FREEMAN GOLD HAS AVERAGE 95% GOLD EXTRACTION FROM 2021/22 METALLURGICAL TESTING PROGRAM AT ITS LEMHI GOLD PROJECT

TSX Venture Exchange: FMAN

  • Leach gold removals averaged 95% and ranged from 89% to 99% over varying gold grades, resource depths and spatial areas.
  • The results support the use of conventional CIP reservoir leaching procedures for inclusion in a planned PEA.

VANCOUVER, BC, March 10, 2022 /PRNewswire/ – Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) (“Free man“or the”Company“) is pleased to announce the final results of the comprehensive 2021/22 metallurgical testwork program conducted at the Lemhi Gold Deposit (“Lemhi“or the”Project“), located in the east Idaho, United States.

Building on earlier work (see October 5, 2021Press release), the metallurgical test work is now complete to a level that allows for inclusion in a preliminary economic assessment (“PEAS“). Cyanide gold extractions averaged 95%, based on 38 variability samples, with head grades ranging from 0.2 g/t to 10.9 g/t Au, and an average of 1.02 g/t Samples were collected over a large spatial area considered representative of the first mineral resource of 2020 (see July 8, 2021Press release).

Results are based on moderate process operating conditions suitable for conventional carbon paste (“C.I.P.“) tank leaching process. This includes grinding to 80% pass-grade (P80) 106 microns, with a leach retention time of approximately 36 hours, after gravity pretreatment.

“Our completed metallurgical program has confirmed excellent gold recoveries over a large spatial area representative of the Lemhi resource estimate,” commented Paul Matysek, Executive Chairman. “Additionally, the metallurgical samples taken at depth have provided consistent recoveries similar to those near surface. This bodes very well for our current drill program as we seek to construct ounces of oxidized gold on strike and down. depth.”

Frank WrightP.Eng., Freeman’s Independent Consulting Metallurgist at F. Wright Consulting Inc., added, “The metallurgical program at Lemhi has consistently delivered gold recoveries in the mid to upper 90% range across most of the resource and is now at a stage to support a preliminary economic assessment of the project. »

2021/22 metallurgical test program

SGS Mining Services, Burnaby, BC(“SGS“) carried out metallurgical tests in the laboratory from January 2021 and ending with January 2022. The test work consisted of three phases, as detailed in a dated SGS report February 28, 2022. The laboratory study used a total of 38 drill hole intervals and composite samples. Initial optimization test work began on archived assay rejects from the 2012 diamond drill core (Phase 1) and then continued to the 2020 PQ diamond drill core intervals ( phase 2) and, finally, tested 26 composite variability drill core samples from the 2020 assay rejects (Phase 3). These samples were used for comminution, gravity recovery, leaching and liquid/solid separation studies, as well as ongoing environmental assessment.

Laboratory testing used composite samples averaging close to the current planned resource grade of 1.01 g/t Au (see below) resulting in average gold extractions of 95%. This included a wide range of potential mill feed grades between 0.2 g/t and 10.9 g/t, resulting in 91% to 99% dissolution of the gold by leaching. Gold recovery continued to hold up well, even below the potential cut-off grade material. This included down to the lowest grade sample at 0.19 g/t Au, which resulted in 89% dissolution of the gold by leaching. Cyanide tailings tailings typically analyzed

Pretreatment of the centrifugal gravity concentration leach feed suggests that on average 1/3 of the gold could be recovered in a coarser gravity concentrate suitable for intense cyanidation. This is relevant given that the corresponding head assays indicate that a significant portion of the gold may occur as coarse particles.

Laboratory data also suggests that sulphide material occasionally identified in the current resource, including pyrite and chalcopyrite intervals, could produce a potentially marketable flotation concentrate containing gold and copper. The flotation tailings would then be routed as feed to the CIP leach process, resulting in overall process recoveries consistent with whole rock reservoir leaching. This could become more important if future exploration identifies a resource with oxidized gold transitioning to sulphide material at depth.

In conclusion, these results suggest that Lemhi is well suited in terms of metallurgical response for project advancement, based on the current grade of open pit mining resources (see below).

The metallurgical test program was developed and overseen by an independent consulting metallurgist Frank WrightP.Eng., of F. Wright Consulting Inc. Mr. Wright is a Professional Engineer and Qualified Person as defined by National Instrument 43-101 (“National Instrument 43-101“), with experience in mineral processing and hydrometallurgy spanning global mine development programs for over 25 years.

About the company and the project

Freeman Gold Corp. is a mining exploration company focused on the development of its 100% owned Lemhi Gold property (the “Project“). The project comprises 30 square kilometers of highly prospective land, hosting near-surface oxidized gold resources. The NI 43-101 compliant mineral resource estimate is 749,800 oz of gold (“At“) to 1.02 grams per tonne (“g/t“) in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). See NI 43-101 Maiden Resource Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA” with an effective date of June 1, 2021and the date of signature of July 30, 2021as prepared by APEX Geoscience Ltd. and F. Wright Consulting Inc. available under the Company’s profile on SEDAR (www.sedar.com). The company is focused on growing and advancing the project towards a production decision. The technical content of this press release has been reviewed and approved by Dean BessererP.Geol., VP Exploration of the Company and a Qualified Person as defined by NI 43-101.

On behalf of the company
William Randall
President and CEO

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 its future business plans. All statements in this release, other than statements of historical fact 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 to ”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “could” or “should” occur. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ from those contained in the forward-looking statements. This forward-looking information reflects the Company’s beliefs with respect to future events and is subject to risks, uncertainties and assumptions. The reader is invited to consult the Company’s reports, available to the public through the System for Electronic Document Analysis and Retrieval (SEDAR) of the Canadian Securities Administrators at www.sedar.com for a fuller discussion of these risk factors and their potential effects. The Company does not undertake to update any forward-looking statements or forward-looking information, except as required by law.

SOURCE Freeman Gold Corp.

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