Freeman Files Ni 43-101 Technical Report FOR Maiden High-Grade Oxide GOLD Resource Estimate FOR Lemhi Deposit, Idaho Canadian Securities Exchange: FMAN
FREEMAN FILES NI 43-101 TECHNICAL REPORT FOR MAIDEN
HIGH-GRADE OXIDE GOLD RESOURCE ESTIMATE FOR
LEMHI DEPOSIT, IDAHO
CANADIAN SECURITIES EXCHANGE: FMAN FOR IMMEDIATE RELEASE
SALMON, IDAHO– August 11, 2021 – Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE:
3WU) (“Freeman” or the “ Company”) is pleased to announce that it has filed on SEDAR a National
Instrument 43 -101 ( “NI 43-101”) compliant, independent technical report (the “Report”) on its 100%
owned Lemhi Gold Project located in Idaho. The Report summarizes the results of the maiden Mineral
Resource Estimate (“MRE”) conducted on the Lemhi Gold Project . The MRE was completed by APEX
Geoscience Ltd. (“APEX”) of Edmonton, Alberta.
Highlights of the filed Report include:
• The pit constrained MRE using a 0.5 g.t cut-off and a gold price of US$1 ,550 per
troy ounce (oz) is comprised of:
o Indicated MRE of 749,800 oz gold (“Au”) at 1.02 grams per tonne ( “g/t”) in
22.94 million tonnes
o Inferred MRE of 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes;
• The resource is modelled as amenable to open pit mining using standard , low-cost
gold leaching technologies, including carbon in leach and heap leach processing;
• Over 90% of the MRE is contained within Freeman’s 100% owned patented claims;
and
• The resource remains open on strike to the north, south and west as well as at depth.
There are no material differences in the Report from those results disclosed in the Company's press release
dated July 8, 2021.
The Report was filed on August 10, 2021, with an effective date of June 1, 2021, and is entitled “Maiden
Resource Independent Technical Re port for the Lemhi Gold Project, Lemhi County, Idaho, USA ”. The
Report, prepared in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects - is available
for review on SEDAR (www.sedar.com) and on the Company's website (www.freemangoldcorp.com).
The Report was prepared for Freeman by APEX and the mineral resource estimate contained in the Report
was completed by Michael Dufresne M.Sc., P. Geol., P.Geo.
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Table 1: Lemhi Gold Project Mineral Resource Estimate
Constrained with US $1,550 per ounce of gold Pit Shell at
various Cut-Off Grades (effective as of June 1, 2021)
Au Cutoff
(grams
per tonne)
Tonnes
(1,000 kg)
Avg Au
(grams
per
tonne)
Au
(troy
ounces)
Class
0.2 35,970,000 0.78 900,200
Indicated
0.3 32,341,000 0.84 870,000
0.4 27,490,000 0.92 815,500
0.5 22,939,000 1.02 749,800
0.6 18,683,000 1.12 674,700
0.8 12,038,000 1.36 526,500
1 7,812,000 1.61 405,300
0.2 13,952,000 0.72 322,600
Inferred
0.3 12,233,000 0.78 308,700
0.4 9,875,000 0.89 282,100
0.5 7,683,000 1.01 250,300
0.6 5,823,000 1.16 217,600
0.8 3,528,000 1.47 166,900
1 2,348,000 1.76 133,200
1. Contained tonnes and ounces may not add due to rounding.
2. Mineral resources are not mineral reserves and do not have
demonstrated economic viability. The Indicated, and Inferred MRE is
undiluted and constrained within an optimized pit shell constructed
using a gold price of US$1 ,550 per oz. The estimate of Mineral
Resources may be materially affected by environmental, permitting,
legal, title, taxation, socio -political, marketing, or other relevant
issues. There is no certainty that Mineral Resources will be converted
to Mineral Reserves.
3. The Inferred Mineral Resource in this estimate has a lower level of
confidence than that applied to the Indicated Mineral Resource and
must not be converted to a Mineral Reserve. It is reasonably expected
that the majority of the Inferred Mineral Resource could be upgraded
to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources in this news release were estimated in
accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM), CIM Standards on Mineral Resources and
Reserves, Definitions (2014) and Best Practices Guidelines (2019)
prepared by the CIM Standing Committee on Reserve Definitions and
adopted by the CIM Council.
5. The constraining pit optimization parameters were US$2.1/t
mineralized and US$2/t waste material mining cost, CIL processing
cost of US$8/t, US$2.4/t HL processing cost, US$2/t G&A, 50 -degree
pit slopes with a 0.50 g/t Au lower cut-off.
The resource is classified according to the CIM “Estimation of Mineral Resource s and Mineral Reserves
Best Practice Guidelines” dated November 29, 2019, and CIM “Definition Standards for Mineral Resources
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and Mineral Reserves” dated May 10, 2014. APEX believes the Lemhi Gold Project has the potential for
future economic extraction. For further details please refer to press release dated July 8, 2021.
The technical content o f this release has been reviewed and approved by Dean Besserer, P. Geol., VP
Exploration for the Company and a Qualified Person as defined by NI 43-101.
About the Company
Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned
Lemhi Gold project (the “Lemhi Project”). The Lemhi Project comprises 30 square kilometres of highly
prospective land. The mineralization at the Lemhi Project consists of high grade, shallow, near surface
primarily oxide gold mineralization that has seen over 444 drill holes but remains open at depth and in
multiple directions.
On Behalf of the Company
William Randall, President & CEO
For further information, please visit the Company’s website at www.freemangoldcorp.com or contact
Mr. Tom Panoulias at 416-294-5649 or by email at: [email protected]
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 its 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 Company does not undertake to update forward‐lo oking statements or forward‐
looking information, except as required by law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for
the adequacy or accuracy of this release.