Freeman Gold commences water and air studies at Lemhi

Canada NewsWire

VANCOUVER, BC, Aug. 27, 2026 /CNW/ -- Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) (" Freeman " or the " Company ") is pleased to announce that it has initiated initial baseline environmental characterization programs for water and air quality resources at its 100%-owned Lemhi Gold Project (" Lemhi " or the " Project "), located in Lemhi County, Idaho. The comprehensive survey programs are designed to collect critical multi-season environmental data to support state and federal permitting, air dispersion modeling, and to build upon the Project's 2026 feasibility and hydrogeologic studies.

To lead the execution of these critical environmental baselines, Freeman has partnered with GSI Environmental Inc. (" GSI ") as the primary contractor. GSI has additionally engaged Trinity Consultants to deliver specialized air quality, ambient monitoring, and dispersion modeling services.

Baseline Water Resource Program

The baseline water resource characterization program focuses on establishing a robust hydrogeological baseline across the Project site. Freeman has engaged with the Idaho Department of Environmental Quality (" IDEQ ") to ensure the baseline characterization program will meet the requirements to support the Point of Compliance Determination application. Key initial field activities and deliverables include:

Groundwater Monitoring: Expansion of the existing groundwater monitoring program through the installation of automated pressure transducers in existing monitoring wells to establish continuous groundwater elevation data, while continuing collection of groundwater quality data.

Surface Water Monitoring: Expansion of the existing surface water monitoring program through reconnaissance and establishment of surface water flow monitoring stations across nearby creeks to further characterize surface water flows and water quality conditions.

Hydrogeologic Conceptual Site Model (CSM): Desktop compilation of historical, geological, and surface/groundwater data to construct a preliminary site-wide hydrogeologic model.

Numerical Groundwater Modeling: Development and calibration of a numerical groundwater model for the Project area to help further characterize groundwater flow, evaluate potential changes to groundwater as a result of the Project, and evaluate and refine proposed operational plans.

Ambient Air Quality & Meteorological Monitoring Program

To meet IDEQ standards and support New Source Review (NSR) permitting requirements, Freeman is deploying a complete, state-of-the-art ambient air and meteorological monitoring network. Program features include:

Air Quality Station: Installation of continuous and beta-attenuation mass monitors alongside a Federal Reference Method (FRM) sampler.

10-Metre Meteorological Tower: Real-time continuous collection of wind speed, wind direction, vertical wind speed, multi-level temperature, relative humidity, solar and net radiation, barometric pressure, and precipitation.

Emissions Inventory & AERMOD Modeling: Compilation of a site-wide facility emissions inventory and execution of air dispersion modeling to demonstrate ongoing compliance with National Ambient Air Quality Standards (NAAQS).

IDEQ Coordination: Formulation of a site-specific Quality Assurance Project Plan (QAPP) for regulatory review and final dataset approval.

Bassam Moubarak, Chief Executive Officer and Director of Freeman, commented: "Initiating these key baseline surveys marks an important milestone in advancing Lemhi towards responsible, fully permitted development. Gathering high-quality, multi-season environmental data ensures our team remains fully aligned with regulatory requirements while establishing a transparent environmental baseline for the Project."

About Freeman Gold Corp.

Freeman Gold Corp. (TSXV: FMAN, OTCQB: FMANF, FSE: 3WU) is a Canadian-listed gold development company focused on advancing the 100%-owned Lemhi Gold Project in Lemhi County, Idaho, USA. The Company is led by an experienced management team and board with proven track records in mine development, project financing, and value creation in the mining sector. Freeman has recently commenced advance permitting and baseline characterization for the Lemhi Gold Deposit, representing a key step in the Company's strategy to move the Lemhi Project assertively toward future development and production.

Freeman's 100%-owned Lemhi Gold Project is supported by a 2026 Feasibility Study confirming a Proven and Probable Mineral Reserve of approximately 1.0 million ounces of gold and a 15.2-year mine life. At a base-case gold price of US$3,650 per ounce, the Project demonstrates a post-tax NPV(5%) of US$696 million, a 34.4% IRR and a 2.5-year payback period. The Project is designed as a conventional open-pit, carbon-in-leach operation with an average life-of-mine recovery of 94.8% and significant exploration upside beyond the current reserve. Located in Idaho, a well-established U.S. mining jurisdiction, Lemhi is advancing through permitting, engineering, financing and development activities.

The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit-constrained mineral resource estimate at a 0.2 g/t Au cutoff comprises 8.356 million tonnes at 0.92 g/t Au for 247,000 ounces (oz) of gold, an Indicated Mineral Resource of 39.954 million tonnes at 0.76 g/t Au for 974,000 oz of gold, and an Inferred Mineral Resource of 10.683 million tonnes at 0.70 g/t Au for 240,000 oz of gold*. To date, 525 drill holes and 92,696 m of drilling have been completed (Murray K., Elfen S.C., Mehrfert P., Dufresne M., Brangers K., Schulte M., NI 43-101 Technical Report and Feasibility Study, dated August 13, 2026; www.sedarplus.ca ).

*Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

On Behalf of the Company

Bassam Moubarak Chief Executive Officer Tel: 604-977-3214

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. All statements in this release that are not statements of historical fact are forward-looking information, including, without limitation: statements regarding the results of the Feasibility Study for the Lemhi Gold Project; the estimated economics of the Project, including projected net present value, internal rate of return, payback period, mine life, mineral reserves and processing recoveries; the Company's plans to advance permitting, engineering, financing and development activities; the anticipated timing and completion of environmental baseline studies, regulatory submissions and permitting processes; the scope, timing, execution and completion of the baseline water resource characterization and ambient air quality and meteorological monitoring programs described in this news release, including the collection of multi-season environmental data and the deployment and continued operation of monitoring stations, wells and equipment; the development, calibration and reliability of the hydrogeologic and numerical groundwater models and air dispersion modeling described in this news release, and the conclusions drawn from such models regarding groundwater flow, potential Project-related changes to groundwater, proposed operational plans and compliance with National Ambient Air Quality Standards; the performance of GSI Environmental Inc., Trinity Consultants and other contractors and consultants engaged in connection with such programs; the preparation, submission and regulatory acceptance of the Point of Compliance Determination application, the site-specific Quality Assurance Project Plan, the facility emissions inventory and the resulting datasets; the anticipated New Source Review and other state and federal permitting requirements applicable to the Project and the Company's ability to satisfy such requirements; the sufficiency of the environmental baseline data collected in supporting future permitting applications and regulatory processes; the potential to expand mineral resources and mineral reserves through future exploration and drilling; the Project's future production profile and operational performance; the Company's ability to secure financing and governmental approvals; and the Company's expectations regarding the future development, construction and operation of the Lemhi Gold Project.

Forward-looking information is based on a number of assumptions that management believes are reasonable as of the date of this news release, including, without limitation: the assumptions underlying the Feasibility Study; long-term commodity prices, foreign exchange rates and inflation assumptions; estimates of mineral reserves and mineral resources; expected metallurgical recoveries; anticipated capital and operating costs; availability of labour, equipment, contractors, materials and services; the timely receipt of permits, approvals and authorizations; the availability of financing on acceptable terms; political and regulatory stability; the accuracy of geological, engineering, environmental and economic interpretations and models; that the baseline water resource and ambient air quality programs will be implemented and completed substantially as contemplated and within anticipated timeframes; that GSI Environmental Inc., Trinity Consultants and other contractors and consultants will perform their engagements in accordance with their terms and applicable professional standards; that the Company will maintain access to the Project site, monitoring locations and monitoring equipment throughout the multi-season data collection period; that monitoring equipment will operate reliably and generate data of sufficient quality and completeness for regulatory purposes; that seasonal, climatic and site conditions will permit data collection as planned; that applicable regulatory requirements, standards and guidance, including those of the Idaho Department of Environmental Quality, will not change in a manner that materially affects the programs described in this news release; and that the Idaho Department of Environmental Quality and other regulatory authorities will accept and approve the Company's plans, datasets, models and applications in the ordinary course.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks include, without limitation: risks associated with mineral exploration, development and mining operations; uncertainties relating to mineral reserve and mineral resource estimates; differences between actual and estimated production, grades or recoveries; changes in commodity prices, exchange rates, inflation, interest rates or capital market conditions; increases in capital or operating costs; delays in obtaining permits, approvals or financing, and the risk that permits, approvals or authorizations are refused, withdrawn or revoked, or granted on terms that are onerous, conditional or otherwise unacceptable to the Company; the risk that regulatory authorities do not accept or approve the Company's baseline characterization, quality assurance plans, datasets, emissions inventory or modeling results, or require additional or repeated data collection or analysis; the risk that baseline environmental data, once collected, is unfavourable or inconclusive, or otherwise adversely affects the scope, cost, timing or feasibility of the Project or the Company's proposed operational plans; uncertainties inherent in hydrogeologic and air dispersion modeling, including the risk that models do not accurately predict actual conditions; equipment failure, data loss or gaps, or loss of site or monitoring access, including as a result of adverse seasonal, climatic or site conditions; changes in applicable laws, regulations, standards or government policies, including those governing water quality, air quality and permitting; environmental, reclamation or community relations risks; contractor or supplier performance; availability of skilled labour and equipment; litigation or title disputes; geotechnical, hydrological or metallurgical risks; adverse weather or natural events; and the other risk factors described in the Company's public disclosure documents filed under its profile on SEDAR+. This list is not exhaustive of the factors that may affect the Company's forward-looking information.

Although the Company believes the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct, and readers should not place undue reliance on forward-looking information. Forward-looking information is provided for the purpose of assisting investors and others in understanding the Company's current expectations, plans and objectives and may not be appropriate for other purposes.

All forward-looking information contained in this news release is made as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Freeman Gold Corp.

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Canada Newswire

August 27, 2026 - 4:30 AM PDT

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