FREEMAN GOLD CORP. DELIVERS MAJOR 2025 ACHIEVEMENTS $10.5 million financing in addition to warrant exercises of $4.8 million ; High-grade drill results; and Phase 4 metallurgical program confirms >95% gold recoveries
FREEMAN GOLD CORP. DELIVERS MAJOR
2025 ACHIEVEMENTS
$10.5 million
financing in addition to warrant exercises of
$4.8 million
;
High-grade drill results; and
Phase 4 metallurgical program confirms >95% gold recoveries
VANCOUVER, BC
,
Jan. 6, 2026
/CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF)
(FSE: 3WU) ("
Freeman
" or the "
Company
") is proud to announce a transformative year for its
flagship
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
July 2025
, Freeman successfully raised
$10.5 million
through a non-brokered private placement
and an unsecured convertible debenture offering. This financing materially enhanced the Company's
balance sheet and provides the capital required to advance exploration, metallurgical optimization,
and feasibility-level work at
Lemhi
. The strong support demonstrated by our investors reflects
continued and growing confidence in the quality of the asset and Freeman's development
strategy. Additionally, management and insiders continue to support the Company and control 28.5%
of the outstanding shares. See
July 17, 2025
,
August 6, 2025
and
August 18, 2025
news releases
for additional details.
Robust and Strengthening Project Economics
In
April 2025
, Freeman announced updated economic results that reflected the then current gold
price environment. Using a gold price of
US$3,400
per ounce, the Lemhi Gold Project demonstrated
a
post-tax Net Present Value (NPV5%) of approximately
US$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. See
April 9, 2025
news release for additional details.
Drilling Confirms Resource Expansion Potential
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. See
September 15, 2025
,
September 23, 2025
, and
December 4, 2025
news releases for additional
details.
Metallurgical Testing Delivers Outstanding Results
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. See
December 9, 2025
news release for
additional details.
Management Commentary
"Our achievements in 2025 represent a turning point for Freeman," said Bassam Moubarak, CEO
and Director. "The combination of strong drill results, exceptional metallurgical recoveries, strategic
financing, and highly attractive economic sensitivity to current gold prices has positioned us to deliver
an updated resource estimate in Q1 2026. This will be a critical step toward completing our
feasibility study in
April 2026
and moving the Lemhi Gold Project closer to production. We are
excited about the opportunities ahead and remain committed to creating long-term value for our
shareholders. On behalf of the Board of Directors and the entire Freeman team, I would like to thank
our shareholders for their continued support and confidence. We look forward to an active and
value-defining year ahead."
Looking Ahead
Freeman expects to release an updated Mineral Resource Estimate in early Q1 2026, incorporating
the results of the 2025 drilling program. This updated estimate will form the foundation of the
feasibility study and represents a key milestone on the path toward a production decision at
Lemhi
.
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.,
VP Exploration of 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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For further information:
For further information, please visit the Company's website at
www.freemangoldcorp.com or contact Mr. Bassam Moubarak at by email at
CO: Freeman Gold Corp.
CNW 07:30e 06-JAN-26