VANCOUVER, BC, May 5, 2026 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce the appointment of Justin Bills as Vice President, Environment and External Relations. In this role, Mr. Bills will lead the Company's environmental, social, and governance (ESG) strategy and oversee stakeholder engagement, community relations, and permitting initiatives, with a primary focus on advancing the Lemhi Gold Project in Idaho.
Mr. Bills brings extensive experience in permitting, regulatory affairs, and stakeholder engagement across the mining sector. He has a strong track record of successfully guiding projects through complex federal, state, and local permitting processes, while building constructive relationships with Indigenous groups, local communities, and government agencies.
Mr. Bills is a sustainability and environmental leader with over 15 years of experience in the mining, infrastructure, and consulting sectors. His career has focused on advancing resource projects through environmental permitting, regulatory strategy, and stakeholder engagement across North America.
Prior to joining Freeman, Mr. Bills served as Principal and Mining Practice Lead at Geosyntec Consultants, where he supported mining clients through all phases of project development, including baseline studies, environmental permitting, and regulatory strategy.
His work included projects across a range of permitting and environmental initiatives at both operating and legacy mine sites, including support for environmental compliance and regulatory programs at the Pennsylvania Mining Complex, Leer, Leer South, and West Elk mines, as well as environmental compliance support at the Haile Gold Mine in South Carolina.
He has also held direct operational leadership roles, including as Environmental and Sustainability Manager for Cripple Creek & Victor Gold Mine in Colorado, where he was responsible for overseeing permitting and environmental compliance programs, and the integration of sustainability and reclamation initiatives within site operations.
At Freeman, Mr. Bills will play a key role in supporting the advancement of the Lemhi Gold Project through the permitting phase, ensuring alignment with regulatory requirements and best practices in environmental stewardship and community engagement.
"We are very pleased to welcome Justin to the Freeman team," said Bassam Moubarak, Chief Executive Officer of Freeman. "His expertise in permitting and external relations will be instrumental as we continue to advance the Lemhi Gold Project. Establishing a strong foundation of environmental responsibility and community trust is central to our development strategy, and Justin's leadership will be critical in achieving these objectives."
Mr. Bills commented: "I am excited to join Freeman at this important stage of development. The Lemhi Gold Project represents a significant opportunity, and I look forward to working collaboratively with stakeholders to advance the project in a responsible and transparent manner."
The Company continues to prioritize sustainable development practices and proactive engagement as it progresses the Lemhi Gold Project toward the next stages of development.
Lemhi Feasibility Study Update
The Company expects the feasibility study to be completed in Q2 2026. The delay in finalization of the feasibility study is due to additional optimization work relating to the Company's permitting strategy and optimization of process facilities.
Equity Grant to Management
The Company also announces that in connection with Mr. Bills' appointment as Vice President, Environment and External Relations, he has been granted 750,000 incentive stock options ("Options"), pursuant to the Company's stock option plan. The Options vest over a three-year period and are each exercisable to purchase one common share of the Company at an exercise price of $0.31 for a period of five (5) years.
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 mineral resource estimate at a 0.2 g/t Au cutoff is comprised of 8.356 million tonnes at 0.92 g/t Au for 247,000 ounces (oz) of gold, an Indicated Mineral Resource of 39.954 million tonnes at 0.76 g/t Au for 974,000 oz of gold, and an Inferred Mineral Resource of 10.683 million tonnes at 0.70 g/t Au for 240,000 oz of gold*.
The recently updated price sensitivity analysis (see Freeman's news release dated April 9, 2025) shows a PEA with an after-tax net present value (5%) of US$329 million and an internal rate of return of 28.2% using a base case gold price of US$2,200/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine of 11.2 years payable output of 851,900 oz Au; life-of-mine cash costs of US$925/oz Au; and, all-in sustaining costs of US$1,105/oz Au using an initial capital expenditure of US$215 million*.
Freeman has recently commenced advance permitting and baseline characterization for the Lemhi Gold Deposit. This work represents a key step in Freeman's strategy to move the Lemhi Gold Project assertively toward future development and production.
*Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., the VP Exploration for the Company and a Qualified Person as defined by the National Instrument 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 Statments
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements"). Forward-looking statements include, but are not limited to, statements regarding: the timing and completion of the feasibility study; the advancement of environmental baseline studies, permitting activities, and development of the Lemhi Gold Project; the Company's ability to obtain required permits, approvals, and authorizations; the anticipated benefits of the appointment of Mr. Bills; and the results and assumptions of the preliminary economic assessment, including estimated net present value, internal rate of return, capital expenditures, operating costs, production rates, and mine life.
Forward-looking statements are based on management's current expectations and assumptions, including, without limitation: the ability to advance the Project as contemplated; the availability of financing, contractors, and equipment on reasonable terms; the timely completion of environmental and permitting programs; the receipt of required approvals; and commodity prices and general economic conditions remaining within expected ranges. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, without limitation: risks related to the speculative nature of mineral exploration and development; the inclusion of inferred mineral resources in economic analyses; permitting and regulatory risks, including delays or failure to obtain approvals; risks related to Indigenous consultation and accommodation; environmental risks; title and access risks; the accuracy of technical studies and resource estimates; fluctuations in commodity prices; cost increases; financing risks; contractor performance; and general economic, market, and political conditions.
Readers are cautioned that the preliminary economic assessment is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results will be realized. Forward-looking statements are made as of the date of this news release, and the Company undertakes no obligation to update or revise such statements, except as required by applicable law.
SOURCE Freeman Gold Corp.
For further information, please visit the Company's website at www.freemangoldcorp.com or contact Mr. Bassam Moubarak at by email at bm@bmstrategiccapital.com .
