Freeman Gold completes feasibility study for Lemhi; confirms 1 million oz Au resource, $696M NPV

Canada NewsWire VANCOUVER, BC , June 29, 2026 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) (" Freeman " or the " Company ") is pleased to announce the results of the Feasibility Study (" FS ") for its 100%-owned Lemhi Gold Project (" Lemhi " or the " Project "), located in Lemhi County, Idaho, USA. Prepared by Ausenco Engineering Canada ULC (" Ausenco ") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 "), the Feasibility Study confirms Lemhi as a technically robust, long-life gold development project supported by a Proven and Probable Mineral Reserve of 1.0 million 1 ounces of gold. At a base case of US$3,650 per ounce, the study demonstrates strong economics, including a pos-tax Net Present Value (" NPV (5%) ") of US$696 million, a post-tax internal Rate of Return (" IRR ") of 34.4% and a rapid payback period of 2.5 years.

The Project combines scale, simplicity, strong margins and significant exploration upside within one of the most attractive mining jurisdictions in the United States. Using current spot price of US$4,090 2  increases post-tax NPV (5%) to US$904 million, a 29.82% increase from the base case. IRR increases to 41.4% and payback period reduces to 2.1 years, while increasing the NPV-to-initial-capital ratio to 2.74x from 2.11x.

Why Lemhi Stands Out 100%-owned gold development project located in Idaho, USA Proven and Probable Mineral Reserve of 1.0 million 1 ounces of gold Long-life operation with a 15.2-year mine life Conventional open-pit mining and carbon-in-leach processing Average life-of-mine gold recovery of 94.8% Rapid post-tax payback of 2.5 years Strong capital efficiency with a 2.11x NPV-to-initial-capital ratio Significant exploration u