FREEMAN EXTENDS LEMHI SHALLOW OXIDE GOLD MINERALIZATON 166 METRES TO THE WEST

Rhea-AI Summary

Freeman Gold Corp. (TSXV: FMAN) has reported significant progress in its 12,000m Phase II drill program at the Lemhi Gold Deposit in Idaho. Recent drill results highlight multiple intersections of shallow oxide gold mineralization, indicating potential resource expansion. Key findings include:

• FG22-001C: 55m at 0.55 g/t Au (including 18.52m @ 1.1 g/t Au)
• FG22-036C: 24m @ 1.2 g/t Au
• FG22-011C: 66m at 0.61 g/t Au (including 5m @ 3.1 g/t Au)

The current Indicated Mineral Resource stands at 22.94 million tonnes at 1.02 g/t Au, equating to approximately 749,800 oz of gold.

Positive

• Phase II drill program has identified significant gold mineralization extending 166 metres along strike and at depth.
• All drilled holes have intersected shallow oxide gold, confirming the presence of valuable resource potential.
• Expansion of resource model expected due to new drilling in previously untested areas, potentially upgrading waste zones.

Negative

• None.

Phase 2 drill holes continue to intersect shallow oxide gold mineralization within existing resource pit both along strike and at depth

• Expansion hole FG22-001C returned 55m at 0.55 g/t Au including 18.52m @ 1.1 g/t Au
• Expansion hole FG22-036C returned 24m @ 1.2 g/t Au
• Expansion hole FG22-011C returned 66m at 0.61 g/t Au including 5m @ 3.1 g/t Au
• Expansion hole FG22-031C returned 105.92m at 0.34 g/t Au including 7m @ 1.49 g/t Au
• Expansion hole FG21-004C returned 156.69m at 0.24 g/t Au including 7.44m @ 2.1 g/t Au
• Infill hole FG22-010C returned 9m at 1.5 g/t Au.

Toronto Venture Stock Exchange: FMAN

VANCOUVER, BC, Nov. 9, 2022 /PRNewswire/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to report results of 15 diamond drill holes from the Company's 12,000m Phase II resource expansion and infill drill program at its 100% owned Lemhi Gold Deposit, Idaho, USA. Fourteen of these drill holes were designed to test mineralization on strike to the west of the known deposit (expansion holes) and one infill hole to improve the resource confidence in zones with historical drill holes (Figures 1, 2 and 3 attached and Table 1).

The expansion holes represent 20 to 166 metre step outs to the west of existing drilling where mineralization is untested and open. These areas were previously modelled as unmineralized due to lack of drilling in the initial maiden mineral resource estimate ("MRE"). The current MRE comprises an Indicated Mineral Resource of 22.94 million tonnes at 1.02 g/t Au for 749,800 oz of gold and an Inferred Mineral Resource of 7.68 million tonnes at 1.01 g/t Au for 250,300 oz of gold (refer to press release dated July 8, 2021). The MRE covers a surface area of 400 by 500 metres and extends down to a depth of 180 metres below surface. The resource expansion holes that form the bulk of the current Phase II drill program are designed to extend this current resource both along strike and at depth.

Paul Matysek, Executive Chairman, commented, "Very positive news, these results clearly show gold mineralization at Lemhi extends up to 166 metres along strike and to the west.  Similar to our results in the east, the Lemhi gold deposit is expanding in all directions where historical drilling had not been conducted. This should add valuable ounces to our in pit mineral resource that is currently considered waste."

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the 10 holes are 0.61 g/t Au over 66m, including 3.1 g/t Au over 5.0m (FG22-011C); 0.55 g/t Au over 55m, including 1.1 g/t Au over 18.52m (FG22-001C); 0.34 g/t Au over 105.92m including 1.49 g/t over 7.0m (FG22-031C); 0.24 g/t Au over 156.69m including 2.1 g/t over 7.44m (FG21-004C); 1.2 g/t Au over 24m (FG22-036C); 0.4 g/t Au over 41m (FG22-003C); and 1.5 g/t Au over 9.0m (FG22-010C). Gold mineralization now extends to at least 166 metres to the west and is open at depth. Drill sections for drill holes FG22-003C and FG22-036C are attached. 

