Freeman Gold advances baseline soil and geochemistry programs at Lemhi

Canada NewsWire

VANCOUVER, BC , Sept. 21, 2026 /CNW/ -- Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) (" Freeman " or the " Company ") is pleased to announce the commencement of baseline soil and geochemistry programs at its 100%-owned Lemhi Gold Project in Lemhi County, Idaho.

The programs are designed to advance the environmental characterization of the Lemhi Gold Project and generate important baseline data to support project planning, reclamation and closure planning, environmental review and future permitting activities.

Highlights

Baseline soil surveys are underway across approximately 1,300 acres representing the general pre-mining disturbance footprint of the Lemhi Gold Project.

The soil program includes detailed soil observations, descriptions, soil sampling, classification and mapping to characterize soil resources and support development of a future soil salvage and reclamation plan.

Soil samples are being analyzed for a comprehensive suite of physical, agronomic and geochemical parameters, including pH, particle size, cation exchange capacity, nutrients, carbon, sulfur and selected metals.

The Company is also advancing a Phase 1 geochemical characterization program designed to evaluate the potential for mine materials, including waste rock, wall rock, ore, tailings and borrow materials, to generate acid drainage or leach constituents of potential concern.

Phase 1 geochemical testing includes Acid Base Accounting (ABA), Net Acid Generation (NAG), elemental analysis, mineralogy and synthetic precipitation leaching procedure (SPLP) testing.

Results from the programs will contribute to the environmental and technical database supporting future mine planning, environmental management, permitting and feasibility-level studies.

Baseline Soil Program

The baseline soil program is being conducted by GSI Environmental Inc. (" GSI ") and Catena Consulting LLC (" Catena ") across approximately 1,300 acres within the broader Lemhi Gold Project area. The survey area represents the general pre-mining disturbance footprint and excludes existing roads, exploration pads and other previously disturbed areas.

Field activities include full descriptions and routine soil observations, hand excavation and augering, characterization of soil depth, texture and coarse fragments, collection of representative samples, and preliminary soil classification and mapping. The work is intended to provide data for soil salvage planning, environmental review and compliance with applicable Salmon-Challis National Forest requirements.

The current August field program includes final field investigations, laboratory data review, soil classification and mapping. In addition, approximately 55 soil samples are planned for multi-element analysis as part of the evaluation of potential growth media for mine closure.

Laboratory analysis includes physical and agronomic characteristics such as particle size, pH, cation exchange capacity, conductivity, nitrogen, phosphorus, sulfur and total and organic carbon, together with selected deleterious metals.

Phase 1 Geochemistry Program

Freeman is also advancing a Phase 1 geochemical characterization program under the direction of GSI. The program is designed to characterize the geochemical properties of mine materials. Results will help identify potential environmental risks associated with proposed operations and the required mitigation plan; inform future water and waste management strategies; and support permitting and other environmental studies.

The program uses existing exploration, geological, assay, and mine planning information to select representative samples of ore, waste rock, wall rock, tailings and borrow materials. Test results will estimate the potential for mine materials to generate acid drainage and leach deleterious elements. Phase 1 testing includes conventional static geochemical methods:

Acid Base Accounting (ABA) and associated confirmation tests;

Elemental composition;

Mineralogy; and

Batch leach testing.

Bassam Moubarak, Chief Executive Officer of Freeman, commented: "The commencement of these baseline programs represents another important step in advancing the Lemhi Gold Project. Building a comprehensive environmental and geochemical database is critical as we continue to de-risk the project. The soil work will provide important information for reclamation and closure planning, while the geochemical characterization program will help us better understand the behavior of potential mine materials and guide future mine planning, permitting and environmental management."

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 a Measured Mineral Resource of 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 (see the Technical Report referred to under "Qualified Person" below).

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

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Dean Besserer, P.Geo., VP Exploration of the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101 ").

The mineral resource and mineral reserve estimates and Feasibility Study results referred to in this news release are derived from the technical report entitled "Lemhi Gold Project NI 43-101 Technical Report and Feasibility Study", with an effective date of June 29, 2026, and a report date of August 13, 2026 (the " Technical Report "), available under the Company's profile on SEDAR+ at www.sedarplus.ca . The Technical Report was prepared by Kevin Murray, P.Eng., Scott Elfen, P.Eng. and Peter Mehrfert, P.Eng., each of Ausenco Engineering Canada ULC; Michael Dufresne, P.Geo. of APEX Geoscience Ltd.; Kyle Brangers, CPG of GSI Environmental Inc.; and Marc Schulte, P.Eng. of Moose Mountain Technical Services, each of whom is a Qualified Person as defined by NI 43-101 and independent of the Company.

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" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact are forward-looking information, including statements regarding: the scope, timing and completion of the baseline soil and Phase 1 geochemical characterization programs described in this news release; the sufficiency of the resulting data to support soil salvage, reclamation and closure planning, mine planning, water and waste management strategies, environmental review and future permitting applications; the Company's plans to advance permitting, engineering, financing and development of the Lemhi Gold Project; and the results and estimated economics of the 2026 Feasibility Study, including net present value, internal rate of return, payback period, mine life, processing recoveries, mineral reserves and mineral resources.

Forward-looking information is based on assumptions that management believes are reasonable as at the date of this news release, including: that the programs will be implemented and completed substantially as contemplated and within anticipated timeframes; that the Company will maintain site and sampling access and that seasonal, climatic and site conditions will permit field work as planned; that samples collected will be representative of the materials they are intended to characterize and that laboratory analyses will generate data of sufficient quality and completeness for regulatory purposes; that contractors and consultants will perform their engagements in accordance with their terms and applicable professional standards; that applicable regulatory requirements will not change materially and that regulatory authorities will accept the Company's methodologies, datasets and applications in the ordinary course; and the assumptions, qualifications and parameters underlying the 2026 Feasibility Study as set out in the Technical Report.

Forward-looking information is subject to risks and uncertainties that may cause actual results to differ materially, including: the risk that the Phase 1 geochemical characterization program identifies acid rock drainage, metal leaching or other constituents of potential concern in waste rock, wall rock, ore, tailings or borrow materials, and that additional characterization, kinetic testing, engineering controls, water treatment or mitigation is required, any of which could increase capital or operating costs, alter the mine plan or waste management strategy, or delay permitting; the risk that baseline data is unfavourable, incomplete or inconclusive, or that regulators require additional or repeated sampling or analysis; loss of site access or data gaps arising from adverse seasonal, climatic or site conditions or wildfire; delays in, or refusal, revocation or onerous conditioning of, permits and approvals, and appeal or litigation risk relating to environmental review; changes in laws, regulations or government policy; contractor performance; uncertainties inherent in mineral reserve and mineral resource estimates and in the assumptions underlying the 2026 Feasibility Study; gold price and foreign exchange volatility; the availability of financing on acceptable terms; Indigenous, community and stakeholder relations; and the other risk factors described in the Company's continuous disclosure documents filed under its profile on SEDAR+ at www.sedarplus.ca . This list is not exhaustive.

Readers should not place undue reliance on forward-looking information, which is made as of the date of this news release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise it.

SOURCE Freeman Gold Corp.

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Canada Newswire

September 21, 2026 - 4:30 AM PDT

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