FREEMAN GOLD COMMENCES WATER AND AIR RESOURCE STUDIES AT THE LEMHI GOLD PROJECT

Freeman Gold Corp. has launched baseline environmental characterization programs for water and air quality at its 100%-owned Lemhi Gold Project in Idaho. The company has partnered with GSI Environmental Inc. and Trinity Consultants to conduct multi-season data collection aimed at supporting state and federal permitting, specifically to meet Idaho Department of Environmental Quality (IDEQ) requirements for a Point of Compliance Determination and New Source Review (NSR).

The release reiterates economic metrics from the 2026 Feasibility Study, highlighting a Proven and Probable Reserve of approximately 1.0 million ounces of gold and a post-tax NPV(5%) of US$696 million. The water resource program includes groundwater monitoring expansion, surface water flow stations, hydrogeologic conceptual site modeling, and numerical groundwater modeling. The air quality program involves continuous beta-attenuation mass monitors, meteorological towers, emissions inventory compilation, and AERMOD dispersion modeling to demonstrate compliance with National Ambient Air Quality Standards (NAAQS). Regulatory coordination with IDEQ is ongoing to ensure the baseline characterization meets permitting requirements.

Freeman Gold Corp. (FMAN) released an announcement marking a standard, expected progression in its permitting pathway following the completion of the Feasibility Study in June 2026. The company stated that the move does not introduce new financial metrics, reserve estimates, or operational changes, with the economic profile remaining unchanged at $696M NPV(5%) and 34.4% IRR at $3,650/oz.

The action establishes a transparent environmental baseline, which de-risks the permitting timeline, though it is characterized as a routine compliance step rather than a market-moving catalyst. The news aligns with previous expectations and management guidance regarding the sequence of engineering and permitting activities, with no material positive or negative impact on the near-term stock price anticipated.

Freeman Gold Corp. is an exploration and development company focused on the Lemhi Gold Project in Lemhi County, Idaho, USA. The project is 100% owned by Freeman, with mineral and surface rights held on patented claims covering over 90% of known mineralization. The flagship project is an advanced-stage, near-surface oxide gold deposit amenable to conventional open-pit mining and carbon-in-leach (CIL) processing.

The 2026 Feasibility Study confirms a 15.2-year mine life, 1.0 million ounces of Proven and Probable reserves, and strong economics with a 2.5-year payback period. Drilling history includes 525 holes totaling 92,696 meters, with continuous exploration upside beyond current reserves.