# Freeman Gold Delivers Feasibility Study for the Lemhi Gold Project Confirming 1 Million¹ Ounce Proven and Probable Reserve, US$696 Million Post Tax NPV\(5%\), 34.4% IRR and 15-Year Mine Life Using Base Case $3,650/oz Au Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/freeman-gold-delivers-feasibility-study-for-the-lemhi-gold-project-confirming-1--0ec69a5a-a38f-4d77-856f-d17ff0e810c3 Original source: https://finance.yahoo.com/markets/commodities/articles/freeman-gold-delivers-feasibility-study-113000411.html Publisher: yahoo\_press Original announcement: 2026-06-29T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Freeman Gold Corp. - Ticker: FMAN - Exchange: TSXV - Region: Idaho, USA - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Economic study, Resource update - Extracted: 2026-09-19 00:08:51 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Freeman Gold Corp. has released a Feasibility Study for the Lemhi Gold Project in Idaho, confirming 1 million ounces of Proven and Probable gold reserves. The study reports a post-tax NPV\(5%\) of US$696 million, a 34.4% IRR, and a 15-year mine life based on a gold price of $3,650/oz. Reasoning: The announcement of a Feasibility Study \(FS\) showing a substantial increase in NPV and the establishment of 1 million oz of P&P reserves represents a major de-risking milestone for the project. - Positive factor: Significant NPV increase from prior PEA - Positive factor: Conversion of resources to 1 Moz Proven and Probable Reserves - Positive factor: Strong IRR of 34.4% - Positive factor: Long mine life of 15 years Facts used in scoring: 2 ## Classification and evidence **PFS Complete** Polarity: positive Definition: AACE Class 3 study complete. Why it applies: The document announces a Feasibility Study \(FS\), which is a higher level of maturity than a PFS, but fits the category of advanced study completion. Evidence · text > results of the Feasibility Study \("FS"\) for its 100%-owned Lemhi Gold Project **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The study confirms 1 million ounces of Proven and Probable reserves. Evidence · text > Confirming 1 Million¹ Ounce Proven and Probable Reserve **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The study was prepared in accordance with NI 43-101 standards. Evidence · text > Prepared by Ausenco Engineering Canada ULC \("Ausenco"\) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects \("NI43-101"\) ## Extracted facts Stored fact records: 1. Some facts used in scoring do not have a stored record. ## Resource Estimates (1) ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/freeman-gold-delivers-feasibility-study-for-the-lemhi-gold-project-confirming-1--0ec69a5a-a38f-4d77-856f-d17ff0e810c3#fact-resource-facts-1) Lemhi Gold Project · gold #### Identity - Project: Lemhi Gold Project - Commodity: gold - Region: usa\_id - Reported Region: Idaho, USA - Ticker: FMAN #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - Resource group id: resource:3d036d27b720901da4df - Ownership percent: 100 % #### Resource Data - Category: probable - Contained Metal: 1000000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-29T00:00:00.000Z Reasoning: The conversion of resources to a significant reserve base is a major project milestone. - Positive factor: Establishment of 1 Moz P&P reserves Evidence · text > Confirming 1 Million¹ Ounce Proven and Probable Reserve #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.