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Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce the addition of a new Strategic insider to its shareholder base. Freeman welcomes Brian Paes-Braga, marking a significant milestone in the Company's growth trajectory. This addition reflects strong confidence in Freeman's vision and the long-term potential of its flagship Lemhi Gold Project in Idaho, USA.
Bassam Moubarak, CEO of Freeman Gold, commented, "We are thrilled to welcome Brian as an investor in Freeman. His support underscores the strength of our asset. This partnership aligns with our commitment to advancing the Lemhi Project toward production and delivering long-term value to all shareholders."
Brian Paes-Braga commented, "Lemhi Project represents a unique opportunity to unlock significant value through responsible development and strategic execution in mining friendly Idaho, United States. I believe the asset has been overlooked by the market, Management has the vision and the potential to build a successful gold company. I look forward to supporting the team as they advance toward production and create long-term value for all stakeholders."
The Company has been advised that following open market purchases through alternative trading platforms by Brian Paes-Braga (the "Acquiror") of 5,000,000 common shares of the Company ("Common Shares") at a price of $0.2108 per Common Share for total consideration paid by the Acquiror of $1,054,200 (the "Acquisition"), the Acquiror has beneficial ownership, control or direction of 15,650,000 Common Shares representing 5.09% of the issued and outstanding Common Shares, and would have beneficial ownership, control or direction of 37,541,110 Common Shares representing 11.39% of the Common Shares on a partially diluted basis assuming the conversion or exercise of Convertible Debentures, Warrants, and Stock Options of the Company held by the Acquiror. The Acquiror has beneficial ownership of $1,000,000 of Convertible Debentures representing 20.00% of the issued and outstanding Convertible Debentures, 15,555,555 Warrants representing 15.26% of the issued and outstanding Warrants, and 780,000 Stock Options representing 3.29% of the issued and outstanding Stock Options. Prior to the Acquisition, the Acquiror had beneficial ownership, direction or control of 10,650,000 Common Shares, representing 3.46% of the issued and outstanding Common Shares. The Company has been advised that the Acquiror acquired these securities for investment purposes and the Acquisition will be disclosed in an early warning report to be filed under the Company's SEDAR+ profile. The Acquiror may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.
Mr. Brian Paes-Braga is the Managing Partner at SAF Group, he is Executive Chairman of NG Energy International Corp. and is the Founder, CEO and Chairman of The Metals Royalty Co. Mr. Paes-Braga attended the Owner President Management (OPM) Program at Harvard Business School.
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 the 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, statements relating to exploration, results therefrom, and the Company's future business plans, and statements regarding the price sensitivity analysis and impact thereof on the evaluation of the Project's economic potential. 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 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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