Table 1 – Significant Drill Results – Lemhi West*

DRILL HOLE	DEPTH	DIP	AZIMUTH	FROM	TO	HIGHLIGHT
	(METRES)
FG21-004C	270.36	-90	360	30	31	1m @ 0.22 g/t Au
				34	35.15	1.15m @ 0.79 g/t Au
				37	38	1m @ 0.24 g/t Au
				39.62	40	0.38m @ 0.51 g/t Au
				89.32	246	156.69m @ 0.26 g/t Au
				89.31	90.98	1.67m @ 1.97 g/t Au
				115.8	123.24	7.44m @ 2.1 g/t
				115.8	118	2.2m @ 6.74 g/t Au
				120.24	120.8	0.56m @ 0.58 g/t Au
				123	123.24	0.24m @ 0.88 g/t Au
				149	152	3m @ 0.23 g/t Au
				160	161	1m @ 1.42 g/t Au
				175	186	11m @ 0.76 g/t Au
				including
				182.3	186	3.7m @ 2 g/t Au
				193	198	5m @ 0.3 g/t Au
				206.75	209	2.25m @ 1.25 g/t Au
				215	217	2m @ 0.25 g/t Au
				221	222	1m @ 0.63 g/t Au
				234	235	1m @ 0.47 g/t Au
				240	246	6m @ 0.4 g/t Au
FG21-005C	272.8	-90	360	33	34	1m @ 0.26 g/t Au
				47	49	2 m @ 0.21 g/t Au
				61	62	1m @ 0.22 g/t Au
				185	192	7m @ 0.21 g/t Au
				190	192	2m @ 0.39
				202.1	214	11.9m @ 0.25 g/t Au
				including
				202.1	206.1	4m @ 0.48 g/t Au
				211	214	3m @ 0.2 g/t Au
				237	238	1m @ 0.21 g/t Au
				249	255	6 m @ 0.62 g/t Au
FG22-001C	254.2	-90	360	36	37	1m @ 1.03 g/t Au
				133	133.74	0.74m @ 0.83 g/t Au
				162	163.37	1.37 m@ 0.95 g/t Au
				192	247	55m @ 0.55 g/t Au
				including
				207.48	226	18.52m @ 1.1 g/t Au
				including
				217	220	3m @ 4.45 g/t Au
				232	239	7m @ 0.29 g/t Au
FG22-003C	280.42	-90	360	40	41	1m @ 0.23 g/t Au
				123.84	124.72	0.88 @ 1.76 g/t Au
				143	144	1m @ 0.29 g/t Au
				160	165	5m @ 1.1 g/t Au
				160	201	41m @ 0.4 g/t Au
				including
				161	164	3m @ 1.7 g/t Au
				197	201	4m @ 1.52 g/t Au
				228.27	229.29	1m @ 0.25 g/t Au
				244	246	2m @ 0.37 g/t Au
				265	266	1m @ 0.24 g/t
FG22-005C	249.94	-90	360	32	34	2m @ 0.37 g/t Au
				119	120	1m @ 5.1 g/t Au
				130	131	1m @ 0.22 g/t Au
				138	139	1m @ 2 g/t Au
				154	159	5m @ 0.39 g/t Au
				including
				155	156	1m @ 1.2 g/t Au
				177.02	181	3.98m @ 0.36 g/t Au
				194.12	196	1.88m @ 0.25 g/t Au
				248	249	1m @ 1.17 g/t Au
FG22-006C	278.89	-90	360	116	117	1m @ 0.326 g/t Au
				118.87	120	1.13m @ 0.22 g/t Au
				129	131	2m @ 0.54 g/t Au
				137	138	1m @ 0.72 g/t Au
				153	158	5m @ 0.55 g/t Au
				including
				153	154	1m @ 1.9 g/t Au
				160	161	1m @ 0.27 g/t AU
				188	190	2m @ 0.63 g/t Au
				210	211	1m @ 0.27 g/t Au
				220	222	2m @ 0.21 g/t au
				228	229	1m @ 0.77 g/t Au
FG22-008C	255.73	-68	270	15	17	2m @ 0.3 g/t Au
				61	62	1m @ 2.69 g/t Au
				78	79	1m @ 0.3 g/t Au
				139	140	1m @ 0.6 g/t Au
				152.2	200	47.8m @ 0.21 g/t Au
				including
				152.2	157	4.8m @ 0.51 g/t Au
