New Risk • Apr 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$9.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.2m free cash flow). Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$96.9m market cap, or US$70.9m). Announcement • Feb 06
Freeman Gold Corp. Expands Lemhi Gold Deposit to 1.22 Moz Measured and Indicated At 0.79 G/T in 48.310 Million Tonnes in Updated Resource Estimate Freeman Gold Corp. announced results of the updated Mineral Resource Estimate conducted on its 100% owned Lemhi Gold Deposit located in Idaho. The MRE was completed by APEX Geoscience Ltd., Edmonton, Alberta. The 2025 drill program was designed to convert the majority of inferred ounces within the 2023 pit-constrained resource into the Measured and Indicated categories. The open pit Measured, Indicated and Inferred MRE are undiluted and constrained within a conceptual pit shell. The 2026 Lemhi MRE drillhole database consists of a total of 478 drillholes that intersect the mineralization domains. There are 26,561.88 metres of drilling within the estimation domains, with 287 drill holes completed between 1983 and 1995, and 208 drill holes completed between 2012 and 2025. Inside the mineralized domains there is a total of 19,467 samples analyzed for gold. The current drill hole database is deemed to be in good condition and suitable for use in ongoing MRE studies. The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., the VP Exploration for the Company and a Qualified Person as defined by the National Instrument 43-101. On Behalf of the Company. Announcement • Jan 08
Freeman Gold Corp. Announces Transformative Year for Its Lemhi Gold Project in Idaho Freeman Gold Corp. announced a transformative year for its Lemhi gold project ("Lemhi Gold Project" or "Lemhi") in Idaho, marked by major milestones that position the Company for the next phase of growth. Strategic Financing Strengthens Growth Plans. In April 2025, Freeman announced updated economic results that reflected the then current gold price environment. Using a gold price of USD 3,400 per ounce, the Lemhi Gold Project demonstrated a post-tax Net Present Value (NPV5%) of approximately USD 876 million, a post-tax internal rate of return (IRR) of 57.4%, and a payback period of 1.6 years. These enhanced metrics quantify the project's significant leverage to gold prices, highlight its low-cost and low-capital nature, and substantiate strong economics at prevailing market gold prices. This sensitivity analysis underscores Lemhi's value across a range of price scenarios and reinforces its attractiveness as a development asset. During September 2025, the Company completed a 33-hole, 3,328-metre drill program focused on resource conversion and expansion. The program delivered encouraging results, including high-grade intercepts such as 8.0 metres grading 3.1 g/t gold, confirming mineral continuity within the deposit. Importantly, all drilling was completed on patented claims, and results continue to demonstrate that the deposit remains open to both the north and south of the pit outlined in the pre-feasibility study. These outcomes reinforce the potential for future resource growth and mine life expansion. In December 2025, Freeman finalized its Phase 4 metallurgical test work, which delivered exceptional results. Average gold recoveries of 95.4% were achieved using a simple, conventional carbon-in-leach flowsheet, validating the robustness of Lemhi's processing characteristics. In addition, cyanide destruction tests met applicable discharge standards, further underscoring the project's low-risk metallurgical and environmental profile. The recently updated price sensitivity analysis shows a PEA with an after-tax net present value (5%) of USD329 million and an internal rate of return of 28.2% using a base case gold price of USD 2,200/oz; Chief Executive Officer. 
