,000 payment; enhances project land package and potential future valuation.
• Management Change: Julie Van Baarsen, CPA with >30 years experience in finance roles across telecom and mining sectors, appointed interim CFO (effective 2025‑09‑01).
• CEO Continuity: Bassam Moubarak continues as President & CEO and Director; he previously served dual role of CEO/CFO during the search.
• Project Overview (context): Lemhi Project hosts a NI 43‑101 compliant resource of 988,100 oz Au at 1.0 g/t (Measured + Indicated) plus 256,000 oz Inferred; PEA indicates after‑tax NPV US$329 M and IRR 28.2% with 75,900 oz annual production over an 11.2‑year mine life.
• Technical Review: Release reviewed and approved by Dean Besserer, VP Exploration, and a Qualified Person per NI 43‑101.

Notable Quotes

(No direct quotes provided in the release.)