# FREEMAN GOLD PROVIDES CORPORATE UPDATE Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/freeman-gold-provides-corporate-update--14620272-8d0d-42fd-be42-e6b0cde203fc Original source: https://money.tmx.com/en/quote/FMAN/news/5600351502065887/freeman-gold-provides-corporate-update Publisher: tmx Original announcement: 2025-05-27T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Freeman Gold Corp. - Ticker: FMAN - Exchange: TSX - Region: Idaho - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Economic study - Extracted: 2026-09-17 23:06:23 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Freeman Gold Corp. provided an update on the Lemhi Gold Project, noting that updated gold price assumptions \($2,200/oz\) have improved the PEA economics to a post-tax NPV of US$329 million and an IRR of 28.2%. The company is currently progressing toward a Feasibility Study expected in Q1 2026, supported by ongoing drilling, metallurgical testing, and permitting activities. Reasoning: The company provided a comprehensive update on the Lemhi Gold Project, highlighting improved economics from updated gold price assumptions and progress toward a Feasibility Study. - Positive factor: Updated PEA pricing assumptions significantly improve NPV and IRR - Positive factor: Feasibility Study \(FS\) currently underway to de-risk project - Positive factor: Ongoing drilling targeting resource conversion \(Inferred to M&I\) - Positive factor: Strong metallurgical indicators \(>95% recovery\) - Negative factor: Economics are based on a PEA which includes speculative Inferred resources Facts used in scoring: 5 ## Classification and evidence **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: The company is currently conducting a Feasibility Study \(FS\) to support advanced development. Evidence · text > On February 10, 2025, the Company awarded a lump sum Feasibility Study \(" FS "\) of Lemhi to Ausenco. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The mineral resource estimate is explicitly stated as NI 43-101 compliant. Evidence · text > The pit constrained National Instrument 43-101 \(" NI 43- 101 "\) compliant mineral resource estimate **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource estimate contains a significant Inferred component. Evidence · text > 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes \(Inferred\) ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/freeman-gold-provides-corporate-update--14620272-8d0d-42fd-be42-e6b0cde203fc#fact-resource-facts-2) Lemhi Gold Project · gold #### Identity - Project: Lemhi Gold Project - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: FMAN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:17366443a711b93f0cdc - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 25500000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 819300 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-27T00:00:00.000Z Reasoning: Standard resource disclosure for the project. - Positive factor: Large indicated resource base Evidence · text > 25.5 million tonnes \(819,300 oz\) ... at 1.0 gram per tonne #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **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 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/freeman-gold-provides-corporate-update--14620272-8d0d-42fd-be42-e6b0cde203fc#fact-resource-facts-3) Lemhi Gold Project · gold #### Identity - Project: Lemhi Gold Project - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: FMAN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:40b68e5ab40d657af6a2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 7630000 - Grade: 1.04 - Grade Unit: g/t - Contained Metal: 256000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-27T00:00:00.000Z Reasoning: Inferred resource provides potential upside but lacks geological confidence. - Negative factor: Speculative category Evidence · text > 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes \(Inferred\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **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 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **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 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/freeman-gold-provides-corporate-update--14620272-8d0d-42fd-be42-e6b0cde203fc#fact-resource-facts-4) Lemhi Gold Project · gold #### Identity - Project: Lemhi Gold Project - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: FMAN #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9a26dd4e451b30ee1fbe - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 4700000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 168800 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-27T00:00:00.000Z Reasoning: Measured resource component of the total estimate. Evidence · text > 4.7 million tonnes Measured \(168,800 oz\) ... at 1.0 gram per tonne #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **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 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **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.