				176.17	178	1.83m @ 0.85 g/t Au
				182	185	3m @ 0.54 g/t Au
				182	190	8m @ 0.35 g/t Au
FG22-011C	251.46	-70	270	9.14	11	1.86 m @ 0.3 g/t Au
				17.06	20	2.94m @ 0.41 g/t Au
				23	24	1m @ 0.3 g/t Au
				39	41	2m @ 1.4 g/t Au
				127	193	66 m @ 0.61 g/t  Au
				including
				158	163	5m @ 3.1 g/t Au
FG22-025C	268.99	-90	360	30	31	1m @ 1.49 g/t Au
				55.63	57	1.37m @ 0.36 g/t Au
				88	89	1m @ 1.56 g/t Au
				95	98	3m @ 1.2 g/t Au
				110	112	2m @ 1.39 g/t Au
				160	262	102m @ 0.22 g/t Au
				including
				160	162	2m @ 1.78 g/t Au
				170	175	5m @ 0.48 g/t Au
				188	189	1m @ 1.69 g/t Au
				193	195	2m @ 0.8 g/t Au
				215	220	5m @ 0.47 g/t Au
				227	232	5m @ 0.47 g/t Au
FG22-028C	289.56	-90	360	12	13	1m @ 0.59 g/t Au
				35	36	1m @ 1.32 g/t Au
				66	67	1m @ 0.24 g/t Au
				81	82	1m @ 0.58 g/t Au
				101	102	1m @ 0.23 g/t Au
				146	156	10m @ 0.6 g/t Au
				176	177	1m @ 0.21 g/t Au
				186	188	2m @ 0.48 g/t Au
				217	218	1m @ 0.51 g/t Au
				227	228	1m @ 0.42 g/t Au
				278	280	1m @ 0.25 g/t Au
FG22-031	252.98	-90	360	4	5	1m @ 0.54 g/t Au
				8.84	10	1.16m @ 0.22 g/t Au
				36	37	1m @ 0.2 g/t Au
				78	79	1m @ 1.55 g/t Au
				133.08	239	105.92m @ 0.34 g/t Au
				including
				136	143	7m @ 1.49 g/t Au
				177	182	5m @ 1.38 g/t Au
FG22-033	204.98	-74	270	2	8	6m @ 0.48 g/t Au
				46	48	2m @ 0.72 g/t Au
				51	52	1m @ 0.34 g/t Au
				128	129	1m @ 0.21 g/t Au
				139	140	1m @ 0.53 g/t Au
				159	163	4m @ 0.4 g/t Au
				167	168	1m @ 0.39 g/t Au
				176.55	198	21.45 @ 0.59 g/t Au
				including
				185	189	4m @ 1.18 g/t Au
FG22-035	258.32	-90	360	81	91	10m @ 0.96 g/t Au
				including
				81	83.21	2.21m @ 2.84 g/t Au
				116	117	1m @ 0.25 g/t Au
				128	129	1m @ 0.38 g/t Au
				133	134	1m @ 0.31 g/t Au
				145	152	7m @ 0.83 g/t Au
				159	167	8m @ 0.31 g/t Au
				including
				163	167	4m @ 0.51 g/t Au
				172	177	5m @ 0.75 g/t Au
				190	191	1m @ 0.43 g/t Au
				197	204.06	7.06m @ 0.39 g/t Au
				210	211	1m @ 0.81 g/t Au
				217	219	2m @ 0.41 g/t Au
				229	231	2m @ 0.31 g/t Au
				237	242	5m @ 0.33 g/t Au
				244.97	246	1.03m @ 0.21 g/t Au
FG22-036C	235.31	-75	270	15	23	8m @ 1.46 g/t Au
				98	99	1m @ 0.2 g/t Au
				107	108	1m @ 0.43 g/t Au
				122	127.07	1.07m @ 0.24 g/t Au
				125	149	24m @ 1.2 g/t Au
				160	162	2m @ 0.21 g/t Au
				164	165	1m @ 0.21 g/t Au
				176	177	1m @ 0.59 g/t Au
				217	218	1m @ 0.22 g/t Au
INFILL
FG22-010C	202.69	-90	360	29	34	5m @ 0.35 g/t Au
				48	49.17	1.17 m @ 1.44 g/t Au
				62	71	9m @ 1.5 g/t Au
				104	106	2m @ 0.47 g/t Au
				128	130	2m @ 0.21 g/t Au
				136	141	5m @ 0.32 g/t Au
				149	151	2m @ 0.4 g/t Au

