Freeman Welcomes Executive Order Empowering Domestic Mineral Production
FREEMAN WELCOMES EXECUTIVE ORDER
EMPOWERING DOMESTIC MINERAL
PRODUCTION
VANCOUVER, BC
,
March 26, 2025
/CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB:
FMANF) (FSE: 3WU) ("
Freeman
" or the "
Company
") welcomes President
Donald Trump's
Executive Order
to fast-track and revitalize American mineral production (the "
Order
"). Among its
provisions, the Executive Order empowers use of the Defense Production Act to elevate domestic
production capabilities and provides for program guidance on financing tools for mining projects
made available through the U.S. Export-Import Bank. The Company is evaluating the new programs
that have been announced to determine the Lemhi Gold Project's potential eligibility.
In addition to meeting national needs, the Lemhi Gold Project (the "
Project
") is designed to provide
hundreds of jobs and stimulate the local economy in
Idaho
. As laid out in the 2023 Preliminary
Economic Assessment ("
PEA
"), the Project is a high-grade, low-cost, open pit operation with an
average annual production of 80,100 ounces ("
oz
") of gold ("
Au
") in the first eight years. The
production strategy envisions a phased development with an increase in throughput during the fifth
year of operation, with a flowsheet utilizing a carbon-in-leach ("
CIL
") processing facility. The
objective of the study has been to maximize the value of the Project, while minimizing the footprint
and environmental impact.
See
October 16, 2023
news release
.
The Order defines critical minerals as those listed in 30 U.S.C. 1606(a)(3), as well as uranium,
copper, potash, gold, and any other element, compound or material as determined by the Chair of
the National Energy Dominance Council (NEDC). The Order is also designed to significantly
accelerate permitting as well as expand and prioritize the use of federal lands for mining activities.
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 oz Au at 1.0 g/t in 30.02 million
tonnes (Measured & Indicated) and 256,000 oz Au at 1.04 grams per tonne ("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
92,696m
of drilling has historically been completed.
The recently completed PEA shows: an after-tax net present value ("NPV")(5%) of
US$212.4 million
and an internal rate of return ("IRR") of 22.8% using a base case gold price of
US$1,750
/oz;
Average annual gold production of 75,900 oz Au for a total life-of-mine ("LOM") of 11.2 years
payable output of 851,900 oz Au; LOM cash costs of
US$809
/oz Au; and, all-in sustaining cash
costs ("AISC") of
US$957
/oz Au using an initial capital expenditure ("CAPEX") of
US$190 million
.
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 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 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' SEDAR+ electronic
filing and data access platform 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 26-MAR-25