FREEMAN ANNOUNCES ROBUST MAIDEN PRELIMINARY ECONOMIC ASSESSMENT FOR LEMHI: AFTER TAX NPV OF US$ 212 MILLION

TSX Venture Exchange: FMAN

VANCOUVER, BC, Oct. 16, 2023 /PRNewswire/ – Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) (“Freeman” or the “Company“) is pleased to announce results for the maiden Preliminary Economic Assessment (“PEA”) on the Company’s 100% owned Lemhi Gold project (“Lemhi”), located in Idaho, USA. The PEA outlines a high-grade, low-cost, open pit operation with an average annual production of 80,100 ounces of gold (“Au”) in the first eight years. The production strategy outlined in the PEA consists of a phased development with an increase in throughput during the fifth year of operation, with a flowsheet utilizing a carbon-in-leach (“CIL”) processing facility. The objective of the study has been to maximize the value of Lemhi, while minimizing the footprint and environmental impact of the facility.

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