*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length.

** Using 0.2 g/t Au cut-off.

Lemhi Gold Deposit:

As of November 9, 2022, 50 new core drill holes for a total of 12,168 metres and seven reverse circulation ("RC") holes totalling 1,128 metres have been completed at Lemhi. These holes have been primarily designed to test on strike extensions of the known resource as well as infill in certain parts of the gold deposit. In particular, the drill program has focused on areas currently modelled as pit waste because of no or sparse drill data. All ounces added in these areas, even if close to the cut-off grade, will add value to the project as they come from zones in the resource shell that can now be upgraded to resources (Figures 1, 2 and 3 attached). An additional 20 holes or approximately 4,000m have been planned as part of the Phase 3 RC drill program which is ongoing.

All drill holes from the project have been logged, sampled and sent to the laboratory. Analytical results are pending.  

All drill core samples are sent to ALS Global Laboratories (Geochemistry Division), an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy (select drill holes), in Vancouver, Canada.  Freeman has a regimented Quality Assurance, Quality Control (QA/QC) program where at least 10% duplicates, blanks and standards are inserted into each sample shipment. 

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 ("NI 43- 101") compliant mineral resource estimate is comprised of 749,800 oz gold ("Au") at 1.02 grams per tonne ("g/t") in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). See the NI 43-101 technical report titled "Maiden Resource Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA" with an effective date of June 1, 2021, and signing date of July 30, 2021, as prepared by APEX Geoscience Ltd. and F. Wright Consulting Inc. available under the Company's profile on SEDAR (www.sedar.com). The Company is focused on growing and advancing the Project towards a production decision. The 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 NI 43- 101.

On Behalf of the Company
William Randall
President and 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.sedar.com 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.

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SOURCE Freeman Gold Corp.

FAQ

What are the recent drill results for Freeman Gold Corp. (FMANF)?

Recent drill results from Freeman Gold Corp.'s Lemhi Gold Deposit include notable intersections such as 55m at 0.55 g/t Au and 66m at 0.61 g/t Au, showing significant mineralization.

How much gold does the current resource estimate for Freeman Gold Corp. contain?

The current Indicated Mineral Resource for Freeman Gold Corp. is 22.94 million tonnes at 1.02 g/t Au, totaling approximately 749,800 oz of gold.

What is the focus of Freeman Gold Corp.'s Phase II drill program?

The Phase II drill program is focused on resource expansion and infill drilling at the Lemhi Gold Deposit to test unmineralized areas and upgrade waste zones.

When was the latest press release from Freeman Gold Corp. issued?

The latest press release from Freeman Gold Corp. was issued on November 9, 2022.

What is the significance of the drill hole FG22-001C results?

Drill hole FG22-001C returned 55m at 0.55 g/t Au, including a highlight of 18.52m at 1.1 g/t Au, indicating strong mineralization and potential for resource expansion.