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Freeman Gold Corp. (TSXV: FMAN,OTC:FMANF) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce that it has engaged GSI Environmental Inc. ("GSI"), a leading North American environmental and permitting consultancy, to advance permitting and baseline characterization for the Company's flagship Lemhi gold deposit (the "Lemhi Project" or the "Project") in Lemhi County, Idaho. This work represents a key step in Freeman's strategy to move the Lemhi Project assertively toward future development and production.
For more than two decades, GSI has been recognized for delivering innovative, science-driven permitting strategies that streamline project approvals for mining clients across the United States and internationally. Its multi-disciplinary team will support Freeman in a comprehensive scope of work that includes:
- Environmental and permitting guidance for the Project's feasibility study (the "FS")
- Baseline environmental studies and reporting
- Technical studies, modeling, and impact assessments
- Permitting and regulatory compliance support
- Mitigation strategy and management plan development
- National Environmental Policy Act (NEPA) compliance
- Mine closure and reclamation planning
As Freeman's lead permitting consultant, GSI brings deep experience working with key federal agencies—including the U.S. Army Corps of Engineers and U.S. Forest Service—as well as Idaho state regulators such as the Idaho Department of Lands and Idaho Department of Environmental Quality ("IDEQ"). GSI's proven track record in preparing successful permit applications and amendments ensures strong alignment with both federal and state requirements throughout the NEPA process.
As part of the engagement, GSI will contribute to the environmental, social, and permitting sections for the FS. This collaboration strengthens Freeman's technical team and ensures the FS reflects the highest standards of environmental planning and compliance.
Work is already underway. GSI has initiated water-resource characterization activities, including installing pressure transducers in monitoring wells to collect year-round groundwater data. It is also completing desktop analyses to develop a detailed hydrogeological conceptual site model and a supporting work plan for additional agency-required characterization. These components form the foundation for future water-resources assessments and the development of a numerical groundwater model—critical pieces of the permitting and baseline process.
GSI has also commenced geochemical baseline characterization of ore, waste rock, and tailings to evaluate potential water-quality impacts during and post-mining. Comprehensive static and kinetic testing programs are being designed to support mine planning, environmental management, and permitting requirements.
GSI's team has successfully supported permitting and compliance efforts for mining clients throughout the U.S. and internationally, including:
- Liberty Gold USA Inc. – Black Pine Project (ID)
- P4 Production, LLC – Caldwell Canyon (ID)
- P4 Production, LLC – Blackfoot Bridge (ID)
- Jervois Global – Idaho Cobalt Operations (ID)
- Burnstone Industries – Burnstone Quarry (ID)
- Barrick – Golden Sunlight Mine (MT)
- Hecla – Libby Exploration Project (MT)
- High Divide Minerals – Regal Mine (MT)
- High Divide Minerals – Treasure Mine (MT)
- Surge Battery Metals – Nevada North Lithium Project (NV)
- Lithium Nevada LLC – Thacker Pass (NV)
- Lithium Nevada LLC – Western Quarry (NV)
- Lithium Nevada LLC – North South Exploration Project (NV)
- Nevada Gold Mines – Emigrant/Rain Mine (NV)
- Rawhide Mining Co – Rawhide Mine (NV)
- Coeur Mining Inc. – Rochester Mine (NV)
- Coeur Mining Inc. – Kensington Mine (AK)
In conjunction with GSI, Freeman has also retained Trinity Consultants, Inc. ("Trinity") to provide air quality consulting services to support baseline characterization and permitting for the Project. Trinity's scope of work will include the following:
- Meteorological and baseline ambient air monitoring and data analysis.
- Development of a facility-wide air emissions inventory.
- Air dispersion modeling in accordance with IDEQ and other relevant regulatory requirements.
Trinity's team of consultants provides industry-leading expertise in air quality management, emissions control, and regulatory compliance to help businesses navigate evolving environmental requirements.
Bassam Moubarak, CEO and Director of Freeman, noted, "Securing our mining permit is a critical milestone for the advancement of the Lemhi Project. Working with GSI's experienced team, we will de-risk the mine permitting process and create long-term value for our shareholders."
Freeman is pleased to be advancing the Lemhi Project with the support of a highly respected permitting partners and looks forward to continued progress as the FS and permitting programs accelerate.
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 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 988,100 ounces gold ("oz Au") at 1.0 gram per tonne ("g/t") in 30.02 million tonnes (4.7 million tonnes Measured (168,800 oz) & 25.5 million tonnes Indicated (819,300 oz)) 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. To date, 525 drill holes and 92,696 m of drilling has historically been completed (Murray K., Elfen, S.C., Mehrfert, P., Millard, J., Cooper, Schulte, M., Dufresne, M., NI 43-101 Technical Report and Preliminary Economic Assessment, dated November 20, 2023; www.sedarplus.ca).
The recently updated price sensitivity analysis (see Freeman's news release dated April 9, 2025) shows a PEA with an after-tax net present value (5%) of US$329 million and an internal rate of return of 28.2% using a base case gold price of US$2,200/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine of 11.2 years payable output of 851,900 oz Au; life-of-mine cash costs of US$925/oz Au; and, all-in sustaining costs of US$1,105/oz Au using an initial capital expenditure of US$215 million*.
*Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
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 NI 43-101.
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, all statements related to the 2023 PEA, the price sensitivity analysis and impact thereof on the evaluation of the Project's economic potential, exploration and results therefrom, the planned feasibility study, 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 under the Company's profile on 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.
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