FREEMAN APPOINTS DAVID KEOUGH TO ITS BOARD OF DIRECTORS

VANCOUVER, BC, Dec. 2, 2024 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) ("Freeman Gold", "Freeman" or the "Company") is pleased to announce it has appointed David Keough to its board of directors, effective December 2, 2024.

Mr. Keough is an experienced mining executive with over 35 years of practice in the mining industry including exploration, engineering, mine operations (Open Pit and Underground), corporate development, contracting, consulting, projects and construction. His extensive mining experience spans jurisdictions across Latin America, North America, Europe, Africa and Asia Pacific. He has direct experience in numerous commodities including precious metals, base metals, mineral sands, and lithium. Furthermore, Mr. Keough has held a number of executive director positions in both private and public companies in Australian and Canada, with broad experience serving on Board audit committees, sustainability committees and compensation committees.

During his 35-year career, Mr. Keough worked for Placer Dome, Minera Alumbrera (Argentina), and spent six years with Goldcorp Inc. in key corporate development and operational roles in numerous countries before his appointment as Executive Vice President and Chief Operating Officer for Crocodile Gold. He later served as Executive Director and Chief Operating Officer of Goldrock Inc., in which he successfully permitted the Lindero gold project (Argentina) for construction. Lindero was subsequently acquired by Fortuna Silver Mines Inc. He is currently a Non-Executive director of Saxum Engineering Solutions, a leading private engineering firm in the Americas.

Mr. Keough holds a Bachelor of Science and post graduate diploma (Mineral Economics) from James Cook University (Queensland) and is a Fellow of the Australian Institute of Mining and Metallurgy and an accredited Chartered Professional (Management). He also holds open-pit mine manager's certificates of competency (Western Australia).

Commenting on the appointment, CEO Bassam Moubarak "I am very excited and honoured to be working with David again. We look forward to David's valuable input in our engineering studies and mine development plans to further unlock and enhance the value of the 100% owned Lehmi Gold Project."

Paul Matysek, Freeman Gold Executive Chairman, continued, "David was instrumental in completing feasibility studies for both Goldrock Mines and Lithium-X Energy Corp. that were the basis for negotiating sales to Fortuna Silver Mines Inc and NextView New Energy Lion Hong King Ltd., respectively. These two transactions cumulatively delivered $444 million of value to shareholders and investors and we are glad to have the team back together at Freeman Gold."

The Company further announces the grant of an aggregate of 500,000 stock options to a director and to a consultant of the Company, whereby each stock option is exercisable at $0.11 for a period of five years from the date of grant, subject to regulatory approval.

About the Company and Project

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the "Project"). The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained National Instrument 43-101 compliant mineral resource estimate is comprised of 988,100 oz gold ("Au") at 1.0 grams per tonne ("g/t") in 30.02 million tonnes (Measured & Indicated) and 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes (Inferred). The Company is focused on growing and advancing the Project towards a production decision.

The recently completed Preliminary Economic Assessment (PEA) shows: an after-tax NPV(5%) of US$212.4 million and IRR of 22.8% using a base case gold price of US$1,750/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine ("LOM") 11.2 years payable output of 851,900 oz Au; LOM cash costs of US$809/oz Au; and, all-in sustaining cash costs of US$957/oz Au using an initial CAPEX of US$190 million.

On Behalf of the Company
Bassam Moubarak
Chief Executive Officer

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 press release contains "forward‐looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to exploration, results therefrom, and the Company's future business plans. All statements in this release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties, and assumptions. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval+ (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

SOURCE Freeman Gold Corp.

For further information, please visit the Company's website at www.freemangoldcorp.com or contact Mr. Bassam Moubarak at by email at [email protected]