Freeman Gold drills 68.23 g/t gold and 40.18 g/t silver over 6 metres at Lemhi, Idaho

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Freeman Gold Corp. [FMAN-TSXV; FMANF-OTCQX; 3WU-FSE] reported results for five diamond drill holes and three reverse circulation (RC) holes totaling 1,231 metres from the company’s follow up drill program at its newly discovered Beauty zone on the Lemhi Gold property, Idaho, United States.

The drill holes were designed to test mineralization along strike and down dip of the known discovery hole (FG21-003C), which returned 6 metres at 68.23 g/t gold and 40.18 g/t silver, including 3.16 metres at 128.92 g/t gold and 75.59 g/t silver.

The Beauty zone is part of a 350-metre by 250-metre coincidental gold-in-rock-and-soil anomaly which is open to the south, southwest and east. Drilling now shows three distinct mineralized zones – upper, main and lower zones. The main zone projects to surface where 28 rock grab samples contained more than 10 g/t gold (up to 450 g/t gold).

Highlights: Drilled eight additional holes (722 metres core in five holes; 509 metres reverse circulation in three holes) at the Beauty Zone after discovery hole FG21-003C which returned 6 metres at 68.23 g/t gold and 40.18 g/t silver, including 3.16 metres at 128.92 g/t gold and 75.59 g/t silver.

Mineralization is continuous approximately 150 metres along strike and 115 metres down dip with the main zone having continuity down dip and localized mineralization both above and below the main zone

Drill hole FG22-013C intersected 4.2 metres at 3.2 g/t gold, including 0.6 metres at 19.6 g/t gold. FG22-020C intersected 2.0 metres at 1.4 g/t gold, including 0.5 metres at 4.7 g/t gold and 10.4 g/t silver and 1.94% copper.

FG22-026C intersected 0.9 metres at 4.3 g/t gold and 22.6 g/t silver and 1.6% copper. FG22-056R intersected 12.19 metres at 1.49 g/t gold, including 1.52 metres at 8.04 g/t gold, which is believed to be a new zone at depth. The zone remains open down dip and on strike

Paul Matysek, Executive Chairman, commented, “We are excited to have demonstrated continuity of the high-grade mineralization along strike and at depth at the Beauty Zone. The zone occurs near surface and in close proximity to our core Lemhi project. We will look at the Beauty Zone as additional high-grade ounces that may be incorporated into our PEA.”

Gold mineralization at the Beauty Zone now extends approximately 150 metres along strike and 115 metres down dip and is open at depth and along strike to the north. The drill section and long section attached show the continuous nature of the zone downdip (Figure 1 and 2). The zone does continue to exhibit structural complexity and poor recoveries due to the faulting. Lemhi Gold Deposit:

As of December 2022, a total of 50 new core drill holes for a total of 12,168 metres and 10 RC holes totalling 1,621.5 metres were completed at Lemhi. These holes have been primarily designed to test on strike extensions of the known resource as well as infill in certain parts of the gold deposit. In particular, the drill program has focused on areas currently modelled as pit waste because of no or sparse drill data.

This marks the completion of the Phase 3 RC drill program which was concluded in December due to inclement weather and drilling issues. Additionally, eight holes (five core drill holes and three RC) were drilled at the Beauty Zone totaling 1,231 metres.

Freeman Gold is focused on the development of its 100%-owned Lemhi Gold property. The project comprises 30 km2 of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained NI 43- 101 compliant mineral resource estimate is comprised of 749,800 oz gold at 1.02 g/t in 22.94 million tonnes (Indicated) and 250,300 oz gold at 1.01 g/t gold in 7.83 million tonnes (Inferred). Freeman is focused on growing and advancing the project towards a production decision.

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