Freeman Gold Corp. announced the successful completion of its 2022 drill program at its 100% owned Lemhi Gold Deposit, Idaho, USA. The program consisted of 58 diamond drill holes and 13 reverse circulation (RC) for a total of 15,349 metres.

Drilling successfully extended known mineralization in areas previously modelled as barren (unmineralized) in the Company's maiden mineral resource estimate (refer to press release dated July 8, 2021) with the objective of increasing the modelled in-pit ounces. 2022 Program Highlights: Drilling: To date, results for 50% (29 holes) of the completed holes, including three holes at the Company's high grade Beauty Zone gold discovery have been received and released. Drilling highlights from this campaign include: Discovered the Beauty Zone with initial drill hole containing 68.23 g/t Au over six metres and five follow-up holes with results pending for three RC holes; Significant shallow intercepts in oxide expanded the known mineralization to both the east and west by 80 and 166 metres, respectively; Gold mineralization now extends to at least 348 metres and is open at depth; and Selected highlighted results include 0.61 g/t Au over 66m, including 3.1 g/t Au over 5.0m (FG22-011C); 0.55 g/t Au over 55m, including 1.1 g/t Au over 18.52m (FG22-001C); 0.34 g/t Au over 105.92m including 1.49 g/t over 7.0m (FG22-031C); 0.24 g/t Au over 156.69m including 2.1 g/t over 7.44m (FG21-004C); 1.2 g/t Au over 24m (FG22-036C), 0.4 g/t Au over 41m (FG22-003C); 1.5 g/t Au over 9.0m (FG22-010C); 0.61 g/t Au over 90m, including 0.92 g/t Au over 15.97m (FG22-009C); 0.94 g/t Au over 41m, including 1.67 g/t Au over 17m (FG22-014C); 0.73 g/t Au over 7.5m (FG22-002C; deepest mineralization drilled to date (340m) at Lemhi; and 2.1 g/t Au over 16m (FG22-016C).

Remaining assay results are expected to be received by January 2023 and will be released in batches, including the Beauty Zone follow-up holes. In addition to the comprehensive 2022 drill program, Freeman has advanced the Lemhi gold project with the objective of completing a robust economic study in early 2023. Metallurgy: SGS Mineral Services ("SGS") of Burnaby, BC, performed metallurgical aboratory testing beginning in January 2021 and ending in January 2022.

The test work comprised of three phases is detailed in an SGS Report dated February 28, 2022. The laboratory study ran a total of 38 drill hole intervals and composite samples. Initial optimization test work began on archived assay rejects originating from 2012 diamond drill core (Phase 1) and then proceeded to 2020 PQ diamond drill core intervals (Phase 2), followed by 26 variability composite drill core samples originating from 2020 assay rejects (Phase 3).

These samples were used for comminution, gravity recovery, leaching, and liquid/solid separation studies, as well as ongoing environmental evaluation. The laboratory testing used composite samples averaging close to the predicted current resource grade of 1.01 g/t Au, resulting in average gold extractions of 95%. This comprised of a wide range of potential mill feed grades of between 0.4 g/t to 10.9 g/t resulting in 91% to 99% gold leach dissolution.

Gold recovery continued to hold up well even below potential cut-off grade material. This included down to the lowest grade sample at 0.19 g/t Au, which resulted in 89% gold leach dissolution. Cyanide tailing residues typically analyzed <0.5 g/t Au and were often below detection limit of 0.02 g/t Au.

Leaching was achieved under moderate operating conditions using a retention time that varied between 36 to 48 hours, depending on head grade. The majority of gold dissolution was shown to occur in the first 24 hours. Following optimization studies, the grind targeted a leach feed particle size of 80% passing 106 microns.

Preliminary comminution work index testing has shown the resource rock at depth having average hardness for crushing and grinding, then becoming softer closer to surface. Pre-treatment of the leach feed by centrifugal gravity concentration suggests on average 1/3 of the gold might be recovered into rougher gravity concentrate that is suitable for intense cyanidation. This is relevant given the corresponding head analyses indicate a significant portion of gold can occur as coarse particles.

Laboratory data also suggests that sulphide bearing material that is occasionally identified in the current resource, including pyrite and chalcopyrite intervals, could produce a potentially marketable flotation concentrate containing gold and copper. Flotation tailing would then be forwarded as feed to the CIP leach process resulting in overall process recoveries in line with whole rock tank leaching. This could become more important should future exploration identify a resource with oxide gold transitioning into sulphide materials at depth.

In conclusion, these results suggest that Lemhi is well suited with respect to metallurgical response for project advancement, based on the current resource grade range. Environmental & Permitting: With respect to permitting, Freeman is in receipt of permanent water rights which will allow for enough water for developing an anticipated 2,000,000 tonne per year mine (5,000 tonne/day). Permit No.

75-15005 was approved May 23, 2022, by the Idaho Department of Water Resources. Freeman's water rights are the only registered groundwater rights in the Lemhi Gold Deposit's basin. This is a crucial step in de-risking the project and demonstrates the value of mining-friendly tier one jurisdictions such as Idaho.